Disasters can happen to any organization. A disaster could be anything from a natural catastrophe, like a hurricane or tornado, to a man-made disaster like a data breach. No matter the source, the result can be devastating to a business. It is crucial to have a defined disaster recovery strategy so that business can recover quickly and resume operations as soon as possible.
In 2022, as evolving ransomware attacks are targeting companies across different industries, business owners cannot afford to delay preparing a disaster recovery strategy.
Reasons to make disaster recovery strategy a priority
Businesses should consider several reasons to prioritize creating a disaster recovery plan.
Humans make mistakes
Human error is often the cause of data breaches or loss. Some common human errors include deleting files accidentally, formatting drives without first backing up files, and clicking on malicious links that contain malware. Without a disaster recovery plan, a business will likely suffer lost revenue, customers, and data as a result.
A disaster recovery plan mitigates the effects of human error and helps business resume operations with minimized impact. A disaster recovery plan that includes creating incremental online data backups helps businesses restore files to an error-free state.
Hardware can fail
Hardware failure is a common occurrence. When a physical server fails, for instance, there is no guarantee that it can be fixed. As a result of critical hardware failure, business might experience operational issues and service outages. Additionally, network hardware failure can cause prolonged Internet connection problems and other connectivity issues. Infrastructure failures can cause data loss as well as operational interruptions.
A disaster recovery plan considers how to continue operations even in the event of hardware failure. For example, it is highly recommended to back up critical data regularly to a trusted operator that can guarantee offsite data safety in Cloud storage. Offsite storage not only reduces the burden of managing an on-premise data center but also lowers capital expenses.
Customers expect nothing but the best
An operational outage often leads to dissatisfied customers. For instance, if an e-commerce website is down or unreachable for an extended period because of disaster, human error, or cyberattack, customers may simply switch to a competitor.
A well-designed disaster recovery plan can help retain customers in case malfunction leads to downtime or outage. By having a backup copy of data and systems readily available, organizations minimize the amount of time offline and preserve customer loyalty.
Reacquiring lost customers can be costly
Winning back lost customers can be costly, especially for small businesses. But exactly how much does it cost?
According to a Harvard Business Review article, acquiring a new customer can cost anywhere from 5 to 25 times more than keeping existing ones. Another study by Bain & Company found that a 5% increase in customer retention rates translates to a 25% to 95% increase in profits.
The cost of losing customers makes having a disaster recovery plan essential for any business. Creating a disaster recovery plan not only costs less than losing customers due to a disaster but also helps safeguard against losing valuable time and money following an IT incident.
Nature is unpredictable and so are the costs of operational failure
By neglecting to have a disaster recovery plan, businesses risk data loss – and perhaps the company’s very existence.
When developing a disaster recovery plan, consider the following:
- What would happen if the company’s primary site was unavailable?
- What systems and data need to be recovered?
- How fast does the business need to be back up and running?
- What are the risks and threats specific to a business?
- Who is responsible for what components of the plan?
Developing a comprehensive disaster recovery plan can seem daunting. But, by taking a systematic approach and involving all key stakeholders, a strategy can be developed that protects business from experiencing the effects of unexpected mayhem.
To learn more about developing a disaster recovery plan for your business, consult Roebuck Technologies’ experienced IT professionals. Call us or leave us a message.
