Every business today runs on technology: computers and internet. What ties it all together into a smooth-running, holistic digital organism is your IT function.
So, when IT system fail, your business continuity can be seriously disrupted. What you need to ask yourself is whether it will be just an annoying inconvenience or could your business survival be at stake?
That’s the essential difference between Business Continuity and Disaster Recovery. They represent two quite different scenarios for your business future.
Business Continuity means that your business will keep running with minimal interruption in the event of significant outage, e.g. fire, flooding or theft. System monitoring, cloud backups and saving regular images of your data in external storage will ensure that your business can keep running with minimal interruption.
IT Networks also recommends that your IT department works closely with your marketing and/or PR team to ensure that such disruption doesn’t damage your brand image.
Disaster Recovery involves a set of policies, tools and procedures to enable the recovery or continuation of vital technology infrastructure and systems following a natural or human-induced disaster. Disaster recovery focuses on restoring critical business functions as opposed to business continuity, which involves keeping all essential aspects of a business functioning despite significant disruptive events. Disaster recovery can therefore be considered as a subset of business continuity.
What are the Risks of an IT disaster?
Disaster Recovery is the last thing you want to face. Potentially, an IT disaster can affect the entire business environment. While insurance may cover up to 70% of financial losses, it may not be enough. 2015 Disaster Recovery statistics suggest that downtime lasting for one hour can cost:
• small companies as much as $8,000,
• mid-size organizations $74,000, and
• large enterprises $700,000.
The real impact of an IT disaster is lost reputation and trust. Loosing confidential or sensitive data, especially data that is governed by legal regulations, can irreparably damage your brand and business. In some industries, data is subject to regulatory compliance. Any loss or breach of data will have serious legal implications.
For example, of companies that had a major loss of business data, 43% never reopen and 29% close within two years. As a result, preparation for continuation or recovery of systems needs to be taken very seriously.
Due to the high cost, Disaster Recovery solutions were previously only available to large enterprises. Today, this cost is insignificant and easily affordable for SMEs. A Disaster Recovery plan is a mission-critical ingredient of every professional business, regardless of its size.
The best way to prepare for a major disaster is to implement preventative measures. This includes having an understanding of your business and the way technology is used within the business. Having an experienced IT team in place to produce a plan for when a disaster hits, despite all safeguards is the only way to ensure continuity when the unforeseen occurs.
Bottom line? You need a Disaster Recovery Plan.
It is important for a business leadership team to understand the strategic implications of an IT Disaster and Disaster Recovery situation.
The role of an experienced CIO in this process is invaluable. The IT Networks’ vCIO will help guide essential high-level discussions to ensure you have a tailored, auditable Disaster Recovery plan in place. It will not only provide the best path to Business Continuity but also the best strategy. It will ensure that the Disaster Recovery Plan provides the business with minimum risk and damage.
By continuously monitoring your systems, we can quickly set up your staff to work from any location. Depending on the scope of the disaster, your team can quickly resume work from home, temporary premises, or even co-working space.
Your environment will be promptly restored and you will be operational again, within a defined time period which will depend on your specific or industry requirements.