Trying to estimate how much disaster recovery might cost your business is a challenging and complex task. When it comes to data recovery, the costs to your business will include IT services. However, you must not forget the downtime that occurs when you don’t have an effective disaster recovery plan in place.
How much downtime can your business afford? How soon would you be able to return to business as usual following a disaster? These are essential questions to consider as you assess the potential costs and risks. Let’s take a closer look at disaster recovery costs and how a professional IT disaster recovery plan can make all the difference.
What Is Disaster Recovery?
Contrary to popular belief, disaster recovery (DR) is not only what happens after a natural disaster or catastrophic events like a destructive storm or business fire. It also includes situations where an organization loses critical applications, data, and equipment necessary to conduct business as usual.
Equipment breakdown or loss of even one application can cause a chain reaction of issues that puts your business productivity at a standstill. DR is what happens after the “disaster” or event to get your business back on track. On the other hand, a disaster recovery plan is a proactive strategy that helps you return to optimal operations as quickly as possible.
Any business that experiences a disaster will have to go through disaster recovery to come out on the other side. The alternative is to close their doors for good. But not all businesses have a solid disaster recovery plan to streamline and expedite the process. A professional DR plan can do more than just help you recover. It can enhance cyber resilience and recovery capabilities, so your business is stronger and safer than ever.
How Much Would a Disaster Cost Your Business?
The numbers will vary depending on your business and industry, but the typical disaster recovery costs are staggering. According to the Federal Emergency Management Association, the costs of business outages can add up to a loss of between $10K and $5M per hour. And 40 to 60% of small businesses do not reopen after a disaster or catastrophic event. So no matter the size of your business, downtime is the costly enemy you want to avoid.
By working with an IT solutions team with experience in disaster recovery, you can better understand how much a disaster might cost your business. But, more importantly, they can help you develop a DR plan to ensure a rapid recovery that prevents brand damage, lost revenue, and unhappy customers.
Turn to CMIT Solutions to Protect Your Business
Don’t leave your business vulnerable to high disaster recovery costs that can threaten your future. At CMIT Solutions, we can help you take a holistic, proactive approach to DR to ensure your business productivity and success, no matter what challenges come your way.
We reduce the chance that your business will experience a disaster in the first place. But if you do, our experts will help you get back to business in less time. Contact us today to protect your business with a disaster recovery plan.
