Simple Guidance for Disaster Recovery & Backups
Data Protection: Need of the Hour
No matter what your business’ size, location or industry is, data and information assets are critical to your business’ operation and success. Despite this:
- Only 41% of businesses back up their data at least once a day1.
- Last year, 80% of data breaches affected customer PII2.
Data Loss Gives No Warning
The following factors can wipe out the data of any business at any moment, including yours.
Hacking, Human Error, Social Attacks, Malware and Data Misuse:
The Consequences of Data Loss
- Severe Downtime: For SMBs, per-hour downtime costs vary from $10,000 to $50,0008.
- Damage to Reputation: One-third of customers will end their association with a business following a major breach or data loss.
- Penalties and Lawsuits: In 2020, the OCC fined Morgan Stanley $60 million for failing to comply with standards and secure sensitive data.
- Closure: Irrecoverable data loss can lead to a business owner’s biggest nightmare—permanent closure.
Do you want these events to happen to your business? Of course not!
Cost of Data Loss
- The most expensive component of a cyberattack is information loss, which represents 43% of costs.
- The average cost per lost record in 2020 was $146.
- Organizations without robust BCDR faced an average of 201 hours per year of downtime.
Can you afford this? (You shouldn’t have to!)
BCDR is Critical in 2021
Business continuity and disaster recovery is a comprehensive process/approach that ensures a disaster or unpredicted event does not critically affect operations and core business functions or assets. BCDR helps your business in the following ways:
- Operational Continuity: BCDR goes beyond basic backups and can help you achieve seamless operational continuity during an accident, breach or disaster. In fact, BCDR has helped many companies successfully embrace the “new normal” following COVID-19.
- Takes on Ransomware: Through the deployment of proper BCDR, effective defense against ransomware is possible.
- Data Protection: Robust BCDR can help you protect sensitive data during uncertainties. In 2020, Dr Reddy’s Laboratories was hit by a data breach. However, since they were equipped with robust BCDR, the amount of data lost was nil.
Don’t worry if the concept of backup and BCDR sounds complex to you. We are here to help.
Simply send us an email and get ready to empower your business with a Business Continuity and Disaster Recovery Plan set in place.
Source: Kaseya IT Management Software