Did you know that 68 percent of small business owners don’t have a disaster recovery plan in place, despite the astonishing cost of downtime? This means they are taking on significant risk, given that downtime can run $8,000 to $74,000 per hour when you take into account lost productivity and revenue from systems being down.
At TPx, we care about your business, which is why we put together this short video to outline the risks involved when it comes to disaster recovery in the event of a natural or man-made disaster, power outage, cyberattack, equipment failure or crash.
Here are a few key points to keep in mind:
1.Business Disruption Has Real-World Consequences [:13]
In addition to the sky-high cost of downtime, research from Garter shows that 49 percent of SMBs would need at least three months to recover. In fact, many never recover at all. An astonishing 43 percent of SMBs go out of business after a major data loss; and overall, 51 percent close their doors permanently within two years of an outage.
2.Insurance is Not a Guarantee for Recovery [:31]
Many SMBs think of insurance as, well, insurance – against the worst consequences of disaster. The reality is that insurance doesn’t cover all costs, and plans often have stringent requirements in order for payouts to be approved.
SMBs should also remember that insurance can’t replace the customers lost while offline during a disaster. If no one’s picking up the phone, customers tend to walk away.
3. SMBs Are Just as at Risk as Large Enterprises [:41]
No matter the size of your business or the industry you’re in, you need to be able to keep going, whatever the circumstances. SMBs sometimes make the mistake of thinking recovery will be simpler and easier than large companies because they have less infrastructure. But that’s simply not true: The odds of an SMB surviving a major data loss are only 6 percent, according to Gartner.
4. Make Sure You Have a Solid Business Continuity Plan [:48]
You need a solid business continuity plan so you can maintain essential functions during a disaster, and fully recover after a disaster has occurred. Elements of this should include personnel; communications and other technology; physical facilities; electronic payment systems; liquidity concerns; financial disbursement; any manual operations; and other considerations. Remember, when developing a continuity strategy, consideration should be given to both short-term and long-term goals and objectives.
5.Consider Managed Services [:58]
The adoption of managed services to support your IT equipment and infrastructure in the event of a disaster is a minimal investment compared to the cost of downtime. These subscription-based services are fully redundant and can be accessed from anywhere; they’re also always up to date, and the right provider can work with you on implementing them with business continuity in mind. That way you can recover quickly from unexpected events such as hardware or application failure, data corruption, connectivity outages or other incidents that affect users and your customers.
TPx offers customized, affordable business continuity solutions that protect your business-critical applications, systems and data in the event of a disaster of any stripe. We offer managed backup and recovery, managed firewalls, managed SD-WAN, managed Office 365, managed data centers, and managed endpoints, to keep you protected when something unexpected happens. All of this features round-the-clock support from experienced, certified, 100-percent U.S.-based staff.
Don’t forget: An errant backhoe can stop your business dead in its tracks as surely as a flood, earthquake or hurricane. Don’t be one of the organizations assuming they’ll get by when issues arise. Visit https://www.tpx.com/how-we-help/solutions/business-continuity and contact your TPx representative today about how we can help.
About the Author
Joe Royer is the Product Manager for IT/Cloud services at TPx. He has 25 years of industry experience in sales, consulting, and product management for several leading MSPs.