Why business continuity strategies are more important than ever
The best enterprise leads understand the importance of business continuity. Keeping services running and mitigating potential damage caused by third-party attacks or potential disasters. Anything from hardware failure to storms also increases the need for continuity, something which can determine whether a business stays afloat or not.
Why are BDR plans so important?
Backup and disaster recovery has always been relevant in the IT world. Having options to protect and recover data is fundamental for any enterprise. But the modern digitally driven world has new challenges and demands both staff and management must contend with.
Remote work also increased both demand and need for long-term continuity. Numerous internet-facing nodes and potential dangers mean higher risk. The prevalence of ransomware and ransomware gangs means anyone is a victim, and the consequences are dire. Thus, with a myriad of threats, there’s a need for a strong BDR philosophy.
Modern problems facing the digital enterprise, driving the need for continuity plans
There are other reasons to place significant importance on business continuity. Continuity helps maintain business and workflows to mitigate the effects of downtime.
Downtime is costly
Downtime can easily bring down an SMB. In this scenario, services are rendered unusable for an indeterminate period of time. Hours? Days? Weeks? Depending on the business model, income isn’t generated and the company is left footing the recovery bill.
But the costs don’t stop there. Depending on the source of the downtime, like malware, there’s potential brand damage and loss in consumer trust too. Indeed, an enterprise can end up paying for downtime well after the fact, even when services are returned to normal.
It’s also not only the source of the downtime creating cost problems. Recovery periods are what create black holes in bottom lines and profit margins. Several hours of downtime can costs tens of thousands, so it literally pays to have a cohesive continuity plan.
Disasters and downtime come in many forms
Being prepared for anything is a critical aspect in business continuity. That’s because downtime and similar occurrences aren’t just outwardly facing. Sometimes problems occur internally due in great part to human error.
One backup solution isn’t enough
Though the importance of data recovery services and functions should be stressed, in today’s threat climate, it’s no longer enough. There are simply too many ways to lose data. Additionally, how is your data stored in case of an emergency? Is it sent to third-party providers or stored somewhere else? What if those go down?
Essentially, damage can occur anywhere at any given time with no way to completely recover what’s lost. So, while BDR is critical, it’s only one piece in a bigger foundation.
Other factors which can cause long term downtime
Business continuity plans have to account for a lot. If you’re not convinced, though, the numbers paint a different picture:
- 20 disaster level events occurred in 2021, incrementing to 20 billion in damages
- 75 percent of SMBs affected by a natural disaster event or otherwise typically see closure 12 months later, or sooner
Those are small sample and handful of examples in a sea of problems. Backup is crucial, but trends determine that business continuity is necessary to survive. With the rise of climate disasters caused by climate change on top of an increasingly dangerous online space, thinking short-term is not viable.
So, when you consider BDR, think about business continuity as well. For additional help and information, you can reach out to Bytagig.