Words like disaster and catastrophe are frequently heard these days. But what about words like resilience, recovery, and reinforcement? With a solid business disaster recovery (BDR) plan in place and the support of a managed service provider (MSP), businesses can reframe the debate, and shore up their organizations against the potential effects of catastrophe.
What can happen to a business during a disaster?
No one wants to experience a business disaster, which is why working with a managed service provider is so important. But what exactly happens to a business during the midst of a disaster? Let’s take a look.
- Security can be compromised.
Perhaps the most acute issue facing businesses in the midst of disaster is security. In the event of a cyberattack, or another man-made disaster with malicious intent, data theft may be a direct result. However, even during other, unintentional forms of disaster, critical security systems and protocols may be knocked offline, leaving a business exposed.
- Key data and function may not be available.
Businesses rely on data, and on the tools and software that support crucial business functionality. During a disaster, this data may suddenly become unavailable — in the worst cases, permanently — and important tools and apps may be unusable.
- Customers and clients may not be able to access products and services.
If customers cannot access products and services, the company loses revenue and the client base gets frustrated. This is a nightmare for businesses, and can leave a lasting reputational and financial impact.
- The business loses serious ground in the market.
If the period of disaster lasts too long, a business will begin to flounder. Competitors in the market will begin to move ahead, and it can be difficult to make up this lost ground.
- Long-term growth may be derailed.
The immediate effects of a disaster are felt in the short term, but there are long-term implications to be considered too. A company has long-term growth objectives, and these targets may have to be appraised and reevaluated when a business encounters a major disaster.
- The business may be liable for penalties or legal action.
If it is found that a business did not take adequate steps to protect sensitive data, or if they left their customers, stakeholders, or partners exposed, they could find themselves liable for legal penalties. Civil actions may also be taken against businesses in some instances.
These are just a few of the most acute dangers associated with business catastrophe. Many businesses are hit so hard by disasters that they simply do not survive.
Why it is so important to stay protected
So far, 2020 has taught us some very important lessons. Perhaps the most important is that disaster — on a worldwide scale — is not the stuff of Hollywood. Instead, it can and will happen.
COVID-19 has wreaked havoc right across the world. National economies have been brought to the brink, livelihoods have been ruined, and the world is now coming to terms with a very uncertain future indeed. And this is before we begin to take into account the loss of life, which stood at over 334,000 deaths as of June 22, 2020. Almost one-third of those deaths occurred right here in the United States.
It’s no secret that COVID-19 has caused disaster for many businesses, both at home and abroad. But it would be incorrect to assume that a business catastrophe began with the arrival of COVID-19 in 2020. Back in 2019, before any cases of the novel coronavirus had been detected in the US, businesses were already reporting massive hourly costs related to enterprise server downtime. Twenty-five percent of businesses reported an average hourly cost of between $301,000 and $400,000, demonstrating that this problem is not a new one, nor is it likely to simply go away.
“Twenty-five percent of businesses reported an average hourly cost of between $301,000 and $400,000, demonstrating that this problem is not a new one, nor is it likely to simply go away.”
What can BDR and managed security do to help businesses prevent serious loss in the midst of disaster?
Our topic today is, of course, business resilience. So, rather than getting too hung up on the doom and gloom that often come with disaster and catastrophe, let’s instead look to how business disaster recovery and managed security services can help to mitigate the worst of these events, and prevent serious loss during a disaster and its aftermath.
- Maintain continuity with immediately accessible backups
Losing access to data, or working without key software and app function, immediately puts a business at a major disadvantage. Putting an effective BDR plan in place, and supporting this with cloud-based backups, means that business-critical apps and data can be redeployed without delay.
- Reduce security exposure with more comprehensive monitoring
A managed security provider will provide round-the-clock monitoring, reducing exposure to data and leaving in-house personnel free to focus on what they do best.
- Coordinate efforts to accelerate moves back to normality
The sooner a business can return to normal, the sooner it can begin earning revenue again. Coordinating efforts also reduces the damage to reputation that results from downtime. A robust business disaster recovery plan, ready to be rolled out, will make this process straightforward and easy, while a managed service provider can oversee its deployment, further accelerating the procedure.
- Ensure ongoing compliance and resilience
The aftermath of a business disaster is also crucial. A managed service provider will continue to oversee the business as it navigates this critical stage, ensuring ongoing regulatory compliance and better resilience in the future.
Make sure your business is protected against the worst-case scenario. To learn more about disaster recovery and managed security, reach out to our team at IND today.