Instead of waiting for an IT disaster to strike, proactive business owners implement comprehensive IT disaster plans to reduce, mitigate and plan for potential threats. You may be prepared to deal with extreme weather, but even in Minnesota, it is still more likely that everyday events, data breaches or human error will cause IT failure.
Think back to 2017 when millions of British Airways passengers were stranded because an employee accidentally cut off power to the system. This man-made IT disaster cost over $100 million and underscores that it is impossible to predict when or how an IT disaster will unfold.
Many business owners understand this and create proactive technology plans to prepare for IT disasters. Here are four common reasons proactive business owners do not wait for the worst case scenario before preparing an IT disaster plan.
Business owners who view technology as a strategic tool see the long-term return on investment, not short-term costs, when creating technology plans and budgets. For them, protecting technological assets is an ongoing investment.
The up-front cost for implementing things like a proper backup and disaster recovery solution may seem high, but it pales in comparison to what companies can suffer when the worst case scenario hits. One of our new clients came to us after an improper backup caused the company to lose six weeks of data. The costly recovery process took months to complete, and they suffered a significant loss of productivity and revenue.
When budgeting for IT, it can be tempting to choose a provider who only charges you to fix what breaks or malfunctions.
But if you are only paying someone to fix what is broken, it is in his or her financial interest for your IT systems to fail. Your business may suffer multiple IT failures in one year, or new problems can arise as you troubleshoot the original issue. Suddenly, your low-cost, hourly IT provider hits you with a bill that exceeds what you would pay for ongoing monitoring and maintenance from a managed IT service provider.
The costs of waiting for an IT disaster could be 30X higher (potentially $143,000) than if a business created a plan and invested in current and proper solutions.
How often have you delayed updating an application or upgrading your server? It may seem harmless but constantly putting software and hardware updates off until tomorrow can have negative consequences.
Out-of-date systems will not have the newest security features, leaving your business more vulnerable to attack. Older technology is slower, or may not run as well, making the employees who rely on that system less productive.
In addition to backup and recovery, a strategic IT disaster plan ensures your systems are up-to-date. It will also sync the schedule for updating and replacing hardware and software to ensure maximum compatibility and minimum downtime.
“Too small to hack” is not the mindset any business owner should have. In reality, small businesses are especially vulnerable to cyberattacks because these companies tend to have minimal security, making it easier for hackers to access valuable data.
The threat data breaches pose is growing. Research from the Ponemon Institute shows an increase in the frequency and cost of data breaches. After a hack, businesses pay to investigate the cause and lose money as employees divert attention to recovery efforts or deal with downtime. A data breach shakes customer trust in the company and can have long-lasting, costly impacts on brand reputation.
Having seen that 90 percent of clients have some level of information for sale on the dark web, we know that it is important for businesses to implement strategies now that will prevent breaches in the future.
Frequently, clients seek our services and want to create a technology plan after experiencing an IT catastrophe. Instead of waiting until after a worst case scenario hits, you can contact us at (952) 258-8200 or online to learn more about how a technology plan will help you avoid an IT disaster.