Learn how a Recovery Plan Can Help Business Continuity
How a Recovery Plan Can Help Business Continuity For You?
Businesses that are without an adequate recovery plan are simply not playing the odds. The reality is that data loss will eventually happen to your business, and the only questions are whether you’ll be able to restore your data, and how quickly you’ll be able to restore it.
If your business cannot afford to waste time searching for data backups, having a complete recovery plan is essential for your business continuity. In the case of a disaster, a recovery plan may be the difference in resuming work as if nothing ever happened, or delaying business operations due to the loss of crucial business documents.
So what exactly are the consequences for businesses that suffer data loss? A recent Cloud Tweaks article pools together statistics from multiple reports and surveys that quantify the struggles of data loss for small businesses. Some of the results are as follows:
• 93% of companies that lost their data center for 10 days or more due to a disaster filed for bankruptcy within one year.
• 50% of companies without data management filed for bankruptcy immediately following the disaster.
• 7 out of 10 small firms that experience a major data loss go out of business within a year.
• 30% of all businesses that have a major fire go out of business within a year, while 70% fail within 5 years.
Businesses that have a recovery plan, however, are much more capable of surviving after a disaster because they never experience data loss and the large durations of business downtime that come with it. When effective, recovery plans help businesses continue their everyday practices in the case of a disaster.
If your company has a recovery plan already, you should ensure that it’s thorough enough to maintain business continuity. At the minimum, characteristics of a good recovery plan include:
• Using enterprise backup software that can restore data within minutes.
• Instructing employees on what steps to take during a disaster.
• Assigning responsibilities to employees and the IT staff to resume business operations quickly.
• Having a communication plan for the company so employees and clients can stay informed.
If you’re interested in designing a new recovery plan with the assistance of enterprise backup software, contact us.