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Are You Prepared for Business Downtime?
Downtime is something many business owners don’t even think about. A Gartner study found that 40 percent of organizations rated their ability to recover from disaster as “fair” or “poor” and that the cost of just one hour of downtime ranges from $8,000 for a small business to $700,000 for an enterprise. This statistic is troubling enough but doesn’t include other factors like the damage downtime can cause to a company’s brand reputation, and the possible impact to customer revenue.
We’ve pulled together this infographic on business downtime. This visual concept includes the following:
- Causes of downtime
- Types of downtime
- A formula for calculating your business downtime cost
Download the infographic here: Business Downtime Infographic
The fact is, downtime is more common than you may think. The IDC found that 71% of U.S. businesses in a recent survey experienced less than 10 hours of downtime per year. Considering the average cost in even 1.5 hours of downtime (Business Downtime Infographic), it has become critical for CIOs and CEOs to routinely re-evaluate their application and site failover capabilities. If your Disaster Recovery plan is not tested quarterly, you run the risk of having a plan in place that will not work in the event of an outage. Another significant statistic in the IDC study confirms that companies small and large do not test their Disaster Recovery plans at all or they only test once a year. Of companies with under 100 employees, 35% have never tested their DR plans.
Protecting your business from unnecessary financial loss takes a proactive approach. Disaster Recovery as a Service (DRaaS) makes it easy to set your business up for success and not loss.