The High Cost of Business Interruptions
Disaster planning is a crucial part of any company’s business continuity plan. In 2019, the economic losses from 409 total natural disasters exceeded $232 billion USD, and only a fraction of these losses were insured. And while it may be tempting to think that these disasters only impacted a small sliver of companies, that is not the case. Nearly three-quarters (71%) of enterprises experienced a downtime event last year.
Disaster planning can recognize and mitigate the risks related to business interruptions to ensure continuous operations. With the high risk of downtime and related financial losses, disaster recovery planning should be a high priority for most business owners. These plans include vital information about restoring operations; therefore, the plans often include information ranging from the individual team member responsibilities to the identification of key data and equipment required to get the business up and running again.
Disaster Planning is Evolving Along with Technology
However, remote work strategies and cloud computing are two elements increasingly being seen as part of disaster planning. The number of companies offering remote work or hybrid schedules has increased dramatically in the past few years, with 16% of companies reporting that they are fully remote and two-quarters of all U.S. employees working remotely at least part-time. And these statistics only refer to companies where remote operations are a normal part of the organizational structure. Many companies that do not offer remote working options may rely on a remote work strategy in the event of a disaster.
Just like physical workplaces, virtual workplaces are not immune to disasters or other business interruptions. Fortunately, many cost-effective options, such as cloud computing, in most remote environments can protect business continuity. And with a third of companies still increasing their remote workforce, incorporating a remote working strategy is more vital than ever before. A remote working strategy can ensure that your team has the right communications technology and other resources that remote workers need, whether they work remotely under normal circumstances or not.
Cloud computing is also becoming a more integral part of disaster planning. Businesses today are using the cloud to provide fast, cost-effective, and easy disaster recovery solutions. This solution is often referred to as cloud disaster recovery, allowing organizations to back up and recover their vital data and tools so that a disaster recovery plan may be quickly implemented if a disaster occurs. This addition to a disaster plan can transform your ability to restore operations and help you achieve this goal in minutes rather than days or weeks.
Additional benefits of cloud disaster recovery include:
- Flexibility: Relying on cloud services for disaster recovery provides organizations with greater user control in a cost-effective way.
- Adaptability: Cloud disaster recovery provides adaptability by allowing organizations to realign and reallocate resources on demand.
- Availability: Cloud architecture often relies on multiple data centers to support disaster recovery plans. This feature ensures that the apps, platforms, and data resources are available when your company needs them.
- Scalability: Cloud resources let your business scale its IT resources up or down with little effort, ensuring that you only pay for the resources you need.
- Reliability: Cloud resources’ redundancy ensures that data is always there and accessible when you need it. Even if a natural disaster hits the cloud resources in one area, the redundant locations can be relied upon to provide the resources you need.
As you can see, there are many benefits to incorporating a remote work strategy and cloud computing resources in your disaster recovery plan. And while these changes often contribute to enhancing your business’s ability to rebound after an event that would otherwise cause a business interruption, they do introduce additional concerns. For instance, moving data to the cloud may come with compliance concerns. Additionally, your company may lack sufficient security resources to support remote working. It’s often beneficial to review your current disaster plan and identify additional needs or resources that must be fulfilled before relying on cloud computing or a remote working strategy during a disaster.
Fortunately, many managed IT service providers can help you navigate the complexities that come with both remote working and cloud computing. They can help you understand the next steps and offer solutions that meet your budget and business needs. For more information about managed IT services and disaster recovery, contact Sagacent Technologies today.
Sagacent Technologies offers technology management and support, including proactive/preventative maintenance, onsite and offsite data back-ups, network and security audits, mobility solutions, disaster planning, and emergency business resumption services. The company serves clients of 10 to 150 employees within the Silicon Valley region.