How Backup and Recovery Keeps You in Business
Having a data backup and recovery strategy and plan in place in the event of data loss, in any form, is vital to the survival of most companies. A data backup and recovery plan is your insurance policy against data loss and breaches.
Small businesses run the greatest risk of shutting down within six months after a catastrophic data loss incident. However, medium-to-large enterprises are at greater risk of being targeted by cyber attacks and ransomware because of the treasure trove of data and information they possess. This in addition to monetary resources they generally have available to pay ransoms.
What Could Happen if Your Business Doesn’t Have a Reliable Data Backup and Recovery Solution?
Your Business Could Cease to Exist
All businesses must understand the value of minimizing risk to their company. The biggest risk to SMBs as a result of critical data loss is extinction. 60% of SMBs that suffer data loss shut down within six months of the data loss incident.
Though it can be difficult to extrapolate the true cost of downtime for enterprises of any size, Aberdeen reports the average cost of downtime to a small business is $8,600 an hour.
It’s important to understand it isn’t just the loss of employee production costing your organization money. It’s also the loss of data. Not to mention the added investment in time over the days or weeks it could take to get your business fully operational again.
There are many different causes of data loss. Without a data backup and recovery solution in place, that data loss could become permanent.
A study conducted by the Ponemon Institute discovered the average cost of data loss in the form of lost or stolen records is roughly $158 per record.
It’s more than just money your company stands to lose. Your organization’s reputation could take a massive hit, and you could lose the trust of your customers and employees in the process.
The Numbers Are Startling
Hurricanes and earthquakes can be very destructive. But most catastrophic data loss events come from mundane sources.
The number one cause of data loss is hardware failure (31%), followed closely by human error (29%). However, businesses must take the latest cyber threats such as the CryptoLocker ransomware family just as serious.
Ransomware attacks are considered the biggest threat to businesses because of how complex the attacks are, as well as the motivations behind them. Enterprises and SMBs alike must understand the threat ransomware poses.
In 2016 alone, there were 638 million ransomware attacks. Businesses paid an estimated $200 million in ransoms in Q1. And while complete figures are difficult to obtain – not all businesses disclose a paid ransom – estimations make ransomware a billion-dollar industry.
Benefits of a Comprehensive Data Backup and Recovery Solution From KJ Technology
It’s important to make sure your data is protected and easily recoverable in the event of a catastrophic equipment failure, natural disaster, or security intrusion. That’s why a custom data backup and recovery solution is so important, no matter the size of your company.
Automated Data Backup with Proactive System Checks
KJ Technology automatically backs up and regularly tests your data so you don’t have to worry about it. This frees up considerable amounts of time and provides greater reliability that your backups are up-to-date.
There’s a common misconception that working with a dedicated IT partner would be more cost-prohibitive than simple break-fix solutions. KJ Technology provides cost certainty over the long term, as well as a proactive approach to data security, data backup and data recovery.
Depending on your industry, you must follow certain rules and regulations. Between SEC, FINRA, NYS DFS, and other very specific and serious rules, there can’t be any lapses in security protocols or best practices when handling data of any kind.
KJ Technology provides data backup and recovery solutions that maintain compliance across all industries.
Working with a reputable and reliable IT partner to develop a comprehensive data backup and recovery plan protects your company from being on the losing end of natural disasters, hardware failures, human error and cyber attacks. The risks to your organization, regardless of size and assets, are far too great to be left up to chance.