Given most companies' reliance on IT for daily operations and for sales, it's no surprise that outages of mission-critical IT systems typically means lost productivity and lost revenue. What may be surprising to some are the findings on just how big these costs are -- and that they aren't just for during the time of the outage, but also during the period while systems and data are being restored.
King said, "The numbers are somewhat shocking, the possible losses of billions of dollars, distributed among many companies. On the plus side, smaller businesses can take comfort in the fact that they have more options and opportunities than ever to keep their businesses up and running, including better hardware, and new cloud and managed services."
The results, according to Fairbanks, "mean that the ROI for accelerating data recovery may be greater than people realize. It's important for small businesses to look at the impact of outages and the ROI for faster recovery, rather than just the hard cost of recovery offerings. ROI on data protection and recovery can be realized much faster if you take these statistics into account."
"Over 50% of the companies surveyed do not have a good Disaster Recovery plan in place," Fairbanks noted. "But downtime is avoidable if there's a good plan and solutions in place."