THE REAL COST OF DOWNTIME

A natural disaster can cause downtime, a cyberattack, or simply human error, which is costly enough when it results from purely accidental failures in your technology. But when downtime results from the nefarious behavior of hackers and other threat actors, the monetary consequences can start to skyrocket at an alarming rate, putting the survival of your business in jeopardy. In addition to financial costs, the reputation of your business and the relationship with your customers may be left in ruins.

According to Gartner, the average cost of IT downtime is $5,600 per minute. Because there are so many differences in how businesses operate, downtime, at the low end, can be as much as $140,000 per hour, $300,000 per hour on average, and as much as $540,000 per hour at the higher end.

THE INCIDENT POSTMORTEM PHASE

Once the storm has passed and you start to feel as though business is back to normal, it is time to evaluate the incident and devise a plan to prevent it from occurring again. This stage of the downtime experience is known as the incident postmortem phase. If the incident’s trigger or cause was quickly remedied, it might feel easy to skip this phase. However, it is crucial to communicate with your team and clients to discuss the incident to understand and strengthen their trust in your business. In this phase, it is also essential to document any policy adjustments. If you need help creating or strengthening your Backup & Disaster Recovery hardware or policies, or would like us to complete a network assessment for your business, then please reach out to us today!

Sources: https://www.atlassian.com/incident-management/postmortem , https://www.the20.com/blog/the-cost-of-it-downtime/

NEED HELP?

If you need help creating or strengthening your Backup & Disaster Recovery hardware or policies, or would like us to complete a network assessment for your business, then please reach out to us today!