Having a data backup and recovery plan is essential for the overall success of your business. Data backup generally involves duplicating your data, either virtually or physically, so that if anything happens to it, you still have something to turn to.
Without a data backup plan, your business risks suffering from permanent data loss, costly downtime, and unnecessary expenses. That said, here are five critical reasons for investing in a comprehensive data backup and recovery plan for your business.
No Data is Safe
No matter the type or size of your business, your data will always be susceptible to threats, which include malware, viruses, and accidents. Cybercriminals don’t discriminate—they’ll attack any business.
They do so to gain access to sensitive data, to settle scores, or just for fun. Small businesses are especially vulnerable to cyber threats. In fact, at least 40 percent of all cyber-attacks specifically target small and medium businesses.
Threats are Everywhere
Businesses focus largely on protecting themselves against cyber-attacks, malware, and hackers oblivious to the fact that physical disasters like fire and floods are also a threat and can cause irrecoverable data loss.
Moreover, if you don’t have a comprehensive backup in place, a simple theft of a storage device could easily lead to a massive data loss. A hard drive failure or any other hardware malfunction may also result in a loss.
Compliance with Legal Requirements
The ever-increasing rise of cyber-attacks across the globe has caused an increase in regulatory oversight. Businesses are required to comply with various legal standards and maintain secure systems to ensure the security of sensitive customer information.
You should consult a reputable IT services London company for the right security measures to ensure your business information and customer data are kept in a safe and reliable, yet conveniently accessible, location.
Economic Losses Can Be massive
In today’s digital world, data is an integral component of businesses and downtime caused by unfortunate system disruption or data loss is expensive. With downtime, it will be incredibly hard to serve your clients as you won’t have access to mission-critical business applications.
In fact, businesses lose hundreds of thousands of pounds on average every hour due to downtime. Therefore, a backup and recovery plan is essential to protect your data against unplanned disruptions.
Your Reputation is at Stake
Customers tend to avoid businesses that have suffered a cyber-attack. You may even face a legal suit from customers who’ve been affected by the attack. This loss of reputation as a result of a cyber-attack can contribute directly to a loss of business.
Having a data backup and recovery plan ensures that you can recover your data in the event of a major data failure. These data failures can be a result of hardware or software malfunction, data corruption, or a human-induced incident such as a malware infection or accidental deletion of data, and they can be costly to your business if you don’t have a proper backup plan.