Skip to main content

Data Loss Can Cause You to Shut Down

 
 
Small and medium sized businesses today are relying more than ever on IT systems to efficiently run their business, support customers and optimize productivity. These systems house sensitive digital data ranging from employee and customer information, to internal emails, documents and financial records, sales orders and transaction histories. This is in addition to applications and programs critical to daily business functions and customer service.

While corporate-level data losses and insider theft are well publicized, many smaller businesses have also become casualties of data loss and theft. Following a significant data loss, it is estimated that a small-to-medium sized business can lose up to 25% in daily revenue by the end of the first week. Projected lost daily revenue increases to 40% one month into a major data loss.

According to The National Archives & Records Administration in Washington, 93% of companies that have experienced data loss, coupled with prolonged downtime for ten or more days, have filed for bankruptcy within twelve months of the incident while 50% wasted no time and filed for bankruptcy immediately. Finally, 43% of companies with no data recovery and business continuity plan actually go out of business following a major data loss.

Still, a survey conducted by Symantec SMB revealed that fewer than half of SMBs surveyed backup their data each week. Only 23% of those surveyed said they backup data every day and have a business continuity plan in place.

Businesses play on a much bigger playing field than they did two decades ago. Any disruptive technological event - even the smallest of incidents - can have an amplified impact on day-to-day business and profitability. Being proactive with data recovery solutions, and having emergency response procedures in place prior to a disruption or data disaster, is the only way to minimize downtime and soften the impact of such events.

Comments

Popular posts from this blog

Understanding Managed Services and How They Benefit SMBs

Understanding Managed Services and How They Benefit SMBsSmall to medium sized businesses (SMBs) receive a lot of calls each day from slick sales people peddling the next technology trend that's going to save them money and revolutionize how they do business. They're all too quick to caution that if you don't listen to them, you'll fall behind the times, and eventually be swimming in a sea of debt and out of business.

No doubt you've heard, or you've at least read about, the benefits of managed services. Managed services refer to clearly defined outsourced IT services delivered to you at predictable costs. You know the exact IT services you'll be getting and what you'll pay for them. There is no surprise sky-high bill for services rendered. So are solicitation calls that pertain to managed services worth listening to? We think so. Then again, we're in the managed services industry. There may be a bit of a bias here.

How Managed Service Providers Work

Ma…

Is That Email a Phishing Scheme?

Research has revealed that over half of all users end up opening fraudulent emails and often even fall for them. Phishing is done with the aim of gathering personal information about you, generally related to your finances. The most common reason for the large number of people falling for fraudulent emails is that the phishing attempts are often so well-disguised that they escape the eyes of a busy email reader. Here are a few tips that help you identify whether that email really came from your bank or is another attempt at defrauding you…

1. They are asking for personal information - Remember, no bank or financial institution asks you to share your key personal information via email, or even phone. So, if you get an email where they ask for your ATM PIN or your e-banking password, something’s a miss.

2. The links seem to be fake - Phishing emails always contain links that you are asked to click on. You should verify if the links are genuine. Here are a few things to look for when doing…

Be Proactive: How to Avoid Potential Network Failures

Be Proactive: How to Avoid Potential Network FailuresFor small- to medium-sized businesses (SMBs), an IT network failure can be devastating because they don't have the resources of large corporations to bounce back from such disasters. Preparation against such devastation may be the only course for them to avoid failure and survive with the least damage if failure occurs. SMBs must be proactive in recognizing the eventuality of a cyberattack or human error that can cause data loss and disrupt business continuity. This is what needs to be done to help prevent a potential failure.

Be prepared: Being proactive is an essential step for preparation against a disaster. There are two ways to determine how to best prepare to prevent potential failure of your infrastructure. First, you need to identify the weaknesses throughout your systems, and second, determine how you are going to eliminate those weaknesses and protect your network.

Identify the weaknesses: Determine how and why your syst…