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Many SMBs operate with a sense of unrealistic optimism when it comes to data loss and disaster recovery. However, the reality can be quite different and negatively affect your business if you’re not vigilant. As the rate of digitalization increases, so does the risk of data loss. Can your business afford a data-loss incident?

It doesn’t matter if data loss happens because of human error, cyberattack or natural disaster. It can have far-reaching consequences such as:

• Severe downtime: For SMBs, per-hour downtime costs vary from $10,000 to $50,000.1
• Damage to reputation: One-third of customers will end their association with a business following a severe data loss.
• Regulatory penalties: Failure to protect data can draw penalties worth 2% to 4% or more of company turnover.
• Permanent closure: Some businesses are unable to recover from an incident and close permanently.

Navigating backups and training during unprecedent times.

Prioritising backup and disaster recovery for your business is very important. A comprehensive backup and disaster recovery solution provides secure, uninterrupted backup and quick data recovery — with a cloud-based architecture that ensures the company runs seamlessly in the event of a disaster.

Key Terms Used in Backup and Disaster Recovery

The following terms will give you an idea about the type of actions and processes you should aim to implement within your business:

Minimum Business Continuity Objective (MBCO)
MBCO signifies the minimum level of output needed after severe disruption to achieve business objectives. It is the minimum acceptable level of products or services that must be provided during a disaster. Articulated correctly, the MBCO gives guidance on what should be recovered as a priority and how extensive the recovery should be.

Business Continuity – why it matters during Covid 19

Maximum Tolerable Period of Disruption (MTPD)
MTPD is the duration after which the impact on a business caused by disrupting critical services and products becomes intolerably severe. This has to be well discussed and agreed upon with your service provider to ensure your expectations will be met when a disaster strikes.

Visit our Downtime Calculator on our Resources Page to estimate how much each hour of downtime would cost you.
Recovery Time Objective (RTO)
RTO is the time it takes before employees can start working after a disruptive event. It’s usually measured in minutes and derives directly from the MTPD.

Recovery Point Objective (RPO)
RPO is the amount of work that can be lost and will need to be done again after a data-loss event. It’s usually measured in seconds. The shorter this time is, the better, as it means less data will be lost.

Deploy Backup and Disaster Recovery Today

Having an effective backup and disaster recovery solution provides several benefits. Here are the top six:

1. Stay protected against natural disasters
The first half of 2020 alone had close to 200 reported natural disasters. While it’s impossible to stop a natural disaster, you can ensure your data is protected and take the necessary measures to prevent downtime.

2. Minimize the impact of a cyberattack
With the rate of cyberattacks going through the roof and SMEs being a constant target of attacks, it is essential to have a robust backup and disaster recovery solution to protect your business.

3. Safeguard sensitive data
If your business handles sensitive data like Personally Identifiable Information (PII), measures should be taken to ensure it never ends up in the wrong hands. Safeguarding all critical data can build your business’s reputation and prevent regulatory penalties.

4. Quick recovery
It doesn’t matter how disaster strikes. What matters is how quickly your business bounces back. A good backup and disaster recovery solution helps you get up and running as soon as possible.

5. Reduce the impact of human error
From accidental or intentional misdelivery or deletion to corruption of data, employees can pose a security threat to your business. Deploying backup and disaster recovery is, therefore, crucial. You must also train your employees on the difference between acceptable and unacceptable behaviour.

6. Tackle system failure
Unexpected system failure can lead to downtime if you don’t equip your business with backup and disaster recovery.

Remember, it’s your responsibility to protect your business from data loss and its chaotic aftereffects. If you can’t handle this alone, don’t worry. We’re here for you. With our backup and disaster recovery solutions, we can help build a resilient strategy to protect your business against data loss and give you much-needed peace of mind in the event of a disaster.

Get in touch today and our specialists will be happy to assist in all things technology, GRC and cyber security.

Article curated and used by permission.

Sources:

• TechRadar
• IDC Report
• GDPR Associates