How DRaaS Can Pay for Itself After a Single Incident
In this blog, we look at the threat landscape and how much a small investment in Disaster Recovery as a Service (DRaaS) can save you over the lifetime of your business…
Rather than picking up the pieces after an unexpected incident, DRaaS lets you proactively plan for and respond to a failure event. Whether it’s a small disaster like hardware failure or a huge disaster like a fire, hurricane or flood, DRaaS keeps you covered. With a better way to respond, you’re less likely to lose data or suffer from downtime – both of which can be costly enough to shut a business down.
Threats to Business Are Real and Growing
Business data has always been at risk from a myriad of digital attacks. Here are just a few of the threats businesses face when it comes to protecting data.
- Ransomware is becoming more sophisticated
There’s an all-out war happening in cyberspace, and when it comes to fortifying your defenses, your business is on its own. Ransomware is a particular threat as it has accounted for 81% of financial cyberattacks this year. And, while ransomware attacks may not be increasing in volume, they are becoming more sophisticated. You have to be ready to prevent ransomware, but if the worst happens and your systems get locked down, you have to be able to remediate them quickly.
- User error is a persistent problem
User error has always been the bane of security admins, but it has actually gotten worse. Spurred by COVID-19, it’s estimated that some 36 million workers will be working remotely by 2025. With so many workers scattered about, the challenge of keeping systems secure and data safe is bigger than ever. And so how do you meet the challenge?
- Climate change is bringing new disasters
According to NASA, a warming climate will lead to changes in precipitation and weather patterns, including more frequent and greater flooding for example which we have seen a lot of in the UK over recent years. Natural disasters might not be a big threat to you today, but they could be soon.
DRaaS it’s a critical line of defense if the worst does happen and so can act as a lifesaver for your business. But how do you rationalise the cost?
DRaaS Offers Protection That Pays for Itself
When disaster strikes you can help minimize your risks by having a solid disaster recovery plan in place. Paired with set recovery objectives and the right tools, a DRaaS solution pays for itself by helping you prevent data loss and downtime. According to Gartner, downtime can cost as much as $5,600 per minute. Do you know how much would you lose during a downtime event?
Calculating The Cost of Downtime…
Let’s look at a quick example to show just how expensive one failure event can be. We’ll use simplified, round numbers to illustrate the point, but, of course, the reality is more complex.
- Let’s say on average your company bills $100 per hour.
- You have 10 employees and about 75% of their time is billable to clients.
- This means your business is earning $6,000 for an eight-hour day, or $750 an hour.
Now let’s say your systems are all knocked offline and your staff can’t work for four hours. That adds up to $3,000 lost to downtime. But that’s just the start. Say you lose crucial work your team produced. Now you’re also contending with data loss. Add the cost of four hours of lost work and four hours of lost productivity and your total loss is $6,000. And that’s from a relatively small downtime event. Plus, that doesn’t include any damage to your reputation that may result.
Whilst you may be trying to jusify and quantify the cost of DRaaS, it’s worth considering that an unexpected event causing downtime could have been avoided with the right Disaster Recovery solution in place.
Downtime and data loss is costly for any business. It should be obvious that DRaaS is worth considering for your business, large or small. Think of DRaaS as an insurance policy. Pay a little now to avoid paying a lot later on. All it takes is one failure event.
And, if you’re looking for a solution that keeps all of your bases covered—no matter how severe the failure—consider booking a demo with a NETprotocol using the below contact options: