Data is one of the most valuable assets a company can have. But what would happen if your business suddenly lost access to its information? From cyberattacks to natural disasters, there are a variety of ways data loss can occur. Regardless of how it happens, no company can afford this kind of emergency. Backup and disaster recovery procedures are the solution.
The Importance of Backup and Disaster Recovery
When it comes to technology, something is bound to go wrong at some point. No matter if it’s hardware failure, a natural disaster, a cyberattack, or human error, the potential of losing your information is ever-present. That’s why you need to do whatever it takes to protect your data.
One of the best ways to ensure you always have access to your files is to backup your data regularly and invest in disaster recovery. Commonly offered by a managed services provider (MSP) like The Logic Group, backup and disaster recovery can get your company back up and running after a catastrophe with minimal interruption. But what are the consequences of not backing up your information?
What Are Backup and Disaster Recovery Services?
Backup and disaster recovery services are preventive measures that act as insurance in the case of a data emergency. The backup half of the strategy involves continually making redundant copies of all your data and backing it up to a server. The disaster recovery half focuses on the process of restoring any data that was damaged or lost after the disaster. Your MSP works with you to make this undertaking as quick and seamless as possible.
The Risks of Not Having Backup and Disaster Recovery
It can’t be overstated how bad business data loss is. That’s why it’s recommended that you do everything you can to defend your information. To make it easier to fully understand the importance of data backup and disaster recovery, let’s focus on what could happen if a data loss event were to occur:
Lost Revenue
Things like product information, research, reports, and more all take time to gather or create. It would take almost an equal amount of time to recover or replace whatever was lost. As you try to fix the situation, you lose even more valuable time that could’ve been spent maintaining your revenue stream or finding new business opportunities.
Damaged Brand Reputation
Your reputation means everything to your brand. It takes years to build customer trust and confidence in whatever products or services you offer. And the better your reputation is, the more customers you’re going to attract. If your clients discover that your business lost its data, this could irrevocably damage the trust they had in your organization. When your clients and partners don’t think they can trust you with their information, they may choose to take their business elsewhere.
Regulatory Problems
Some industries, like the healthcare sector, require businesses to meet certain standards when handling certain information. Regulations like the Health Insurance Portability and Accountability Act (HIPAA) or the General Data Protection Regulation (GDPR) are rather strict about adhering to their rules. If you lose sensitive information, it could put you in violation of these established laws. Depending on what regulations have been violated, you could be forced to pay hefty penalties that can be either disciplinary or monetary.
Direct Costs
The financial danger of losing data isn’t limited to fines and lost revenue. There’s also the cost of recovering the information in the aftermath of data loss. Even if you’re able to recover everything, you still have to pay for the reactive service to restore your files. In the end, a data loss event can be very expensive if you don’t use proactive backup and disaster recovery services.
Protect Your Data With The Logic Group
The worst way to learn about the cost of a data breach is to experience it firsthand. Let the experts at The Logic Group help you avoid the consequences with our backup and disaster recovery services.
Contact us today to learn more.
