World events have always had a big impact on the banks that one finds on Wall Street, but in many ways, the one that coronavirus (COVID-19) has demonstrated has been unprecedented. As such, it almost provides a case study of the importance that disaster recovery planning has for any business… Wall Street institutions included.
Partner IT Blog
Let me ask you this: does your business have a dedicated data backup and disaster recovery system? If not, we need to talk. A comprehensive backup and disaster recovery platform (BDR) can turn out to be one of the most critical parts of managing a business’ IT infrastructure. By having a plan to turn to in the event a serious problem such as ransomware or a natural disaster descends upon your business, you can be better prepared.
You don’t need to be repeatedly told just how important risk management is. If you did, you probably wouldn’t have made it this far. One problem you see from business owners today is that while they understand just how many problems there are--and which ones they need to find solutions for first--they want to grow their company so fast that they overlook potential problems and end up hurting their business as a result. This month, we thought we would talk a little bit about contingency planning and how, if it is done right, it can have a marked effect on your business’ ability to carry-on after a problematic event.
For the modern business, ensuring that you have contingencies in place will go a long way toward keeping you in business if disaster strikes. One of the contingencies many businesses choose to make as part of a business continuity strategy is a disaster recovery plan. Disaster recovery is more than restoring data, it can mean mobilizing people and capital against time. Let’s take a look at two of the core components of a comprehensive disaster recovery strategy, Recovery Time Objective and Recovery Point Objective.
Businesses need to be extremely careful about how they protect their interests, but just in case something unfortunate happens, you want to have measures in place to guarantee that your future is secure. To this end, data backup and disaster recovery is critical. We’ll walk you through what you need to know about implementing data backup and disaster recovery, including the best way to make it happen.
Let’s face it; nobody wants to talk about disaster recovery, as even invoking these words makes the possibility a reality. Unfortunately, this is something that has to be discussed, as your business depends on it. This might seem like hyperbole, but if you knew what is at stake, you’d likely agree with us.
By now, you’ve probably heard about the importance of business continuity and disaster recovery planning for small businesses. According to FEMA, more businesses have business continuity plans than ever before. With so many SMBs looking to secure their future, there are still a few aspects of business continuity planning that today’s business need to comprehend. After all, there is more to it than just data backup. Disaster recovery is something that needs to be planned, practiced and updated.
Few organizations take business continuity planning as serious as financial organizations do. The Federal Reserve Bank (FRB) and Securities and Exchange Commission (SEC), as well as the organizations they oversee, depend heavily on technology for their daily operations. For these establishments, a severe data loss event or significant downtime has the potential to cripple the economy, depending on the severity. As such, they require all of the institutions that they have jurisdiction over to meet certain business continuity benchmarks.
No business owner wants to experience data loss in any way, shape or form, which is why it’s so crucial that preventive measures are taken. If you don’t have protections in place, you may find yourself out of business due to a data loss disaster. While that’s certainly the worst-case scenario, the other consequences of data loss are downright troublesome in their own right.
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