4 Business-Critical Reasons to Back Up Your Data

Make no mistake, if your business suffers a loss of important data, then it can have a major, potentially devasting impact.

It can lead to the major lead to loss of revenue, loss of clients, damage to reputation and, in a post-GDPR environment, potential legal ramifications.

No surprise then, to hear us say that backing up your data should be an essential, business-critical part of your operations.

The Financial Costs

A 2017 study into corporate data breach in the UK by the Ponemon Institute suggested that the average cost of a major data loss to UK organisations was in the region of £2.48m.

Not an insignificant amount I’m sure you’ll agree.

Losing data in your business comes at a very real, and very heavy cost to the bottom line. This alone should be reason enough to ensure that you are making the appropriate precautions when it comes to data protection and ensuring that you have a robust and reliable backup process to preserve the data.

The Impact on Business Productivity

Bottom line impacts are not only determined by the loss of revenue caused by a data loss incident but also through the impact it can have on the productivity of the business.

When data is lost, then there are inevitable knock-on effects that can be felt throughout the company:

  • Downtime of your IT System
  • Downtime of employees who’ve lost access to the critical information they need to carry out their tasks
  • Time spent retrieving the data, getting the systems back online.

Data loss can often lead to paralysing effect on the operations of a business, affecting everything from facilities management, sales and marketing activity, and order fulfilment – making an otherwise dynamic organisation come to a crashing and unproductive halt.

Damaged the Reputation of Business and Brand

The reality is that data loss may very well NOT be your fault. You may have been hit by a virulent attack that got past your sophisticated security (it does occasionally happen), or maybe you were the unfortunate victim of a natural disaster like a flood or fire.

It doesn’t matter.

If you haven’t put the requisite measures in place to keep your data backed-up so that it can be retrieved when disaster strikes, your reputation in the marketplace is likely to be damaged – culpable or otherwise.

The Legal Ramifications

When we handle sensitive or personal data, there is an obligation on the business to ensure that its integrity is protected and that all measures have been taken to ensure that it’s preserved.

Again, the reason for an attack or breach may not be the fault of the business – but failure to show due diligence in its protection and recovery can leave you exposed to some hefty legal costs and even, in some instances, the threat of prosecution.

Which will add further, and perhaps business critical, costs both financially and to reputation.

Taking the Appropriate Action

Should the worst occur, and your company is the victim of a potential data breach, then you need to have a process in place to ensure that the impact is minimal. 

  • Put in place a regular backup schedule for the business, across all devices. This will likely take the form of backing up to a backup server, the cloud, or through a hybrid solution.  
  • Ensure that you put appropriate security measures in place to protect your data, encrypting all sensitive data so that its integrity can be preserved should an attack happen.

Remember, the protection of any data held by a business is the responsibility of that business. It’s imperative that you have the appropriate systems and processes in place to ensure that you display due diligence.

At Sabre, we work with businesses across South Wales to help them ensure a robust backup process is in place. Call today to find out how we can help with your data security.  

 

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Related blogs: SabreICT

Tagged with: back up data, Disaster recovery plan, IT downtime

Categorised as: SabreICT

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