Jul 24, 2018
The Cost of Downtime
The majority of businesses today rely on a robust interconnected infrastructure featuring databases, hardware, and software. These features are designed to help businesses streamline their operations and improve overall efficiency levels. However, it can come at a cost when an IT incident occurs.
Despite advances in infrastructure robustness, businesses will always be at risk of suffering downtime. This can bring all business activity to a halt, lasting anywhere between a few hours to days or weeks. When a company cannot carry out its business functions and staff are left with the inability to trade, immediate and detrimental revenue losses are inevitable. As the saying goes, time is money.
How costly exactly? Depending on the size of the organisation, the cost per hour of downtime is anywhere from $10,000 to over $5 million. When you factor in how long it can take to resume normal operations, the impact is apparent. According to IDG, it takes around 7 hours to resume normal operations after a data loss incident, with 18 per cent of IT managers saying that it takes 11 to 24 hours, or even longer. The numbers clearly speak for themselves.
Check out our new eBook: The Cost of Downtime, to learn about the causes of downtime, how to safeguard your business, and more. Download it today!