Why Having a Good Backup Plan Can Save Businesses Money in the Long Run

Why Having a Good Backup Plan Can Save Businesses Money in the Long Run

Data is the most valuable resource for many businesses around the globe. Companies have a huge amount of data stored on their systems, which includes their customer and financial information. Therefore, they invest a massive amount of money in data protection and security. 

But, many ignore the fact that data can become corrupted or lost. As a result, it can cause a significant loss to the business and result in downtime. To avoid this problem from the beginning, you need to have a reliable data backup and recovery plan. 

By securing data backup and recovery services from a reputable company, you can avoid many of the costly consequences that result from data loss. Let’s go over some benefits of having a data recovery and backup plan.

Advantages of Data Backup and Recovery 

Saves You Money 

Downtime due to data loss is expensive. It causes some smaller companies to go out of business entirely, depending upon the severity of the data loss. When ransomware is involved, a company often loses access to all data stored in its connected systems. 

In 2021, 80% of surveyed Australian organisations were hit with ransomware. 

Having data backed up and easy to recover, reduces the risk that you’ll have to pay a ransom to an attacker and mitigates expensive downtime. 

Ensures Continuity of Business Operations 

Another great thing about a data backup and recovery plan is that it ensures there is no hiccup in your operations. Companies can retrieve their data from the backup source in case of loss or breach and continue with work. 

It ensures there is no disruption in the workflow and that things continue to go smoothly. Also, there is no impact on the main data source since the data will only replicate when there is a change. Therefore, your employees can continue to work without any issues. 

Helps in Gaining Customer Trust 

A data backup and recovery plan improves your business image and helps you gain the customers’ trust. Customers want to be sure that their data is safe with you. They have concerns regarding how data loss and breach can lead to issues, such as identity theft. With a proper data backup, you can guarantee your customers that their information is safe.  

Simplifies Data Management Process 

Companies also spend a massive chunk of their budget on data management. They have to store data in different places to keep it safe. It makes it time-consuming and costly to get data from various platforms and software. However, that problem is solved due to the data recovery and backup system.

All the data is available on a central platform that employees can access. You can also keep a check and balance on who can get access to the database. Therefore, it helps you save time and money in the long run.

What Will Happen If You Don’t Have a Data Backup and Recovery Plan? 

Data breaches and cyber attacks can cause a significant loss to your business. Also, data losses can be a result of human errors or negligence. In any case, you will have to go through costly and lengthy processes to retrieve it. Data loss will also upset the established order, and your business might not be able to serve customers properly. 

Therefore, your business can lose clients and revenue in the short run because of not having a data backup and recovery plan. If we talk about the long-term impact, your business reputation will take a hit as customers might lose trust. 

You would have to inform your business stakeholders about the data loss. The company would have to notify all parties that have been affected by data breaches per applicable data privacy guidelines. This process will also take up a lot of your time and money. 

These are just a few consequences. So, it is in your company’s best interest to have a comprehensive plan for business continuity.

Find a Reliable Partner for Data Backup and Recovery 

GKM2 understands the importance of having a data backup and recovery plan. That is why we offer robust solutions to your business to ensure you can keep your data safe. 

Feel free to contact us anytime, and we will be more than happy to assist you! Or give us a call at +61 2 9161 7171