The downtime after suffering a disaster almost always puts an organization in a compromising position. Downtime not only means a pause in your income-generating activities, it may also lead to the loss of clients. After all, you can’t expect a consumer to not look for a different provider while your business is incapacitated.
Let us say that a hurricane ravaged your office (we hope it never does). On your own, it might take weeks or even months to fix the workplace, get electricity and other utilities running. Not to mention geting new computers and other equipment, and repairing the necessary technology and infrastructure. With the help of a DRaaS service provider, all these things that you need to be up and running again will be provided in a few hours to a few days.
Establishing and maintaining a Disaster Response (DR) department can be very costly. Most Small and Medium Enterprises (SMEs) just make do without it despite the huge risks involved. The capital expenditures and overhead expenditures make up most of the cost.
But with DRaaS, both upfront and overhead costs are eliminated by adopting DRaaS. Your management will also be burdened with overseeing that the DR department remains capable which may include getting new technology and equipment, hiring new people, hiring consultants, etc. With DRaaS, you pay the monthly fee, and everything is taken care of.
An internal disaster recovery department’s capabilities are limited by the budget and attention you allot it. You will be able to hire average level employees and maintain moderate level technology at most. A DRaaS service provider, on the other hand, employs the brightest minds and most experienced professionals. Partnering with it will allow you to leverage all of these resources. From planning to delivery, only the best will manage your disaster response.
Once you build your own DR department, you are stuck with its current level of capabilities unless you are willing to spend significant resources for employee training or technology and equipment upgrades. With DRaaS, on the other hand, you will often be given several solutions to choose from.
Let’s say for example, the service provider offers Low, Moderate, and High level DR solutions. Picking the Moderate solution does not prevent you from switching to the High level or even the Low level one in the future. Going back to our hurricane example, this means that you can take advantage of High level DRaaS coverage during hurricane season, and then switch to Low level DRaaS coverage during the rest of the year.
The average cost of a data breach in the United States is $8.64 million, which is the highest in the world, while the most expensive sector for data breach costs is the healthcare industry, with an average of $7.13 million (IBM).
The internal team was energized. With the Level 1 work off its plate, the team turned its attention to the work that fueled company growth and gave them job satisfaction.
The cost of cybercrime is predicted to hit $10.5 trillion by 2025, according to the latest version of the Cisco/Cybersecurity Ventures “2022 Cybersecurity Almanac.”.
It takes an average of 287 days for security teams to identify and contain a data breach, according to the “Cost of a Data Breach 2021” report released by IBM and Ponemon Institute.
More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.
Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).
40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).
We did a proof of concept that met every requirement that our customer might have. In fact, we saw a substantial improvement.
We did everything that we needed to do, financially speaking. We got our invoices out to customers, we deposited checks, all the things we needed to do to keep our business running, and our customers had no idea about the tragedy. It didn’t impact them at all.
“We believe our success is due to the strength of our team, the breadth of our services, our flexibility in responding to clients, and our focus on strategic support.”