Natural disasters such as floods, earthquakes, and snowstorms often restrict, if not put a complete halt on, business operations – many times without warning. These outages and disruptions result in millions of dollars in cleanup and lost business. Natural disasters matched with the myriad of cyberthreats, data breaches, human error and hardware malfunction only add to the possibility that a business will experience some type of costly outage or disruption.
According to Gartner, the average cost of IT downtime is $5,600 per minute. Using this figure, what is the impact of a disruption on your business if down for an hour, day, or even a week? Whatever the number, it validates the need to have a business continuity plan. Every business should have one, regardless of their size.