3 Reasons Why Having a Disaster Recovery Plan Is Important for Your Business

Disaster Recovery Plan

One reality that all business owners have to contend with is their organizations’ vulnerability to disasters or adverse events. A disaster can come as a consequence of a so-called “act of God,” such as a flood, an earthquake, or fire. It can also be a result of accidental damage from human error or intentional damage from criminal actions like arson, vandalism, or cyberattacks. Either way, to a business that isn’t sufficiently prepared to face it, a disaster can wreak long-term devastation and hamper profitability and growth.

Despite this, too many business owners hold off on making detailed disaster recovery plans or upgrading their backup and recovery technologies until the very last minute. But by then, it may already be too late to salvage their data. If you head a business or are involved in its decision-making, take care not to make this same mistake. Here’s why you should formulate a company-wide disaster recovery plan and make it your priority to invest in disaster-proof technologies like a backup and disaster recovery solution.

It Cushions Against Major Data Loss

In the event of a disaster, a company could lose access to its physical records, the data stored in its disk drives or private servers, or both. Without proper backup and recovery initiatives in place, this data could be difficult to get back. In the worst-case scenario, it could be lost forever.

Aside from hampering key business functions, such an event could jeopardize business staff, the business’s customers, and everyone else involved in the business’s ecosystem. The loss or compromise of the business data also makes each of these stakeholders extra vulnerable to security risks like hacking, identity theft, and fraud.

It is essential that you protect your business from data loss and other problems associated with it by disaster-proofing its systems. Consider a cloud solution from a disaster recovery-as-a-service (DRaaS) provider for further disaster proofing and round-the-clock recovery assistance. Then, pair such a solution with other initiatives to beef up your data security, such as data encryption and the use of firewalls.

It Minimizes Business Interruption

Disastrous events are both stressful and costly for the companies that experience them. They often cause business interruption, or a sudden halt in operations due to loss of data or significant damage to a business’s hardware and software. The longer a business goes without being able to serve its clientele as usual, the more money it stands to lose.

Business interruption may be inevitable in the event of a disaster, but concrete steps should be taken to ensure that it doesn’t last too long. Your plan should facilitate a swift and complete recovery of your assets, as well as flexible alternative work arrangements for your staff while your usual arrangements aren’t feasible.

It Future-Proofs Your Business for Future Disasters

Last but definitely not least, a proper disaster recovery plan will serve as more than a temporary measure to a disaster that’s currently unfolding. The best plans also prepare businesses to confront future disasters with cooler heads and greater clarity of action. Additionally, such plans allow business stakeholders to achieve foresight over their circumstances and avoid getting their organizations into further trouble.

Your disaster recovery plan plays a huge part in your business’s future growth and success. It will improve your overall resilience in the face of adversity and ensure your agility in a sometimes unpredictable and unforgiving business landscape.

Notes on Formulating a Complete Disaster Recovery Plan for Your Business

The three points above underscore the need for all businesses—especially those that have recently become more data-driven in nature—to implement their own disaster recovery plans. But what should your plan include, and how do you go about its implementation?

An efficient disaster recovery plan should contain at least two things: a recovery time objective or RTO and a recovery point objective or RPO. When deciding on your RTO and RPO, as well as company directives for meeting these, try to be as specific as possible about your ideal time to recovery and how many of your assets you’ll need to recover in order to consider your business functional again.

On top of formulating instructions for your plan, don’t forget to designate point persons for disaster-related emergencies, conduct briefings and training sessions with your staff, and explore other safeguards like business insurance.

Final Words

No one can predict when a disaster may strike or how severely it may hit a business. That said, decision-makers in the company have full control over its levels of preparedness. Knowing that, don’t be remiss in creating a disaster recovery plan or updating the one you already have. Having a plan in place, and being able to implement it without further obstruction, can put your business back on track towards realizing its long-term goals.

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