At the end of March, the business and technology world celebrated World Backup Day. World Backup Day reminded us of the importance of ensuring that all of our business systems are properly protected, and when a disaster strikes or one of our co-workers deletes a file by accident, we are prepared to replace what was lost.
One of the latest statistics we recently stumbled across was that 72% of businesses that suffer even the slightest data loss never fully recover. Not only can data loss be extremely frustrating but it can also be very expensive.
We often hear about small companies that suffer huge financial losses because the owners neglect or refuse to implement business continuity solutions or even very basic backup solutions. The losses could have been prevented with small monthly investments.
For example, one small trucking company never really understood how important backup was until a disaster struck one Saturday morning. The trucking company’s software database grew rapidly and one day just outgrew itself. This caused the complete trucking system to crash, which resulted in the loss of a week’s worth of work. We were able to recover the trucking database, but the owners had lost a whole week’s worth of data and about $15,000 in additional labor costs to re-input all the information from the past week.
There are many hidden costs related to not having a trustworthy data backup system. What are you willing to risk, and how much can you afford to lose? Our trucking client could not purchase the new maintenance tools its mechanics needed because of this loss of data.
Collateral damage from this loss: the company’s best mechanic went to the competition.
Think of a backup solution like you would insurance. We all know we need to have the right amount of insurance to protect our vital personal assets. Data backup and recoverability protect our vital business assets.
A backup solution can protect you and your business and, as in the trucking company’s case, prevent you from losing one of your most valued employees.