Very often companies say their disaster recovery plan is fool-proof if they have the right software. But outages and IT downtime can have huge negative impact on businesses.Generally, companies face three kinds of risks: External risks include natural and man-made disasters, Facility risks comprise power outages and fire mishaps while data systems risks relate to related to the use of shared infrastructure, such as networks, file servers, and software applications which could impact multiple departments.
Gartner suggests that close to $42,000 is lost every hour due to power outages and financial sector incurs upto $100,000 loss. A 2013 survey of data center operators conducted by the Ponemon Institute gives some idea of how costly data center outages can be at the high end. Seventeen percent of respondents estimated that a one-hour outage would cost their organization more than $500,000, and 6% said a one-hour outage would cost more than $1 million. That is the reason why Recovery-as-a-Service (RaaS) is gaining momentum.
Chandra Pulamarasetti, Co-Founder & CEO, Sanovi Technologies, says, “IT firms are realizing the impact that a disruption of service could have on the revenues, customer confidence and existence in itself. IT departments are getting closely tied in with the business objectives in formulating their business continuity SLAs. They have consensus that a well-planned Business Continuity & IT Recovery set up is integral and has to have high levels of automation built in to avoid human errors as well as dependency on few experts in a crisis situation.”