According to statistics, large amounts of data loss have historically been the kiss of death for many businesses. The old adage of being better off safe than sorry has never rang truer or louder, especially when it comes to keeping data vital to your company (or someone else’s) secure and viable. The numbers are bleak, with 43 percent of companies that experience a major loss of data never reopening, and 51 percent closing within two years. The long-term survival rate for these businesses is a mere 6 percent. Fortunately, having the proper backup and recovery linked to your cloud storage system can be a saving grace, ensuring this never happens.
During the upcoming Cloud4SMB Expo session at the ITExpo – “Cloud-Powered BC/DR: How Will You Handle an Unexpected Disruption?” – experts will address the latest cloud-based Recovery-as-a-Service (RaaS) options and discuss ways to ensure your business will be able to “weather the storm” in the even of an unexpected outage. IDC’s estimates that service outages and significant data loss costs businesses upwards of $84,000 per hour or downtime.
“Enterprise solutions, which were once only available to the Fortune 500 market through two to three solution providers, are now available to the masses. The SMB market has been the biggest beneficiary of this huge technology normalization which has happened,” stated Joshua Geist, CEO at Geminare Incorporated. “It’s easy to see this by recognizing the providers that are in front of you on this panel. They did not exist five or so years ago.”
Geist continued by noting some of the industries where this data preservation is vital, such as legal, financial, government and education, followed by the SMB segment. On the other hand, there’s really no ‘go to’ company to be suggested, as so many of these BC/CR services have become available as of late, with varying offerings. The emergence of these companies is a natural reaction to the increase in cloud adoption over the past few years.
“That is why cloud-based BC/DR solutions have such a wide variety of options, costs and stories and also explains why the large players can continue to offer solutions in the space while they build out cloud ones. Both still work,” Geist said. “However, if you look at cloud-based BC/DR as more of a toolkit to get the job done and not an instantly, no cost miracle solution you can see massive success. Companies that are looking at their BC/DR solution more holistically are absolutely seeing huge success in their capabilities, cost reductions and overall efficiencies.”