Data is the most valuable resource in any business. These data include client history, supplier information, clients’ bank account information, and more. A business cannot operate or scale up without this information. Hence, it is critical that you protect this data with a data backup plan. Here are seven reasons why a data backup plan is important to your business.
Unfortunately, corporate theft has been rising steeply. According to research, 85 percent of employees admit to taking data and organization documents they developed while 30 percent admit to taking company data and documents that they did not develop. In the case of layoffs, 20 percent of employees state they would be willing to take company information as a result of the anger they are experiencing. They also indicated that there is a high likelihood that they would hand it over to competitors. This means that when staff members are stealing data from you, they are attempting to harm your business. Hence, if you have not backed up the data, it could be deleted completely.
Embracing the Future
Companies that fail to embrace technology advancements normally become obsolete. Storing information locally and risking the loss of critical company data is a bad way of running a business. An online data backup service lets you and your staff access company information on demand from any location. Therefore, your team can work remotely, collaborate on the same tasks or document, and maintain the integrity of the data. One of the most significant issues for organizations that have not upgraded their systems is incomplete or corrupted data. It is common to have many employees have edited copies of the same data saved locally on their PCs. Each of these employees believes they have the most updated and relevant version.
When you have a data backup solution for your organization, you have the edge over your competitors who lack the solution. Many businesses around the globe have experienced reputation damage and huge losses after losing business information. For instance, Talk Talk Co. lost 60 million pounds after a significant hack in 2015 where they lost 101,000 clients. The hack accessed the personal data of over 156,000 customers, which made many clients migrate. In 2016, Salesforce lost customer data and four hours of transactions. Additionally, Bank of America, Barclays, and Lloyds have also had their share of malicious data attacks that led to the loss of customer data. These kinds of breaches decrease trust in the company, and the client relationship is affected. The confidence of future clients, shareholders, staff, and investors is also impacted. If you can guarantee your clients that you have a secure data backup plan, you remain ahead of companies that can’t claim the same.
Unluckily, natural disasters are unpredictable and can devastate your business. Around the globe, natural disasters have ruined technology systems of major companies. These disasters include tornados, earthquakes, mass flooding, extreme heats, and deep freezes. Additionally, there can be fires and electrical faults. In case you lack a data backup plan, and you try to get back to business after a disaster, you will experience big challenges. A solid backup solution protects the reputation and operations of the business. A business can access critical data from the cloud, and they can continue with business as usual.
Employees are susceptible to making significant mistakes that can cost your business. But with a corporate data backup solution, any mistakes regarding company data can be corrected. Staff members sometimes overlook a critical step in a particular process. They can accidentally delete data or enter the wrong information. As essential as it is to have efficient processes and quality assurance programs in place, it is also critical to have a cloud backup plan. Some employees forget their PCs in public transport while others accidentally pour tea on their PCs, which can destroy the hard drive. A data backup plan can aid you in avoiding these errors from affecting your business.
Failure of Technology
Over the last decade, there have been critical adjustments in technology that people use. Many organizations are now running free of paper. Hence, critical documents and data are stored locally on computers. But the challenge is that all machines fail eventually. Desktops normally get infected with viruses and ransomware, power surges fry hard drives, and laptops can stop working. Since businesses normally rely on information, these events can be bad for operations. Informing your clients about data loss or service interruption can hurt your business. But a cloud data backup plan can prevent all these from harming your company.
Downtime can lead to loss of business. Downtime can lead to unavailable service to clients and production stoppages. Without a data backup plan, you will end up doing everything possible to restore operations, including rebuilding from scratch. But reconstructing a company’s applications and database from the start can take a long time and consume massive resources. You can’t afford to have a prolonged downtime since clients will be angry and disappointed. Once this happens, clients will leave, and you will lose business. Hence, you need a data backup plan to ensure that your downtime takes the shortest time possible.
If you want to maintain the trust of your clients, a good reputation, and a competitive edge, you need a good data backup solution. The services of your business or your manufacturing processes will not be affected despite attempted hacks.