How prepared is your business for data loss?

shutterstock_534464599Data loss can lead to putting a business in an unfavourable position. Global market intelligence firm IDC informs us that 40 percent of SMEs don’t back up their data at all! The purpose of this article is to inform businesses of the implications data loss can have to a business to satisfy the need of having backup in place. Data is the backbone of a business that all parties rely on and a loss of data means the business cannot perform well enough to deliver their product and/or services.

Impact on your Customers

The trust of your customers is a factor directly measured by how you handle their data. If a data loss occurs in your business, it could’ve included important records of the customer. A loss of data might not always mean it has gotten in the wrong hands but losing important records of them for example previous purchases would lead to inadequate responses to any enquiries you might get due to a lack of understanding of their account. Chances are if you are a SMB, a good number or atleast some of your customers have been accumulated through word of mouth. It can spread fast and loss of data effecting clients in a negative way could certainly lead to bad reviews thus a negative image on the company.

No room for mistakes is a bad thing!

Storing and handling data without backup and not taking human error into account is playing with fire. If an employee accidentally deletes a crucial document that was being worked on, as a business you must take accountability for not having enough safety measures to tackle genuine or even intentional loss of data. This however doesn’t mean to let mistakes go! It can be used as valuable training for staff to practice caution when handling sensitive data and to think twice because failure to do so leads to negative consequences for both the business as a whole and employee.

At risk with the Law!

It is better for business’s to not take risks when managing data and not backing up your data is a risk. Data loss is not only a personal loss for the business but to all parties involved! Your business losing crucial data can lead to others being disadvantages as well, so much so that they would need to take legal action for you to compensate them. Compensations can be especially high if data that has been lost was stolen or has affected many.

It is beneficial to invest in data backup sooner rather than later to mitigate risks. The British Chambers of Commerce reports that 93% of businesses that suffer data loss for more than 10 days file for bankruptcy within one year and 50% immediately.

Call us today, on 03333 444 110 or drop us an email – hello@spectronics.co.uk to discuss and act on how best your business can benefit from Data Backup.

Posted by Joytan Fernandes on 11-Nov-2019 15:43:48
Joytan Fernandes
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Topics: Cloud Computing, Disaster Recovery, Data Loss, back up

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