The following study embarked upon by Gartner reveals how terrible it can get for a business if it experiences downtime in its IT operations:
“40% of all companies that experience a major disaster will go out of business if they cannot gain access to their data within 24 hours.”
Another by Forrester Research reveals that cost per hour of downtime for a typical company may vary from $ 10,000 to $ 1 million!
You might wonder why that could cause a company to go out of business. I bet you, it comes as a result of a string of events.
Some of this string of events include:
- Employees not having access to their emails
- Website not loading
- Online orders not going through
- Payments not being processed securely
- Business control systems down
However, here are 5 major damages an IT infrastructure downtime can do to your business:
- Huge amount of money valued in man-hours would be lost
- Sales revenue gush away in loss.
- Weakens competitive advantage that leads to customer defecting to the next alternative.
- It deflates employee and partner satisfaction.
- Gives the company a bad reputation.
This suggests that downtimes are very expensive, no matter how short the period is.
In subsequent posts, we will explore how to prevent and limit the damage of downtimes.