Warren Buffet famously said, “It takes 20 years to build a reputation and five minutes to ruin it.”
One of the quickest ways for a business to ruin its reputation is with prolonged downtime during a disaster.
While disasters can happen at any time to any business, how a business handles recovery determines the true cost of downtime. Downtime can be measured in the loss of productivity, revenue and oftentimes, reputation.
A recent survey by IHS, Inc. found that “in aggregate, information and communication technology downtime is costing North American organizations $700 billion per year.”
To ensure rapid recovery from any disaster, it’s critical for a business to have a full understanding of Recovery Time Objective (RTO) and Recovery Point Objective (RPO) as part of its business continuity plan.
Axis Business Technologies is Colorado Spring’s data backup and business continuity experts.