Insurance is a normal procedure when it comes to one’s health, or when buying a new bike. In the same way, every business takes the utmost precaution to implement strong cybersecurity strategies and create policies that will ensure safety. But, what precaution do you take when it comes to your business and the high-possibility of data theft? This is where disaster recovery comes in to ensure business continuity.
3 Things that can happen in the absence of disaster recovery
1. Effect on Business Continuity
When business continuity is affected, that means you have zero-productivity, leading to a major loss. This threatens not just daily profit-margin but also employee productivity. Without a disaster recovery plan, it becomes impossible to recover with minima damage.
2. Loss of assets
“94% of companies suffering from a catastrophic data loss do not survive – 43% never reopen and 51% close within two years.” – University of Texas
The loss of data can result in extreme financial and reputational loss. The type of loss depends on the impact of the breach. However, the breach can be contained and resolved with the help of a strong disaster recovery plan.
|Learn how a DoS Attack can affect Business Continuity from cybersecurity expert, George Dobrea, Founder and CEO of XEDUCO Institute.
3. Extra expenditure
The average cost of a data breach is $3.92 million, which has increased 12% over the past five years. It is clear that the cost to recover from a data breach is extremely high, which makes it difficult for most businesses to recover. Many factors influence this cost.
The more sophisticated the attacks are, the worse the consequence. Pre-planned strategies are not enough for organizations, especially for small businesses that can’t spend much to build a secure and safe cyber environment. Reports suggest 60% of small businesses face bankruptcy within six months of a cyberattack. Learn more from Tim Foley, Director of Information Security for the Dataprise CYBER division:
Learn to recover from a disaster
EC-Council’s Disaster Recovery Professional (E|DRP) program will give you an in-depth understanding of business continuity and disaster recovery principles. It will also train you to secure data and to recover and store an organization’s critical data at the time of disaster.