According to data collected through a survey by the World Bank, nearly one-fourth of companies in the world saw their sales drop by 50% due to the COVID-19 pandemic. This shows how helpless business can be in the face of disruption without a disaster recovery plan.

Although disasters are inevitable, your preparedness for such occurrences will determine how fast you get back to your feet. Considering that danger looms in everything, it is imperative to have a plan in place for when your business comes under fire. 

What Does Disaster Recovery Mean?

Disaster recovery is the organization’s plan to recover from a negative incident. However, its application varies from large-scale to small-scale businesses. Since most companies are heavily reliant on technology, a slight interruption may lead to revenue loss, damage its reputation, or paralyze its operations entirely.

A comprehensive plan is key to ensuring a business restores its assets in the shortest time possible to ensure business continuity.

Components of Disaster Recovery

A robust disaster recovery strategy must contain:

  • Risk analysis, which is the evaluation of any potential risks that can affect your business. Risks like loss of data are eminent in any institution. Identifying loopholes helps you put this and many hazards into account.
  • Business impact analysis. After identifying risks, you then engage in the evaluation of how these risks can affect your business.
  • The recovery point objective is the maximum age of data you can recover from backup storage in the case of a disaster. If you have set an RPO of 24 hours, every 24 hours the system must conduct an automatic backup.
  • Recovery Time Objective helps you set up how long your system can be off without causing any hiccups.

Disaster Recovery Plan

These plans document that highlights how your organization will respond in the event of a disaster. This document describes how to recover Information Technology (IT) assets to ensure business continuity. 

Managed Service Providers (MSPs) can handle a small or medium-sized business’ IT infrastructure and provide expert disaster recovery solutions. MSPs assess your disaster preparedness, identify the gaps, and offer solutions that will keep your business effective, productive and safe.

MSPs are a green light to many business owners as they offer professional IT services without breaking the bank. They provide expertise in IT matters and can help your business both before and after a disaster. 

More than recovery, MSPs can prevent future disasters like malware attacks. They also offer high-end encryption to your files and other security measures that keep unauthorized eyes away from your data.

Bottom Line

Business continuity is a crucial aspect of any organization looking to survive in this competitive climate. All businesses, small or big, require a Disaster Recovery Plan to guarantee the safety of their data. As a business owner, you should consider applying these best practices to safeguard your business.

Need help creating an effective disaster recovery plan? Contact Telewire today for professional assistance.