Data loss is detrimental to any business, especially in this technology-driven age. Having a Business Continuity and Disaster Recovery (BCDR) plan in place can save a business from suffering the financial blow of losing data, whether it is due to cyberattacks, human error or natural disasters. Many business continuity management consulting firms offer BCDR solutions that can protect a company from the business and financial impact of data loss.
Business Continuity vs Disaster Recovery: What is the Difference?
Business Continuity and Disaster Recovery are two different, but closely related, disciplines that a company needs in order to mitigate business risks and recover from the effects of data breach or loss.
Business Continuity Solutions provide a proactive framework which combines the best practices and procedures that an enterprise must implement to ensure that the business will continue to function when an unexpected interruption happens. Business Continuity planning usually covers the following elements:
- Identification and analysis of threats
- Creation of recovery teams, assignment of responsibilities and establishment of chain of command
- Update of contact information of individual and entities that should be contacted when disaster occurs, including the management team and external disaster responders (police, fire department, ambulance and etc.)
- Off-site backup of digital data
- Alternative communication methods
- Backup power arrangements, equipment and services
- Alternative work sites
- Recovery phase
The Disaster Recovery Plan (DRP) is an essential part of Business Continuity planning. Disaster Recovery lays out the specific measures that a company must take to resume operations after the incident has occurred. A DRP may include damage assessment, recovery costs estimation, monitoring of recovery progress and transitioning back to pre-disaster phase.
Now think, why should a company have a BCDR plan?
Protect and Preserve Digital Data
Natural disasters, such as floods, hurricanes and earthquakes, are unavoidable occurrences that can cause downtime. Human error and system failure can also cause disruption. While BCDR solutions will not prevent natural disasters, human error, or system failure, they can protect a company’s digital assets so the business will remain operational. Businesses will have peace of mind that they will be able to regain access to valuable data whenever there’s a breach.
Lessen Vulnerability against Cyber-Attacks
Cybercriminals continue to create sophisticated technologies to gain access, alter, change, or expose their target’s digital assets. As a result, businesses are constantly exposed to risks such as fraud, intellectual property or financial loss. A BCDR plan will help prevent a cyberattack or reduce downtime in case data breach occurs.
Improve Client Trust
Businesses that keep confidential client information will be able to ensure that their client’s data are secured and protected from data loss. In the event of an adverse incident, businesses will be able to assure their clients that information can be recovered. This is critical in keeping a client’s trust and confidence and maintaining a good business reputation.
In these modern times, companies should not think twice when it comes to investing in BCDR solutions. With the guidance and expertise of an IT consulting firm or Managed Services Provider, setting up a BCDR plan will be a less intimidating process.