Do you know what would happen to your critical data, applications and internal operations if your company was suddenly faced with a disaster? Significant lengths of downtime can be catastrophic for many businesses, particularly for alternative investment firms where it is imperative to be able to make fast decisions and complete processes quickly. Companies with a disaster recovery plan can reduce the impact of downtime in a wide range of situations, including the following:
Natural disasters can occur
In some parts of the UK, there may be a higher risk of natural causes of downtime than others, but having a DRP in place can minimise the impact should this happen. From huge events like flooding to smaller, more common issues like a lightning strike, these things can cause damage to hardware and subsequently a long RTO time, as well as general loss of critical information that will potentially need to be reacquired.
Accidental hardware damage and sabotage
In most cases where hardware becomes damaged internally, it is likely to be accidental, but in minimal cases there may be attempts at deliberate sabotage, either from disgruntled employees or from third parties who have perhaps broken into the premises. However, most of the time, hardware damage occurs by accident for example due to spillages and dropping hardware. In both cases, hardware damage can cause downtime where there is not a DRP in place.
Mistakes and human error
Perhaps the biggest cause of downtime for most financial companies is human error, which is unavoidable. 1 in 5 events of downtime are caused by simple human error so minimising this risk is essential to reduce the downtime caused and ensure no interruption in services to clients. One element of a DRP is to allocate responsibility for different parts of the recovery process, as well as limiting access to data that is not necessary in order to reduce the likelihood of data being lost or compromised.
The role of a disaster recovery plan
Downtime is where a DRP comes in, as part of it will mean that regular backups have been taken. This means that any data on a piece of hardware will not be lost due to damage, and can be recovered and continued to be worked on from another device during the time any hardware is out of action. It also means that data that has been lost or corrupted through human error can be recovered from the backup easily, minimising downtime overall.
Client satisfaction with a DRP
Having a DRP in place is a central part of ensuring complete client satisfaction. The ability to quickly recover data and continue work means that there should be minimal interruptions in service which are often unnoticeable to your clients. If you would like to find out more about getting a DRP in place for your alternative investment firm or SME, get in touch with netConsult today on 020 7100 3310.
Author: Laura Zverko - Follow us on Google+