Information technology has evolved beyond being a tool for your business to being the central hub for all of your business operations.
That’s our best argument for developing an IT recovery plan in case something goes wrong.
One look at today’s headlines and you’ll understand that myriad threats have emerged to create the perfect storm with the potential for shutting down your business operations. From natural disaster to data breaches, mitigating the risk means creating an IT recovery plan to keep your business safe.
The Risk Landscape – Cyber Hacks
The actuarial assessment of risk for cyber breach is very high. Some of the most notorious hacks in history have happened in the last few years, including:
- Home Depot lost billions to a cyber security failure.
- The U.S. Veteran’s Administration had an external hard drive stolen from an employee’s home during a burglary, costing the agency $500 million.
- Big box store Target had a cyber security failure that cost them $252 million to repair.
- North Korea hacked Sony Pictures, causing reputational damage in addition to $151 million.
If you’re the owner of a small business, you may be rolling your eyes; surely the risk is not as high. However, NTT Security’s threat assessment shows that the risk of cyber hacks affects every size business in the form of phishing scams. Phishing are emails with embedded code that can spread viruses like ransomware, which encrypts your files until you pay a ransom.
All it takes is one employee to open the wrong email. In fact, 67% of all cyber attacks start in this simple, but effective way.
The Risk Landscape – Natural Disasters
Over the past few weeks we’ve heard about Hurricane Harvey and the devastation it’s bringing to Texas. CNBC says the cost could reach as high as $75 billion. How many of these businesses will simply close, in part, because their IT infrastructure has failed, stopping business as usual in its tracks?
From tornados to floods, most businesses are one disaster away from an irretrievable data loss. But the list of crises beyond catastrophic weather include electrical fires and burglary, vandalism or just plain equipment failure. With an IT recovery plan in place, your business stands a much better chance of surviving, no matter what human-made or natural catastrophe arises.
Elements of an IT Recovery Plan
Developing a disaster recovery and business continuity plan for your IT systems includes an assessment of your current network. Here is an overview of what your plan should encompass:
- Asset inventories
- Off-site data backup and recovery planning
- Development of redundant IT systems
- Creating a communications plan
- Development of off-site workflows to encompass systems such as accounting, payroll, and client billing
- Mitigation plan in the event of a data breach
For a more detailed look at what your plan should include, check out our earlier post on what every IT recovery plan should include.
Inc. says 40% to 60% of all small businesses that lack an IT recovery plan will close their doors after a major disaster. Don’t let this happen to your business.
Contact CWPS today to begin an assessment and threat mitigation process that will help keep your IT infrastructure safe in the event that an unthinkable event will occur.