Everything put into consideration, data emerges as the most valuable asset in every business. With the introduction of the remote work and/or hybrid workplace models amidst the Covid-19 pandemic, guarding your business information has never been this crucial if you’re to stay afloat and competitive. Shocking enough, statistics show that about 75% of all businesses have no data recovery plan in place. Perhaps, this better explains why more than 60% of enterprises end up closing their doors within six months of a data loss incident.

Securely backing up your vital company data with proven solutions like in the cloud ensures that your business can get up and running within a short time in the event of a data disaster. And speaking of data disaster/loss, it isn’t a matter of if but rather when, as studies undoubtedly indicate that 20% of SMEs will be hacked within a year.

Whether it’s a human error, natural disaster, hacking, or malware attack, here are the reasons your business needs backups.

 

Data Recovery

 

If you’re able to recover all your company data after loss promptly, the chances are that even your customers might not notice whether it ever happened in the first place. Additionally, you cut all the costs related to downtime. To achieve this, you need to adopt a backup infrastructure such as Backup as a Service which uses cloud technology to store your data in different data centers. Coupled with the timely and regular backups, you’re at peace knowing that the business will be up and running when unforeseen threats hit.

 

Competitiveness and Reputation

 

Indeed, you aren’t entirely responsible for some unanticipated data loss incidents. Still, you should remember that your customers and various data privacy regulatory bodies will hold you accountable for what happens afterward. Staying competitive requires you to maintain critical customer marketing data as well as assure them that their information is safe. Litigations resulting from data breaches or loss can cause havoc to your reputation, which might give your competition a winning edge.

 

Natural and Man-made Disasters

 

While some businesses truly have backups in place, these backups are prone to natural or human-caused tragedies like floods, hurricanes, storms, earthquakes, or fires. Some might argue that offsite backup might solve this. Yes, that’s true if you have the financial muscle that they require. Also, offsite backups have a wide gap between subsequent backups, which might mean some data will be lost if the disaster hits in between. Cloud backup solutions provide a cost-saving, secure, and effective option with automatic backup triggers upon file changes.

 

Rising Ransomware Attacks

 

Ransomware has remained one of the costliest cybersecurity threats worldwide. As remote work expands during the pandemic, these attacks have increased 148%. With the average ransom having increased to about $200,000, data backups have never been this cheap compared to the money you risk paying in case of such an attack. On the other hand, paying the ransom doesn’t guarantee that you’ll have your data back, which means that you could end up losing both (money and data). While preventing cybercriminals from accessing your data is the first crucial step, online backups can come to your rescue when these preventative measures fail.

 

Human Error and Insider Threats

 

Your intern or even seasoned employee might make erroneous permanent updates or deletions of vital files. Besides, laid-off or resentful workers threaten company data by making intentional deletions or through data theft. Backup as a Service can help you save time, money and be better protected against such threats.

 

Final Word

 

The main aim of backups is to prevent downtime, which is estimated at $11,600 on average. Whether you’re looking for a cloud backup provider or an all-around business IT provider, take a look at our White-Glove IT to choose what can best work for you. Our pledge is to provide the best customized IT solutions at an affordable price. Get in touch with us now to start backing up your data securely or learn how we can help.