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The True Cost Of Downtime

Businesses are at risk of experiencing many different problems throughout their lifespan, and any problems that influence the time it takes to carry out daily operations are often critical.

 

If your team is unable to access computer systems due to scheduled maintenance, network errors, or damaged devices, then this can cost your business significantly. When you look at some of the huge businesses like Apple, for example, if their systems go down in their stores, they could lose out on millions in profit if it then causes them to close those stores for the day.

 

But while that sounds bad, these big companies are perfectly structured to handle these seemingly devastating losses. So, what is the real cost of downtime on the average business?

 

Why Is Downtime So Bad?


It’s not uncommon for businesses to experience interruptions in their everyday processes but finding ways to reduce the risk of these events is key to maximising productivity and profits. Downtime, for a small to medium-sized business, can be devastating, which is why a business continuity plan is essential.

 

While you might not be losing millions of pounds a day due to a computer system error, the profits you do miss out on can have an even larger impact than the millions lost by sprawling corporations. If you’ve got a budget set out, which incorporates your expected profits into your plans, especially to help cover certain expenses, you might end up being caught short and unable to manage those costs.

 

What Can Cause Downtime?


There are a few things that can cause downtime in business. One example is if your business premises need to be closed due to fire, structural, or water damage, your team will struggle to get their work done and meet expected targets unless you have an efficient remote working plan in place.

 

But the biggest cause of downtime is going to be problems with technology, such as systems going down, server errors, device malfunctions. For example, a restaurant till system could stop working, making them unable to take card payments. They would then require IT support to help them fix the problem, which could take some time.

Fixing These Problems
When you work with an experienced IT support team, they’ll be able to identify the cause of your downtime quickly and work towards rectifying the problem as soon as possible. Having backup systems is always a smart idea as part of your continuity plan. It’s easy to find yourself getting overwhelmed by your IT when things are going wrong, and that’s why it’s imperative to have an experienced team at hand to deal with it hastily.

 

How To Reduce The Risk


Ultimately, the best way to deal with problems like this is to reduce the risk of them happening entirely. Your IT support team will be able to put certain systems in place to minimise the chance of these problems occurring, for example, reducing your chances of being subjected to ransomware, as this would lock your systems down in an attempt to exploit you for payment. If your business is in need of the guidance and support of an experienced IT team who can help to improve your cyber security as well as manage your tech and provide your team with continued support, contact us today.

07/02/2022

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