According to MunichRe, 2018 was the fourth-costliest year for natural disasters in the global history. And only half of the total cost of $160 billion was insured. The year 2017 was worse. That natural disaster season cost the U.S. economy a record $307 billion.
IDC’s Worldwide Business Resilience Readiness Thought Leadership Survey uncovered that “93% of respondents have experienced tech-related business disruption in the past two years.”
Unfortunately, a company faces critical risk if not well prepared with a complete DR plan. The core business functions, and operations of a company are severely impacted by the critical downtime in case of any disaster or unexpected incident. And these high downtimes can adversely affect your business, causing serious revenues losses with complete and permanent data loss, client dissatisfaction and damaging your company’s reputation.
Hardware failure/UPS failure is the primary cause of data loss and/or downtime, followed by Cyber Crime and Human error. According to BusinessLine by The Hindu, 90% (approx.) of the Indian small and medium businesses are not adequately prepared for disaster recovery processes.
Many businesses which are growing progressively, both small and large, are becoming aware of the need of a strategic DR plan for business continuity yet a zillion companies have decided to abstain from it.
Refusing to take notice of an unforeseen event doesn’t help instead being fully prepared for it does. When a disaster strikes, a well-designed and tested Disaster Recovery Plan ensures that the critical business operations resume quickly. Therefore, your business needs Disaster Recovery as a Service (DRaaS) to bring operations back on track.
The global disaster recovery as a service (DRaaS) market is estimated to reach 57.19 Billion US Dollars by 2026, according to a recent report by Reports and Data. DRaaS acting as a secondary infrastructure ensures the duplication of all the applications and cloud data.
DRaaS is growing rapidly year by year and it has the capability to ensure business continuity. With so many ransomware attacks and other forms of business failure, companies are learning to adopt disaster recovery solutions. A survey from Statista uncovers that size of the disaster recovery as a service (DRaaS) market worldwide will increase drastically in 2020 as compared to other previous years. Not only the adoption, but companies are regularly testing their DR solutions who have already purchased them. According to the state of cloud and data protection 2018 report, there was a 46% increase in companies reporting that they test their DR solution every month and 7% increase in companies testing every quarter.
The performance and the kind of DR options that one opts for define how quickly one can recover its business from a disaster. This performance involves a certain cost. The best way to go about it is to find a good DR Partner or cloud partner providing DR solutions. A good cloud partner not only helps you with the recovery of your data or securing it for future but also the expertise and solution designing they offer makes your DR plan more robust.
Progression can help you to create a full-fledged DR plan for business continuity to ensure your business is safe and continual.
We work with you to understand the most important processes, resources and data, in order to create customized yet effective DRPs for your business. At Progression, we provide Disaster Recovery as a Service (DRaaS) using leading technologies and DR tools to protect your business workloads, be it physical or virtual, on premise or cloud, to ensure that your business is always best protected.
We help to set up the best DR option for your organization based on your cost and recovery time requirements. We provide DRaaS via our own and leading third-party Data Centers across Gurgaon, Chennai and Mumbai currently as well as AWS and Azure. To find out more about what is DRaaS how we can help protect your business, please leave us your contact details here or call us at +91-124-6670100.
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