Eze Castle, a global hedge fund technology provider, recently released a report advising funds to adopt disaster recovery and business continuity strategies. This advice follows a few natural disasters that caused several funds to close for days and lose business.
While disaster recovery is typically considered to be an IT problem, it affects every aspect of a business or organization. Just because a company has implemented data backup software doesn’t mean it is immune to a crisis. Data loss will still occur, and without the proper training, a business will still suffer downtime and financial loss because of it.
“When people hear the word disaster, they tend to think of the worst possible things, extreme weather, flooding, etc. But realistically, it can be something smaller like a significant comms room outage or a pipe bursting that can have a disastrous effect despite being relatively small compared to other types of disaster that could happen,” Bob Guilbert, managing director at Eze Castle Integration, told Opalesque.
With any disaster comes potential data loss and with data loss comes the need for backup and recovery software. However, employees must also know how that software works to maximize its efficiency. Then, with reliable disaster recovery planning, a business will be able to weather any crisis.
Financial institutions in particular demand a high-quality business continuity strategy. Any lost data could result not only in hundreds of thousands of dollars misplaced, but potential legal trouble as well. These issues threaten any business that operates on sensitive data, however, creating demand across every industry for reliability. By investing today, a business can ensure it will survive a disaster with minimal downtime, and return to operations intact.