Are You Prepared?
The most common problem for companies, who come face-to-face with a business-altering disaster or crisis, is FAILURE TO PREPARE.
Many have a false sense of security. For example, most business owners, executives, boards of directors and stockholders believe the current data backup program of the company’s IT department is capable of supporting key business functions in the face of a disaster. A recent study conducted under the auspices of the University of Texas found that only six percent (6%) of companies experiencing catastrophic data loss survive. Forty-three percent (43%) never reopen after the disaster and another fifty-one percent (51%) close down less than two years after the disaster due to business redirection or misdirection caused by the data loss. In simple terms, the data back-up support was unable to get the job done.
Another common error is not addressing more than just the recovery of the records of the functional department. A comprehensive BUSINESS RECOVERY PLAN also addresses issues such as the loss of income producing facilities – be it a manufacturing facility, a distribution center or an off-site data storage warehouse. The Gartner Executive Programs and Society for Information Management Survey, released in January 2002, revealed that only thirty-six percent (36%) of organizations surveyed posses a business recovery/contingency plan that addressed the complete loss of physical assets at a business location.