Data loss is a major inconvenience that disrupts the day-to-day operations. Today’s blog looks at 4 examples of the seriousness that data loss can cause for a small business. If you lose customers, you will lose revenue. Data losses can be a total nightmare for businesses of all shapes and sizes. Or if their data got leaked. Productivity is the first thing to suffer when your organisation loses its data, whether it’s from an unplanned network outage, hardware or software failure, or malicious cyber attack. At the end of the webinar, you will have concrete steps to take to prevent downtime. Data loss knows no boundaries; it happens to all types of businesses and can strike at any time, resulting in a domino effect of disastrous consequences. Contact us. https://t.co/7RnjNTFOMH #gdpr #scanning #recordsmanagement https://t.co/EAce81Nofl, Want to know the 3 benefits of storing Deeds offsite in a secure record centre? And once the word spreads, it may be an uphill battle to find new clients. Legal Practice Document Storage Solutions, The General Data Protection Regulation (GDPR). So, wondering how data loss can impact your business? At this point, we hit the nail on the head. Most companies, business corporations and organisations nowadays are totally dependent on their computer data; and the value of that data is not easy to cost. In the Digital Age, news travels fast. Contact us today for a free quote. Depending on the duration of the power outage, lower employee productivity can have a huge effect on your businesses bottom line. Archive Document Data Storage (ADDS) provides information management solutions for businesses throughout London, Bristol, Bath, and Swindon. Which leads me to my next point: After a data loss event, customer loyalty can drop. You can count on us | Call us today on 0800 328 0272. A couple weeks ago, I wrote about Network Continuity. Fortunately, your business can prevent data loss risks with planning and professional help. As a result, they may take their business elsewhere. Here are some unseen consequences of data loss. Financial loss. To sign up, please follow this link: https://www.mrwsystems.com/uncover/. We are here to help. There are many negative consequences that occur when a business loses data. Power outages can interrupt business operations substantially, shutting software … Loss of business. A non-functional website, for example, may cause potential customers to explore other options. We are here to help. For many, the most fateful consequence of a data breach is the financial loss incurred. An outage causes computers to shut down unexpectedly. Nearly half of all businesses in the UK have reported at … From the moment your data is compromised, to the entire investigation and recovery process, the effects of a data breach significantly impact business operations. One of the consequences of a data breach is that the business that was attacked will be responsible for performing a forensic investigation in order to determine the causes of the data breach. Sign up to our newsletter for the latest record storage news and top tips, Do you have a verifiable audit trail for your documents? When your company loses significant data, it puts your reputation on the line. This field is for validation purposes and should be left unchanged. That’s what we in the tech industry call “data loss.”. Some organisations spend hundreds of thousands of pounds repairing their brand after a data loss event. If losing data is a concern for your organization, this event is a MUST. Informative article detailing the best practices of data backup Productivity is the first thing to suffer when your organisation loses its data, whether... 2. Data loss also has a number of economic and non-financial impacts on your company. We, at MRW Systems, can show you how it’s done. If current customers can’t trust your company to protect their data, then they may take their business elsewhere. Data loss happens for various reasons, and each of them presents a different challenge for data recovery. When the financial impact and hidden costs of data loss combine, they create a perfect storm that may be impossible to recover from. A combined data tape rotation, media vaulting, and disaster planning solution ensures your information is continuously protected and is readily available to support your data recovery needs. Your customers may feel like they can’t trust your business anymore. This site uses cookies to improve your user experience. Does this sound similar? The financial consequences are compounded if affected individuals decide to take legal action against your business. You could suffer a security breach or attack. Customer loyalty is also tarnished after a data loss event, especially if client data is compromised. Next week, MRW Systems is hosting a webinar that will uncover the business value of backup and recovery. If your company can’t serve its clients or ends up in the... 3. Here are the five major ways data loss impacts your business. Gartner measures the average financial impact of poor data on businesses at $9.7 million per year. But here is the kicker, data loss doesn’t have to mean the end of your company. Understanding the risks. And what YOU can do to prevent it in the first place. Contact us today for a free quote. Significant revenue loss as a result of a security breach is common. This error message is only visible to WordPress admins. While that may sound daunting, taking steps to protect your business doesn’t have to be expensive. Whether you’re an ad agency, which has lost its latest creative work, or an online … Of those that lost revenue, 38% experienced a loss of 20% or more. Make sure this account has posts available on instagram.com. Negative Effect On Productivity The primary thing that suffers from data loss is the productivity of an organization. You will have customers asking questions about what’s happened. While you are patting yourself on the back for a job well done, you close out of the document. That’s because when the financial impact and hidden costs of data loss combine, they create a perfect storm that may be impossible to recover from. Lost files may take hours or even days to recover leading to staff downtime and lost sales. Imagine, when an employee can’t access their everyday files and applications, they can’t do their jobs. Depending on the nature of the breach, there are various financial problems that can result. No matter if the data gets damaged due to malicious cyber attacks, hardware failure, software failure, or any other reasons, it takes several days and sometimes months for organizations to recover. So, wondering how data loss can impact your business? So, what exactly is Network Continuity? For more information, please contact us by phone or complete the form on this page. The consequences of data loss are dire. Each year, numerous small businesses will have to close their doors after a major data loss event. Consequences of Data Loss for Businesses. Check out ADDS' latest blog:… https://t.co/3QMhqwcHax. Below are 4 possible consequences of data loss: Productivity Disruption. DDoS Attack – A Concern for Small Business?

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