CFO's Top Questions About Business Continuity & Backup
If you're a large organization concerned about server outages and data loss, it's likely you have a backup and business continuity plan already in place. As a CFO, it's critical to understand how your systems work.
More importantly, you need to be certain your disaster plans will actually safeguard your business in the event of a disaster.
These are concerns that every business should address, and as CFO, you should participate in those discussions. To help CFOs prepare for disaster and data loss, the most common questions about backups and business continuity are answered below.
Are Data Backups Enough?
Data loss is a significant issue for businesses across all industries. When you lose files, you lose time and money attempting to recover or restore vital information. The loss of data can occur as a result of accidental deletion or corruption of files.
Physical damage, viruses, or formatting errors can also leave your files inaccessible to humans and software alike. As a CFO, it's your job to prevent such events from occurring.
For this reason, many CFOs are looking into whether data backups alone are enough to protect important business information. In a nutshell, the answer is no. While on-site backups can help prevent data loss, they cannot protect your business against natural disasters or physical data breaches.
Off-site backups have their shortcomings as well. The further away the site, the more logistically challenging it can be to transfer data and store physical documents. However, if your off-site backup is nearby, it can be equally susceptible to natural disasters in your area.
As a result, more and more businesses are migrating to cloud-based storage solutions. However, if you're not an expert in the cloud, managed service providers can help you select the appropriate applications for your industry and make sure they are implemented properly.
What is the Cloud and How Can it Benefit My Business?
Cloud storage allows businesses to store data and files online with a cloud computing provider using a public internet connection or a dedicated private network connection. Using the provider's servers, infrastructure, and network, businesses can access data quickly whenever they need it.
Using cloud storage means you no longer need to purchase and manage your own data storage infrastructure, giving you the agility, scalability, and durability of accessing your data at any time, anywhere.
If you're a CFO, you may be wondering how cloud-based storage solutions can benefit your company. Data storage in the cloud offers the benefits of scalability and affordability.
Businesses no longer have to worry about running out of capacity, updating storage area networks (SANs), repairing damaged equipment, or maintaining unused hardware during periods of low demand.
Cloud storage is flexible, allowing users to scale up or down according to demand. Organizations can store data securely online so it can easily be accessed at any time, from anywhere, by those who have permission to access it.
Cloud storage eliminates the need for hardware purchases, storage provisioning, and extra capital for spikes in business expenses. Businesses have the option of adding and removing storage capacity on demand, changing performance and retention characteristics rapidly, and paying only for what they use.
When data becomes infrequently used, it can even be automatically transferred to lower-cost storage, resulting in even more cost savings. Businesses that migrate from on-site storage to the cloud can also save money by eliminating storage infrastructure and maintenance costs.
The cloud makes resources available at the click of a button, which increases your organization's agility. As a result, your staff is freed from purchasing, installing, administering, or maintaining the system. By integrating cloud storage with analytics tools, your staff can also gain valuable insights into your data to drive innovation.
Efficient Data Management
By using cloud storage management policies, businesses can perform powerful information management tasks, such as automated tiering or securing data according to compliance rules. Cloud storage can also be used to create global storage for distributed teams through replication.
Organization and management of data in this way supports specific applications, results in reduced costs, provides security, and ensures compliance.
A cloud storage provider stores your data in a highly secure data center, allowing businesses to rest assured that their data is protected and that their business will continue to run smoothly.
By quickly identifying and restoring any lost redundancy, cloud storage services are designed to handle multiple device failures. Using versioning and replication tools, businesses are better prepared to recover from both accidental user actions and application failures.
With cloud storage, businesses can expand their storage capacity as much and as quickly as they need. As a result, on-site storage capacity is no longer constrained. The flexibility of cloud storage allows businesses to scale it up and down as needed to support backups, analytics, or cloud computing applications.
Without having to worry about complex storage allocation processes or waiting for new hardware, users can access storage anytime, anywhere.
What is Backup and Disaster Recovery?
CFOs looking to protect their data and improve efficiency may want to consider BDR servers. In addition to adding an additional layer of protection, BDR systems help businesses reduce downtime after a disaster. Here's what you need to know about them.
A Backup and Disaster Recovery Server (BDR) is a virtual system linked to your main server. It copies your entire server usually every 15 minutes without affecting your main server's performance.
Your data is then continuously sent off-site to the cloud, where it is stored as a virtual copy. By combining data backup and disaster recovery solutions, BDR systems ensure business operations continue normally in the event of a server failure.
Using BDR for Backups
BDR plans should include multiple backup components. Ideally, every company should have at least two types of backup: on-site backup, off-site backup, and/or cloud backups.
When it comes to protecting your data, redundancy is a necessity, not a cost-saving measure. Whether it's on-site or in a storage facility far away, drives can fail at any time. Knowing your data is protected during a server failure can bring your business greater peace of mind.
Using BDR for Disaster Recovery
Disaster recovery is just as important as backing up your data. A disaster recovery plan is essentially a security plan. In the event that your workplace is destroyed by a tornado, hurricane, or flooding, you need more than just your data to survive.
To access that data, your business will need new computers, servers, and networks, as well as a new place to work.
Disaster recovery plans address these problems before it is too late. When creating a disaster recovery plan, determine the time it will take for operations to resume. Then, plan how equipment and facilities will be sourced.
Why is a BDR System Important for Businesses?
BDR servers offer a wide variety of benefits to businesses. However, it ultimately comes down to their ability to prevent disruptions during the recovery process, minimize risks, and reduce costs.
A disaster recovery plan and a full backup of all critical systems can significantly speed up a business's recovery time. In the event of a disaster, working a plan is always easier than doing things on the fly. The quicker a business can get up and running, the fewer financial losses it will suffer.
Creating a well-planned BDR system lowers your business risk. While on-site back provides some protection, a combination of on-site and off-site is even more secure. Adding cloud backup increases protection even further.
Similarly, the more comprehensive your disaster recovery plan, the lower your risk becomes. Although no business can completely avoid all risks, a BDR system can significantly reduce your business's risk profile.
As CFOs are not technical experts, many companies choose to work with managed service providers to implement BDR systems. In addition to ensuring that BDR systems are set up effectively, managed service providers can also help businesses reduce expenses.
For example, inadequate disaster plans can cost businesses a lot of money. Working with a managed service provider, however, can ensure that long data recovery is mitigated to the fullest extent possible.
Reliable Managed IT Services for Business Continuity and Backup
Maintaining a good backup and recovery system is crucial to the success of your business. Without a comprehensive disaster recovery plan and adequate backup systems, companies risk losing vital information and suffering significant financial losses.
At Prescient Solutions, we employ the best-in-class data systems to ensure your information is protected and secure in the face of disaster.
As a leader in data loss prevention, we not only back up your important work but also ensure that your business is up and running quickly after an outage or natural disaster. With reliable systems and thorough disaster plans, businesses can improve efficiency, ensure data security, and gain greater peace of mind.