A disaster can be a one-time event or a never-ending series of problems. It could be a flood, fire, or earthquake that can destroy your business and make you unable to keep up with customer demand. A disaster could also be an attack on your data that leaves customers vulnerable and unsure about using your company services in the future. Regardless of what form it takes, a disaster will cause disruption in your business operations and put your reputation at risk. Companies need to prepare for these kinds of events so they can quickly recover from them without losing money or suffering any other setbacks in their business operations. Here are some tips for how companies should handle disasters:
Companies are increasingly vulnerable to disasters.
Disasters are on the rise, and companies are increasingly at risk.
The frequency of disasters is increasing–last year alone there were more than 230 natural disasters worldwide. The cost of a disaster is also increasing: in 2017, economic losses from natural catastrophes reached $320 billion globally–the highest amount ever recorded. Finally, businesses face increasing impact from these events: according to one study’s findings reported by CNBC News, “about 80 percent of companies affected by disasters said they lost sales after the event.”
As you can see from these statistics and examples above, it’s never been more important for businesses to be prepared for when disaster strikes.
The cost of a disaster to a company can be enormous.
Disasters can be costly to a company. The cost of a disaster can be enormous and can include:
- Loss of data
- Cost of recovery
- Loss of revenue and reputation, depending on how long it takes to get back up and running again.
Employees may leave because they feel you don’t care about their well being or safety, which will lead to further losses in revenue and reputation as well as customers looking elsewhere for services or products that require human interaction such as hospitality companies like hotels (not just hotels but also restaurants).
If something bad happens, your customers won’t care about what you have in place to protect them.
If something bad happens, your customers won’t care about what you have in place to protect them. They will only care about how you can help them. If a customer can’t access the product or service they want, they will move on to a competitor who can provide it. If an organization loses money because of data breaches or other issues related to IT security, there’s no doubt that company will lose customers as well. And even if none of those things happen–if everything continues working smoothly and nothing goes wrong–customers may still avoid doing business with companies whose systems aren’t up-to-date with industry standards like PCI DSS compliance and GDPR compliance (the EU’s new General Data Protection Regulation).
The best data security strategy is prevention.
Data security is a top priority for businesses. In fact, it should be the first thing you think about when you’re setting up your company’s information technology (IT) infrastructure. A good data security strategy includes a few key components:
- Prevention: The best way to protect your data is by preventing unauthorized access in the first place. That means using strong passwords and keeping track of all changes made on each computer so they can be tracked back if necessary. It also means implementing secure protocols like two-factor authentication whenever possible.
- Backup and recovery plan: You need an effective backup system in place that allows you to recover from incidents such as lost files or ransomware attacks quickly–and without losing too much time or money in doing so!
Being prepared will help you keep your business running smoothly and efficiently.
Preparedness is the key to keeping your business running smoothly and efficiently. It’s also the best way to protect your customers, reputation and data.
Fortunately, there are steps you can take today to be ready for disaster:
Now that you know the benefits of being prepared, it’s time to start taking action. Here are some tips on how to get started: