Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
The impact of the loss of mission-critical systems naturally varies depending on a company's size. But of companies with more than $20 million in annual revenues, 50 percent reported they'd have losses in excess of $100,000 per day. Twenty percent of larger companies predicted a daily price tag north of $1 million, with a small group2.5 percentpegging potential losses at the breathtaking level of $100 million to $250 million per day.
Also tracking to company size were budgets for IT-related DR services. Sixty-two percent of respondents said that their DR budget is under $100,000 per year, while 5 percent said their budgets topped $5 million or more. And about the same percentage said they had no budget for DR services at all.
What's the most likely problem to occur? Fifty-four percent of CIOs surveyed reported a major hardware component failure within the previous five years, and 46 percent cited a network failure. That's strong support for their reported focus on the kinds of problems they're most intent on avoiding. But most of these can't have been major breaches: Only 33 percent of those answering said their DR plans were activated because of one of these problems.
Most believed they didn't have to worry about being offline for too long. Sixty percent thought they could have their mission-critical systems back up within 24 hours.
IT Solutions Builder TOP IT RESOURCES TO MOVE YOUR BUSINESS FORWARD
Which topic are you interested in?
What is your company size?
What is your job title?
What is your job function?
Searching our resource database to find your matches...