Veeam carries out a survey every year, after which an Availability Report is released. Veeam carries out the survey to depict an image of ability of enterprises across the globe to develop and utilize counter measures against security threats, recovery and availability challenges. This year’s Veeam Availability Report took a survey of over 1,000 senior IT leaders from 24 countries.
Veeam started carrying out the report since 2012. In this year’s report, Veeam discovered that reputational and financial cost was up to US $21.8 million from 2016 to 2017.
Veeam’s Regional Manager for Africa, Claude Schuck said the reputational and financial costs acted as barriers to most of the businesses’ ability to execute digital transformation strategies.
Schuck stated, “Availability has become a stumbling block. You need to make sure that your business is up and running and that service are available. There is no time to stop in today’s businesses. We speak about innovation but the problem comes when you experience downtime and you take the funds meant to be put into innovation for use in sweeping up the mess. You see losses for those types of initiatives in the effort to keep a business functional. That’s a 36% increase from last year’s report in terms of the loss for an organisation.”
According to the report, downtime’s effect was not only limited to the finances alone, but it also affects the consumer’s confidence in a business’ brand integrity to fade and could also lead to employees losing confidence.
The report also stated that different factors could result in the downtime. These factors could be cyber attacks, network outages, infrastructure failures and natural disasters.
Shuck added, “Businesses usually presume that they do not have an availability gap until it is proven otherwise. Organisations of all sizes often rely on what they think is a resilient solution until the day a disaster happens. The day you find out whether it is adequate is the day everything goes wrong. We are encouraging businesses to ask themselves if system X were to fail how long would it take for us to recover’. You need to have all the details.”
However, as the saying goes “one man’s meat is another man’s poison”, the downtime costs that affect enterprises negatively is a platform for Backup-as-a-Service (BaaS) and Disaster Recovery as a Service (DRaaS) to grow. The enterprises affected by the downtime cost will need to invest in the BaaS and DRaaS to minimize the downtime.