Most business owners don’t realize that they might become victims of a ransomware attack. It is only until they are actually hit by a ransomware attack that they realize how vulnerable they were, but it is too late then. They lose millions of dollars in economic and operational loss.
As we all know, unpredictability is a part of life. Outages and breaches cannot be predicted and the same goes for ransomware attacks.
It is impossible to predict a ransomware attack and the amount of damage it can do to a business. What is possible, however, is that without any protection and backup, a ransomware attack is bound to happen. Sooner or later.
Why need a Disaster Recovery Plan?
- A huge amount of Financial Loss
Ransomware has become a leading cause of financial loss of businesses. On average, a ransom demand can range from $35,000 to $40,000, for SMBs. For large enterprises, it is a lot higher.
This is a whopping number and it is only the ransom demand. If we talk about the financial loss businesses suffer due to downtime, this number will only go further up.
- Downtime
Apart from financial loss, downtime is a major concern for businesses. As most businesses have to be operational all the time, 24/7, it leaves no room for downtime.
Downtime can really damage businesses. Particularly for SMBs, any extended loss of productivity can lead to reduced cash flow through late orders, late invoicing, increased labor costs as staff works extra hours to recover the downtime, missed deadlines and so on.
If major business disruptions are not addressed today, it is very much possible that a ransomware attack could have long term implications that can affect a company for many years to come.
- Business Continuity
Another concern for businesses is, of course, business continuity. They want to make sure that their operations continue, at all times, and a ransomware attack makes it impossible to do so, as of course, it leads to downtime, which in return leads to business continuity.
Backup & Disaster Recovery Solves all the Ransomware Headaches
A backup and disaster recovery solution protects a business against multiple risks of ransomware, including financial loss, reputation loss, data loss, and downtime.
By leveraging a backup and disaster recovery solution businesses can achieve protection against ransomware and suffer minimal downtime, as a disaster recovery solution offers faster recovery of data with reduced RTOs and RPOs and helps a business achieve its goal of business continuity.
Other than this, a backup and disaster recovery solution eradicates the need of paying any ransom money to the attackers. This saves the businesses’ finances as the data is safe and can easily be recovered in a matter of minutes so there is no need to pay any ransom.
Conclusion
Ransomware can be quite damaging for a business, of any size, big or small. It can seriously dent the business continuity goal of businesses and can lead to a lot of financial loss. A backup and Disaster recovery plan helps greatly in protecting against the threat of ransomware and the risks followed by it, and at the same time, ensures business continuity.
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