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Technology Downtime Is Costing You Money: What Can You Do About It?

Technology Downtime Is Costing You Money: What Can You Do About It?

Technology Downtime Is Costing You Money: Unexpected downtime is a nightmare for businesses. It can mean that customers can’t get through to you, that staff are unable to carry out their work, and in some cases it can even mean that you lose valuable customer data.

Downtime impacts your bottom line, but it can impact your reputation and other areas of your business, too.

What is the cost of IT downtime?

When your IT systems go down, there can be knock-on effects in a number of areas, and how serious the impact depends largely on the type of business you are running, and when the downtime occurs.

For example, if you are a busy e-commerce site that goes down during your peak time for orders, you could lose orders as a result of the IT team. Other types of businesses may not lose orders directly, but other areas such as productivity, Benefits of productivity software, and customer service can be impacted. Then of course, there is the cost of putting right the issue so that systems can return to normal.

A recent survey estimated that the average cost of IT downtime was $5,600 per minute. Around 98% of organizations estimated that each instance of downtime cost them over $100,000.

Whatever the size of your business, when it comes to downtime, prevention is better than the cure!

Proactive monitoring

Technology Downtime Is Costing You Money: One of the most effective things you can do to prevent downtime is to invest in a robust monitoring solution that checks your infrastructure for potential risks and allows you to resolve problems before they occur.

For monitoring to be truly effective, it needs to be active 24 hours a day. This can be a headache for small business owners because paying someone to be on duty 24 hours a day just in case something goes wrong is an expense that’s hard to justify.

Many small businesses use managed service providers for out of hours monitoring to get around this issue. With a managed service provider you will pay a fixed monthly fee, and have peace of mind that someone is always on the lookout for potential issues.

Also Read: What is Manufacturing Analytics and How it will Transform the Industry?

Review your cyber-security policies

Cyber-security threats are a common reason for IT downtime, and so ensuring that your security policies are reviewed regularly can be an effective way to minimize downtime.

This doesn’t have to be a complex procedure, the three most important things you can do are:

  • Ensure that all of your software and applications are kept updated. Software companies are constantly monitoring their software for weaknesses and releasing patches that resolve potential problems. Keeping your software updated keeps you safe from threats.
  • Educate your staff. It’s essential that you regularly educate staff on things like how to identify a potential phishing attempt, and also about how to troubleshoot minor IT issues themselves. This will help to prevent downtime while they wait for someone to come and fix their computer for them.
  • Standardize your software. Where possible, have staff use the same software packages across your business. This makes it much easier to troubleshoot issues, improves user experience, and means that you have less administration to keep on top of!

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