Outages and downtimes can wreak havoc in today’s unpredictable IT environment. A Dun & Bradstreet study found that nearly 60 percent of Fortune 500 companies experience a minimum of 1.6 hours of downtime every week.
Consequences?
Uptime Institute 2021 Global Data Center Survey (via Facility Executive) reveals that outage, while less pervasive than in previous years, have become way more expensive. Over 60% of the respondents reported losing more than $100,000 to downtime. Of that 60%, 15% lost over $1 million.
Another study suggests Fortune 500 companies lose $46 million every year in revenue due to unforeseen outages and downtimes.
An unplanned outage is exorbitantly expensive in terms of actual costs and the problems it causes in the real world.
Services like email, chat, billing, and customer support unexpectedly come to a screeching halt. This leads to a loss in revenue potential and an increased chance of fraud or data breaches.
Inaccessibility of vital services to customers or employees may even result in legal repercussions in extreme cases.
In a GlobalScape survey, more than 50%f IT professionals said their workforce has been unable to send or receive critical and timely files due to system availability issues.
Not only is this frustrating for end users, but according to 76% of IT execs recently surveyed, it is dangerous, considering the information-sharing behavior of employees who are forced to resort to consumer platforms like WhatsApp & Dropbox for sharing sensitive business information with each other.
When it comes to outages, organizations typically only think about monetary loss.
However, awful customer experience and the business’s damaged reputation are two important aspects that companies should take into account.
Once your reputation is ruined, it can be hard to regain your customer’s trust and make up for the damage done to the perceived value of your business.
How Can UniAspect
Digital Help?
Our Outage Business Impact Analysis is a systematic process to determine and evaluate the potential effects of an interruption to critical business operations due to an outage or emergency.
Elements of Outage Business Impact Analysis
Business Activity Affected
Potential Operational Loss
Financial Loss Suffered Due to Downtime
Minimum Time Needed to Recover Operations
We tier the potential cost of disruptions to help better define your business’ operational availability and requirements for recovery, restoration, and resiliency.
Impact Analysis is critical for creating a Business Continuity Plan and ultimately fortifying your business from disastrous loss.
Process Quantify and Qualify Loss
Business Impact Analysis quantifies and qualifies the impact the loss of a product or service would have on the following areas:
- Customer Service
- Finance
- Brand & Reputation
- Legal
- Staff Welfare
- Any other category defined by the business
Our systemized reports include a wealth of crucial information including the critical processes that support your services, MAOs, RTOs, data loss, and the cost of disruption.
All the data is categorized into resiliency tiers which provide a clear picture of your organization’s predicament.
Moreover, you can understand and build a convincing business case for investments in business continuity.
We eliminate single-point failures in your existing infrastructure and processes to avoid future downtimes and outages.
We integrate practices like load balancing between servers, following good backup practices, and building peer review and technical fail-safes into your deployments.
Our experts conduct a post-marten of the incident. Concerned teams are brought together to discuss all aspects of the incident. Why it happened, its impact, what actions were taken to mitigate and resolve it, and—importantly—what should be done to prevent it from happening again.
Why UniAspect Digital?
UniAspect Digital is a team of trained professionals working in the industry for more than 20 years and have experience in a wide range of business situations.
We develop and implement the right strategies for your organization while considering your unique business model, availability, recovery, and resiliency requirements.
Our approach to business resilience is comprehensive, covering everything from strategy and vision to the organization and human resources, business processes, applications, data, and technologies.
Check out what else we offer
Digital Growth & Expansion
We include this offering in our business model because we believe that the clients require validation when it comes to creating and executing strategies to drive the digital revolution
Value Chain Analytics
The ultimate goal of performing a Value Chain Analysis is to drive efficiencies and to create more cost-effective solutions for each segment leading to the after-sales efforts.
Digital Restructuring & Turnaround
If your business is facing organizational challenges, operating solely by old ways of thinking is a recipe for disaster.