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The Hidden Costs of Data Loss | Cloud Bridge

Written by Cloud Bridge | May 2, 2024 3:44:11 PM

 

How proactive Backup and Recovery with Cloud Bridge can save your business



Data loss can have devastating effects on a business, and the consequences often extend beyond the immediate impact. From revenue loss and reputation damage to regulatory fines, data loss can severely impact your bottom line. 
 
For many businesses, the cost of a breach can have a big impact on the scope of their growth for a long time to come. To mitigate these risks and safeguard your business, taking a proactive approach to backup and recovery is essential. 
 
Cloud Bridge's Managed Backup Service provides the expertise and tailored support you need. With a trusted partner by your side, you can reduce pressure and focus on what matters most—growing your business.


Revenue Loss


Downtime caused by data loss can bring operations to a grinding halt, resulting in significant revenue loss. Whether it's the lack of ability to process orders, serve customers, or access critical data, every minute of downtime translates into missed opportunities and dissatisfied customers.
 
On average, businesses in the UK lose between £65,000 and £83,000 in downtime every year, according to industry analysts.  


By implementing a proactive backup and recovery solution, you can minimise downtime and ensure business continuity. This in turn protects your revenue streams and preserves customer satisfaction


Reputation Damage


In today's data-driven world, customers place great importance on the security and privacy of their information. If your business experiences a data loss incident due to inadequate backup measures, it can lead to a loss of trust. It may even damage your reputation going forward. 
 
Customers may question your ability to protect their sensitive data or personal information, leading to reduced loyalty.

Some businesses also notice that they receive more negative reviews, and customer churn after a ransomware attack or other data loss event.
 
Proactively safeguarding your data through reliable backup and recovery solutions demonstrates your commitment to data security. This helps you to maintain the trust of your customers and reduced the negative impact on your business.


Regulatory Fines



Non-compliance with data protection regulations can result in significant financial penalties. As data privacy regulations become more stringent, organisations must ensure they have robust backup and recovery strategies in place to meet regulatory requirements. 
 
In the event of a data breach or loss, failing to demonstrate adequate backup measures can lead to severe fines and legal consequences. By adopting a proactive approach to backup and data recovery, you can mitigate the risk of non-compliance and protect your business from potentially crippling financial penalties.


Loss of Productivity


In the event of a data loss incident, businesses require extensive recovery efforts. This can divert valuable time and resources away from strategic business activities.
 
The process of recovering lost data, rebuilding systems, and restoring operations can be complex and time-consuming. This diversion of resources can result in decreased productivity, delayed projects, and missed business opportunities. By implementing proactive backup and recovery solutions, you can lessen the impact of data loss incidents, enabling your team to focus on core business activities and driving growth. 

Mitigating Risks with Cloud Bridge's Managed Backup Service


Our AWS Managed Backup Service offers the expertise and support needed to design a tailored backup strategy that aligns with your organisation's unique requirements. By partnering with our experienced team, you can benefit from the following:


As an AWS Advanced Consulting Partner, we help organisations like yours find success in the cloud by:


1. Collaboration
We work closely with you to understand your data protection needs and design a backup strategy that mitigates risks effectively.


2. Expertise and Support
Our team of professionals brings industry-leading expertise in backup and recovery, ensuring that your data remains secure and able to be recovered.


3. Business Continuity
With our proactive approach, we minimise downtime, protecting your revenue streams and maintaining customer satisfaction.


4. Regulatory Compliance 
Our Managed Backup Service helps you meet data protection regulations, reducing the risk of fines and legal consequences.

5. Resource Optimisation
By entrusting your backup and recovery processes to our experts, you can redirect valuable internal resources toward strategic initiatives and business growth.



Taking the next steps


Now we’ve explored how data loss affects businesses, impacting revenue, reputation, compliance, and productivity, the question is, how can you protect your assets? By taking a proactive approach to backup and recovery with Cloud Bridge, you can mitigate these risks and be rest assured your data is safe and secure.
 
Want to discover the other benefits of Cloud Bridge's AWS Managed Backup Service? Find out more.