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Summer Journal

Volume 28, Issue 3

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New Business Continuity Realities

Written by  John Zannos Thursday, 22 November 2007 00:38

The demand for business continuity and recovery solutions has never been higher. The dramatic events of the past few years have made many companies realize exactly how vulnerable they really are. At the same time, their dependence on information technology (IT) has significantly increased. So if the IT environment goes down, it’s all the more likely that the business or organization will not be able to continue day-to-day operations. And that can carry major costs and/or penalties. For companies in brokerage services and credit card sales, for example, one hour of downtime can cost an average of $4.5 million. The dollar impact in other industries is less, but can be just as devastating in terms of reduced productivity, lost revenue, loss of customers and brand value, and legal liability. With so much at stake, companies are definitely looking beyond the same business continuity/recovery approaches they’ve been presented for years. They know that

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