The True Cost of Business Downtime

In a recent survey, 78% of companies reported some sort of major disruption to their business operations in the past five years. On average the true cost of business downtime across all respondents was $204,850 per hour and the average cost for a small-to-medium sized business was $11,500 per hour. The numbers are staggering and the risks increase each year.

 

What causes downtime?

The majority of downtime is small and mid-sized businesses related to power, hardware, software, viruses, cyber crime and natural disaster. Almost all incidents that cause outages and downtime are entirely preventable with a good managed IT service provider who is able to put the correct technology and procedures in place.

Avoiding Business Downtime

Your clients and employees count on your IT systems to always be available. Your network is the backbone of your entire business and even a few moments of downtime can cost you big money. Downtime not only chips away at your team’s productivity, it frustrates clients and prevents you from closing new sales. Having redundant, fail-over technologies in place combined with a reliable offsite disaster recovery plan is a great way to avoid downtime.

Solution: A Partner Who Can Help

Despite the potentially devastating consequences that downtime can have on small businesses, more than half of small businesses reportedly do not have a disaster recovery and business resumption plan. One of the most common reasons business owners cite for not having a plan is cost. However, when considering the cost of downtime and all the associated ripple effects, contracting with a reputable IT Services provider will save you big bucks in the long run and keep your business operational.

Tired of your network going down? Need a better IT company? Contact Kinetic Technology Group at (214) 269-1200 or email info@kinetictg.com and we’ll implement IT solutions that eliminate downtime and increase productivity in your business.