Recent frankenstorm Sandy caused billions in damages and even more yet to be tallied. Moodys.com, Mark Zandi estimated that 2 days’ worth of business activity in the region could be lost, valued at around $20 billion dollars. IHS Global Insight placed total costs somewhere between $30 billion – $50 billion, including $20 billion in infrastructure damages. Did your organization find yourself prepared? Despite the tireless efforts of many organizations (myself included) few are truly prepared when disaster strikes. Some basic disaster recovery stats detail my point:
- Gartner estimates that only 35 percent of SMBs have any comprehensive disaster recovery plan.
- Touche Ross estimates, the survival rate for organizations without a disaster recovery plan is < 10%
- Evolutionary IT surveyed over 50 (non customer) businesses and found a mere 20% had any disaster recovery plan as of 2011.
What I have seen most often in my professional career is that so few firms take disaster recovery seriously and even fewer actually test their plans. What will it take for your firm to address disaster recovery or face the very real risks of business loss and even failure. Hopefully the industry stats will improve and for my part I will be dedicated to that cause. What steps have you taken to prepare your organization?