If the power in your office fails tonight, and all of your computers crash, how quickly can you recover? And perhaps more importantly, at what cost? In any given business or industry, it can be difficult to pinpoint the exact damage that
would occur should any unplanned downtime arise – especially when you consider intangible costs like damage to your brand and reputation. To assign a £ value to these risks, and to help ensure you’re realising the greatest value possible when
considering business continuity, here’s downtime template for you to use and work out the real cost of downtime to your business .
Cost of Downtime (per hour) = Lost revenue + Lost Productivity + Cost To recover + Cost of Intangibles
Lost Revenue = ?
Lost Productivity = ?
Cost to Recover = ?
Cost of Intangibles = ?
Total Cost of Downtime = ?
If your total cost of time looks high t you then it’s worth exploring your options to mitigate the impact through Insurance,
improved processes and investment in IT Support. A good place to start is our blog post “CYBER CRIME what is it and how can you avoid being a victim” because what you need to do to protect yourself from cyber crime forms a good foundation for how to ensure your business is able to react effectively to downtime.
If you need help with this or anything IT our support team in Wembley are available and happy to help.