Malfunctioning, Infected, Corrupted or Faulty IT is Costly

Businesses and consumers alike use computing technology nearly every day.  From streaming on-demand programming to shopping online to running day-to-day business activities people rely on technology to function properly.  Untimely outages, crashes, malfunctions, connectivity issues and other IT issues can result in catastrophic consequences.

  • Decrease in productivity – employees can’t get work done because their computers are too slow, they can’t connect to necessary applications or resources, etc.
  • Damage to reputation – customers like to know that their personal, financial and business information is safe. When it’s not, your reputation suffers
  • Loss of revenue – for every minute your system is down, you’re losing money. From losing sales to paying workers even when they can’t be productive your earning potential is impacted
  • Increased costs – When faced with reconstructing files as well as repairing issues caused by faulty IT systems or security breaches it costs much more than you think.

Compelling Facts about IT Downtime

Cost of Downtime

  • 98% of organizations state one hour of downtime costs $100,000
  • $926 is the average per minute cost of an unplanned IT outage
  • Average financial loss due to downtime
    • 18% of organizations lose between $1000-6000
    • 10% of organizations lose between $50,000-100,000

Malicious Attacks

  • Average cost per record lost/stolen/corrupted due to malicious attack: $244

Technology Issues

  • Average cost of a single system glitch: $128

Improperly Backed Up Data

  • 32% of IT admins don’t test backup solutions because they feel it is a waste of time
    • 66% of healthcare organizations do not test backups for reliability
    • 63% of sales/marketing/media organizations do no test backups for reliability
    • 56% of architecture/building/engineering organizations do not test backups for reliability
  • 23% of IT admins didn’t think backing up more frequently was necessary
  • 53% of organizations back up less than once a day
  • 75% of organization with between 50-99 employees indicate daily backups would impact productivity
  • 74% of organizations need to recover data from backups at least once every six months. (22% need to recover data more frequently than once every two weeks.)

Security Breaches and Lost/Stolen Data

  • Average cost of a single lost or stolen record/file: $225
    • $146 of this represents indirect costs such as increased customer turnover
    • $79 of this represents direct costs such a new technology investments and legal fees
  • Average cost of compromised files by industry
    • Healthcare – $380 per record
    • Financial services – $336 per record
  • Average number of files lost due to security breaches: 28,512
  • Average total cost of data breach: $7.35 million
  • Average number of days it takes to identify security breach: 191
  • Average number of days to contain the security breach: 66