Cost of outages
Average cost of downtime 2018
In the grand scheme of things, fixing an outage is relatively cheap, but having your product go down is extremely expensive. For obvious reasons this calculation will never be perfect, but it will give you a solid understanding of the financial impact you can expect to incur in the event of an outage. In some cases, this might be as simple as paying overtime rates for the hours required to make up for time lost. For companies this is mostly good news; you gain more customers and revenue than was even conceivable a decade ago. Expect, and prepare for, an outage but never accept downtime. The time lost to stress and fatigue steals another 50 minutes a day. Once again, education is key.
Inthe study was based on 63 firms that experienced an outage that year. While a relatively short period, the cost and stress for the IT department of an outage is simply staggering.
Whether they come on again is often up to internal IT departments. Why are people losing so much more revenue from being down than ever before? What are companies to do? Some determined customers will simply come back later, when the outage has run its course.
Generators come in all shapes and sizes, and we carry a range of products to suit the needs of any business. Adopting best practice operational activities and processes- such as running regular threat and vulnerability assessment, conducting configuration reviews and including operation process validation checkpoints- can significantly reduce your chances of suffering from a systems failure.
It outages 2018
In some cases, this might be as simple as paying overtime rates for the hours required to make up for time lost. Outages, unfortunately, rarely last only a minute. It is worth considering, however, as a non-monetary incentive to invest in preventative measures. It could include additional temporary staff, weekend working, or sub-contracting. Today, much of their revenue comes from online subscriptions to their products or access to data center products. When all servers and systems are running smoothly, it can feel like your company has no reason to worry about IT outages. Lost revenue, productivity, and business disruption costs dwarf all other outage related costs.
Companies can invest in predicting and preventing future systems crashes and save an inordinate amount of money by not incurring the costs of outages.
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