Why Your Business Needs a Robust Backup Strategy Now More Than Ever
From cyber attacks to hardware failures, the potential for data loss is ever-present. Taking a strategic approach to IT (like the one we discussed here) should include an in-case-of-emergency recovery plan. Prioritising backups, though, can minimise the odds of you ever needing to break that glass.
In this blog, we’ll explore the critical importance of such strategies, focusing on real-life instances of data loss, the role of backups in business continuity, and how to implement a comprehensive backup plan for your London SMB.
Damaging Data Loss IRL
Manual Process Mistakes
The New York Stock Exchange (NYSE) fell into chaos in January 2023 after a staffer mistakenly left a backup server running when it should’ve been turned off. One simple act of forgetfulness led to a cascade of trading issues, causing widespread market disruption. It’s hard to fathom the NYSE still relying on manual processes for such an important task, and this incident certainly highlights the dangers of doing so. What it also illuminates is the importance of automated, well-monitored backup systems to avoid such costly operational mishaps.
Off-Site Server Failure
In December 2021, the Kronos Private Cloud, a service used by many UK businesses for timekeeping and payroll, was hit by a ransomware attack. This disrupted operations for several weeks and affected numerous businesses, including some in London. The attackers encrypted data and demanded a ransom, leaving companies scrambling to implement alternative business continuity protocols. If their losses weren’t enough, Kronos ended up paying a $6 million settlement for their cyber security oversight.
Kronos’ IT solutions housed elsewhere weren’t affected by the attack. The lesson? Secure and regularly test off-site backups to ensure they can’t be compromised should your on-site systems be.
Why Backups Ensure Business Continuity
As the above examples illustrate, a robust data backup strategy is a major part of effective disaster recovery and business continuity after an IT incident. For London SMBs, the ability to quickly recover from data loss can mean the difference between staying in business and shutting down. Backups ensure that your vital data’s available even if primary systems fail, allowing your team to resume operations with minimal disruption.
The Benefits of Being Prepared
Having a comprehensive backup strategy that ensures data is stored in multiple independent locations offers several benefits:
- Minimised Downtime: Quick data recovery reduces the time systems are offline, meaning you can resume business as usual before facing significant damage.
- Data Integrity: Regular data backups for London SMBs protect against data corruption and loss, ensuring the data that guides your decisions remains accurate and reliable.
- Financial Protection: Avoiding the costs associated with data loss, such as lost sales, regulatory fines, and reputational damage is a key benefit, especially for SMBs who have less leeway in these areas than larger corporations.
- Regulatory Compliance: Many industries have regulations requiring data protection and retention. A solid backup strategy helps meet these requirements.
- Peace of Mind: Knowing that your data is as safe as possible allows you to focus on growth and innovation rather than worrying about potential data disasters.
How to Create a Robust Backup Strategy
To devise and implement a comprehensive backup plan, London SMBs should consider the following five steps:
- Assess Your Needs: Evaluate what data needs to be backed up, how often, and what the risks to it are. This includes identifying critical data—your customer’s confidential information, any financial details that you need for auditing purposes, etcetera—and understanding the potential impact of data loss.
- Choose the Right Solutions: Select backup solutions that fit your needs, such as cloud-based backups, off-site physical backups, or, ideally, a hybrid approach. Ensure these solutions are scalable and secure by sourcing them from a reputable provider.
- Automate Backups: Automate your backup process to ensure it’s regular and consistent. This reduces the risk of human error and ensures that should you need to recover files, they’ll be up-to-date and useable.
- Test Your Backups: Ask your IT support team to regularly test your backup systems to ensure data can be restored quickly and accurately. This will help identify any issues before a real disaster strikes.
- Enlist Expert Help: Consider enlisting external IT services to design, implement, and maintain your backup strategy. Professionals can provide valuable insights and ensure that your backups are secure and effective, and their range of expertise could exceed that of a one-person in-house tech crew.
Data Backup Errors for London SMBs to Avoid
We’ve outlined how to design and implement a suitable backup strategy—now here’s what not to do:
- Infrequent Backups: Not backing up data regularly increases the risk of significant data loss. Ensure backups are performed frequently, based on the criticality of the data. The more important it is, the more often it should be backed up.
- Single Location Storage: Storing backups in a single location (on-site or off-site) makes them vulnerable to localised disasters. Use multiple independent locations for storage—we’ve discussed the role cloud-hosted systems could play in securing your business here.
- Lack of Testing: Failing to test backups regularly can result in discovering too late that data can’t be restored. Regular testing ensures reliability—don’t just assume all systems are working as intended.
- Ignoring Security: Not securing backup data can lead to breaches and ransomware attacks. Ensure backups are encrypted and access is restricted to only those who need it.
- Overlooking Documentation: Not documenting the backup process and protocols can lead to confusion and errors during recovery. If you want to maintain business continuity, clear, comprehensive records are a must.
Final Thoughts
These days, there’s no excuse for not having a robust data backup strategy. The risk of data loss from on-site and off-site server failures, cyber attacks, and other disasters is too great to ignore. By ensuring their data is stored in multiple physical and virtual locations and can be recovered quickly, London SMBs like yours can safeguard against unexpected data loss, maintain business continuity, and protect their bottom line. Investing in a comprehensive backup plan, supported by external IT services if needed, is an investment in the future resilience and success of your business.
Backup Your Business With 4TC – Expert IT Support for London and the Southeast
Although we offer flexible, forward-thinking IT solutions to small and medium-sized businesses from our offices in London and Essex, we like to think a partnership with us provides more than that.
We pride ourselves on developing long-term relationships that add value to your business with high quality managed support, expert strategic advice, and professional project management.
If you’re ready to elevate your backup strategy, we’d be happy to share our wisdom. Get in touch using our contact form today!
