In the event of a server crash or major disaster how confident are you that your business could continue operating? With 73 percent of companies admitting that they have experienced some sort of major disruption to their business operations in the past five years, business continuity is certainly top of mind.
However, with so many companies vying for your attention it can be difficult to sort through the “fluff” and choose the right business continuity provider that meets your unique needs. Before choosing a provider be sure to consider the following criteria:
- Total Cost of Ownership (TCO): The total cost of ownership is far more than just what you pay for the software and service. You must also consider upfront expenses, reoccurring costs, additional support fees, setup time and costs, maintenance and monitoring, disaster recovery testing, RPO and file recovery, and RTO and downtime.
- Reliability: When disaster strikes, you need a business continuity solution and provider you can rely on. You need a solution that’s stable, reliable, and offers quality support.
- Investment Protection: Odds are your business and IT environment will change within the next couple of years. Therefore, you need a solution that will grow with you, not a solution that will prove futile after a couple of years.
- Vendor Ecosystem: Before choosing a vendor, it’s important to evaluate their ecosystem. For example, who do they partner with? What other systems do they integrate with?
- Security and Compliance: You need a vendor that has you covered with security and compliance standards that meet your industry’s guidelines. Some pertinent questions to ask include whether they are SSAE-16 certified or have data encryption.
With downtime costing businesses an average of $163,674 per hour, don’t just rely on any business continuity provider. Choose the right one by following these five key criteria.
For more information and to better understand how to apply the criteria to your own business continuity project, check out our webinar recording here.