The financial sector is increasingly reliant on the availability of their IT systems. Regulatory bodies like the FCA have encouraged the financial sector to take action to properly protect their IT systems, outlining the standard of disaster recovery expected. But technology moves fast and as data and services grow, so does the dependence on IT systems.
Consider a situation where your critical servers are down. If it hasn’t happened to you then you’re fortunate as the average mid-sized company experiences downtime of at least 30 minutes every year. 30 minutes is generally no problem but what if that turned into hours and then days?
What are the impacts?
- Loss of productivity – employees are unable to work as they can’t access email, database servers (no CRM or ERP), file servers, terminal servers, Citrix environments and any other applications you may run.
- Direct revenue implications from billing and investment losses which can also lead to compensatory payment and loss of future revenues
- Financial performance costs involving revenue recognition, cash flow, payment guarantees, credit rating and stock price
- Damaged reputation from not just customers but suppliers, financial markets, banks and business partners
The more dependant we become on information technology, the more important availability becomes. In the financial sector, there tends to be a higher cost of downtime due to the nature of the business as direct costs can be magnified.
So disaster recovery for financial companies, to protect you against downtime becomes essential. You should look for the following benefits:
- The lowest possible downtime to minimise the cost
- Minimal loss of data to protect your reputation
- Low cost of solution
- Ease and simplicity of set-up, testing and recovery
Plan B is now offering financial organisations the ability to be back up and running almost instantaneously without the high cost of a mirrored server environment. Our Pre-recovery technology can give the highest performance levels, guaranteed and at a much reduced cost. Add into that the fact the process is fully managed and really simple is why mid-sized companies such as Campbell Lutyens, Coller Capital and Evercore have chosen to adopt our cloud based Disaster Recovery service.