Here’s an eye-opener for finance chiefs: Network downtime costs U.S. companies a staggering $1.7 billion annually.
In addition, significant downtime is a far from uncommon. Last year, 25% of companies had network outage that lasted four hours or more.
These stats come from a recent study from the tech vendor CDW.
The study also revealed how the lengthy outages were likely to occur:
- Loss of power (32% of major disruptions)
- Hardware failure (29%)
- Loss of telecom service (21%)
- Security attacks (6%)
- Sabotage (3%)
- Natural disasters (3%), and
- Fire (1%).
You’ll want to check in with IT. While they can’t prevent all major problems, they should be able to minimize the major ones.
Here are a few things IT should be doing to :
- Conducting power outage tests regularly
- Adding uninterpretable power supply systems for critical components, and
- Working with other departments to figure out which functions need to get the highest priority.