Is Your Company Prepared for a Disaster? Statistics About Disaster Preparedness You can never be too careful with your vital business documents, but you need to have a plan in place so that when a disaster strikes you can quickly rebound. Companies that are not prepared could suffer the consequences ranging from prolonged system downtime to losing competitive ground and even going out of business. Disaster recovery plans range from the grandiose for large companies with complex IT environments to none for most small and medium organizations, a good disaster recovery plan needs to be practical. Identified issues with disaster recovery and compliance issues associated with paper documents. 55% confirmed they had no formal disaster recovery plan for information that is paper based 17% were making additional paper copies and sending them off-site for storage The same survey then posed a hypothetical disaster such as a fire and then asked the participants what the impact would be to their organization. 41% indicated that the disaster would pose a moderate problem; some documents are backed-up, but not most items, requiring some amount of time to recover 28% indicated a disaster would pose a minimal problem since they backed up most documents electronically or in hard copy 24% said that a disaster would pose a major problem; no back-up or paper documents exists in their organization resulting in severe impact to their operations 7% only seven percent said a disaster would pose a minimal problem because they have a complete system in place to recover lost paper documents Government Compliance from the same study 67% confirmed they had regulatory compliance standards associated with the documents they worked with 23% said the documents they work are not associated with any compliance standards 10% said they had not idea if their documents came under regulatory compliance standards Data Source - a study conducted by PricewaterhouseCoopers, LLCA The Importance of Having a Business Continuity Plan Not surprisingly, companies which have suffered from a natural disaster are most likely to have a plan (84%). However, more than one-out-of-four (28%) still say business continuity planning is not a priority or “not important,” despite the effects of several natural disasters in the United States in 2005, indicating companies are still taking unnecessary risks with their financial futures. In addition, a surprisingly high percentage (22%) of companies that say they have suffered from a disaster in the past do not consider business continuity planning to be a organizational priority, despite the fact that an equal number (22%) of these companies which have suffered from a disaster say previous disasters cost them $100,000 or more in revenue a day. Suffering from a Disaster Three-quarters (73%) of companies that suffered from a disaster say they lost money because of it, up from 65% in 2005. Once again, most (50%) say they generally lost less than $100,000 a day (compared to 45% in 2005), and 14% added they lost $100,000 to less than $500,000 (16% in 2005). In all 5% of those who suffered from a disaster say it cost them $1 million or more per day (up from 3% in 2005), including 3 companies who said it cost more than $5 million per day Data Source - The AT@T 2006 Business Continuity Study found: FicheNet Imaging Solutions specialty is records archiving. If you have paper we have proven solutions. The information provided are some statistics to get you thinking and hopefully jump start your efforts. Identify your critical business information and then contact us to set your plan in motion. <>Back to Top<> Contact Us__|__Send e-mail__|__Site Index__|__Home Page