One of my favorite things about my job is helping my clients explore new ways to improve their organization. Recently, I helped one company protect their most valuable asset – their data. They needed a comprehensive data backup plan and they didn’t want to use one of the many existing tools on the market, be it Dropbox (because of the hacks) or pricier options. So I recommended a data backup tool my admin team is now custom building, just for them.
They’re on the right track. What about you or your organization? Is data backup a priority? This is why I think it should be:
1. It protects you: Here’s a staggering figure: 70% of data disasters are caused by human error, errors that are almost always preventable. They, along with cyber attacks, hardware theft, and even natural disasters lead to data loss. Regular data backup protects your company from all of the above. But it also protects your customer and the trust they’ve put in you. In fact, I think this may be biggest reason for a thorough data backup plan. Business is more than transactional – it’s relational. When a customer invites your into their life with what you have to offer, your goal must be to maintain that relationship. With data backup that works, you protect everyone.
2. It boosts productivity: Lost data can be catastrophic for a business, an event many companies don’t survive. This is because crippling downtime and time spent redoing lost work during recovery is bad for business. After all, time is money. When your valuable employees are focused on duplicating what was lost, they can’t focus on what really matters: growing your business. With data backup in place, your organization can work on moving forward with things like product development and consumer satisfaction. This keeps your customer – and not an emergency – the priority.
3. It keeps you compliant: Increased regulatory oversight makes protecting customer data more important than ever. Consumer rights policies are complicated, and there are surely more to come. By preparing for the worst, you communicate to your customer that their rights are at the forefront of your product and services development lifecycle. But don’t just plan for it, talk about it. Be transparent with your customer about how you’ll become and stay compliant with data backup.
4. It gives you a competitive advantage: Data loss can lead to more than lost revenue. Even a small event can trigger public scrutiny and customer mistrust. With a thorough data backup plan, you demonstrate to the customer that they can trust you with their information, which in turns helps your brand reputation. In fact, merely staying compliant with current data regulations is now seen as a brand differentiator. This is because customers stay with companies that show they care about doing the right thing – even when it takes effort. So think beyond profit alone and build something that helps you stand out from the competition.
So, let’s go back to the original question, is data backup good for business? Absolutely – in more ways than one. I’d love to help you with a plan that works for your organization.