Data Recovery in the Event of a Disaster: Cost Implications & Win Back Strategies

“Data loss and downtime costs Nigerian businesses an estimated $1 billion annually, with about 85% of them going out of business within an average of 3 years” – NITDA

In today’s world, data is king, and companies that fail to prioritize their data backup and recovery strategy could be putting themselves at risk of significant losses. This was the case for Bola, Founder and CEO of a small accounting firm in Nigeria, who learnt her lesson the hard way.

Her firm was made up of a team of 8 individuals who worked tirelessly to ensure their clients’ financial records were accurate and up to date. Together, they were able to build a loyal clientele of small business owners and things were looking pretty well for Bola when one day, trouble came knocking…

Bola and her team had been working on a critical project one rainy Friday morning when a sudden power surge caused all their network server to crash! After a really long weekend trying to piece together the information they had lost, Bola and her team finally accepted the truth of their predicament. They had lost all their business data! – Their client files, transactions, and financial records were GONE.

How did this disaster impact Bola’s business?

Bola was devastated. Losing her clients’ data and trust due to something that could have been avoided was just too much for her small business to manage. Yes, they tried to hold up but consequently folded up 7 months down the line. It was at the point of making the tough decision of shutting down her once promising business that Bola realized she should have leveraged cloud backup as a more as a more secure and reliable option for storing and recovering her business data.  

According to a study conducted by the National Information Technology Development Agency (NITDA) in 2020, data loss and downtime cost Nigerian businesses an estimated $1 billion annually. The study also found that 85% of Nigerian businesses that experienced data loss or downtime went out of business within 3 years.

Additionally, a report by one of the leading cybersecurity firms in the world, Sophos, in 2021, found that Nigeria has the highest rate of ransomware attacks in Africa – a situation that can result in significant data loss and downtime for businesses.

These statistics demonstrate the significant impact that data loss can have on your business, including financial losses and potential closure of the business. It is, therefore, essential to have proactive data backup and recovery strategies in place to mitigate these risks.

Win back strategies for recovering your business data in the event of a disaster

From Bola’s story, and the statistics above, we can see that the implications of a data loss can be staggering for any business – with small businesses often more adversely impacted than big corporations.

Has your company been a victim of data loss? All hope is not lost. These win-back strategies will help you recover your data and back on your feet!

  1. The first step is to assess the damage and determine what data has been lost. Once you understand the extent of damage caused, you can be better informed about what you need to recover.
  2. Next, is to speak to a team of data backup and recovery experts (link to contact us page) to see what can be done to retrieve your lost data.
  3. The last step is to deploy a data backup and recovery solution like Babylon Cloud to prevent future data loss. 

What is Babylon Cloud?

Babylon Cloud is a fail-proof data backup and recovery solution that ensures you never have to worry about losing your data again. With Babylon Cloud, data is automatically backed up to secure cloud servers, and in the event of a disaster, you can easily recover lost data within minutes. This means no downtime, no lost productivity, and no missed opportunities for you and your business!

Babaylon Cloud: 4-in-1 unique platform for cloud backup, restoration, syn and share and file transfer

This cloud backup solution is particularly suited for small and medium-sized businesses who may not have the resources to invest in expensive data backup and recovery solutions.

Babylon Cloud offers businesses several benefits such as:

  1. Cost-Effectiveness: Affords you the flexibility of choosing a backup and recovery plan that works best for your business, so that you only pay for what you need. This means you get to protect your business data without breaking the bank!
  2. Automatic Backup: Automatically backs up your data, thereby eliminating the need for manual backups. This ensures that your data is always up to date and protected.
  3. Scalability: You do not have to worry about migrating your business data from one cloud services to the other when your business expands. Babylon Cloud can be scaled to meet the needs of businesses of all sizes.
  4. User Friendly: Babylon Cloud is easy to use and requires no special training. You can set up your backup and recovery plan in minutes and have peace of mind knowing that your data is protected.
  5. Rapid Support: Our team of data backup and recovery experts are available to support you after deployment, to ensure you are getting maximum business value from your investment. We are committed to ensuring that your data is always protected.

Why You Shouldn’t Wait Until A Disaster Before You Act

Data Backup should not be a debatable option for organizations as the cost implications can be staggering, and companies that do not prioritize their data backup and recovery strategy may as well be putting themselves in front of high-speed train track – to be mowed down by the in-coming train.

Babylon Cloud offers you the fail-proof protection you need to overcome the risk of data loss, and also equips you with a 100% possibility of easily recovering from a data loss disaster without blinking an eye!

Don’t wait until it’s too late, invest in a data backup and recovery solution today! Contact us to get a 30-day free trial.

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