Business Continuity Application usually is used to ensure the uninterrupted flow of a company’s operations by identifying risks, estimating their disruptive potential, and implementing procedures to mitigate them.
#1: Disaster recovery
Disasters sometimes are inevitable. Their unexpected nature is what makes them so devastating. Being prepared may not prevent the disaster, but it does mitigate the impact on your business.
Often when we think of disasters, we think of major events like earthquakes, floods, and natural disasters. These, however, aren’t the only causes of downtime. Disaster recovery plays a vital role in the restoration of company’s operations.
Data deletion due to human error, poor security habits of users, and incompetent employees or accidents also rank among the prime reasons for IT downtime.
#2: Data shows backups are not enough
Most companies deploy some form of data backup. Having data backed up does you no good if you cannot access it, such as could occur in a power outage or need to leave an office site even on a temporary basis.
Accessing data in the event of a disaster can prove a problem. After all, having a backup is different from accessing it.
It’s a question business continuity planning asks: How will you access that data in the event of an outage?
By deploying business continuity and disaster recovery solutions leveraging cloud technologies and virtual servers, organizations can run critical business applications from backup instances on virtual servers in the cloud. This approach enables you to effectively “flip a switch” and can keep your downtime to a minimum.
#3: Insurance does not protect your data
Yes, it can cover the costs of repairs, but in terms of loss of revenue and business prospects due to downtime, it has little effect.
Insurance isn’t enough to cover brand reputation damage due to poor customer experience from incessant system glitch.
. Cyberattacks are becoming more sophisticated and successful every year.
#4: Competitive edge
Getting your network back up and running fast, restoring access to your business data and documents, and reconnecting your employees to communicate with each other and support your customers allows for your organization to stand out as a leader and one that can be trusted and relied upon.
You have a big advantage over your competitors if you can restore normal operations while they are still trying to figure it out.
#5: Business must go on
Keeping a business going is essential. Taking a very simple view, if you lose the ability to buy and sell, your business – for all practical purposes – ceases to function.
Business continuity makes this possible by establishing actions that must be taken to ensure operations remain active, no matter the nature of the disaster.
KRONOS CLOUD CYBERATTACK: CUSTOMERS LEFT IN A MESS.
Kronos Private Cloud, a HR management platform, has suffered a ransomware attack that has left multiple public and private sector customers reliant on its software reeling.
UKG became aware of the attack late on Saturday, December 11, due to unusual activity affecting the company’s range of solutions that utilise the Kronos Private Cloud.
Kronos customers are not just out a payroll provider ahead of one of the busiest seasons in several industries (and a common time for distribution of yearly bonuses), but are also left wondering if they lost a variety of sensitive data. Payroll providers have access to both corporate and individual financial information that could easily be used for theft and scams, and ransomware attacks now frequently begin with the exfiltration of data such as this and threats to publish it on the dark web if payments are not made.
Kronos’ work management software is used by a number of major corporations and local governments, including Boots, Sainsbury’s, Santa Clara Country, Temple University, Tesla, and Winthrop University Hospital.