The Cost of Downtime

Published on September 28, 2020

Costs of Downtime, Education

Have you ever done the math? When your remote business network unexpectedly crashes, the resulting IT downtime can have an enormously detrimental impact on your staff and operations, as well as your bottom line.

If you calculate the monetary losses considering your revenue, type of industry, and length of the outage, you’ll understand the pain points. Contemplate what can happen at particular times of day, the critical nature of your transactions, and the number of people impacted, and you have some damage control to manage!

IT downtime can cost up to $5600 per MINUTE. Calculating out to the hour, this can run you $336,000 for one precious hour of lost business.

There are also intangible costs. The frustrated staff has to walk away from other vital projects to address the interruption. Long-term projects and improvements will be put on hold until the infrastructure is up and running. Getting service techs out to the field, lost productivity, and a potential downturn in employee satisfaction and retention adds to the fray.

It can happen to all of us at one time or another, but the best practice must include being prepared with remote backup services and web power switches ready to deploy. IT infrastructure and architecture are increasingly complex, and it’s critical to understand where the weak points are in your network—that should be the first step in your contingency plan.

Please take a moment and implement our Cost of Downtime Calculator. It will provide step-by-step guidance to help you clarify the true cost of network outages.

Making the first steps toward intelligent preparation and creating an outage recovery plan will help keep you online and save you thousands of dollars…and thousands of headaches.

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