Tech spending is a big line-item in today’s economy. As a matter of fact, businesses spend about 4 trillion dollars on it every year and that amount is likely to continue rising as companies navigate productivity issues during COVID.
Among the many things that companies invest in within the realm of technology, data backup seems to be among the most important and for a good reason: It can save your business from productivity, financial and legal headaches.
If you’re not privy to the importance of data backup, keep reading. Below, our team breaks down the top reasons why data backup should be a priority for your business in 2020 and beyond.
1. Avoiding Data Loss
The most obvious reason that supports the importance of data backup is that with your data backed up, you stand a much lower chance of losing it. If your data is worth keeping around, if you rely on it daily, do yourself a favor and give yourself every opportunity to keep it from slipping through the cracks.
2. Office Mobility
Just about every office worker in America was displaced recently due to COVID-19. With office shutdowns gradually loosening but still no certain end in sight, believe us when we say that organizations that invested in cloud computing services (and consequently had their data backed up) enjoyed a much smoother transition.
With your data living in an external cloud, no matter where you are, it can be accessed. That means losing your office space won’t ever mean losing your ability to access the files that are integral to your business’ operation.
3. Improved Collaboration
Data that lives in a central point is data that can be shared between colleagues. This is one of the key benefits of backing up data.
Imagine if your company could make it so all of your files were automatically synced to the cloud and that team members could make edits to those documents which would then filter down to other team member’s machines. That seamless teamwork is something that businesses are enjoying right now given their partnerships with sophisticated backup solutions.
4. Surviving Audits
Nobody expects to be audited by the IRS or other legal authorities. Despite that, millions of people and businesses are every year.
What’s worst is that audits are rarely if ever conducted on current year’s taxes. In most cases, audits will go back close to five years.
Do you have financial data on your company handy from five years ago? If you don’t, you’ll run into issues.
Having a data backup solution means that all of your important files, no matter how old, always have a place to live that can be accessed when needed by your accountant, lawyer, or other members of your broader team.
5. Customer Reassurance
What customer wants to do business with a company that doesn’t back up their information? Chances are, very few.
Your customer’s records should be important enough to you that you’re not willing to let a server crash or other technical issues make everything disappear. If it’s not, your consumer base will feel that indifference and choose to take their value elsewhere.
6. Less Time Wasted
Several small time sucks pop up throughout a standard workday. These productivity vampires aren’t things that are usually tracked on a corporate level but believe us when we say that they cost you money.
Among them is redoing work.
Every time a Word document goes missing, an Excel file doesn’t save or similar events take place, work needs to be repeated. That could be costing your company hundreds of hours per year depending on the size of your organization.
With automatic data backup in place, you’ll cut down on those wasted hours which may more than pay for the cost of putting a backup solution in place.
7. Surviving Hack Attempts
Some government organizations field millions of hack attempts every day. Those institutions have the manpower to ward off those bad actors. Does your business?
Data breaches can cost companies millions of dollars and may make it so they’re never able to recover. Furthermore, the prevalence of data ransoms is on the rise where hackers gain access to data and encrypt it so businesses have to pay to regain access.
Therein lies yet another feather in the importance of data backup hat. Having your data secured in a secondary place means a speedier recovery when adversity strikes.
8. Staying Ahead of the Competition
Competitors that can work remotely, recover from hacks and protect customer information are competitors that are going to run circles around you if you can’t do those same things. Believe us when we say that, no matter what business niche you operate in, somebody you’re competing with is ahead of the backup curb.
Do yourself a favor and get ahead with them.
9. Better Sleep
Finally, you can’t put a price on being able to sleep better at night. Knowing that your data and team can survive various strains of adversity thanks to your key data being backed up can help you snooze worlds better.
No Blog Post Can Fully Communicate the Importance of Data Backup
Over the last couple of minutes, we’ve rattled off reasons that support the importance of data backup in hopes of impressing upon you why the investment is worthwhile. Truth be told, nine bullets on data backup barely scratch the surface as to why keeping your data safe should be a corporate priority.
Despite that, we hope we’ve given you enough information to start digging deeper into the boundless topic of data security and to take action. Your future self will thank you if you do.
Are you hungry for more technology tips? If you are, we welcome you to read the latest content we have posted in our digital publication.