Uncovering the Hidden Costs of IT Downtime for a Business

Most business owners if not all think that IT downtime means system outage that is caused by a power cut or server breakdown. However, the internet can cut down on your business’s performance even without your knowledge. Even a minor issue like slow web pages or unresponsive website tab can significantly drop down the performance of your business. IT consulting companies in VA say that a business can lose its business or workforce productivity due to a slow server or poor website upload time.

What causes IT downtime?
There are various causes of an IT downtime.  Out if it, overloading is the most common reason. This usually happens if so many users try to operate a service at once. Besides this, system downtime can occur due to various physical events like the power outage or server damage. Severe server problems can also arise due to accidental damages or vandalism in most cases.

When counting server downtime causes, IT consulting companies suggest, it is essential to consider malicious attacks as well. Since cases of cyber crimes and data breaches are in rising, hacker and cybercriminals can cause collateral damages to any business.

Having set so, let’s understand how profound the effect of an IT downtime is for a business?

When talking about a server downtime, it is inevitable to talk about the financial implication it brings to the business as a huge amount is required to identify and resolve the IT downtime. The IT downtimes are often very complicated to determine. It involves testing before it can be fixed and repaired. An experienced IT team can only conduct all of this. In many cases, the IT testing and repairing cost is exceptionally high and time-consuming.

Productivity – the most significant cost when IT downtime strikes
Direct costs like IT repair and maintenance is only a minor part in server downtime. When a business starts to add up the productivity cost a downtime incurs, they understand the gravity of the issue. With the popularity of internet and technology, companies are increasingly shifting towards cloud services. Employees are more dependent on technology to perform even smallest of tasks like keeping the record of consumers to essential services like taking payments. In such a case, even a minute server downtime can halt these operations can affect the productivity of the workforce.

It is evident from a study conducted in the U.S in the year 2013 where it was found that on an average, a business suffers around $7,900 every minute due to downtime. As a typical server outage reaches over 55 minutes, it is clearly a significant loss of business and profit by organizations. But even though corporations are aware of the gravity of consequences brought by a server downtime, not all companies choose to make provision for it. As per a survey, it was estimated that around 90% of businesses had faced episodes of sever server outage or a cyber attack in the past two years. For the rest 10%, chances are they might meet the effect of downtime in the future.