Engineers from one of Australia’s largest banks were recently forced to switch off their ATM, EFTPOS and Online banking services due to the failure of an air conditioning unit. This agonising decision was made after the bank’s disaster recovery plans were deemed to take too long to execute.
Through this incident, the issue of disaster recovery has been brought to the forefront and organisations are now looking at what considerations are necessary to ensure the successful recovery of data in the case of such a disaster.
“Disaster recovery is a risk game” stated Kareem Tawansi, CEO of software development provider, Solentive Software. “Organisations need to leverage how much they want to spend, in terms of hardware, software and human resources, with how much disruption they are prepared to accept should a disaster occur.
“It is important for organisations to weigh-out the benefits of a good disaster recovery mechanism with the hourly costs that will be incurred if a breakdown in systems was to occur. There are no rules of thumb, but it is estimated that most organisations would pay up to half a day’s revenue as a hedge.
“More and more organisations are relying on digital resources for day-to-day operations and this further emphasises the need for a disaster recovery plan,” concluded Kareem.