We now live in a knowledge economy. Your business data is mostly digital, and as your business grows, this digital data grows exponentially. As the data grows, so too does the value of the data to the well-being of your business. The need to protect this data is absolute.
If you are looking for data recovery services, the chances are you have already lost some of your valuable data.
What is the value of the data that you have lost?
This really varies on the basis of what the data does for you. If it is the data that records all the transactions in your business, it is of course enormously valuable.
It now means that the following are lost to you:
1. Stock levels: You now have no idea what your stock levels should be and therefore you are at risk of the theft of your products with no means of even determining whether they are gone or not.
2. Supplier debt: You now do not know how much you owe your suppliers, what you have paid, what is outstanding or what you have pre-paid on overseas orders.
3. Customer debtors: How much are you owed by your customers? Can you produce an invoice or statement of outstandings due, how do you prove they are indebted to you?
4. Balance sheet and income statement for your company: There is now no way of producing accurate books for your shareholders, for the receiver of revenue as well as for your management purposes.
5. VAT records: You now are unable to produce a VAT 201 report that reflects accurate input and output tax details.
6. Employee salaries and HR records: The loss of this data causes obvious serious problems.
In addition, you may have lost all your emails, documents and spreadsheets.
All of this data together constitute the 'memory' of your business.
I am unable to tell you what the value of that data is to you. It could be thousands or it could be millions of Rands. But I prefer not to think of it in terms of money. It is potentially the bond fees, school fees, car payments or food costs of all your employees. It is your financial security and your future - all unprotected on your computers. The investment in protecting your data is tiny compared to the cost of the loss of that data to you, your business and your employees.
So how does one mitigate the cost of data loss to your business?
A data recovery service that backs up data every day, year in year out, costs nothing in relation to what the loss of data can cost you. If you have data recovery services in place, a small monthly fee and the cost of a telephone call is all it takes to get your data is back in the event of a disaster. Your backed up, encrypted data will be re-installed on all of your machines, which will back up and running within hours.
So, before you find yourself typing 'data recovery services' into Google in a panic, make sure that your data is safe and secure.