Although digital transformation has a track record of being significantly beneficial for companies, if the tech is not utilised effectively it can do more harm than good. One increasingly common example of this is tech downtime.
Recent research from Uptime Institute’s 2022 Outage Analysis Report found that downtime costs are continually rising since the average $9,000 per minute in 2015:
Companies that experience frequent downtime have 16% higher costs than their less frequent counterparts according to LogicMonitor’s IT Outage Impact Study. Risks of downtime also increase depending on the industry as high risk industries include:
Not only does this reap potentially devastating effects to a company’s financial health but it is also harmful for customer trust, brand reputation, internal productivity and employee retention.
Additionally, as insufficient funds is one of the leading reasons startups fail, startups are particularly vulnerable experiencing a tech outage as they do not have the bigger operating margins or reserves to absorb these types of costs.
To prevent the enemy, you need to understand the enemy. So why does downtime occur? The four most common causes of downtime are:
Therefore, reducing downtime should be imperative for business security. But how do organisations actually mitigate these risks?
Although tech is constantly evolving and improving, downtime is inevitable. Thus, constructing an effective foundation with a good quality technical team is crucial as cybersecurity threats and human error are aggravated by employee knowledge and skills gaps.
Site Reliability Engineers can assist in reducing downtime by making systems more reliable, building measures into the pipeline and delivering it out for long-term scalability.
Find out more about the benefits of Site Reliability Engineering by watching the video below from our consultant Andrew Southall.
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