We have seen how far technology keeps pushing its boundaries forward. The devices we see become more complex and efficient and storage capacity of tech devices just keep on getting bigger. Humans rely heavily on technology on a lot of things and we can’t go about with our daily lives without our handy smart gadgets that allow us to do just about everything you can do on a laptop or a computer.
If there is one major drawback to our addiction to technology, it’s how we cope in its absence especially when we haven’t prepared for it like in the case of disasters. Tech gadgets in itself are kind of pricey and can’t be easily replaced but more so the data you have stored in these devices that you suddenly lost access from because the device is now broken or have failed due to hardware issues.
Most businesses have gone digital too and it can cause a lot of problems if these businesses haven’t prepared for when disaster comes. Services would become temporarily unavailable and consumers will be frustrated as well in the absence of even the most basic of services. Some of these problems can be avoided, though, with proper planning and preparation. The cloud is one platform everyone should look into because it can save you from some major headaches if all data and processes are backed up on the cloud.
More and more financial institutions are going to the cloud for their technology needs. This burgeoning migration promises to transform hardware-intensive processes vital to effective risk management, such as pricing calculations, regulatory reporting and disaster recovery.
But moving in-house hardware and legacy systems onto cloud-based applications carries challenges as well as gains. Firms are concerned about data security, for example, when pursuing the opportunities for speed, agility and consistency that cloud technology promises.
A poll conducted during the Risk.net webinar confirmed that many firms are only just beginning to consider cloud adoption. State Street, however, has been using cloud technology for at least six years. The US bank began by building its own private cloud data centres, providing insight into which applications are best suited to the transition.
Fortunately, both average computer users and big businesses are now taking advantage of the many benefits that the cloud has to offer. Cloud services are so much better now and most data security issues have now been addressed. There are also different packages to choose from, so you can surely find something that will match your needs and budget without sacrificing the privacy of your data. There are even cloud services that come for free but only offers a limited data storage capacity. No disaster should worry you anymore if you can safeguard the entire foundation of your business by making the most of cloud computing.
If you can’t afford post-disaster downtime, the cloud should be a critical component of your recovery plan. However, it’s not a magic bullet, nor is it one-size-fits-all. You’ll need to evaluate your operations to make sure you’re choosing the right solution before you rely on it.
Start by identifying your processes in order of importance. This boils down to your business model: how long can you afford for each process to be offline post-disaster? What operations are critical enough that you can’t afford even a few minutes of downtime, and what can wait a few hours or even days? Determine whether your potential cloud solution provider can not only store the amount of information necessary to maintain critical processes, but whether it can provide high availability to get you back online quicker.
Even manmade disasters like malware and other online bugs shouldn’t worry you that much anymore because you can come up with a disaster-proof recovery plan that is mainly anchored on the cloud. It is the most practical step you can take to safeguard your business and the data of your consumers from any untoward eventuality or whatever form of disaster you can even think of. Don’t risk the future of your business especially if you can’t easily produce cash needed to get your business back on track. You’ll be business as usual as if no calamity has hit your area. While others are still struggling to get back on their feet, you just keep on making money and meeting your customer needs when they need essential services the most.
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