Understanding downtime cost is imperative to the modern day business, regardless of size, industry or offering. It needs to be understood so that a business can easily plan for business continuity and recognise how long downtime can be experienced before unrepairable damage is done. However the true cost of downtime can be hard to predict with many variables defining this price some that are often not even considered.
How was sale revenue effected? Receive examples and formulas to calculate this loss.
How was productivity impacted? Easily estimate the cost of this variable following precise instructions.
Damage to brand
How was the company brand tarnished? Discover how to calculate this and understand the short and long term repercussion to the business.
Business Continuity Planning
In order to understand what the budget is for a business continuity plan, the cost of downtime must first be understood. With every business having a different resilience to downtime each solution needs to be different, however it is easier to choose the right solution when this cost is understood.
Calculate Appropriate RPO/RTO
Recovery Point Objective (RPO) refers to the point in time a business can recover back to after an outage or failure.
Recovery Time Objective (RTO) defines the maximum amount of time a business can remain down after a disruption.
Understanding the cost of downtime can help to establish these timeframes, which are important to business operations.
Monetary Savings From Business Efficiency
By analysing business critical systems and the dependant business functions, potential damage can be understood in a detailed manner promoting efficiency across the business resulting in monetary savings.