Why is a Backup Solution Essential For Businesses in 2022

With each year that rolls by comes a new set of challenges to the cyber security industry. You only have to look at the news to see information about the growing cyber threat worldwide.

Since the COVID-19 pandemic has driven rates of working from home up, there are more targets than ever in the eyes of cybercriminals – and data is increasingly at risk.

And yet, even with all that in mind, some business owners still continue to underestimate the value of backup solutions in 2022. In fact, according to a study by Small Business Trends, almost 58% of businesses don’t have a backup plan for lost data.

If your organisation has not yet invested in a back up solution for its data, read on to find out why you could be missing out on the most crucial element of modern cyber security.

How does data backup work?

Once a copy of your data is made, backup software is able to transmit a copy of it over the internet (or across a network). From here, the data can be stored in a local backup server or cloud-based backup solution online.

During this process, the backup software is able to compress your data in order to reduce the amount of space needed to store it.

Since every department in your company requires some form of data in order to function, any of the following could be backed up: files, delivery information, folders, images, payment data, PII (Personally Identifiable Information), account information, and any transactional data.

Why are backup solutions so essential for businesses?

A modern organisation is responsible for large flows of data — collecting, producing, analysing, and storing it.

And with great responsibility comes great risk! Customer, employee, and systems data is always at risk from threats such as the following:

• File corruption
• Data loss
• Malware
• Internal attacks from disgruntled employees
• Phishing emails and social engineering schemes
• Third-party risks
• And so many more.

As a result, data protection and backup has become crucial for business continuity and — indeed — success. And here’s why:

Lost data = reputational damage

As we’ve said, if your data is corrupted or lost with backup software in place, it can be brought back no problem. However, if you don’t have this safety net set up, it is a whole different story.

Not only will you encounter a number of financial costs (for remediation purposes), but the reputational costs will be sky-high too. If you think about it in terms of trust, it becomes easy to see why.

Customers, stakeholders, and any other contacts allowing you to store their data are, in essence, engaging in an act of trust. They trust you to keep their personal information safe. So, if you are unable to do this, that trust is lost and is extremely difficult to regain afterwards. These broken bonds may do further damage still if word gets out; new customers may be reluctant to join you and even employees may question your competence.

In light of this, It is baffling to think that 68% of small businesses don’t have a disaster recovery plan, then.

Preventive measures don’t always work

When discussing data loss, it is important to acknowledge the level of inevitability that comes with it. At one point or another, your cybersecurity protection may fail you. It is almost impossible to guarantee complete protection, securing every hole in the net.

However, what is controllable is your response to data loss. By recognising that your organisation’s data may well be compromised on a few occasions, you open yourself up to a better understanding of backup software. Take a proactive approach to the security of toys company’s data by assuming the worst will always happen and pre-preparing for data loss.

You cant predict certain threats

When it comes to data loss, not every threat can be anticipated, especially insider threats. On occasion, a disgruntled employee or a third-party agent with excessive permission may erase business-critical data.

If this should happen, backup solutions can help minimise the ripple effect of their malicious actions by allowing you to recover any lost data (and repair any damage) almost as quickly as it was removed.