As witnessed by the recent disasters than ravaged Japan, as well as the tornadoes that blew through the Southern states in the U.S., businesses can be quickly affected without notice.
While structural damage might occur at the buildings of these businesses, one of the most important and sensitive areas is a company's data. Buildings can be prepared, however, data cannot always be recovered. Thus, it is becoming a necessity for companies to adopt and implement disaster recovery plans.
"In current times the risk is becoming greater than ever both in terms of natural disasters and terrorist attack," said Julian Buck, managing director of Version One. "The impact of this can cause significant disruption to a business’s day-to-day operations from which many never recover from."
Disaster recovery plans can include offsite storage or other various document management technology. While corporate spending can be tight in terms of technology, a recent report discovered that data loss cost U.S.-based companies more than $7 million per instance during 2010.
Thus, having a plan, as well as liability insurance, in place is becoming a necessity for many businesses currently.