European organizations are collectively losing nearly $23 billion (EUR17 billion) in revenue each year from the time taken to recover from IT downtime, according to a report from CA Technologies.
That's the equivalent of 13.5 percent of the proposed EU budget for 2011. CA Technologies believes much of this considerable cost to business and the economy can be avoided through better data protection strategies that focus on the speed of data recovery.
The report illustrates that the financial losses associated with IT outages quickly escalate the longer organizations take to fix them.
The survey of 1,808 organizations across 11 European countries reveals that each suffers an average of 14 hours of IT downtime a year, which equates to almost 1 million hours across Europe.
Comment from Chris Ross, Vice President EMEA and Asia-Pacific, Recovery Management and Data Modeling Customer Solutions Unit, CA Technologies: The smooth running of IT is critical for many organizations in today's fragile economic climate and any degradation in service not only affects employee productivity, but also can be very visible to customers. With companies increasingly dependent on online services to generate revenue or provide an essential channel of customer communication, the financial impact of outages is becoming a critical issue. Fortunately, much of this cost is avoidable - organizations can tackle it through a re-evaluation of their disaster recovery strategy. Doing so could have a direct impact on their financial position and help them manage their emergence from the recession.
Contact: http://www.ca.com
Contact: For country variations in the report, see http://www.arcserve.com/emea/acd
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