MBE Est. 2001
www.qcmtech.com
IT Downtime – Cost Factors
Many businesses use IT in everyday core functions – but an unexpected IT outage (think hardware failure, human error, power, ransomware, malware, or other unexpected outages) can lead to problems or nightmares in scheduling, communication, errors, managing documents, delayed or missed deadlines, and more.
The average cost of downtime in IT really depends on a lot of areas. Factors like business industry, machinery, number of people impacted (employees, customers, etc.), duration of the outage, holidays, weekdays, handling staff, external factors, and time can impact the cost.
IT Downtime – Indirect Costs
Other costs that don’t reflect in actual dollars include interruptions, working and figuring out and fixing the downtime problem, skillsets and reaching out for help if needed, waiting for help, communications with other contractors or customers, reconciling downtime issues and getting focused back to regular tasks, not to mention productivity, retention, and morale. In the Construction industry, the list goes on.
Your Data and the Cost of IT Downtime
Root Causes of Cyber Attacks in Construction-related Industries
Industry type plays a much greater role in propensity to lose business/revenue. Lower Education (94%) and Construction (93%) were most likely to report some loss of business/revenue due to attacks. 71% of Construction-related companies surveyed reported they had been hit by ransomware.*
In a survey* conducted, participants reported the following as determined causes of attacks in the Construction and Property industry in the last year:
IT outages translate to a SERIOUS LOSS in operations and profit.
*Source: https://cdn.theindustrybest.com/8TODOWLK/as/wjjjw4ckw96cgcm36pfpc4fj/QCM_Technologies__202305__PDF
27% - Exploited vulnerability
33% - Compromised credentials
24% - Malicious emails
15% - Phishing
1% - Brute force attacks
85% surveyed reported that cybercriminals were able to succeed in encrypting their data*
IT Downtime – Cyber Issues
Accidental failures in technology are costly, but outside influences by hackers or other threat actors can really escalate the financial outcomes that can ruin a business. Paying a ransom does not mean you will get your data back, or in cases where equipment or apps or systems are affected that they will start running right away.
Emerging Technologies and Cybersecurity
There are numerous emerging technologies arising in the Construction industry, including virtual and augmented reality, drones, 3D laser scanners, 3D printing, and BIM (building information model) – and ALL of them involve data. The growing number of connected devices and technological advances brings a need for greater cybersecurity.
The construction sector needs to comply with the protection of the data it stores. The increased complexity and connectivity of modern-day critical infrastructures not only pose a threat to the nation's security but also the nation's economy, public safety, and public health. For any organization, including third parties, that have anything to do with handling or managing critical data infrastructure, NIST procedures will need to be followed.
IT Downtime – What can You do?
This is where we can assist – our DRaaS (Disaster Recovery as a Service) offers resiliency options for your diverse application portfolio, to help minimize the damage from an IT outage. Our options cover workloads running on physical servers, third-party clouds, and hybrid; and from business-critical to lower priority workloads. We offer scalable, flexible, cost-effective solutions with dedicated resources guaranteed.
IT Downtime – The Bright Side
You need continuous availability of your data. Taking steps now to prepare for an unexpected occurrence, or outage, can make a huge difference to your bottom line. By taking time to implement a DRaaS plan, you can save your organization from losing thousands or even millions of dollars, not to mention the impact to indirect costs, the flow of your business, or your reputation.
Don’t think of recovery in terms of Disaster Recovery only, because it doesn’t have to be a total disaster to seriously impact your business or your profit.
Position Your Data Against Unexpected Outages
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Our plans align your business-critical recovery using multiple tiers of recovery point objectives that you determine.
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What distinguishes QCM from other companies?
Experience & Expertise
QCM has been in business 22+ years with over 350 years' of extensive technical expertise across our team. We have strong and established relationships with the best in technology partners, which we use to achieve the best fluency and results for our valued customers.
Value in Relationships
The QCM philosophy is that we feel IT projects should pay for themselves, so we work closely with and establish deep partnerships with each of our customers to understand their business needs. We then harness our solid vendor relationships to deliver projects with high potential to yield quick ROI and long-term competitive advantages, so our customers can achieve their goals and grow beyond.
When our Customers Succeed, We Succeed
QCM has retained many customers since the inception of our business in 2001 - now that's saying something. The value, ROI, technical expertise, and compelling advantages we provide are just some of the ways we save our customers money, and are the core of how we operate as a business - because when our customers succeed, we succeed.
QCM Technologies, Inc.
www.qcmtech.com
Scottsdale, Arizona • MBE Est. 2001
