It's not going to happen to me. Most business owners are optimistic by nature, or else why would they ever accept the risks of running a business? However, sometimes bad things do happen, and as the common saying goes... failing to plan is planning to fail.
This month, we discuss some common Business Continuity scenarios to explore as part of your business's planning process. In addition, we discuss the imporance of cyber liability insurance, highlight an upcoming presentation by Solutions Architect Michael Lareau, and we meet Financial Administrator Shaun Mullaly. Enjoy!
Dave DelVecchio, President
Whether you run a business of five or five hundred, you should have a plan in place should your business ever face an event that impacts normal business operations. However, small businesses are often intimidated by the task, and most do not have a formal Business Continuity Plan / Disaster Recovery Plan (BCP/DR) in place.
Quite often, people begin with the worst-case scenario, envisioning their business being destroyed by a tornado or a hurricane. However, according to Rob Rae, VP of Business Development at Datto, their research has found only 3% of data recoveries are due to acts of God. In fact, there are three common localized business continuity scenarios that are much more common which should be explored:
- How will you maintain critical business functions if you have a local disaster and your building doesn't exist do to an issue like a fire?
- What if your building exists, but you can't gain access to it due to localized flooding or an external occurrence like a chemical spill?
- What if the building exists, but data isn't accessible because of either hardware failure or theft?
While acts of God must still be accounted for, local issues like those above are much more likely, and in our history, we've had clients affected by all of the examples given. To aid in the planning process, please download our free one-page DR plan
Do you need cyber liability insurance?
In short - YES! Some people mistakenly assume that Innovative's liability insurance may cover the loss of data at our client's locations. However, if data is lost from a device within your network, our insurances do not cover your losses. Even with Innovative engaged for the monitoring and management of your network, limitations apply. Similar to having ADT monitor the security of your house, if you happen to have a break-in, their insurance doesn't compensate you for your stolen TV, your own homeowner's insurance does. Therefore, we strongly encourage all of our clients talk to your insurance broker regarding having appropriate cyber liability coverage in place.
Mike Lareau to present at WMBE
Join Mike Lareau on Thursday, November 3rd, as he leads a session at 10:45am at the Western MA Business Expo at the Mass Mutual Center in Springfield. Titled "Keep Your Head Above The Clouds", Mike will share advice and key things to know before selecting your next cloud provider. Don't be left out - please register
to take part in this session.
Meet Shaun Mullaly
With Innovative for nearly 10 years, Shaun
is our Financial Administrator, coordinating our Accounts Receivables, materials procurement, and overseeing inventory control. Shaun came to Innovative after having worked as Office Manager, Bookkeeper, and HR Coordinator at a local motorcycle dealership for over ten years.
Outside of work, Shaun is an avid Bruins and Patriots fan, and enjoys vacationing to Disney World and cruising. He also enjoys DIY projects around the house, with landscaping being the major time consumer the last few summers. Of course, that's when not spending time with his wife and kids, who keep him entertained and active!