One of the most likely interruptions facing every business today is a power outage.
Every year, thousands of businesses face at least one significant power outage, with a large majority suffering two or more outages each year. Is your company prepared to handle these unexpected business interruptions?
In 2016, the U.S. Department of Energy reported:
- 3,650 major grid outages occur in the US
- 21 Million workers impacted by power outages exceeding an hour or more
- $150 Billion in economic losses created by unplanned outages
When you have a business interruption such as power failure, your communications go down as well, affecting phone systems and Internet access. This results in:
- Loss of connectivity to your cloud applications and data
- Loss of capability to process electronic transactions
- Loss of your capability to serve customers immediate needs
Over the past three years, Agility Recovery has responded to over 1,400 business interruption events, with over 60% involving loss of power. In fact, E Source Market Research recently reported, “As customers’ dependence on energy increases for critical activities such as data processing and storage, refrigeration, life/safety, health care, and space cooling, they will become more acutely aware of power outages.” The same report also revealed that power outages cost businesses over $27 billion annually in the US alone.
Do you have a plan in place to mitigate loss during power outages? Business Continuity Plans are put into place by companies, large and small. To assist in your planning and recovery from power outages, view this short presentation on the most practical steps you can take today to prepare: Planning for a Power Outage.