Top August Cybersecurity Threats

• Increased Phishing Attacks: Back-to-school season and the return from vacations create ideal opportunities for phishing scams. Criminals may impersonate legitimate organizations like schools, banks, or travel companies to trick victims into revealing personal information or clicking on malicious links.
• Exploitation of Unpatched Vulnerabilities: With IT staff potentially on vacation or focused on other tasks, criminals might exploit known vulnerabilities in software that haven’t been patched. Regularly updating software and maintaining strong security hygiene are crucial defenses.
• Ransomware on the Rise: Ransomware attacks continue to plague businesses of all sizes. August might see a surge in these attacks, targeting companies with potentially reduced security alertness.
• Supply Chain Attacks: Third-party vendors and partners can be weak links in an organization’s security posture. Cybercriminals might target them to gain access to a company’s systems and data.
• Social Engineering Scams: Social engineering tactics rely on manipulation to trick individuals into compromising security measures. Be wary of unexpected calls, emails, or even text messages urging immediate action.

Proactive Measures for Enhanced Security

• Security Awareness Training: Educate employees on common cyber threats and best practices for identifying and avoiding them.
• Patch Management: Prioritize timely patching of vulnerabilities in software and operating systems.
• Multi-Factor Authentication (MFA): Implement MFA for all user accounts to add an extra layer of security beyond passwords.
• Regular Backups: Maintain regular backups of critical data to ensure recovery options in case of a cyberattack.
• Incident Response Plan: Develop and regularly test an incident response plan to ensure a swift and coordinated response to security breaches.

Conclusion

Cybersecurity threats are constantly evolving, but by staying informed and implementing proactive measures, businesses can significantly reduce their attack surface. By prioritizing employee training, patch management, MFA, and maintaining a robust incident response plan, you can navigate the ever-changing threat landscape with greater confidence.

Don’t let your cybersecurity defenses take a vacation. Contact us today at (212) 886-0790 to discuss your cybersecurity needs and how we can help you stay protected.

The post Navigating the Evolving Threat Landscape: Cybersecurity Threats to Watch Out For appeared first on SeaGlass Technology.

What to Do Immediately:

• Contain the Breach: Isolate compromised systems to prevent further data loss.
• Notify Authorities: Report the incident to relevant law enforcement agencies.
• Secure Customer Data: Implement measures to safeguard remaining data.
• Communicate Transparently: Inform customers about the breach and the steps you’re taking.

Investigate the Breach

• Understand the Scope: Identify the type of data compromised and the number of affected individuals.
• Determine the Cause: Analyze the attack method to prevent future vulnerabilities.

Remediation and Recovery

• Strengthen Security Measures: Upgrade security software, patch vulnerabilities, and improve access control.
• Credit Monitoring Services: Consider offering affected customers identity theft protection.
• Review Incident Response Plan: Identify areas for improvement in future response strategies.

Conclusion

A financial services hack can be devastating, but a well-defined recovery plan can minimize damage and rebuild trust. By following these steps and continually improving cybersecurity practices, your business can protect itself and its customers in the digital landscape.

Learn more about improving your cybersecurity posture and how our services can help your business recover from a cyberattack. Contact us today!

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The inevitability of a data disaster is not a question of “if” but “when.” So, as a hedge fund manager, being prepared is essential.

The Importance of a Disaster Recovery Plan for a Hedge Fund Manager

Disaster recovery is a tactical response to an unexpected event threatening your data, applications, or business operations. As a hedge fund manager, having a robust disaster recovery plan is not just good practice but a necessity.

It’s about safeguarding a segment of your business and protecting the entire operation, from your fund’s reputation to its financial health. Your investors entrust you with their assets and expect you to be prepared for any eventuality. A well-thought-out data disaster recovery plan is critical to fulfilling these obligations.

The Essential Elements of a Hedge Fund’s Data Disaster Recovery Plan

Creating a robust disaster recovery plan requires a hedge fund manager to consider several critical components:

Backup System: A Critical Component

A secure and efficient backup system forms the cornerstone of your disaster recovery plan. Having multiple copies of all your data stored in secure, geographically diverse locations is advisable. Regular updates and tests of these backups should be a non-negotiable part of your disaster recovery plan.

Planning: The Blueprint for Recovery

As a hedge fund manager, you must thoroughly understand how your backup system functions, who is responsible for it, and who takes the reins during a data disaster. It is essential to ensure that everyone in your organization knows the disaster response plan and their respective roles within it.

Recovery Point Objective (RPO): Setting the Benchmark for Data Backup

RPO is a critical metric defining the maximum amount of data you can lose during a disaster. It guides the frequency of your data backups and shapes your data protection strategies.

Recovery Time Objective (RTO): The Recovery Countdown

RTO is the maximum time you can allow your systems, data, and applications to be down following a disruption. Knowledge of your RPO and RTO can significantly reduce downtime and hasten your return to business after a disaster.

Testing the Disaster Recovery Plan

A common pitfall for many businesses is creating a disaster recovery plan and then neglecting it, which is a mistake you should avoid. Regular testing of your disaster recovery plans is essential to ensure their effectiveness during actual disruptions.

Though testing can temporarily disrupt business operations, it is a necessary sacrifice. The process helps identify weaknesses and areas of improvement in your disaster recovery plan, allowing you to address these issues proactively.

The Human Element in a Hedge Fund’s Data Disaster Strategy

People are the backbone of any organization, and your disaster recovery plan must account for this human element. Suppose a disaster renders your primary workspace unusable. In that case, you must ensure your team can access necessary data remotely without compromising security.

Managing the Aftermath of a Data Disaster

Even with a well-executed disaster recovery plan, the aftermath of a data disaster can be challenging for any hedge fund manager. Here are some critical steps to implement following a data disaster:

Immediate Response: Activating the Disaster Recovery Plan

After a data disaster, the first step is to execute your disaster recovery plan, which involves activating your backup systems, assigning responsibilities according to the plan, and starting the data restoration process. Your RTO and RPO guide this phase, helping you minimize data loss and downtime.

Communication: Keeping Stakeholders Informed

Transparency is crucial in managing the aftermath of a data disaster. As a hedge fund manager, you must inform all stakeholders about the situation, including your employees, investors, and regulatory bodies. Regular updates about the recovery process and the expected timeline for full restoration can help manage expectations and maintain trust.

Analysis: Understanding the Cause of the Disaster

Once the immediate crisis is under control, it’s essential to analyze the event to understand what caused the disaster, which could involve working with your IT team or external cybersecurity experts. Understanding the cause is crucial in preventing similar incidents in the future.

Review and Update: Learning from the Incident

Every data disaster provides valuable lessons. Post-incident, it’s essential to review your disaster recovery plan and the actual response to the disaster. Did everything go as planned? Were there unforeseen challenges? Use these insights to update and improve your disaster recovery plan.

Training: Equipping Your Team for Future Incidents

The effectiveness of a disaster recovery plan largely depends on the people executing it. After reviewing and updating your plan, ensure your team is aware of the changes and capable of implementing the necessary measures. Regular training sessions can help your team respond more effectively to future incidents.

Regular Auditing: Ensuring Continued Preparedness

Finally, regular audits of your disaster recovery plan are crucial to ensure it remains effective and up-to-date. Technology and threats evolve, and your disaster recovery plan must evolve with them. Regular testing and auditing can help identify gaps or weaknesses, allowing for proactive improvements.

Safeguard Your Hedge Fund’s Critical Assets with SeaGlass Technology

As a hedge fund manager, your role extends beyond making investment decisions. It also encompasses safeguarding one of your hedge fund’s most vital assets, namely your data. Hedge funds are becoming increasingly digital, and cyber threats are evolving rapidly. So, a proactive approach to data disaster management is no longer an option but a necessity.

Developing a robust disaster recovery plan, testing it, and ensuring your employees are trained to implement it effectively is essential, but it takes work. SeaGlass Technology’s cybersecurity experts are here to help.

We can assist in identifying potential vulnerabilities, bolstering your defenses, and preparing your team to respond swiftly and effectively in the event of a data disaster. Contact us today at (212) 886-0790 or online, and let us help you prepare your hedge fund to withstand any data disaster.

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The main purpose of a business continuity plan is to ensure that all critical business functions continue working during a disaster or disruption while minimizing downtime. In comparison, a disaster recovery plan aims to restore key business processes as quickly as possible.

Learn more about business continuity and disaster recovery and the differences and similarities between these plans.

What Is A Business Continuity Plan?

Business continuity refers to the advanced preparation and planning performed to ensure that a company can operate its crucial business functions during disasters and other emergency events.

From natural disasters to data breaches, an unexpected interruption to a business can cause catastrophic damage to an organization’s reputation and finances. A business continuity plan can help limit the adverse impact on services and functions.

A business continuity plan should include various information and instructions to help guide a company amid chaos. It should inform employees how to communicate with vendors, customers, and third parties during an emergency to provide proper support.

It should also include information on how to continue servicing customers and relocate people and processes if needed. Business continuity plans generally include a timeline required to restore business processes and workaround processes when certain technology is unavailable.

Business continuity plans often name key personnel that will aid in the organization’s recovery. This is usually a team of business leaders from different departments responsible for managing emergency events and overlooking employees as they attempt to continue business functions and processes.

What Is A Disaster Recovery Plan?

A disaster recovery plan is a process or policy designed to assist businesses in executing recovery processes in response to a disaster.

The processes within a disaster recovery plan may be started before, during, and after a disaster to help minimize downtime and ensure a quick and efficient recovery.

Organizations are tasked with storing and managing large amounts of data. Data loss or corruption can have a substantial impact on a business’s ability to continue normal operations. A business is better equipped to restore critical business data from backup images and minimize losses with a comprehensive disaster recovery plan in place.

While disaster recovery plans can vary, the overall structure remains relatively the same. First, the plan should contain goals that dictate what the business wants to achieve during and after a disaster, such as the recovery point objective (RPO) and recovery time objective (RTO). It should also list the personnel who are responsible for executing the plan.

Including an updated list of IT equipment and technology, including hardware and software assets, can help ensure that a business’s IT systems are back up and running as quickly as possible. Include whether each asset is critical to business operations and leased, owned or used as a service. Also include detailed instructions on how to access backup resources.

Finally, a disaster recovery plan should include best practices for recovery following a disaster. Include detailed steps for recovering from a loss of data, systems and other resources. Also list IT staff that is responsible for recovering IT systems after a disaster, as well as their contact information.

What Are The Differences Between Them?

Although business continuity and disaster recovery may seem like very similar concepts, there are some distinct differences. The most significant difference between the two terms refers to when the action takes effect.

Business continuity plans are designed to keep a business operational in the event of a disruption. A company is better equipped to return to full business operations both during and after an interruption with the plan in place.

A disaster recovery plan is considered a component of a business continuity plan. Disaster recovery places a greater emphasis on returning to normal business operations after the end of a crisis.

Regardless of size or industry, most businesses can greatly benefit from having both a business continuity and disaster recovery plan.

A lack of either type of plan can cause businesses to struggle to try and resolve IT and other problems during a disaster which can be catastrophic to their long-term operations.

Start Planning For Disaster With SeaGlass Technology

Keeping a business operational during and after a disaster can be challenging even under the best conditions. However, developing a comprehensive business continuity plan and disaster recovery plan can help ensure a successful outcome. For more information about the differences between business continuity and disaster recovery, contact the IT professionals at SeaGlass Technology today.

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A business continuity plan (BCP) is a proactive business process that enables businesses to understand their potential weaknesses and threats in times of crisis. With a solid BCP in place, an organization can continue serving customers, minimize downtime and prevent a catastrophic loss of business revenue.

What Does a Business Continuity Plan Entail?

When a business is interrupted, it can cost a company money until operations can resume. Insurance does not usually cover these expenses, and it is not always possible to recover customers that have turned to the competition. While a business continuity plan cannot necessarily stop a disaster from occurring, it can aid in an organization’s recovery.

A BCP consists of a series of procedures to restore critical business functions in an unplanned event. The development of the plan generally begins with a business impact analysis. Conducting a business impact analysis helps identify crucial or time-sensitive business processes and functions and the resources needed to support them.

Organizations are also tasked with organizing a business continuity team. This team is usually made up of business leaders within an organization responsible for managing the disruption and implementing the business continuity plan. The business continuity plan should undergo regular training to test the plan and evaluate the effectiveness of its strategies.

Following an unexpected incident that disrupts normal business operations, resources will need to be leveraged to restore operations and minimize downtime. Resources often come from within the business but may also be provided by third parties.

Common examples of resources include employees, technology, office space, production facilities, inventory, vital records, and utilities like power, water, natural gas and internet.

Essential Aspects of a Business Continuity Plan

Business continuity plans generally contain several important aspects designed to accommodate both short-term and long-term outages.

First, a BCP may include a checklist of equipment, supplies and backup site locations. It should also identify plan administrators and provide contact information for key personnel, emergency responders and backup site providers.

A disaster recovery plan is a crucial component of any business continuity plan. This plan should contain strategies for resolving IT disruptions to servers, networks, mobile devices and personal computers. It should also detail how to quickly and efficiently re-establish productivity in the office and implement manual workarounds if needed.

There are three main aspects of a business continuity plan for critical business processes and applications:

Disaster Recovery

A disaster recovery plan outlines how to recover a data center at an alternative site if a disaster should destroy a primary workspace, rendering it inoperable.

Continuous Operations

A BCP should include a plan for keeping operations running during business disruptions and planned outages, such as planned maintenance.

High Availability

Business continuity plans should maintain high visibility, meaning all processes and applications should remain accessible even during a local failure.

Importance of Creating a Business Continuity Plan

Businesses of all sizes rely on business continuity plans to maintain productivity in times of crisis. Even the best employees may struggle when faced with an unexpected disaster.

Having a well-documented business continuity plan in place, along with regular employee training, can help ensure that the company experiences a safe, organized and timely recovery.

A comprehensive BCP encourages business leaders to review the threats and weaknesses plaguing their organization and strategizing solutions for overcoming these challenges. The process of crafting a business continuity plan also involves accessing employees, leadership, resources and company strategies in a way that highlights areas of opportunity.

Unexpected events are not just limited to natural disasters. Businesses may face a wide range of problems, such as hardware and software hacking, data theft and other malicious actions that put the business at risk. A business continuity plan not only helps protect the organization itself but also its customers.

Customers are a business’s most valuable asset, and their data must be safeguarded to prevent it from falling into the wrong hands.

Business continuity plans can also aid companies in other ways, such as enhancing their communication and collaboration methods. Communication is critical to a business’s ability to bounce back after a disaster. An effective BCP ensures that employees and managers alike can communicate effectively and work together to return to normal business operations.

Speak with a Managed IT Service Provider

Whether it is a natural disaster or data breach, businesses face catastrophic events every day that put their organization at risk. It is how these businesses respond to adverse circumstances that dictate the outcome.

To learn more about business continuity plans or to speak with an experienced managed IT service provider about acquiring managed IT services, reach out to the experts at SeaGlass Technology today.

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Fast Response Times

When an emergency or disaster occurs, time is of the essence. Disaster recovery services aim to help businesses quickly recover from a disaster and restart operations with minimal downtime.

Disaster Recovery as a Service (DRaaS) is an effective cloud computing service model that enables businesses to easily back up their data and IT infrastructure on a third-party cloud computing environment. In a disaster, a business can quickly regain access and functionality to its data and IT infrastructure.

Cost-Efficiency

A disaster recovery plan has several key components. It should outline preventative measures for reducing risks, detect measures for identifying unwanted events, and contain strategies for restoring lost data and resuming business processes.

Accomplishing these goals requires a business to analyze potential threats, maintain IT systems and identify solutions for achieving business continuity. Disaster recovery services can help minimize these expenses for businesses by saving them time and resources.

Greater Flexibility

The use of disaster recovery services gives businesses greater flexibility during the disaster recovery process. Many businesses choose to store important data in an off-site location as a safeguard if a disaster impacts their business. However, if the disaster is widespread, it could also impact other facilities.

Disaster recovery services that involve cloud solutions ensure that the emergency does not impact business data. Companies also have the flexibility of choosing what applications and data are most critical and need to be backed up and stored on the cloud.

Increased Productivity

When developing a disaster recovery plan, a team of leaders is selected to help in the recovery process. Each team member is given specific roles and responsibilities in advance to minimize downtime during and after a disaster.

Disaster recovery services help ensure that all bases are covered in the event of an emergency, including having several qualified individuals within the organization prepared to complete the tasks at hand in case one person is sick or on vacation.

Resource Conservation

With traditional data recovery, businesses are often forced to replicate their onsite data center. This involves building, securing, and maintaining facilities with servers, cooling controls, and other equipment.

This can be a costly endeavor for organizations. Disaster recovery services save businesses the upfront costs associated with building and staffing a second data center. Organizations are also not responsible for managing and conducting maintenance on managed IT service providers’ data centers.

Higher Customer Retention

Modern consumers expect businesses to be reliable and trustworthy. When businesses experience extended downtime or system failures, it can reflect poorly on a brand. Many customers will move onto a different service provider when a business cannot meet their expectations.

Disaster recovery planning helps businesses maintain a high level of customer service regardless of unexpected disasters. With help from a managed service provider, organizations can help minimize downtime and prevent the loss of important data.

Regulatory Compliance

Businesses in different fields face varying regulatory requirements. Failure to meet these regulations can result in hefty fees and other penalties. A solid managed IT recovery plan can help businesses remain in compliance.

This is especially important for organizations in certain fields, such as medical, food production, and financial services. The right solution can help keep businesses safe and protect their customers, patients, and the general public.

Preservation Of Brand Reputation

How a business handles an unexpected disaster or catastrophic event can say a lot about its professionalism and trustworthiness. When an organization fails to create a disaster recovery plan on behalf of the business and its stakeholders, it can lead to a drop in the business’s reputation.

Disaster recovery services can help an organization continue to deliver seamless service and meet ongoing customer demands.

Speak With A Managed IT Services Provider

Many modern businesses are heavily reliant on technology for daily business operations. Unfortunately, many of these organizations overlook the importance of having a comprehensive disaster recovery plan in place.

When deciding if a disaster recovery plan is needed, consider how long the business would be able to continue running following a major disaster.

For more information about the benefits of disaster recovery services or to speak with a managed IT services provider, schedule a consultation with the IT experts at SeaGlass Technology today.

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When disruptive events occur, businesses can suffer a significant financial loss. The average cost of IT downtime is $5,600 per minute, according to Gartner, Inc.

A disaster recovery plan (DRP) encourages business continuity and minimizes financial and reputational losses. Learn more about the disaster recovery process and the importance of responding appropriately to data losses, breaches, and system failures.

Types of Disaster Recovery Plans

Businesses may rely on various disaster recovery plans. These plans will vary depending upon the severity of the event, the length of downtime, and the amount of data loss during the incident. Some of the most common types of disaster recovery plans include:

Backup – This simple type of disaster recovery involves storing data off-site or on a removable drive. Although backup recovery can help provide some level of business continuity, the IT infrastructure itself is not backed up.

Cold Site – In a cold site disaster recovery plan, an organization sets up basic infrastructure in a second facility to provide employees with a place to work after a fire or other natural disaster. With a cold site, business operations can continue, but organizations do not have a way to protect or recover data.

Hot Site – In a hot site disaster recovery plan, an organization retains up-to-date copies of all data. Hot sites can be time-consuming to set up, but they can significantly reduce downtime.
Point-in-Time Copies – Also known as point-in-time snapshots, this plan involves making a copy of the entire database at scheduled intervals. The data can be restored from a backup if stored on a virtual machine or off-site.

Disaster Recovery as a Service (DRaaS) – When a disaster or data breach occurs, a DRaaS provider can move a business’s computer processing to a cloud infrastructure, allowing the organization to continue operations.

Virtualization – With a virtualization plan, an organization can back up certain data or operations on off-site virtual machines that stay unaffected by physical disasters.

Developing a Disaster Recovery Plan

One of the best ways that an organization can prepare and protect itself from a disaster is to develop a strong disaster recovery plan. A disaster recovery plan should address any type of disaster and include the following:

1. Identify a Disaster Recovery Team

The disaster recovery team is responsible for developing and implementing the DRP. The disaster recovery plan should identify each member of the team and provide sufficient contact information.

Describe each team member’s role and who should be contacted at each stage of the emergency and recovery process. All employees should be informed of their responsibilities and understand all aspects of the plan.

2. Assess Disaster Risks

The next component of the disaster recovery process involves identifying and assessing disaster risks. These risks should include all types of incidents, such as man-made emergencies, natural disasters, and technology-related incidents. With this information, the team can more effectively develop strategies for recovering from disasters in an acceptable time frame.

3. Evaluate Critical Resources

Organizations must also evaluate their existing business processes to determine what resources, documents, and applications are most critical to business operations. A disaster recovery plan should primarily focus on short-term needs, such as creating cash flow. It should also place focus on processes that cannot be delayed, such as employee payroll.

4. Create Backup Procedures

Having a backup plan is critical for every business, regardless of size or industry. A disaster recovery plan should specific backup procedures and identify any off-site storage facilities.

During this stage of the process, consider how the backup will be performed, the location of the backup, and how frequently backups should occur. Also define what documents, equipment, and applications should be backed up and stored.

5. Test and Maintain the Plan

One of the final steps of the disaster recovery process involves testing the plan. Undergoing routine testing helps ensure that no important recovery components have been missed and that the plan provides comprehensive recovery strategies based on the business’s unique needs.

Businesses are always changing; therefore, disaster recovery planning is an ongoing process that should be constantly maintained. The recovery team should routinely update the plan to accommodate new technology changes, business processes, and evolving risks.

Schedule a Consultation Today

Organizations that suffer IT disasters or other catastrophic events can face significant data loss, making it challenging to continue normal business operations.

Working with a managed IT services expert can help ensure that the organization recovers quickly after a disaster and is able to stay in business, even after a major data loss or system failure. For more information about the disaster recovery process or to speak with a managed IT service provider, contact SeaGlass Technology today.

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What Is A Disaster Recovery Plan?

A disaster recovery plan is a type of business plan that outlines how work will be resumed as quickly and effectively as possible following a disaster. Business continuity is an essential process when an unexpected event occurs that disrupts operations and stops the flow of revenue. Without a disaster recovery plan in place, businesses risk losing money and potential customers. Extended periods of downtime could even force a business to close its doors permanently.

A disaster recovery plan should include a variety of information, such as what the organization classifies as a disaster, the type of disaster a business may face, the impact that the disaster could have on the organization and how employees and management should approach a catastrophe should one occur.

What Is Important To Include In A Disaster Recovery Plan?

Having a disaster recovery plan in place allows businesses to be prepared when a sudden event occurs that impacts the business, its data, or employees. However, a DRP must be detailed and include clear, specific steps to ensure that there is no confusion about the proper steps to take during and after a disaster. Here are just a few important things to include in a disaster recovery plan:

Inventory Of All Assets & Services Provided

A disaster recovery plan should begin by listing the business’s assets and services. This includes physical assets, such as hardware and software, as well as digital assets that rely on technology.

These assets and services should also be placed in a specific order based on priority. The assets, equipment, and services at the top of the list will have the greatest impact on the organization and therefore should be addressed first, following a disaster. When creating an inventory, consider what equipment and assets the business uses on a daily basis and are required to continue normal business operations.

Determination Of An Off-Site Location

Depending on the type of disaster and its severity, there is a chance that the main site of the business could be destroyed. Floods, fires, and other disasters can completely destroy important data and equipment, resulting in tens of thousands of dollars in damage.

Having a temporary off-site location for disaster recovery purposes is critical to allow business operations to resume while the main site is being repaired or renovated. The off-site location should contain at least the minimum amount of equipment and inventory the business will need to continue operations if the primary business site cannot be accessed for a period of time.

Determination Of Possible Disasters For Your Location

While it is important for businesses to be prepared for any type of disaster that may come their way, it is also important to know what types of disasters are most likely. For example, hurricanes are far less likely to impact businesses located in central states compared to cities along the coastline.

However, other types of disasters can affect businesses in all locations and industries, such as cyber-attacks. Determine which disasters are most likely to impact the business and put them in a list based on which are the most likely to least likely.

Communication Plans & Role Assignments

When a disaster occurs within a business, having proper communication between employees, management, and stakeholders is critical for a fast recovery. A disaster recovery plan should include an extensive list of everyone who should be contacted during a catastrophe. This emergency contact list should include names, phone numbers, and email addresses.

In addition to contacting people directly involved in the business, have the contact information of certain third-party vendors, such as hardware and software vendors and the internet service provider. A disaster recovery plan should also have the specific roles of each person involved in recovery to avoid confusion. Be sure to clarify all emergency job assignments with staff members on a routine basis.

Reach Out To Learn More About Our Managed IT Services

Having a detailed and practical disaster recovery plan in place is more important than most businesses realize. According to FEMA, an estimated 40 to 60 percent of all small businesses never reopen their doors following a disaster. With the rapid growth of technology, the recovery of IT operations is more important than ever.

Fortunately, managed IT services can help businesses through remote monitoring, cloud services, data backup, and disaster recovery. To learn more about the disaster recovery process, call us at 212.886.0790 or schedule a consultation online to get started today.

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Disaster recovery plans should address all types of disasters, be easy to follow and be customized to meet the unique needs of the business.

What Makes A Good Disaster Recovery Plan?

One of the biggest mistakes a business can make is to overlook the importance of disaster recovery and business continuity. Just because an organization has yet to face a business interruption does not mean that they will not experience one in the future. In fact, 17% of businesses experienced some type of business interruption in the past due to floods and 12% because of hurricanes.

A good disaster recovery plan should include a practical strategy that ensures that all vital business data is backed up. It should also identify critical software applications and the hardware required to run these applications. Disaster recovery plans often include job responsibilities to ensure that there is no confusion during the recovery process.

Disaster Recovery Plan Checklist Items

Most disasters arrive with little to no warning. This leaves businesses with minimal time to react to potential damages. A disaster recovery plan can help organizations approach sudden catastrophes with professionalism and restore their processes faster after a disaster. Each type of disaster comes with its own set of consequences for the people, processes, and systems involved in business operations. Follow this checklist to ensure that all aspects of business recovery are covered.

Conduct A Risk Analysis

A risk analysis is a technique used by businesses to identify and manage potential problems that could negatively impact key business initiatives or projects. By conducting a risk analysis as part of a disaster recovery plan strategy, organizations can better determine which disaster recovery mechanisms will be most effective during an actual disaster.

A risk analysis should list potential threats and hazards, the probability of occurrence and the potential impact of the disaster on the business.

Determine Recovery Time Objectives

Recovery time objective (RTO) refers to the duration of time an application is able to remain down before resulting in significant damage to the business. Most businesses cannot survive long without key IT infrastructure and services.

Therefore, RTOs must be properly aligned with what is possible by the business’s IT department. Ideally, businesses want to achieve a near-zero RTO as any amount of downtime can be very costly for an enterprise.

Detailed Procedures For Response Strategy

Disaster recovery plans must be detailed and concise to prevent mishaps during the business recovery process. A recovery plan should clearly outline the expectations of all team members, including where they should go when a disaster occurs.

Procedures should be prioritized based on importance to allow the most crucial operations to recover first before moving on to less critical processes. A disaster recovery plan should include written guidelines and procedures and should cover everything from infrastructure monitoring and communications to recovery activities and DR solutions.

Determine Emergency Communication Channels

When an emergency occurs, regular channels of communication may not be readily available. It is important for businesses to have emergency protocols in place in terms of communication.

A disaster recovery plan should cover what communication channels will be available for use among employees, management and the disaster recovery team. It should also include specifics like who is responsible for announcing the disaster and communicating with customers, employees and the media.

Appoint An Incident Response Team

Every organization should have a strong incident response team made up of reliable individuals with strong leadership and communication skills. These individuals will be responsible for carrying out the disaster recovery plan and ensuring that all tasks are completed as efficiently as possible.

The recovery plan should list the job roles of each person involved, what actions need to be completed, the contact details of all team members and the timeframe in which the activities should be completed.

Determine Disaster Recovery Sites

If a business location suffers extensive damage during a disaster, all equipment, systems and data could be destroyed or compromised. For this reason, many businesses choose to set up one or more recovery sites that allow business operations to continue even if a primary business location experiences damage.

A disaster recovery site should efficiently support active communications and have the ability to store all vital applications, data and physical assets. There are three main types of sites used for disaster recovery, including hot sites, warm sites and cold sites.

Speak To A Managed IT Services Expert At SeaGlass Technology

Business disasters are more common than most people think. According to DataCore, 54 percent of companies have experienced prolonged downtime in the past five years that lasted a full workday. To minimize downtime and prevent costly losses, consider developing a disaster recovery plan.

For more information about our managed IT services or assistance in disaster recovery planning, call us at 212.886.0790 or schedule a consultation online to get started today.

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How Does Disaster Recovery Work?

The primary purpose of disaster recovery is to establish the best practices for preventing or minimizing data loss and other business disruptions that may occur due to an unexpected event. From localized power outages to complete equipment breakdowns, infrastructure failure can cost businesses as much as $100,000 per hour, according to IBM. The disaster recovery planning process consists of planning, strategizing, implementing appropriate technology, and continually testing to maintain a backup and recovery plan that aligns with business objectives.

What Is A Disaster Recovery Plan?

A disaster recovery plan (DRP) is a formal document created by a business that provides detailed instructions on how an organization should respond to an unplanned incident, such as a cyber-attack or natural disaster. The goal of a DRP is to streamline the process of resuming normal computing capabilities in as short a timeframe as possible. A DRP should also help minimize the impact of a disaster if one should occur by taking precautionary measures, such as using a cold or hot site to back up data archives.

Elements Of Effective Disaster Recovery Plans

When developing a disaster recovery plan for a business, finding ways to protect data, hardware, and assets is just one component. A disaster recovery plan should also entail the necessary steps that a business must take to get the business back up and running quickly and efficiently without causing major disruptions to customers. Some of the most important elements of effective disaster recovery plans include:

Defining DR Team Roles & Responsibilities

A detailed disaster recovery plan should include the roles and responsibilities of each team member. Each member of the DR team plays a critical role in helping to resume business activities after a disaster, and their responsibilities should be clearly outlined to avoid confusion. Ensure that all documents contain updated employee contact information and that each member of the team understands what their role is and when they should begin their assigned duties.

Implementing Risk Evaluations

Every business faces certain risks, especially when disaster strikes. A disaster recovery plan should list potential hazards that could occur and what measures should be taken to resume business if a particular catastrophe happens. For example, a business may choose to implement a data backup plan if an event occurs that wipes out important business data. It is also important to prioritize risks based on which are likely to impact the business the most.

Identifying Business Critical Assets

Disaster recovery plans should also include a list of the business’s most critical assets. This involves gathering documentation that shows which applications, systems, data, and resources are most essential for business continuity. Like business risks, business assets should be prioritized based on which assets are most important for the resumption of the business process compared to which are less essential for recovery.

Consistent Data Backups

Data backups are essential to every business as they allow businesses to quickly and effectively recover critical information if it is lost, stolen or compromised. A disaster recovery plan should include what needs to be backed up, who should perform data backups, and how often data should be backed up. It should also include a recovery time objective (RTO) which signifies the maximum amount of downtime that a business can realistically handle. There are three main types of data backup strategies that can be used, including full backups, incremental backups, and differential backups.

Performing Testing & Optimization

Businesses grow and change over time and their disaster recovery plan should change too. It is important for organizations to continually test and update their strategies and address any new threats or unique business needs. When technology evolves, it may be necessary to better optimize any data and security protection strategies to ensure that they are capable of keeping the systems safe from intrusions.

Speak To A Professional NYC Managed IT Service Provider

Every business is different, which means no two disaster recovery plans are ever the same. There is no way to prevent every catastrophe from occurring; therefore, it is vital to have a contingency plan in place to protect the business from viruses and other disasters. Having access to a reliable and knowledgeable IT team can help businesses plan for and respond to disasters in a fast and efficient way. Reach out to a managed IT service provider at SeaGlass Technology today to learn more.

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