When deciding on whether to invest in managed IT support services, many business leaders make the mistake of thinking it’s cheaper to do everything in house. After all, why pay for something you can do yourself? In the short term, this may be true, but without effective IT support, systems don’t get the attention they need or the proper maintenance required to prevent costly downtime.
This article will explore what downtime is and how it can cost you everything, as well as how managed IT support can prevent these harmful events.
What is IT downtime?
Whenever your business technology network is not operating at full capacity, you experience technology downtime. This dramatically hinders your operational efficiency, which, in turn, affects your overall revenue and profits.
Planned downtime is necessary for upgrades, patches, and other important tasks, but unplanned downtime causes serious damage if not handled quickly and effectively. Unplanned IT downtime is typically caused by a wide range of factors and incidents, such as:
- Hardware failure
- Ransomware and other malware attacks
- Software errors and incompatibilities
- Data loss brought on by corruption, accidental deletion, etc.
- Power outages, natural disasters, and other external events
The true cost of IT downtime
If your business technology is not operating at peak performance, it often means:
- Your customers can’t make use of your services.
- Your partners are left waiting in uncertainty.
- Your development projects grind to a halt.
- Your schedules are thrown off beat.
- Your workforce is confused and unsupported.
- Your compliance with data security regulations is in jeopardy.
And that’s just the negative effects you’ll experience during downtime. Afterward, you will be paying recovery costs and compliance penalties, pushing back deadlines and delivery dates, and dealing with irate customers who may damage your reputation permanently.
Downtime by the numbers
All businesses are different, and the downtime costs to your company will vary based on your circumstances. From lost revenue to tarnished reputation to recovery costs and beyond, your costs will compound and get higher over time.
On average, small businesses lose around $427 per minute of IT downtime, while larger companies can expect to lose up to $9,000 or more for every 60 seconds that their IT is not working properly. For some companies, these losses are recoverable, but many companies are often unable to bounce back from significant downtime events and are forced to close their doors permanently.
Why managed IT support is a necessity for preventing downtime damage
So, how does managed IT support factor in? There are two main ways that professional IT support helps mitigate or prevent the financial costs of downtime:
- Incident response: When you get managed IT support, you gain access to knowledgeable professionals and advanced tools that can help you address the underlying IT issues and recover from the incident.
- Preventive support: The best IT support providers conduct regular maintenance, monitor your systems around the clock, and troubleshoot issues as soon as possible so that they don't escalate into major downtime events.
- System optimization: IT support professionals can also analyze your systems and make recommendations for improvements or upgrades to prevent future downtime.
The price you pay for monthly or hourly managed IT support will be miniscule compared to high costs per minute that your business will have to pay due to frequent prolonged downtime. Professional managed IT support may also mean the difference between survival and shuttering your company for good.
Want to learn more about what world-class IT support can do for your business? Contact USWired for a free consultation and a personalized plan on how to mitigate the dangers of technology downtime.
