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Most decisions in business ultimately come down to choosing the option with the highest expected return on investment (RoI). This is certainly the case for Disaster Recovery as a Service (DRaaS). That being so, here is a guide to calculating DRaaS RoI.
ROI in disaster recovery refers to the return on investment gained from implementing a disaster recovery solution. It measures the benefits against the costs of the solution. A strong ROI indicates the solution effectively protects the business while justifying its costs.
Here are the 10 main factors to consider when calculating DRaaS RoI.
Evaluate the cost of downtime for your business, including lost revenue, productivity, and customer trust. This is often calculated by estimating the financial loss per hour of downtime and multiplying it by the average time it would take to recover without DRaaS.
Assess how quickly DRaaS can restore critical systems and compare it to your business’s acceptable downtime threshold. Faster recovery times reduce the financial and operational impact of disruptions.
Consider the amount of data that can be lost during a disaster. DRaaS solutions with lower RPOs reduce data loss, which is particularly valuable for businesses reliant on real-time or transactional data.
Compare DRaaS costs to the expenses of maintaining an in-house disaster recovery infrastructure. This includes hardware, software, data center maintenance, IT staff, and testing processes. DRaaS often provides significant savings by eliminating the need for these investments.
Factor in the value of maintaining operations during a disaster. This includes avoiding disruptions to customer service, supply chain processes, and business-critical functions that can affect long-term profitability.
Traditional disaster recovery solutions often require expensive and time-consuming testing. DRaaS simplifies and automates testing, ensuring preparedness while reducing costs and resource requirements.
For businesses in regulated industries, DRaaS can help avoid penalties for non-compliance during data breaches or outages. Consider the cost savings associated with meeting compliance standards and avoiding fines.
Evaluate the risk reduction from DRaaS in mitigating ransomware attacks or data breaches. The cost of recovering from such incidents without DRaaS can be substantial.
Factor in the long-term savings from DRaaS’s scalability. As your business grows, DRaaS can adapt without requiring additional infrastructure investments.
Benefits like improved customer trust, brand reputation, and employee confidence all have a value. These need to be considered when calculating DRaaS RoI.
Here are the 10 main factors to consider when calculating the cost-savings benefits of DRaaS.
DRaaS removes the need for businesses to maintain costly secondary data centers for disaster recovery. Traditional approaches require investment in physical infrastructure, including servers, storage, and cooling systems. DRaaS leverages cloud-based solutions, significantly reducing capital expenditures.
DRaaS operates on a subscription-based model, allowing businesses to avoid large upfront expenses for hardware, software, and facilities. Instead, costs are spread over time, improving cash flow and enabling predictable budgeting.
Maintaining an in-house disaster recovery team requires skilled IT professionals, which can be expensive. With DRaaS, the service provider manages recovery processes, freeing internal staff to focus on core business operations and reducing payroll expenses.
Regular testing of traditional disaster recovery plans can be costly and time-intensive. DRaaS simplifies and automates testing, ensuring systems are recovery-ready without the need for extensive internal resources or additional expenses.
DRaaS solutions are highly scalable. This flexibility eliminates overprovisioning costs often associated with traditional recovery methods, where businesses must account for potential growth upfront.
DRaaS provides faster recovery times and lower data loss, reducing the financial impact of downtime. This is particularly critical for businesses where interruptions directly affect revenue, such as e-commerce or financial services.
DRaaS solutions often come with built-in compliance capabilities, such as encryption and audit trails, which help businesses meet regulatory requirements. This avoids costly fines and potential legal fees associated with non-compliance.
DRaaS helps mitigate risks from cyberattacks like ransomware, reducing the potential costs of data recovery, ransom payments, and reputational damage.
By leveraging cloud storage and recovery, DRaaS eliminates the need for purchasing and maintaining backup hardware, as well as associated energy and maintenance costs.
The ability to quickly resume business operations during a disaster prevents long-term financial losses, helping organizations recover more effectively and at a lower cost.
DRaaS can be the most cost-effective way of managing disaster recovery. Here is what you need to know to ensure you are getting the best value from your DRaaS solution.
Discover how Disaster Recovery as a Service (DRaaS) compares to traditional disaster recovery. Uncover DRaaS’s key advantages and learn when it’s the smarter choice for your organization. This guide equips senior leaders to make informed decisions on safeguarding critical systems and ensuring business continuity.
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