The high cost of phone downtime: Could your business survive a $50,000 loss?
When I talk to companies about the importance of proper business continuity planning, I find that most businesses still rely on premises-based PBX systems or service from the phone company. And while that seems like it would be reliable and resilient, unexpected events like natural disasters and human accidents can take your phone system down for hours, days, even weeks. This results in big opportunities losses. Think about it: when customers can’t get you on the phone, they’ll go to your competitor.
Downtime can cost your business big
A big storm blows through and your power goes out for a couple of days, a gas leak in the building next door means you have to evacuate, even something as simple as an employee accidentally spilling coffee on your server stack — all of these can bring your business to a grinding halt and require costly repairs to get you back up and running.
Just look at these scary stats from the Disaster Recovery Preparedness Council:
While it’s comforting to think that your business might fall in the 37% that experience no issues, you’re more likely to be part of the 63% that loses money. And it’s really scary to think that 1 in 10 businesses lose between $50k and $100k.
Limit the impact of downtime with cloud voice
The key to limiting the downtime cost is to maintain a working communications system. If your phones are up, you can still contact customers, partners and suppliers. Even if your business isn’t fully operational, the goodwill you build through communication during the crisis will go a long way toward saving those relationships.
And the key to maintaining a working phone system is to move your phone system and service to the cloud.
Check out our recent report, “Shield your phones from the Legion of Downtime“, to learn more about the types of disruptions that can take down your phone system and how a cloud voice service can help.
Be sure to download our business continuity planning guide to help you get started in developing a strategy for helping your business survive downtime events. And if you have any questions, contact us at 877.244.9731.