IT Service Disruptions Are Becoming a Major Financial Risk

A Cisco and Splunk report shows that IT service disruptions can cause significant financial losses and damage a company’s reputation.

Unplanned IT service disruptions are no longer only a technical issue. They can directly affect revenue, customer relationships, employee productivity and a company’s reputation.

A study conducted by Splunk, a Cisco company, together with Oxford Economics, estimates that annual losses caused by downtime among the world’s 2,000 largest companies have reached approximately $600 billion. This is 50% more than two years ago.

The report estimates an average cost of approximately $15,000 for every minute of downtime. Among the organizations included in the study, incidents were also associated with revenue losses, reputational damage and lower investor confidence.

The report concludes that incidents cannot be eliminated completely. However, their duration and impact can be reduced through observability, automation, clearly defined response procedures and infrastructure designed for resilience.

BTS PRO helps organizations identify vulnerabilities in their IT infrastructure and combine networking, cybersecurity, storage, backup and monitoring solutions into an architecture focused on business continuity.

A resilient infrastructure is not defined only by high-performance equipment, but also by the ability to detect and resolve incidents quickly.