IT downtime costs business £2b a year

A new report from CA Technologies discovered that UK organizations lose around £2b every year due to their failure to effectively manage business systems.  The detailed report showed that IT downtime causes organizations to lose about 300,000 hours per year.

On average, the report showed that it the time it takes to fix an IT system when it goes down costs most organizations around £208,000 per year in lost revenues.

The report also showed that when the IT systems are down organizations lose their about 22% of their average revenues.

However, the associated costs and downtime itself could be avoided in most cases if organizations took a better look at developing their disaster recovery strategies.  CA Technologies recommends that businesses focus their efforts on speed of data recovery in an effort to form better data protection plans.

200 UK organizations were included in the survey report with each reporting to suffer from about 27 hours of downtime of their IT systems every year.

Also included in the survey were almost 2,000 organizations from across 11 European countries with France found to experience the largest amount of downtime and thus the largest subsequent revenue loss.  France organizations are estimated to lose about £424,000 in revenues every year as a result of downtime.

On the other hand, Italy was found to have the best IT system protections in place only losing about an average of £29,000 in revenues every year.