IT Downtime Costs Businesses $1.55 Million Per Year, Report Says (INFOGRAPHIC)

Whether small or big, technology downtime is a concern for all types of businesses.

Cost of a Tech Fail

According to a new report by Ireland-based IT solutions company, ERS IT Solutions, on average IT downtime costs businesses $1.55 million every year.

Technology Downtime Causes Loss of Work Hours

Businesses do not only lose money due to IT downtimes. Data shows technology downtimes impact productivity as well. On average, businesses lose 14.1 hours to annual IT downtimes.

What’s more, a staggering 545 hours of staff productivity are lost annually because of IT outages.

Addressing IT Downtimes is a Hassle for Businesses

To ensure business continuity even during IT downtimes, companies spend resources. According to data, on average companies spend 200 minutes to resolve an incidence of IT downtime.

On average, each week employees spend 30 minutes to fix their PC problems.

Minimize the Impact of IT Downtimes

Technology downtime is not uncommon for businesses these days. But companies feel its impact more severely when it coincides with a busy time of the year. During the holidays, for example, small firms lose a substantial amount of business due to technology snarls.

To ensure the holiday season doesn’t affect the bottom line, businesses need to have a plan in place. The first step is to analyze historical data to anticipate downtime and take measures to reduce its impact.

Regular tests of important network systems are also a great way to stay on top of things. A skilled tech team can ensure systems are always updated and secure to avoid costly downtimes.

Want to know more about how downtimes can impact your business? Check out the infographic below:

Images: ERS IT Solutions

This article, "IT Downtime Costs Businesses $1.55 Million Per Year, Report Says (INFOGRAPHIC)" was first published on Small Business Trends