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Businesses could be losing millions due to poor data management

(Image credit: IT Pro Portal)

Business are putting in extra legwork to eliminate downtime, and for good reason. Failing to offer uninterrupted access to data and services costs the average company $20 million a year. This is according to a new report by Veeam Software, which says businesses are turning to cloud data management to remedy this growing pain.

However, there is a “global disparity” when it comes to digital adoption, with 41 per cent of Japanese and 48 per cent of Brazilian businesses describing their data management services as ‘mature’. At the same time, roughly 25 per cent of businesses in France and Germany can say the same thing, down to 11 per cent in the UK.

The report hints that money plays a key role here – the larger the investment, the faster digital maturity arrives.

The time for action is now, says Ratmir Timashev, co-founder and Executive Vice President (EVP) of Sales & Marketing at Veeam. Businesses need to ‘wake up and take action’, before it’s too late.

“Businesses must manage their data in a way that always delivers availability and leverage its value to drive performance. This is no longer a luxury, but a business necessity,” he adds.

“There is a significant opportunity and competitive advantage for those who effectively manage their data. Ask yourself, are you confident that your business data will always be available? If you are unsure, it’s time to act, and our study shows that many are not acting fast enough.”

Image Credit: IT Pro Portal

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.