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Network outages costing businesses millions each year

(Image credit: Image Credit: Ra2Studio / Shutterstock)

Most organisations suffered at least four 30-minute network outages last year, costing anywhere between $305,000 and $6 million, according to the results of a new survey published by Opengear.

Based on a poll of 500 senior IT decision-makers worldwide, the report states that improving network resilience is the top priority for half of IT teams, with another third claiming it was one of their three main priorities, highlighting just how important a strong network is to a business.

The report also argues that the measures businesses are taking to ensure network resilience are insufficient. Despite almost eight in ten having a dedicated budget, half reported an increase in outages of at least 10 percent in the past five years.

Further, with many organisations operating networks that spread across multiple geographies, it often becomes challenging to place IT technicians on site in time to rectify issues.

Steve Cummins, Marketing VP at Opengear, believes decision-makers would do well to remember that the cost of a network outage extends beyond lost revenue.

“Our survey found that reduced customer satisfaction was the biggest impact of an outage, ahead of data loss and financial loss,” he said. “Organisations need to think in advance about how they can avoid, and then recover from, an outage quickly before the consequences become severe.”