It’s rather frustrating when your company’s IT experiences problems, but this goes far beyond the pure inconvenience of not being able to proceed with your work. It leads to lost productivity, missed sales and negative public image owing to people not being able to access your site or do business with you.
For all that is spent by small and medium enterprises on ensuring that their IT is in top shape, problems are still quite frequent and, when they occur, the company’s balance sheet tilts further towards the red. On top of all the costs mentioned in the previous paragraph, your company may need to pay an IT professional for troubleshooting and duly repairing any technical problems that arise. When you take it to a multinational scale, even an hour of downtime could cost more than $1 million, although that’s probably loose change to a global corporation.
Check out the infographic below from ERS IT Solutions for a series of eye-opening statistics about the extent to which IT downtime can harm businesses.