No business is immune from catastrophes. Whether hit by fire, flooding, tornadoes, or other natural disasters, or victimized by cybercriminals or internal saboteurs, the list of bad events that can happen to your clients is virtually endless. No one knows what tragedies may befall their organization at any particular point in time. That’s a reality that every owner or organization leader needs to understand so they can build formidable defensive plans that will help prevent unavoidable disasters from inflicting irreparable harm to their businesses.
As an MSP knows, the key factor that determines whether an organization will recover or close after a major incident is data access. Can the business find and successfully restore the information needed to run its operations in an acceptable amount of time? If you can’t answer that question for your clients with a reasonable amount of certainty, neither your firm nor theirs will be adequately protected should a disaster occur.
Business continuity isn’t guaranteed. You’ve surely seen or heard about the Federal Emergency Management Agency (FEMA) report that found 40% of businesses do not reopen following a disaster, and another 25% fail within one year. That may seem high, but when you consider the normal failure rate for SMBs in the first seven years, those numbers become more realistic ‒ especially when you realize that cybersecurity attacks are not a part of those U.S. government-supplied estimates.
Whether your clients like it not, business risk is escalating, and no one knows what type of disaster or security incident could take them out of commission tomorrow. If those organizations aren’t already looking to you to shore up their defenses and implement a managed continuity solution to handle the worst-case scenarios, it’s time for a serious talk.
Turn an Ongoing Responsibility into Recurring Revenue
One of the standard roles for MSPs is to mitigate risks and reduce the threat level for small businesses (including their own). That’s not a one and done proposition. Cybercriminals continually morph their approaches and tools, adopting the latest technologies to launch more innovative attacks on the business community.
Natural disaster preparation is just as dynamic as building viable cyber defenses. As an MSP, are you building redundancies using multiple offsite locations and cloud services in case the main facility not only goes offline but gets wiped out of existence? Unfortunately, that’s a realistic scenario for too many organizations based in areas frequently under hurricane and tornado watches. If you factor in the chance of flooding, fires, and other unusual events ‒ such as a car driving through a customer’s front door‒ no company should be without a well-constructed and frequently tested DR plan.
Managed continuity is a 24/7/365 job for MSPs. Addressing all the potential threats in a business may be one of the most critical jobs you handle for your clients, and your firm should be receiving a regular “paycheck” for taking on that responsibility. Whether including DR planning and testing as part of your complete deliverable or packaging it separately to sell to new clients, these services can generate significant income for your business in 2020. Those increased recurring revenue streams can fuel your firm’s future plans, including expansion, training, and other long-and short-term business objectives
Compliance is Driving Demand
Managed continuity is not an option for many organizations today. Highly regulated industries such as healthcare and banking must adhere to specific data protection and retention standards, as do many other businesses ‒ and we can expect the list of covered companies to expand exponentially in the coming years.
New regulations like the California Consumer Privacy Act (CCPA) and Europe’s General Data Protection Regulation (GDPR) are shifting the focus from specific industries to individual users. The objective of those and other proposed state laws is to ensure that every consumer’s information is properly protected and handled with care.
Your clients’ ability to reproduce records and verify compliance is at stake. Managed continuity helps ensure they’ll have access to the files, logs, and other information they may need to meet all the various compliance requirements. Regulators rarely give businesses any leeway, and experiencing a data loss as a result of a cybersecurity attack or natural disaster may not be an acceptable excuse. With effective DR plans and properly configured systems in place and a testing program that ensures their viability in the event of a catastrophe, your clients won’t have to apologize.
Increase your MSP’s capabilities and create new recurring revenue opportunities with a managed continuity solution. Contact the Adept partner team today to learn how.