What is Disaster recovery and Business Continuity?
Disaster recovery and Business Continuity is an ongoing service or solution, to help guide an organization in the event of a disaster and to effectively reestablish critical business operations within the shortest possible period of time, with a minimal or no loss of data. The goals of the planning are to assess current and anticipated vulnerabilities, define the requirements of the business, design and implement risk mitigation procedures, and provide the organization with a plan that will enable it to react quickly and efficiently at the time of a disaster or outage.
Disaster and outages can have a profound effect on both revenue and reputation for companies. US Bureau of Labor reports that 93% of companies that suffer a significant data loss are out of business within 5 years. It is still fresh in the memory what hurricane Sandy caused to New York City. Nearly 1/10th of business shut down after an extended internet outage caused by the hurricane.Challenges and questions
As many businesses would want to be prepared for a situation, there are several unanswered questions that begin with...
- Is this a manual process or an automated failover?
- What about fail back when the main site is back online?
- What are the exact steps that need to be followed before, during and after an outage?
- What is the cost and customization involved to maintain a DR strategy for companies?
- Isn’t this an expensive solution as it involves maintaining a remote DR site?
Unfortunately there is no “One solution fits all” or solution. Every company has different business needs and technology requirements. Also certain domains like Finance and Health care have stringent regulations for a DR strategy versus other domains. This is where Disaster recovery and Business continuity has become such a buzz word and complex to a point where small or midsized companies have been putting this off till now.
FINRA regulations for Business Continuity and Disaster Recovery Planning
The Financial Industry Regulatory Authority (FINRA) on August 16th, 2013, joined the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)'s Division of Swap Dealer and Intermediary Oversight in issuing a staff advisory on business continuity and disaster recovery planning.
The advisory follows a joint review by regulators in the aftermath of Hurricane Sandy, which caused widespread damage to Northeastern states and closed U.S. equity and options markets for two days in October 2012. The SEC's Office of Compliance Inspections and Examinations (OCIE), the CFTC's Division of Swap Dealer and Intermediary Oversight, and FINRA issued the advisory to encourage firms to review their business continuity plans so as to improve responses to and reduce recovery time after significant large-scale events.
DR Strategy Considerations
- Recovery Point Objective (RPO)
- Recovery Time objective (RTO)
- Network access Objective (NAO)
- Threshold for downtime
- Internet bandwidth consideration
- Plan and Procedure during ct over
- Review and testing
- ROI and COST saving
- “Pay as you use” cloud service (perfect for small to mid-sized sized companies)
- Fully Customized to fit your exact business needs
- Cost Effective, yet extremely granular management
- Full hosted at Veusoft cloud, so no hardware or DR site management
- Scalability and Elasticity
- Veusoft Stand by Recovery In the event of an outage, remote backup data is recovered to standby servers and end users are re-directed within a matter of hours for service. This non-disruptive technology makes disaster recovery plans affordable for small to mid-size businesses.
- Veusoft High Availability Recovery For information and applications that can't tolerate hours or minutes of downtime. Veusoft delivers hosted replication services to keep your business running at all times.
Veusoft Datacenter Information
Veusoft partners with Telex for datacenter and Co-location needs. Veusoft datacenter at NJR3 facility, is a stand-alone Tier III Data Center in Clifton, NJ. This new facility is SSAE16 compliant and in Zone X, which is outside the 500-year FEMA flood plan. Some of the key features of our new flagship NJR3 Data Center at 2 Peekay Drive in Clifton are:
- 215,000 sf facility
- Tier III Certified Design by the Uptime Institute
- Outside both 100 and 500 Year FEMA Flood Zone
- SSAE16 compliant
- Power Availability: True 2N UPS Design
- Generator: N+1 Design
- Efficiency: Equipped to Use Ambient Cooling
- Design: N+1 Cooling Configuration
- Veusoft hosting provides 100% uptime SLA and 24-hour cross-connect guarantees.