Trends Report

What Your Business Can Learn About Disaster Recovery From Financial Institutions

July 8th, 2008
Stephanie Balaouras, VP, Group Director
Stephanie Balaouras VP, Group Director
With contributors:
Simon Yates , Rachel Batiancila , Rachel A. Dines

Summary

Disaster recovery preparedness is an increasingly critical IT function. In our Forrester/Disaster Recovery Journal October 2007 Global Recovery Preparedness Survey, 87% of the disaster recovery decision-makers we surveyed said that it was "critical" or "very critical" to improve their company's disaster recovery preparedness and capabilities. Even though all organizations must undertake disaster recovery planning, financial institutions often lead other industries in their efforts because they can measure their cost of downtime in millions of dollars per hour. According to our survey, financial institutions are generally more prepared than other industries: They're more likely to have documented plans in place, they test more often, and they have a greater degree of confidence in their DR preparedness.

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