Downtime can be very costly indeed. Research suggests that many businesses underestimate the cost of computer or network downtime. One survey of small to medium enterprises found that:
- 25% reported downtime costs of between $20,001 – $40,000 per hour.
- 26% reported downtime losses of $10,000 – $20,000 per hour.
- 27% reported downtime costs of $10,000 per hour or less.
A study of larger businesses found that 40% reported downtime costs of $1 million to $5 million per hour. But downtime is not the only cost associated with computer or network inefficiency. There is a range of inefficiencies in IT systems that can impact business performance. Research suggests that between 20% and 40% of revenue is lost due to process inefficiency – or a businesses IT system operating less than optimally.
But downtime and inefficiency are not the biggest IT-related issues costing money. Perhaps the biggest cost related to the time so many executives in businesses small, medium and large spend thinking about their technology rather than focusing on issues more directly related to profitability. When an executive is thinking about their technology, they are not thinking about making money.
I like to think about technology. It is my business and my passion. This is not, however, the case for my clients. Most enquiries to Wolfe Systems come from executives who want to stop thinking about their technology so that they can focus on other parts of their business. Common issues include:
- Slow internet speeds – which can have a serious impact on productivity.
- Security threats and breaches – which are becoming more and more common.
- Data storage and retrieval issues – which are becoming increasingly important.
- Systems failures – which can have a catastrophic impact on productivity.
- Out of control costs – which are both common and painful.
Our job is to eliminate these kinds of issues so that our clients never have to think about their technology again. Here are our thoughts on the five most common issues:
- No business ever needs to tolerate slow internet speeds. There is always a way of increasing internet speeds.
- Some 58% of security breaches are the result of staff errors. These and other threats need not be a source of concern.
- We have the technology to ensure efficient data storage and guarantee rapid and complete recovery after a systems failure.
- Eliminating the threat of systems failure involves – a long term strategy, an annual audit, and monthly reviews.
- Ensuring IT costs are under control involves – a long term strategy, an annual audit, and absolute transparency.
If you spend any time thinking about your technology, you have probably engaged the wrong technology consultants. Your technology should operate in a manner that enables you to focus on core business. If your technology or Managed IT consultant is doing their job – downtime, data storage issues, recovery problems, and security threats should be a thing of the past.
The question then is – how do you recognise the right Managed IT business or consultant for your business? Many businesses struggle to identify the consultant best suited to their business, and experience suggests that variations between Managed IT businesses and consultancies make a matching process essential. My advice in this regard can be summarised as follows:
Ensure your Managed IT consultant is suited to the size and nature of your business. A compatible culture is essential.
- Never appoint a Managed IT consultant who is unwilling to set and be held accountable to agreed key performance indicators.
- Ensure your Managed IT consultant undertakes a comprehensive audit and provides a SER1 rating before proposing.
- Never appoint a Managed IT consultant who does not offer an annual audit and monthly reports with a SER2 rating.
- Ensure that your Managed IT consultant can demonstrate (and not just claim) the buying power to save you money.
- Never appoint a Managed IT consultant who is not open to conversation at any time – while giving you no reason to call.
If you are thinking about your technology or your Managed IT consultant does not satisfy these 6 criteria – change consultants. The sooner you change – the more you will save and the less you will worry. Changing Managed IT consultant is straightforward. It can take just 60 minutes. All you need to do is:
- Take 5 minutes to call Wolfe Systems.
- Take 25 minutes to participate in the audit completed by Wolfe Systems.
- Take 25 minutes to review the proposal provided by Wolfe Systems.
- Take 5 minutes to send Wolfe Systems a confirming email.
We will take care of the rest, including the closure with any existing arrangements or relationships in place.
If you want to know more, please give me a call or email me.
0488 445 044