LanDynamix, a leading managed IT services provider, says companies trying to quantify the cost of downtime all too often make the mistake of tackling it from a technology perspective, when in fact it is a financial and business issue.
According to LanDynamix technology adviser Ethan Searle, key technology stakeholders in companies will acquire the buy-in of financial and operational stakeholders if they are able to quantify the cost of the problem and demonstrate how their intended technology decision will generate a return on investment for the business.
Searle defines these as the following:
The human cost is relevant because the business is essentially paying the employee for idle time during IT failures.
“The cost of the server going down halfway through a workday with one day to bring the services live again could cost a business of 50 employees approximately R202 500.
No two businesses are the same, but this guide can provide any company with a first step towards understanding what a technology failure looks like in hard cash.