Secure your data: The importance of backup and how to get it right

World Backup Day is on the 31st of March – a reminder for all businesses to stay vigilant when it comes to backing up and saving data to protect against cyberattacks.

However, it’s fair to say backup and disaster recovery is important every day of the year. As businesses rely more and more on technology, the importance of backups cannot be overstated. Data is the lifeblood of modern companies and losing it can have serious consequences.

So, in that spirit, let me pose you a few serious (but well-intentioned) questions about your backup:

• How confident are you that your current backup strategy is working and can be restored quickly?
• Have you tested your backup and disaster recovery recently (within the last three months)?
• Do you have a trusted partner to manage the whole process?

Above and beyond these basic questions, there’s even more to consider when it comes to getting your backup right – and lots on the line if you get it wrong.

In this post, I’ll be discussing the importance of backups, explaining the concept of Backup as a Service (BaaS), and how a managed services provider can help your company manage your backups effectively.

What's the big deal? Why backups are critical.

 
Did you know according to Veeam, just over one in four servers had at least one unexpected outage in 2022? Unexpected outages were caused by a number of events, including cyber security events, infrastructure/network outages and application software outages.

It's crucial for businesses to prepare for this possibility, as failing to do so can result in disastrous consequences if their data gets compromised.

Here’s some other reasons why backups are critical for businesses:

Protection against data loss

Whether it’s due to hardware failure, a natural disaster, or a cyber-attack, losing critical data can be devastating for a business.

Concerningly, the 2022 State of Ransomware in Australia Report by Sophos found things don’t often pan out very well for those who fall victim to ransomware. Apparently, the average bill to recover from a ransomware incident in Australia is almost $1.45 million, and 88% of those surveyed indicated the attack impacted their ability to operate.

It also found the number one method used to restore encrypted data after a ransomware attack was backups, with 70% of Australian businesses who fell victim to ransomware using this approach.

The bottom line: If the worst happens, a well-managed backup will ensure your data is safe and can be restored quickly.

Compliance

Many industries have regulations governing how long data needs to be stored, and how often backups need to be taken. For example, the Australian Taxation Office specifies businesses need to keep financial records for five years, and the Australian Securities & Investments Commission (ASIC) requires companies to hold onto them for seven.

There are similar regulations in place for the healthcare industry. Under the Health Records and Information Privacy Act 2002, healthcare providers in NSW must retain the clinical records of patients for:

• Seven years from the date of last entry for an adult; or,
• Until the age of 25 years for a child under the age of 18.

Failure to comply with the regulations upheld in your industry can result in hefty fines.

Peace of mind

Knowing that your data is backed up regularly and securely can provide peace of mind for businesses.

The challenge is creating that peace of mind. A good backup strategy involves some specific resources, skills, and policies, such as:

• Having a strategy in place to create backups that are safe, secure, and meet the needs of both IT and business operations.
• Engaging additional technical resources with specific skillsets, who should be responsible for creating and maintaining these backups.
• Making sure your backup strategy is scalable and will grow sustainably with your business when the time comes.

A BaaS provider can help you sort through this complexity to achieve the best outcome.

So, what is Backup as a Service (BaaS)?

At its simplest, BaaS protects against the loss of the primary copy of backups or tampering by managing and monitoring both onsite and offsite backups. Ideally, data copies are held in a secure cloud-based data repository and transferred over a secure network connection. Even if your physical hardware is destroyed, your data is still safe.

The benefits of BaaS

 
There are many benefits to using BaaS to manage your backups, including:

Scalability

BaaS can grow with you. You can access efficient storage and the option to offload long term backups to public cloud for larger savings.

Geo location redundancy

Some BaaS providers offer data centres in multiple locations – something that isn’t always achievable when using your own infrastructure. This way, you’re better able to maintain business continuity if something goes awry.

Testing and management

A trusted partner like The Missing Link can handle the testing and management of your backups, so you don’t have to.

Security

BaaS solutions like Veeam are held in secure cloud-based data repositories and transferred over secure network connections, providing the highest level of security for your data.

How The Missing Link can help

 
We can help you manage the backups of your business-critical data and make necessary adjustments for any industry regulations that govern how often and how long that data needs to be stored. Our BaaS solution offers backup for offsite, on-premises and Microsoft 365.

Backups are critical for any modern business. With BaaS, you can ensure that your data is backed up regularly, securely, and managed effectively.

At The Missing Link, we’re here to help you with your backup needs and ensure that your critical data is always safe and secure. Learn more about our owned and operated SmartPROTECT solution here.