World events have always had a big impact on the banks that one finds on Wall Street, but in many ways, the one that coronavirus (COVID-19) has demonstrated has been unprecedented. As such, it almost provides a case study of the importance that disaster recovery planning has for any business… Wall Street institutions included.
As the virus has spread across the world, markets everywhere have felt its impact. Distribution patterns have been disrupted due to assorted blocks on travel. Additionally, the meetings and conferences that this industry typically sees have been cut off. Naturally, this has led to these banks rolling out their backup strategies, the pits that are typically filled with traders abandoned… but more on that in a moment.
How Has Coronavirus Encouraged Disaster Recovery Awareness?
Getting right down to brass tacks, it is clear that COVID-19 is a disaster, albeit one that you may not have considered a “business disaster” at first. However, anything that interrupts a business’ processes is considered a disaster… and it is safe to say that COVID-19 has done just that. So how do you prepare a business for a pandemic?
Actually, it isn’t all that different than what your routine business continuity processes should consist of, specifically, the fact that–in case of a disaster–you need to be sure that your business has the mobility it will need to survive.
Coronavirus’ hallmark is the social distance that is recommended to be kept between people to prevent the spread. Therefore, it makes sense that people would want to keep as far of a distance from each other as possible.
The solutions for remote work, software-as-a-service delivery, and cloud-based disaster recovery prove very valuable both when you want to give your users the capability to work from their home, as well as when your office is the location of a disaster event.
So, in order to protect your employees from the spread of coronavirus, you only need to be protecting your business from other disasters as well. Sounds like a win-win.
For assistance in implementing the technology needed to maintain your operations through any disaster, reach out to the professionals at DS Tech by calling (906) 786-0057.