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Server room horror stories: the true cost of bad IT in your business

Either tackle bad IT practices head-on, or suffer the potentially crippling consequences...

Whether you're a small business considering implementing an IT plan for the first time or a multinational rolling out a large IT project, the core issues remain the same – we all need reliable IT support from qualified professionals. If you don't, you risk the following...

Don't Skimp on Security

Cybercrime costs the UK economy £27 billion a year

The annual cost of cybercrime to small-to-medium businesses in the UK is £785 million.

Some SMEs may feel that hacking or data errors only happen at multinationals; that their company is too small to be noticed or for their security systems to fail. But consider the following statistics from the Federation of Small Business' Cyber Security and Fraud 2013 report:

“Average annual cost to small businesses of fraud and online crime at just under £4,000 per year – 1% lost £50,000+.”

Three in 10 members have been a victim of online crime over the last year:

  • ‘Virus infections’ (20%)
  • ‘Hacking or electronic intrusions’ (8%)
  • ‘System security breach/loss of availability’ (5%)

[SOURCE: http://www.fsb.org.uk/frontpage/assets/fsb_cyber_security_and%20_fraud_paper_2013.pdf]

http://www.symantec.com/en/uk/about/news/release/article.jsp?prid=201203...

Your IT Backbone

UK business is losing one billion man-hours a year because of poor IT. Rackspace's IT Industry Service Report reveals:

  • 39% IT staff are estimated to be losing around one working day or more per week on tackling IT problems and chasing suppliers
  • 69% have dropped IT suppliers in the past 12 months because of customer service shortfalls.

http://www.computerweekly.com/news/2240170625/IT-suppliers-cost-UK-businesses-one-billion-man-hours-a-year

Train Your Staff

Research by TalkTalk Business has revealed that 62% of SME staff will have a go at sorting out an IT issue themselves – this is despite the fact that only 9% rate themselves as being tech savvy. This means that:

  • …an average of two hours a week per employee is lost in downtime.
  • …40% of staff have no tech training at all but over 50% of staff believe that IT training would make them more efficient.
  • …TalkTalk believes that if SMEs gave higher priority to IT training, they would gain the equivalent of one extra member of staff for every 20 employees.

[SOURCE: http://www.biz-works.net/index.php5?SID&fl=y&pgid=bp&art=528&st=lack-of-it-training-costs-businesses]

Power Problems

At the heart of any IT system is power – without it, everything fails. According to Symantec, power outages can can cost small businesses an average of £8,500 a day; that figure can swell if the outage continues as customers lose confidence in your firm's ability to deliver.

[SOURCE: http://smallbusiness.foxbusiness.com/technology-web/2011/04/29/dont-fall-common-mistakes/]

The True Cost of IT?

If you're embarking on a major IT project, bear in mind that the development could go wrong – and budgets could swell. According to the Harvard Business Review:

  • …projects have been known to go over budget by 400% with only 25-50% of the projected benefits of the project being realised.
  • …even on medium-sized tech projects, budgets can go over 200%.
  • …could your company survive such a hit?

[SOURCE: http://hbr.org/2011/09/why-your-it-project-may-be-riskier-than-you-think/]

There Is A Better Way...

Hire a third party who can be trusted to offer reliable IT support. Ask IT Farm for an evaluation of your business to see how it can help you stop worrying – and start growing.

Dr James Huntington Managing Director

James is the Founder and Managing Director at IT Farm. His background in Computer Science help lay the foundation for IT Farm to become one of the UK's first Cloud Computing Companies.

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