UK businesses suffer £10.5 bn in losses due to inadequate IT security

A recent data protection study conducted by EMC revealed the impact of data loss and downtime on businesses across the globe, amounting to over £1 trillion in financial losses annually, £10.5 billion of that in the UK alone.

Examining organisations across 24 countries — their adoption of various data protection strategies and abilities to fully employ them — the report demonstrates that companies are still unable to successfully meet the challenges presented with emerging data storage, mobile and cloud technologies.

According to EMC, businesses are still quite hesitant to disrupt their “complex” workloads by strategically creating data protection plans. In the UK the vast majority of businesses remain behind the global curve for data protection and maturity, with only two percent cited as “leaders” in the field, and eleven percent as “adopters.” This is especially surprising considering that more than three quarters of UK enterprises are “not confident” of full recovery after a disruption, and already this year 60 percent have suffered downtime and 23 percent suffered data loss in the UK.

China, The Netherlands and the US, meanwhile, lead the way in protection maturity.

“This research highlights the enormous monetary impact of unplanned downtime and data loss to businesses everywhere,”  Guy Churchward, president, EMC Core Technologies, commented in an email to SCmagazineUK.com. “We hope the global data protection index will prompt IT leaders to pause and re-evaluate whether their current data protection solutions are in alignment with today's business requirements as well as their long term goals.”
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