Your data is your business. Your financial records, your sensitive customer information, your supplier lists – this is your intellectual property. This is what makes your business tick. And this is why you need to back up your business data. Because if anything were to happen to it, you’d be lost.
In this post we’ll discuss why backing up your business data is an integral part of IT and cyber security. We’ll also explore some best practice techniques for backing up your business data.
If you want to discuss your cyber security risks, we have a team of experts on hand to help. Call us on 0208 290 9080 or email us at cyber@anthonyjones.com.
Should We Be Backing Up Our Data?
Yes. If you’re not already backing up your business data, the time to start doing so is now.
What Does ‘Backing Up’ Mean?
Backing up your business data means duplicating the data on your existing secure system and storing it in a second equally secure location. That way if anything ever happens to your existing system, you can easily restore the data from the backup.
So data backup provides an essential safety net. If anything ever happens to compromise your systems – whether it’s a fire, a flood, or a cyberattack – you can quickly bounce back and keep your operation going with as little downtime as possible.
What Data Should Businesses Back Up?
In short, you should backup whichever data you’d miss the most were you to lose it. But from a cybersecurity perspective, it also makes sense to target the data that cyber criminals are most likely to target. This includes:
- Employee information – Including personal details, employment records, payroll information, and medical files.
- Customer information – Including contact details, purchase histories, customer preferences, and any insights from your feedback.
- Financial records – Including your bank statements, your invoices, your reports, your forecasts, and so on.
- Legal documents – Including your insurance certificates, your contracts, your compliance documents, and any records of your branding, trademarks, or intellectual property.
- Operational documents – Including your inventory lists, any details of your workflow or other processes, and your lists of suppliers and other services.
How to Back Up Your Business Data
For best practice in data backup, look no further than the 3-2-1 backup strategy.
In practice, this means:
- You have 3 copies of your data – For every critical piece of data, you have your original and two additional backups.
- You have 2 different media types – In short, you don’t backup your data in the same place, or in the same format. This could mean you keep one backup on an external hard drive, and another stored on the cloud.
- You have 1 offsite backup – Finally, you need to ensure that at least one of your two backups is kept offsite. This way, if a fire or a flood ever compromises your business premises, you can at least rest assured that none of your critical business data was lost. Storing one backup in the cloud will suffice. So too will storing backup data on a physical hard drive kept in a different office.
How Often Should You Backup Your Business Data?
You probably don’t have the time or the resources to continuously backup all of your business data. So instead, think in terms of priorities:
- Critical business data (customer information, transaction records etc.) – Try to back this up as regularly as you can. If possible, do so daily, so that you’ll always be able to refer to an up-to-date snapshot of your business operations. Certain CRM and finance apps allow for continuous and automatic data backup to the cloud.
- Everyday business data (inventories, customer feedback etc.) – Aim to backup any data that changes regularly on a weekly basis. This way, you can keep tabs on any recent changes to your business or your operations without putting too much strain on your systems.
- Archival business data (employee information, intellectual property etc.) – Think of this as your historical data. It’s the lifeblood of your business, but it doesn’t change very often – if at all. You should be able to get away with backing up this data at least once a month.
How to Safeguard Your Business Data
You have a duty of care to cover your business against all possible risks. This includes the risks posed by data loss, data breaches, and other cyberattacks.
In the event of a data breach, backup data will help you get back on your feet as soon as possible. But dedicated cyber insurance will cover your business’s liability as well as your ability to manage the impact on both your systems and finances.
If you have any questions about business insurance, or if you want to discuss whether cyber insurance is right for you, we have a team of experts ready to help. Call us on 0208 290 9080 or email us at cyber@anthonyjones.com.
