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How moving to DRaaS can Fuel Innovation and Growth

Focus on growth with DRaaS

The top three business initiatives remain unchanged from last year. Digital transformation, cybersecurity, and cloud remain relevant because they help reduce IT costs and enable new business strategies and models. They also make new products and services possible and create new streams of revenue.

Unfortunately, IT spending is standing on its head, with 64% spent running the business and 36% on growth and innovation. Cloud adoption and DRaaS help in better aligning IT spending and business objectives.

Nothing highlights the urgency of reigning in costs more than the 3X increase in enterprises’ cost savings initiatives over last year.1

Is now the time for DRaaS?

The argument in favor of cloud alternatives is over, and the time to embrace DRaaS is overdue. By 2023, more than half of x86 servers’ workloads in internal data centers will use the public cloud for DR.2 Furthermore, cloud software will make up 30% of total budgets surpassing the 24% earmarked for on-premises software. 62% of companies will reduce their use of internal data centers in the next two years.2

The shift to cloud and SaaS consumption is driven by powerful technology and business changes that brought us to the tipping point:

  • Runaway costs. Lack of real-time visibility into IT spend leads to budget overruns in more than 24% of It projects, with about 30% of spend going to waste.3 Manual processes and the absence of quality data complicate cost optimizing initiatives. There is light at the end of this tunnel. Cloud adoption and IT modernization helped 60% of companies realize cost efficiencies and savings.4
  • Data sprawl. IDC estimates that the amount of digital data to be created over the next five years will be greater than that twice the amount of data created since the advent of digital storage.” The cloud makes managing exponential data growth effortless.5
  • Cyber threats. Protecting against cyberattacks requires an air-tight security posture and reliable DR plans. While the impact of cyberattacks is evident today, analysts expected that one organization would fall victim to ransomware every 11 seconds by the end of 2021.6
  • Skillset gap. The increase in cloud adoption and rising IT spending exacerbates the acute shortage of technical IT talent worldwide. Adopting cloud and DRaaS reduces IT overhead and budgets.

Improve visibility and control spend

The benefits of adopting cloud and DRaaS solutions are numerous and cover more than the core cost savings and business continuity.

  • Visibility and cost savings. Financial reports and are available in real-time, offering better-informed decisions. The cloud consumption-based utility model helped 60% of companies improve financial gains and efficiencies by moving away from Capex investments to budget-friendly OpEx.7
  • Optimized cloud costs. Fine-tune cloud resources to applications requirements to avoid over-provisioning and overspending. Cloud adoption helped companies keep IT spend to only 7.5% of revenue.8
  • New revenue streams. Nearly 58% of companies could capitalize on cloud innovations and create new products and services with additive revenue streams.9
  • Availability and uptime. Maintaining the business engines running is vital to business survival. About 54% of enterprises saw an improvement in business availability with cloud adoption.10
  • Higher customer satisfaction. Customer satisfaction is job one for everyone. Embracing the cloud helped 56% of companies improve customer experience and satisfaction.11
  • Turn data into business value. Data is the most valuable digital asset. Nearly 56% of companies using the cloud model improved their ability to extract business value from data. Visibility, accessibility and data analytics tools facilitate growing business value.12
  • Maintain security and compliance. Companies can use cloud DRaaS to respond to audits and demonstrate compliance with data regulations through proper reporting and documentation. Security remains the top challenge for 81% of organizations.13

Sources:

1, 5, 8. Flexera 2021. “The State of Tech Spend Report.

2. Gartner March 2021. “Market Guide for Consumption-Based Pricing for Data Center infrastructure.

4, 7, 9-12. IDG 2020. “The State of IT Modernization 2020.”

3,13. Flexera 2021. “Flexera 2021 Stare of the Cloud.

5. IDC March 2021. “Data Creation and Replication will Grow at a Faster rate than Installed Storage Capacity.

6. Gartner April 2020. “Survey Analysis. IT Disaster Recovery Trends and Benchmarks.”

DRaaS is a Business Growth Strategy

Transformational changes, as we experienced in 2020, bring challenges and unforeseen business opportunities. Improving enterprises’ growth opportunities and ensuring business continuity are two areas where the cloud plays a vital role. Organizations that embrace the cloud transform into asset-light entities that are agile, more competitive and focused on the growth of their businesses. Cloud-based disaster recovery as a service (DRaaS) is the foundation of a sound business continuity strategy that keeps the company running, even in the aftermath of a disruptive event.

Enterprises with mature cloud adoption improved business resiliency and reliability as they reduced downtime by 58% and monthly critical incidents by 55% with cloud migration.1

Ride the waves?

It is always prudent to ride the waves of change than to fight them. New trends, including SaaS and IoT, have shifted enterprise data to the edge and the cloud. A recent IDC report found that only 30% of stored data is stored in internal data centers. It makes the most sense to have your backup applications near your data in the cloud.2

The rising cyberthreats serve as a constant reminder and a motivator for moving corporate data to the cloud to be better protected. Business continuity requires air-gapped backup copies that are readily available in the event of a disruption. DRaaS is the wise option for a full recovery and the lowest downtime.

Gartner predicted that cyberattacks were likely to impact one organization every 11 seconds by the end of 2021. Aside from being costly, breaches will damage an organization’s reputation and cause loss of customers and trust. Cyber-attacks tend to have a long tail, and their impact on enterprises lasts for years.3

DRaaS makes good business sense?

DRaaS is the most precious business insurance policy that one can find. The value of DRaaS is rarely appreciated until we need it, however it turns out that businesses need disaster recovery a lot. Gartner says 76% of organizations reported at least one incident in the past two years that required an IT DR plan.4 Let’s look at some of the business benefits of DRaaS:

  • Budget-friendly OpEx. The cloud model offers a utility consumption model where you pay for what you consume. The new model removes the expensive upfront CapEx investments and lowers operating expenses for simplified testing.
  • Free scarce IT resources. DRaaS frees IT teams to focus on more valuable business initiatives.
  • Maintain business continuity. Cloud-based backups are air-gapped and beyond bad actors’ reach, ensuring business continuity with the least disruptions.
  • Data protection. Cyberthreats are a constant danger that requires resources beyond IT teams’ abilities. About 81% of organizations consider security their top challenge.5
  • Continuous compliance. DRaaS enables enterprises to respond to audits and demonstrate compliance with proper reporting and documentation.

Learn more about how to grow your business with our cloud DRaaS by visiting: Global Storage

Sources:

  1. McKinsey Digital February 2021. “Cloud’s trillion-dollar prize is up for grabs.”
  2. Seagate 2021. “Rethink Data. Put More of your Business Data to Work from Edge to Cloud.”
  3. Gartner December 2020. “How to Cut Costs for Backup and Recovery Software, Now and in the Future.”
  4. Gartner April 2020. “Survey Analysis. IT Disaster Recovery Trends and Benchmarks.”
  5. Flexera 2021. “Flexera 2021 Stare of the Cloud.”

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