What’s the Average Cost of IT Downtime?

flushing money down the toilet

(2-min read)

We’ve all been there — you’re chugging away at a nice productive tick when WHAM — your system goes out. Whether a specific document management system goes offline or your internet connection gives out, you’re stuck. After a few moments, you begin to witness the frustration in the office. People wander out of their offices or cubicles to complain while others just sit there, twirling pens or playing solitaire. Though immensely annoying, IT downtime is also immensely expensive. Not only has the productivity of these hourly or salaried employees dropped to virtually zero, but customers and clients’ requests are often dead in the water. So, just how expensive is IT downtown on average? 

$5,600 a minute. 

This number comes to us from the research company Gartner. Simple math puts the hourly cost to around $336,000. According to another survey cited by Gartner, this number can vary between $140K and $540K per hour depending on company size, risk tolerance, and various other considerations. 

Damage to Reputation

A number much more difficult to calculate is how much IT downtime costs in terms of your company’s reputation. Even one significant shutdown event can result in customers taking their business elsewhere or may deter would-be customers from doing business with your organization in the first place. If your company develops any kind of reputation for having an unreliable customer-facing system or even just slower follow-up on the backend, leads are likely to take their business to companies with a more robust, reliable IT infrastructure. 

Importance of Reliable Managed Network Services

Just like the underdeck crew of a ship that’s had its hull compromised, having a team of experienced Managed Network Services IT professionals can be the difference between sinking or reaching your destination. In addition to crew members, the right MNS investment in your company can make your ship resistant to such issues that would otherwise result in expensive downtime.

Learn more about the trusted Managed Network Services of the business professionals at JD Young today.