40 percent of Indian businesses lack a business continuity and disaster recovery strategy according to research by enterprise IT analyst firm Think Teal. Of those that do have a business continuity and disaster recovery strategy, nearly 50% review or revisit it only once in three years and only 31% carry out regular training of employees related to this area.
In addition, 57% of respondents said that their organization was working towards achieving ‘cyber resiliency’ but less than 10% said that their business continuity and disaster recovery strategy aligns with their cyber resiliency goal.
The findings are based on interviews with over 220 CIOs and IT decision-makers of large enterprises and are part of Think Teal’s ‘2024 State of BCDR, India’ report. These enterprises each have a minimum of 500 employees and represent diverse industry verticals.
The survey identified the types of disasters that Indian businesses are most worried about. These are:
- Cyber attacks: 79%
- Employee negligence: 61%
- Natural calamities: 51%
- Geopolitical crisis: 49%
- Hardware failure: 43%
- Power outages: 37%
In terms of the top reasons for having a business continuity and disaster recovery strategy in place, these are:
- Mitigation of ransomware attacks: 86%
- Disaster recovery preparedness: 71%
- Protection of SaaS based applications: 63%
- Ensuring regulatory compliance: 57%
- Safeguarding remote users: 42%
