The Importance of Data Redundancy: Why You Should Care About Cloud Data Backup in Light of the Bench-Employer.com Acquisition
2 MIN READ
Jessica Kentch, Founding Parter, Ablaze Analytics & Collective
At Ablaze Analytics & Collective, we understand that data is the backbone of modern business. The recent acquisition of Bench Accounting by Employer.com revealed how crucial it is for companies to prioritize data redundancy, particularly when handling sensitive financial information. The disruption that Bench clients faced—especially the risk of losing their financial data—serves as a reminder of why cloud data redundancy is essential. In this post, we’ll explore the importance of cloud data redundancy, why we implement it, and why you should care about protecting your data.
What Is Cloud Data Redundancy and Why Is It Essential?
Cloud data redundancy involves storing copies of critical data in multiple cloud locations or systems. This strategy ensures that if one part of the cloud infrastructure fails, the data can still be accessed from another secure location. By creating these backup copies, businesses can safeguard against data loss and ensure operational continuity.
The recent Bench Accounting situation demonstrated what happens when data isn’t properly safeguarded. Clients feared losing critical financial information when Bench’s services were suddenly disrupted. For businesses, particularly those in the financial sector, the loss of data is more than just inconvenient—it’s a catastrophic event that can have long-lasting consequences. This is why cloud data redundancy is so important.
Why Cloud Data Redundancy Matters
1. Protection from Data Loss
The primary benefit of cloud data redundancy is protecting your business from data loss. Whether it's caused by server failure, cyberattacks, or unexpected outages, a well-executed cloud redundancy strategy ensures that even in the worst-case scenario, your data remains safe. In the case of Bench Accounting’s shutdown, businesses relying on its services were at risk of losing years of critical financial data. Cloud data redundancy could have prevented this disruption by ensuring that client data was backed up across multiple cloud platforms, accessible even if one server went down.
2. Business Continuity
For businesses, continuity is everything. A disruption in service, particularly during crucial financial periods, can halt operations and cost time, money, and trust. Cloud data redundancy guarantees that your systems remain functional, even if there’s an issue with one cloud service provider. It allows you to recover quickly, keeping your business up and running without significant downtime or data loss.
3. Client Trust and Security
Your clients trust you with their most sensitive information, including financial records. Maintaining cloud data redundancy assures your clients that their data is protected, even if a failure occurs. When clients know their data is secure in the cloud with backups across multiple locations, they’re more likely to trust you with their business.
Additionally, cloud providers offer high levels of security, including encryption and compliance with data protection regulations, further strengthening the security of your client’s data.
4. Faster Recovery and Reduced Risk
In the unfortunate event of data loss, cloud redundancy enables faster recovery. Rather than scrambling to restore data from a single point of failure, redundant systems in the cloud allow you to recover information quickly and efficiently. For businesses in the financial sector, this speed can be the difference between staying afloat and facing long-term consequences due to lost data.
The Bench Accounting shutdown demonstrates just how fragile a single point of failure can be. If Bench had used proper cloud redundancy, it would have ensured that clients’ financial data remained safe, even during an unexpected event.
Why You Should Care About Cloud Data Redundancy
You might wonder: why does this matter to your business? Let’s break it down.
1. Data Loss Can Be Catastrophic
Losing financial data is more than just a setback—it can result in legal, regulatory, and financial repercussions. If you lose access to your financial records, you could miss important tax filings, audits, and business decisions. With cloud data redundancy, this risk is significantly reduced, giving you peace of mind that your data is always accessible and recoverable.
2. Client Confidence Is Key
When clients choose to work with you, they entrust you with their most sensitive data. If your systems fail and their data is compromised or lost, their trust in your ability to protect that information can evaporate quickly. By investing in cloud redundancy, you’re demonstrating to your clients that their data is secure, which strengthens your relationship with them and helps you build long-term loyalty.
3. Compliance with Industry Standards
Many industries, especially financial services, are subject to strict data protection and privacy regulations. Cloud redundancy helps ensure that your business complies with these standards by providing secure and reliable data storage that meets industry-specific requirements. It can also prevent potential fines and legal challenges stemming from data loss or breaches.
4. Minimized Downtime
Whether it’s due to hardware failure, natural disaster, or cyberattack, downtime can be extremely costly. In the event of a failure, cloud redundancy ensures that your data is readily available from another server, enabling your business to recover quickly and continue its operations. Without cloud redundancy, you might face prolonged outages, which can harm your reputation and your bottom line.
Conclusion: Data Redundancy is a Necessity for Every Business
At Ablaze Analytics & Collective, we’ve built our data management strategies around the core principle that redundancy in the cloud is essential for business success. The Bench Accounting debacle has made it clear: data loss is not just an inconvenience; it’s a potential business-killer. By prioritizing cloud data redundancy, you’re not only protecting your business from unforeseen disruptions but also ensuring that you’re able to recover quickly and continue serving your clients without interruption.
Investing in cloud data redundancy is a smart, proactive choice that ensures the safety, security, and availability of your data. At a time when data is increasingly at risk, it’s more important than ever to choose a solution that keeps your business and your clients safe.
If you’re interested in learning more about how cloud data redundancy can protect your business, contact us at Ablaze Analytics & Collective today. Let’s ensure your data is always available, no matter what.