When your core product is a web app or online service, the last thing you need is an issue that puts a stop to conversions and brings everything to a grinding halt.
Even the largest of companies can be affected by downtime. In Europe, for instance, companies lose 552 man hours each year because of malfunctioning technology, which causes an estimated reduction of 37% in revenue.
There’s a domino effect, too. If a company’s internet service is disrupted then there is no access to internet banking, it is impossible to send and receive email and orders are halted. All this leads to an unhappy customer base and, eventually, brand damage.
For more stats and insight on downtime, take a look at the below infographic from Technology Services Group (TSG).