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Continuity Software Posts Results of Its 2013 Financial Services Availability Benchmark Study [Manufacturing Close - Up]
[May 09, 2013]

Continuity Software Posts Results of Its 2013 Financial Services Availability Benchmark Study [Manufacturing Close - Up]


(Manufacturing Close - Up Via Acquire Media NewsEdge) Continuity Software, a provider of service availability risk management solutions, announced the results of its 2013 Financial Services Availability Benchmark study.

According to a release, it reveals that while financial services organizations are obligated to establish and report stringent service availability objectives for mission-critical systems, they are actually among the worst performing in regards to meeting these goals. In fact, 41 percent of those surveyed acknowledged that they did not meet their service availability goals for mission-critical systems in 2012.



Continuity Software also announced the results of its second annual 2013 Enterprise Service Availability and Business Continuity Benchmark survey. Based upon responses from IT executives across a range of industries, the results reveal that much like the financial services industry, they also have highly commendable service availability goals for mission-critical systems. Nonetheless, 32 percent of the organizations surveyed reported that they did not meet their goals.

"The Continuity Software 2013 Financial Services Availability Benchmark study and the 2013 Enterprise Service Availability and Business Continuity Benchmark survey offer executives responsible for their organization's IT, disaster recovery (DR) and/or business continuity an opportunity to see how their own goals and results stack-up in comparison to their peers," said Doron Pinhas, Chief Technology Officer (CTO), Continuity Software. "More importantly, it points out the most common causes for outages, as well as presents the most effective strategies for ensuring service availability." 2013 Financial Services IT Availability and Business Continuity Benchmark Survey - Quick Summary of Findings: -89 percent of financial service organizations have an availability goal of >99.76 percent (less than 22 hours of downtime a year); 67 percent have a goal of >99.91 percent (less than eight hours); and 25 percent have a goal of 99.99 percent (less than one hour).


-41 percent of the survey respondents did not meet their goals.

-41 percent conduct complete DR tests at least annually; 26 percent don't ever conduct a complete test.

-73 percent run mission-critical applications in a private cloud environment; 30 percent run mission-critical applications in the public cloud.

-37 percent do not have any process in place to test reliability of private cloud systems.

2013 Enterprise Service Availability and Business Continuity Benchmark Survey - Quick Summary of Findings: -90 percent of business organizations have an availability goal of >99.76 percent (less than 22 hours of downtime a year); 68 percent have a goal of >99.91 percent (less than eight hours); 27 percent have a goal of 99.99 percent (less than one hour).

-32 percent of the survey respondents did not meet their goals.

-The lowest downtime figures were reported by respondents from the transportation industry (3.7 hours average/year), followed by high-tech (4 hours), and business service organizations (4.2 hours).

-The highest downtime figures were reported by respondents from the healthcare industry (14.1 hours), financial services (8.9 hours) and public sector organizations (8.5 hours).

-71 percent run mission-critical applications in a private cloud environment; 33 percent run mission-critical applications in the public cloud.

-40 percent do not have any process in place to test reliability of cloud systems.

More information: continuitysoftware.com ((Comments on this story may be sent to newsdesk@closeupmedia.com)) (c) 2013 ProQuest Information and Learning Company; All Rights Reserved.

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