{"id":4225,"date":"2013-10-16T07:00:59","date_gmt":"2013-10-16T15:00:59","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=4225"},"modified":"2013-11-12T02:24:20","modified_gmt":"2013-11-12T10:24:20","slug":"technology-the-staggering-costs-of-failure","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/technology-the-staggering-costs-of-failure\/","title":{"rendered":"Technology: The Staggering Costs of Failure"},"content":{"rendered":"

79 percent of companies say that they experienced at least one ‘major’ technology fault in their systems within the past year, and 51 percent said that they’ve had a major roblem within just the last three months. 75 percent say that the frequencies of these major problems occurring hasn’t been improving. Those are the results of a study<\/a> prepared by Intellitrends on behalf of Compuware.<\/p>\n

Paul Czarnik<\/a>, Compuware CTO, said that<\/a>, “no company can roll back IT complexity. It\u2019s a fundamental fact of doing business today. With rising complexity and rising stakes, the price of failure has never been greater.”<\/p>\n

Bob Parisi<\/a>, network security and privacy practice leader at Marsh, said that<\/a> “the impact of technology failures on supply chains and general operations is a potentially more severe threat that many businesses may be overlooking.”<\/p>\n

Businesses average a loss of 545 person-hours every year because of IT system failures, a report from CA Technologies<\/a> found. The Aberdeen Group found<\/a> in a 2012 report that downed data centers cost businesses on average $138,000 per hour. The Compuware study puts the average cost of a single major technology failure at $10.8 million.<\/p>\n

Michael Allen<\/a>, director of APM for Compuware, said that<\/a> “the figures really are eye watering – especially when you consider the fact that these are not isolated events. Many companies are fire-fighting problems on a daily or weekly basis, hemorrhaging money and damaging the long-term health of their organization. Despite this, companies are still not taking performance management seriously, as shown by the fact that three quarters are failing to reduce the number of incidents that are occurring. Companies should be taking a proactive approach to performance management so that they can identify and remedy potential problems before they have time to impact the business.”<\/div>\n
\"Digg<\/a><\/div>
\"Reddit<\/a><\/div>
\"Stumble<\/a><\/div>
\"Buzz<\/a><\/div>
\"Vote<\/a><\/div>
\"Share<\/a><\/div>
\"Bookmark<\/a><\/div>
\"Kick<\/a><\/div>
\"Shout<\/a><\/div>
\"Share<\/a><\/div>
\"Bookmark<\/a><\/div>
\"Post<\/a><\/div>
\"Google<\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"

79 percent of companies say that they experienced at least one ‘major’ technology fault in their systems within the past year, and 51 percent said that they’ve had a major roblem within just the last three months. 75 percent say…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-4225","post","type-post","status-publish","format-standard","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/4225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=4225"}],"version-history":[{"count":0,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/4225\/revisions"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=4225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=4225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=4225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}