2024 State Of Bcdr, India Bcdr 2.0: Transitioning From Data Protection To Cyber Resilience

Two of Five Indian businesses Lack a Business Continuity and Disaster Recovery Strategy, Think Teal Research Finds
Nearly half of Indian businesses review their BCDR strategy only once in three years; 40% say they have limited expertise in managing it
Cyber-attacks emerge as number one disaster concern for IT leaders in India; replacing natural calamities or any other political unrest
86% mentioned the mitigation of ransomware attacks as one of their top reasons for having a BCDR strategy
More than 60% of companies who are building new applications, are doing so on cloud
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New Delhi, February 19, 2024:
Despite rapid digitization, Indian enterprises have alarming levels of complacency in Business Continuity and Disaster Recovery (BCDR) planning, a new survey of Indian businesses by leading enterprise IT analyst firm Think Teal has revealed. Nearly 50% of Indian businesses review or revisit their BCDR strategy only once in three years, the survey has found. More worryingly, nearly 40% businesses say they do not have any detailed BCDR strategy or plans, while a similar proportion have limited expertise in managing BCDR.

The findings are based on interviews with over 220 CIOs and IT decision-makers of large enterprises and are part of Think Teal’s Tealscope “2024 State of BCDR, India” report. These enterprises each have a minimum of 500 employees and represent diverse industry verticals, including BFSI, IT, ITeS, Manufacturing, Government, Media, Healthcare and Retail, among others.

A whopping 79% of the survey respondents said that cyberattacks are the top concern for their businesses when planning a BCDR strategy, replacing other risks including employee negligence, natural disasters, or political unrest.

“As organizations embrace the advantages of an interconnected world, the need to safeguard against cyber threats becomes paramount. BCDR, once tailored to address traditional disruptions, had to swiftly adapt to confront the intricacies of cybersecurity challenges. In this context, the evolution of BCDR mirrors the unfolding narrative of a digital era, where resilience is not just about mitigating physical risks but also navigating the complexities of a cyber-threat landscape,” – says Apalak Ghosh, Founder and Chief Analyst, Think Teal.

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BCDR in the SaaS Age
According to Think Teal’s survey, with the rapid growth of SaaS applications, which do not necessarily come with inherent backup solutions, the demand for BCDR is on the rise. For 63% of the survey respondents, protection of data stored in SaaS applications was among the top reasons for having a BCDR strategy in place, while 86% mentioned the mitigation of ransomware attacks as their number one reason.

This factor is further corroborated in the continuing shift to the cloud. As per the survey, the proportion of businesses who have at least half of their data stored on premise will shrink from 79% at present to 61% within the next two years.

Further, more than 60% of the companies who are building new applications are doing so on the cloud, the survey found. Around 80% of the organizations already have more than 30% of their data on cloud.

IT Leaders in India need to look at the Bigger Picture
A commonly observed phenomenon among most Indian enterprises today is the siloed working of the security and the backup functions, the Think Teal report notes. 65% of enterprises still have security and backup function operate in isolation. As per Think Teal research, more than 85% of the ransomware attacks categorically target the backup repositories, as cyber miscreants have dual advantage of easily targeting and attacking the very core of the business.

“Tighter IT budgets often restrain businesses in India. Businesses face challenges in prioritizing and allocating resources to several key areas, including Business Continuity and Disaster Recovery (BCDR). The financial limitations, in general, force decision-makers to focus on immediate operational processes rather than on needs related to risk mitigation. As a result, aspects like Business Continuity Planning (BCP) are not frequently revisited and, in some cases, are known to be neglected altogether”, according to Nithin Uttarkar, Associate Director at Think Teal.

In the past, companies often adopted a reactive approach to their data recovery and business continuity needs, highlighting the necessity for a comprehensive strategy. “The evolving threat landscape and increasing frequency of disruptions among Indian enterprises is gradually changing the view of most IT decision-makers. They acknowledge the importance of overcoming budgetary constraints and are investing in resilient BCDR strategies and solutions,” Nithin added.

While most enterprises express their initial concerns about high upfront costs, the long-term benefits of safeguarding data, tackling downtime and ensuring business continuity influence the thought process, and businesses see BCDR as a strategic necessity.

Read more about how BCDR 2.0 will be critical for enterprises in transitioning from 'Data Protection to Cyber Resilience' in the '2024 State of BCDR, India' report, available for downloading click here.

About Think Teal’s Tealscope Program
Tealscope is a dynamic platform by Think Teal that goes beyond conventional insights and offers a captivating blend of storytelling and visually appealing infographics. Tailored for both industry professionals and watchers, Tealscope delves into current end-user perspectives and also paints a vivid picture of futuristic technology trends. It aims to democratize valuable insights for the Enterprise ICT market in India. Stay informed, stay ahead with Tealscope's inclusive approach to understanding the future of technology.

About Think Teal
Think Teal is an Analyst firm tracking the Enterprise ICT Market in India. Think Teal helps technology firms understand the markets that they serve and support them in achieving their business objectives. To understand more about Think Teal, please reach out at www.think-teal.com