Organizations dealing with money must make sure they are properly backing up sensitive data.

Best continuity practices for hedge funds

Stephen Perkins

Financial organizations, such as hedge funds, need to be able to stay online at all times. In the event of a disaster, there must be an online data backup and continuity practice in place to make sure nothing goes down for too long. IT professional Grigoriy Mills wrote on Virtual-Strategy Magazine that these organizations need to first think about scale when looking into a continuity and recovery strategy.

"Make sure the business continuity plan takes into account all elements of the firm's technology and realistically approaches how employees conduct business," he said. "A five-person startup may be able to successfully implement a plan that won't work for an established fifty-person firm. Acknowledgement of scale is crucial. It's not just office scale that needs to be accounted for, but also the scale of the potential business disruption."

Other issues to consider can include:
- Real time replication of the production environment to ensure reconnection
- Ease of bringing the solution online quickly
- Compliant solution that will keep all of the information safe
- Officers in charge of hot sites to make sure everything is being run smoothly

Data backup can be especially important for smaller institutions who are completely reliant on access to their information. Small Business Administration blog contributor Caron Beesley said organizations must automate their backups to build in redundancy, have a full-service security solution to help guard information in the system and have a plan for what the business will do if there is a disaster that takes place in its local area or near a data center.

"While the value of our business data is incalculable, protecting your business and your employees by ensuring you are prepared for the eventuality of a natural or man-made disaster is equally critical," Beesley said. "Create a plan of action to lessen the impact of disasters, and a disaster recovery plan to ensure you are up and ready for business sooner."

Categories: Data Management