Shares of Wells Fargo & Co. closed down more than 2 % recently after a nationwide outage hit the bank’s ATM and online networks. It was the second outage to hit the troubled bank in a week.
… this is the exact situation no organization wants – and a situation preventable with NonStop.
And a great lesson in what happens when running important applications with systems not sufficiently architected for on-line, real-time, all-the-time information services.
Extending on this, with the Facebook IPO fiasco, did NASDAQ realize the business risks they were incurring by going off NonStop ? Having worked at a Stock Exchange, I can confirm nothing causes problems like a system outage!
Unfortunately, Wells Fargo and the NASDAQ are not the only financial institutions that didn’t realize the risks with an inappropriate platform for essential information services. Further, it’s not a good idea to risk having people not being able to access their money!
As well, it’s also unfortunate there are many examples of business challenges associated with digital disruption, innovation to enter new markets / grow current markets, expand relevance and revenue, move to a new business model, etc.
Because of this and with many industries now operating in on-line, real-time, all-the-time environments – it appears organizations need NonStop more than ever!
This is compounded by studies that have proven – ” disappoint a Customer once they may come back, disappoint them a 2nd time, chances are they’re gone.”
From this it’s easy to determine system outages cause brand damage, loss of revenue/profit, kills opportunities, etc. – which over time undermines business viability and potentially the very existence of the organization.
For further evidence of this, witness the increasing turnover of companies in the Fortune 500 and the huge challenges with innovation in enterprises to meaningfully improve business outcomes.