WHAT IS THE COST OF DOWNTIME IN THE FINANCIAL INDUSTRY?
How bad is downtime for a financial company? As long as you get things back up and running relatively quickly, you can contain the problem of downtime, right? If this is your way of thinking, the statistics on financial industry downtime might surprise you.
The cost of downtime in the financial industry can be massive. The truth is, losing only a few minutes of power can have tremendous consequences. According to survey data, the cost of downtime to online brokerages is 6.48 million dollars per hour. While not all financial industry businesses have that level of exposure, research shows that the average bank or financial institution loses about $224,000 per year due to downtime.
However, the cost of downtime for your financial industry business can be more than just financial. A solid financial business is built on trust. When you’re handling people’s money, they want the peace of mind of knowing that you are an institution they can count on. If you’re stuck without power for any length of time, you can’t provide the service your clients need when they need it. That can mean a loss of consumer confidence, which can be devastating for your business far beyond the immediate financial repercussions.
With statistics like these, it’s easy to see why, for a financial corporation, a backup fuel supply is important. And yet, for a surprising number of companies in the financial industry, emergency preparedness and fueling is not a top priority. Significant downtime due to loss of power is inevitable unless you have a reliable source of generator fuel to help your financial corporation stay up and running. Enlist the services of Foster Fuels. You can always rely on fuel services from Foster Fuels’ Mission Critical division for financial corporation emergency fuel.
FUEL SECURITY THAT GOES BEYOND REGULATION
Make sure you are always prepared to serve your customers and know that you are in full compliance when you choose Foster Fuels for emergency fuel services. Financial organizations and insurance companies alike will gain and maintain consumer confidence by staying up and running. Remaining fully operational in the midst of a critical incident is a great way to accomplish that task, and we can guarantee fuel during an outage to ensure your business does just that. With 20 years of experience in critical facilities, our services have evolved to meet the needs of the modern financial company. Our knowledge shines through in every engagement as we work with you to ensure your fuel needs are fully met.
Learn more about how we can support your emergency fuel needs.