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The Importance of Backing Up Data for Your Business

Sharissa Barnett Feb 16, 2024 11:08:07 AM
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In today’s fast-paced business world, no business can ignore the importance of backing up data. That is because of an increase in the number of organizations carrying out their operations online. While these businesses can take precautions to avoid online risks like hackers, there is no guarantee that they are safe.

Luckily, it is never too late for them to learn how to back up files correctly. Of course, there are many business data backup methods for desktop QuickBooks users, but not all of them are helpful. For example, while users may back up their QBW file on the desktop, they are still exposed to data breaches if they do not carry out the necessary verification.

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What Is Corporate Data Backup?

Before looking at the importance of backing up data, it is critical to define corporate data backup. Corporate or company data backup is the process of creating copies of critical data, such as that in QuickBooks, for use when the original data gets corrupted, lost, or deleted. Using the backup copy, you can recover your data in its entirety and continue with business uninterrupted.

But do you know how to back up files? Conventional corporate data backup involves making several copies of a file and keeping one onsite and others offsite. Offsite files could be kept on small diskettes, compact disks, external hard drives, or flash disks. If the onsite copy gets damaged, the IT department uses the offsite copy to enable complete recovery and restoration.

You can still use conventional business file backup methods. However, with advancements in technology, you can now backup your data remotely on the cloud using solutions such as Qbox, that allow you to work on QuickBooks remotely. The data remains secure and can easily be recovered if your entire site or facility gets compromised.

How to Back Up Files Correctly

Now an explanation on how to back up files before addressing the importance of backing up data. QuickBooks users can easily back up their files to the cloud. In the process, they will effectively back up their data. However, the main QBW file remains stored somewhere on the computer. Therefore, it is vulnerable to hacking and other data breaches.

That calls for a different kind of business data backup. In QuickBooks, the verification function is activated as soon as a user selects and chooses to back up files. Verification involves cleanup of the file, resetting the log file (TLG), removing deleted transactions, and identifying conflicts that require resolution to stabilize the file. Regular verification ensures that the file does not get corrupted.

Users can evaluate whether a backup file has undergone verification by checking the size of the related TLG file. Once backup files have undergone verification, the TLG file shrinks to nearly 300 KB. Corporate data backup is necessary to prevent the TLG file from growing too large and bigger than the QBW file.

How should you back up a file? Qbox business data backup has a simple synchronization process that evaluates both the QBW and the corresponding TLG. Thus, Company data backup on Qbox is in the cloud with an automatic reminder for verification if the TLG goes beyond a certain size.

Additionally, if a file gets corrupted, there is the option of rolling it back to any of the previous ten versions by making a few clicks. This risk-free form of corporate data protection ensures the continuity of business whenever there are mishaps.

Benefits of Data Backup in Business

Having considered how files backup in QuickBooks and related third-party solutions like Qbox, it is logical to take the discussion on corporate data backup a little further. What is the importance of data backup and recovery? Here are the reasons accountancy firms should treat small business file backup with the seriousness it deserves:

Learn the importance of backing up data for accountants.

1. Protection Against Cyber Attacks

Why is backing up data important? With the increase in cases of cyber-attacks, having your data backed up is a must. It would be much easier for you to recover and restore operations if your data is backed up somewhere safe. Hackers can compromise or use ransomware to encrypt your data all they want. If you have a clean copy stored in the cloud, you can safely repair the file without falling prey to cyber criminals.

2. Saving Money

What is the importance of backing up data? Once you lose data, it could be very difficult to recover it. In most cases, you might have to reconstruct the data from scratch, which is costly. For the files backed up in QuickBooks, users should be careful not to forget the verification process. The Verify Data function identifies errors in data files and keeps them in a log file. 

Many desktop QuickBooks users do not know how to back up files. If they fail to verify their data, the log file grows too large due to accumulated errors. Eventually, the system may ask that you rebuild your data. That may involve paying a professional to roll back the file to an earlier version. However, using cloud-based solutions like Qbox, you can receive timely alerts to verify your data, avoid mishaps, and save money.

3. Reducing Outages or Downtime

Why do we need backup files and folders? One of the major advantages of data backup is its ability to reduce service outages or downtime. Users can easily go back to the most recent copies of their data and continue with business operations as if nothing happened. With high-end data backup solutions, you can recover your files quickly and continue with your operations. 

4. Maintaining Trusted Relationships with Customers

You already know how to back up files correctly. But what is the importance of backing up data? Besides preventing losses and reducing downtime, it also helps maintain good relationships with customers. 

Imagine a situation where your data is compromised for hours. Your customers try to get services, but they cannot. Consequently, they decide to seek services from a more reliable accountancy firm. 

But do you know how to back up files correctly? Having a well-designed backup strategy can prevent that. Besides showing how seriously you take data security; it enables customers to trust you. Thus, they have no reason to seek services elsewhere.

5. Maintaining a Positive Brand Identity

What is the importance of backing up data, especially concerning brand identity? A lot. Unfortunately, many businesses do not know how to back up files correctly. That is because they have not made a connection between data loss and the loss of customer trust. 

A major importance of backing up data is to avoid the reputation of being a careless company that allows data loss. When customers lose trust in your business, you won’t sell as much as you did before. Also, potential employees might find it difficult to join your business for fear of being associated with you. In the end, your business will suffer in terms of productivity.

The Bottom Line

The importance of backing up data is as clear as night and day. But before you can enjoy that, you should first know how to back up files correctly. To take advantage of the available cloud-based data backup solutions, you should use tools such as Qbox. This is a cloud-based SaaS solution that lets you use QuickBooks remotely and not just on your desktop. As you use QuickBooks, you can back up your files using this tool. If at any time you forget to back up the files, Qbox will remind you.

As part of the importance of backing up data, you will enjoy assured protection against cyber-attacks and reduced outages of downtime. In the long run, it should be easier for you to keep the trust of your customers. As they continue to patronize your products, you will improve your sales and make more profits. So, what are you waiting for? Sign up for Qbox today and get the first 30 days free of charge.

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