Royalty software is a database application that resides on a hard drive. According to BackBlaze; an online backup service, Seagate drives have about a 3.5% annual failure rate and Western Digital Drives have a 6.5% annual failure rate. Gartner reported that the failure rate for laptops averages about 22% a year. The corporate desktop 3 year failure rate averages is 15% (about 5% a year).
If your hard drive fails, it would take a lot of time and work to recreate your royalty software database. The larger your database the more work it would take to recreate it.
The 3-2-1 rule is an industry best practice for data backups. This rule states that you should have three (3) copies of your data backed up on two (2) different types of storage, and that at least one (1) copy of the data is stored offsite.
We recommend that our small business clients backup their royalty files to two locations. One location should be an online backup service. The second location can be an external hard drive or a second online backup service. If finances permit, we recommend using a 2nd online backup service as a third backup location.
The royalty manager and another manager should maintain a document that describes how to retrieve the data from their backup devices. Every quarter these two managers should practice restoring the data file. This ensures that two employees have the skills to access and restore your royalty file(s).
Online Backup Service
An online backup service can backup your database to an offsite location for about $60 to $100 a year.
|Online Backup Service||Annual Cost||Comments|
|BackBlaze||$50/year||Whole drive backup, unlimited storage|
|Carbonite||$50/year||File level backup, unlimited storage|
|SOS Online||$50/year||File level backup, fast backups|
External Hard Drive
An external hard drive connects to your workstation via a USB cable. Restoring terabytes of data from an external drive is faster than restoring the same data from an online backup service.
Backup software copies selected files automatically to your external hard drive.
A Seagate 1TB external drive costs as little as $60.
Our larger royalty software clients in coastal areas of Florida and the Gulf Coast often use ioSafe fire and waterproof drives to store their business files. These drives are designed to protect data from 72 hours of full immersion in ten feet of fresh or salt water. An ioSafe drive will cost about $350 to $450.
Recommended backup software:
Genie Timeline Home. According to PC Magazine: “Genie Timeline Home is easy-to-use, capable backup software that lets you get back to previous file versions and folders.” We like Genie Timeline because it stores files in their native file format. To restore a file you can use the Timeline software or copy and paste the file to the desired location.
On Demand Backups
EasyRoyalties does not have an undo button. If you modify or delete a record you cannot undo those changes. Prior to performing actions that modify or delete a lot of records you should create a backup of your data file. Our royalty software can create a backup with the backup date appended to the end of the file name. To do this:
- Step 1. Go to the Data & functions menu
- Step 2. Select Database Management on the secondary menu
- Step 3. Select Backup Database.
In Options & settings > Database management > Backup reminders you can activate or deactivate backup reminders. If activated the user is reminded to backup the royalty software data file upon login to the database or after a specified number of days.
In 2017 a client with an Enhanced Support agreement contacted us on a Saturday. Royalties were due next week and their computer crashed. Our staff walked them through installing the royalty software on a new computer and restoring a backup copy of their data from their online backup service – Carbonite. All of their data was recovered and the royalty run was completed on schedule.