Information Technology and the team behind it is more crucial to business than ever before. The old way of doing things has almost completely disappeared and everything is going digital. There are more apps, more mobile users, basically more of everything related to technology and data.
You know your business better than anyone else. How much money will you lose due to system downtime? What is your cost to recovery? How much is your data worth? I think the answer here is simple; pay the ransom if it is going to seriously affect your business.