You can schedule P2V task to convert P2V as specified and use backup solution to do an incremental backup for those physical boxes, when needed to recover, just power up the DR VMs and then restore those incremental backups. VMware Converter is free with enterprise license why pay for PowerConvert, even though its doing great job but very pricey as mentioned.

1. Create a DR VMware hosts/clusters.

2. Stand up DR SAN environment.

3. P2V all your physicals servers to DR SAN

4. Create backup plan for incremental or anything you want.

5. Replicate all that backup data via SAN replication and restore that data when recovery strike.

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Regards,

Stefan Nguyen

iGeek Systems Inc.

VMware, Citrix, Microsoft Consultant