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Error "e00070002: Not enough memory" on backups

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I am experiencing the above error when doing a backup of one of our servers.

The server is a Windows 2003 x64 server with 16GB of RAM. I am running "Acronis True Image echo server build 8,398"

I am attempting to backup a weekly full with daily incrementals and am getting this error on both. The job backs up all data (as do all of our other backups) to a remote server. This error seems to come and go. I have had this error randomly appear and go away in the past, seemingly for no reason. Currently, I have had this error for several days and cannot seem to get around it.