Veritas Technologies' research, which includes Brazil, reveals that companies are exceeding their allocated cloud budgets by an average of 43%, with unplanned data backup and recovery as the leading cause.
A global survey commissioned by Veritas Technologies, a leader in multi-cloud data management, revealed that the vast majority of companies cannot stay within their cloud budgets. In fact, 94% of respondents reported that their organization incurred higher costs than originally anticipated when using a public cloud service provider (CSP) and are spending 43% more on average.
The pushing Securing your business in a multi-cloud environment, which surveyed 1,500 technology and IT decision makers in 12 countries, including Brazil, showed that companies clearly see value in the public cloud, as 100% of respondents agreed that the use of CSPs and their tools brought benefits to the organization, such as flexibility, scalability and mobility.
However, many organizations are planning their cloud budgets without fully understanding what they will have to pay. For example, nearly all (99%) respondents believed that the CSP would be responsible for securing some of their cloud assets. This rarely happens, as most CSPs make it very clear that while they are in line to ensure cloud resiliency, their customers assume responsibility for data and applications in the cloud.
This is an important distinction, as the survey highlighted that data in the cloud is a highly attractive target for cybercriminals — 89% of respondents told Veritas that their organizations have experienced a ransomware attack in their cloud environments.
The misunderstanding surrounding the cloud liability model means that many companies have not considered the third-party data protection requirement and are leaving their critical data vulnerable to these ransomware attacks – and other incidents of data loss. More than half (53%) of organizations lost data as a result of relying solely on the backup tools built into the solutions by their CSPs. And 76% of respondents agreed that CSPs' current offerings fall short of their organizations' security needs.
As a result, it is perhaps not surprising that the survey showed that unforeseen data protection needs were the most common source of unexpected cloud costs, with 40% citing backup and recovery as the top area of overspending.
“Our research highlights some of the tremendous benefits organizations are realizing from the cloud, but it also highlights the need for a better understanding of what buyers are actually buying from their CSPs. No one is going to budget for something they think they are getting for free. But by the time IT leaders realize there's something they overlooked, it's often the case that they've already lost data. Therefore, if they want to avoid asking for additional budget to cover overspending on a project, it is essential to consider data protection and take back control from the beginning”, explains Gustavo Leite, Vice President for Latin America at Veritas.
about the search
Veritas Technology engaged independent market research specialist VansonBourne to survey the technology and IT decision makers on whom this research is based. VansonBourne surveyed 1,500 technology and IT decision makers in Australia, Brazil, China, France, Germany, India, Japan, Singapore, South Korea, UAE, UK and US in August and September 2022. organizations with at least 1,000 employees were interviewed.
EN 
PT 
