Firms spending more than $100,000 for additional cloud security features

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According to a survey conducted by B2B ratings and reviews offering company Clutch, companies nowadays prefer cloud platforms to store their critical business data. But at the same time, the survey revealed that companies are also spending more than $100,000 USD to protect their data in the cloud with extra security features.

Clutch 2017 Annual Cloud Computing Survey reveals that nearly 70% of businesses now prefer cloud instead of legacy systems for storing data. At the same time, these businesses are also showing interest in investing heavily in keeping their data on the cloud safe and secure from hackers and other related cyber threats.

The survey revealed that half of the companies have so far invested more than $100,000 on an annual note for additional cloud security features. This means firms are ready to invest heavily on security features which cloud firms aren’t offering.

Perhaps, security risks that are out of their cloud provider’s control are compelling the companies to do so.

When it comes to the application level security which includes user access, password sharing, and other individual interactions, it’s obvious that the company and employees have a bigger role to play.

As firms are recognizing that application level security needs to be done by the user and not by the vendor, their enthusiasm is making them invest more on cloud security features.

In another discovery made during the survey, it was found that nearly 1 in every 4 businesses that are dependant on cloud computing are using IoT services.

So, Clutch advises these companies to protect themselves from security threats and prevent issues by following both mandatory and voluntary security guidelines by implementing additional security features, such as extra encryption.

The survey also exposed the fact that only 65% or businesses are following the security guidelines released by the Cloud Security Alliance and out of them only 60% are using encryption as an additional security tool.

And the only advice which Clutch wants to give to these companies is to wake up before it is too late and keep their data on cloud platforms safe and secure by going for extra cloud security features available for a minimal premium.

Note- Clutch 2017 Annual Cloud Computing Survey includes responses from more than 283 IT professionals from businesses across the United States that use cloud computing.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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