New Veritas research shows 99% of enterprises are overspending on public cloud

New Veritas research shows 99% of enterprises are overspending on public cloud

Research commissioned by Veritas Technologies, a leader in multi-cloud data management, has revealed that the vast majority of enterprises are failing to stay within their cloud budgets. In fact, 99% of respondents in the UAE have reported that their organisation has incurred higher costs than originally anticipated when using a public cloud service provider (CSP) and are overspending by an average of 45%.

Veritas’ latest report, ‘Securing Your Enterprise in a Multi-Cloud Environment Research’, which surveyed 1,500 technology and IT decision-makers across 12 countries, showed that enterprises clearly see value in the public cloud, as 100% of respondents globally agreed that using CSPs and their tools provided benefits to the organisation, such as flexibility, scalability and mobility.

However, many organisations are planning their cloud budgets without fully understanding what they are ultimately going to need to pay for. For example, most (97%) of respondents in the UAE believed that the CSP would be responsible for protecting some of their assets in the cloud. This is rarely the case as most CSPs make it very clear that, while they are on the line to ensure the resiliency *of* the cloud, their customers shoulder the responsibility for the data and applications *in* the cloud.

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