An international market survey finds that compliance with increasingly stringent regulations for cloud service providers (CSPs) - and organizations providing outsourced IT services - particularly in regard to data protection, is becoming more and more difficult. Reputation and client trust are fragile assets, and compliance with industry standards and legal regulations is essential to earn and maintain them. Cloud service providers consider compliance a magical term. On the one hand it's critical to their success, on the other hand it imposes time-consuming burdens on the business. Approximately 60 percent of service providers spend more than 10 percent of their annual IT budget on investments related to IT security compliance. Moreover, almost one out of five spends more than 20 percent of their annual budget on compliance related items, which is well above the industry average.
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