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EU Brexit could cost UK firms £1.6 million each

From IT Pro

"Britain leaving the EU could land firms with bills of up to £1.6 million moving data from European data centres.

According to a survey of IT decision makers, conducted in September by Vanson Bourne, half of the firms said they are yet to start making contingency plans while only 10% are fully prepared to move their data to UK soil, if necessary. 96% of organisations also admitted it would cost them a significant amount to move their data to a different location if needs be, with the average cost being estimated at over £1.6 million, taking an average of three months to complete the transition.

The researcher was sponsored by VMware and also found that more than a third (34%) of UK businesses’ data is currently located outside of the country while three-quarters (76%) have at least some business critical data residing abroad. Almost seven in 10 businesses (69%) are concerned they may need to move their data in line with any regulatory, compliance or customer requirements.

Around 95% of respondents use some form of cloud services to host their data (including 37% using public cloud and 34% using hybrid cloud). Over two-thirds (70%) are concerned they would need to move their data to a different cloud provider who could host their data in the appropriate location if the UK left the EU.”

Read more at IT Pro

NCC Weekly News Update 8 December 2015 



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