Businesses prefer storing data in the cloud but plan to invest in extra security precautions, according to the second report in Clutch's “Annual Cloud Computing Survey.” Clutch (https://clutch.co) is a B2B ratings and reviews firm.

Nearly 70% of businesses on the cloud prefer storing data in the cloud instead of on a legacy system, and these businesses are willing to invest heavily in keeping their cloud's data secure. In fact, over half of companies surveyed spend more than $100,000 annually on additional cloud security features.

One reason for the high investment in cloud security is companies' greater awareness of the security risks that are out of their cloud provider's control, according to industry experts, according to Clutch. When it comes to application-level security, including user access, password sharing, and other individual interactions, the company and its employees shoulder the responsibility for security.

Companies can protect themselves from security threats and prevent issues by following both mandatory and voluntary security guidelines and implementing additional security features, such as extra encryption.

Currently, 65% of businesses follow the security guidelines released by the Cloud Security Alliance, and 64% of businesses use encryption as an additional security tool, according to the survey. The survey includes responses from 283 IT professionals at businesses across the U.S. that use cloud computing.