Cloud Backup – Why you must also have a local backup at all times

I hear from many folks that have come to trust and love their cloud backup service provider that they don’t feel they need a local backup anymore.  They have bought in to the myth that everything gets easier with cloud services and they blindly put their entire business on the line by trusting some company they know nothing about.  They sign a contract that gives them no recourse if everyone signs up and then loses all their data when they need it.