Around four in five large businesses in the UK are losing data at least once every month, new research suggests.

A study by IT management company CA surveyed 250 senior IT professionals and found that 79 per cent said their organisations misplace important information at least once a month.

According to data management software firm Qas, this may be partly due to the fact that 68 per cent of managers feel that their IT budgets are insufficient, which may mean that corners are being cut when it comes to data authentication and security measures.

The findings also reveal that network downtime affects some 24 per cent of large businesses, while application crashes and slow programmes happen in 30 per cent and 27 per cent of firms respectively.

The research comes following a recent announcement that the Information Commissioner’s Office has been given powers to impose hefty fines on companies that recklessly fail to comply with data protection laws and put customer data at risk in the process.