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Usually the security updates and patching of the applications are up to the customer.   Amazon/Google/Azure will take care of their infrastructure, but not your applications.   Unless you then sign up for some outsourced IT group ($$$), you will still need to have an IT group of some sort.   The most I have seen in a legal back-and-forth is an agreement of a customer's data downloaded each night free of charge, for disaster recovery.   Kinda of the opposite of disaster recovery for on premise applications.   Bottom line, you are going to pay one way or another.