Like so many businesses across the world, you have moved to Microsoft 365 and it provides powerful functionality and communications. However, you may not be as protected as you need...
M365's power is in its functionality and ease of use. But it is not a data back-up and recovery service. You shouldn't assume your data will be there all the time.
Microsoft only guarantees 90% of your data for 30 days, making it vulnerable to loss, theft, cyber attacks and other threats.
Here are the top three causes of data loss in the cloud (and the top three reasons why you need to back up your M365)