Thanks for the feedback. I think I was looking way down the road, perhaps our current eQMS provider went out of business, I wanted to be sure I had a current backup available. Then I was thinking further if I should store this backup offsite.
It seems reasonable to consider offsite storage. For example,
Amazon Glacier is low-cost and is intended for very infrequent need to access backups.
You might need to work with your eQMS provider to see if these backups can be automated to send to cloud storage. Some might only be manually initiated and/or only download to your PC.
In our case, our QMS is onsite and backed up locally and on offsite backups. We don't have the bandwidth to use the cloud for backups. But we do use Amazon S3 for offsite BCP information.
A concern about cloud storage like S3, OneDrive, etc. is that if they are misconfigured then they can become publicly visible, which could be a nightmare. So, managing access permissions needs to be assigned to only a very responsible small group of people.
Also...if you work with ITAR-related information, or other information considered sensitive by a government, etc., you may need to be careful about the cloud host's ownership as well as the hosting servers locations.