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G-Cloud III – LE&AS successful again

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LE&AS Limited is delighted to announce that they have again been successful in gaining approved supplier status on the G-Cloud III Framework agreement. An approved supplier since its inception LE&AS has been a keen support of G-Cloud and has launched a “new breed” SaaS escrow product that has been specifically designed to protect all organisations that are looking to take advantage of Cloud based services whilst ensuring they continue to protect business critical software and data.

Managing the risks involved with the Cloud

New SaaS escrow product saves on backup costs as well as gives legal assurance for data access at all times – even if the worst does happen.

A new SaaS escrow product, launched by LE&AS, will save money and reduce risks to business-as-usual even if the worst doesn’t happen.

IT escrow specialists UK-based LE&AS, has launched AccessAssure to protect companies from the loss of access to data and services if their SaaS and cloud service hosting or software providers go into administration.

The service monitors financial performance of a provider as well as offering legal protection against administration. Constant monitoring allows companies to save thousands by removing the need for additional, now unnecessary data backups where there is no risk to disruption.

Jim Mills, commercial director, LE&AS said: “No-one imagined it could ever happen. However, last year 2E2 slipped into administration which had a catastrophic effect on large and small organisations. For some companies it was life-changing. Organisations had problems accessing their data or had to pay sky-rocketing hosting charges of £4,000 to £40,000 a week just to maintain access to their own data.”

LE&AS said its monitoring service highlighted 2E2’s problems back in July 2012 and if 2E2 had have been under AccessAssure , customers could have avoided high costs of maintaining access to data, and could have mitigated the risks presented by the company’s administration.

How it works
Customers of hosting providers and SaaS software businesses, can take out escrow cover for as little as £80 per month.

In return LE&AS gives legal assurance that your data and any hosted software will remain accessible even if a company goes into administration.

The belt and braces approach to escrow though is backed by a monitoring service managed by LE&AS which raises a flag to customers if a provider becomes financially vulnerable. This allows companies enough time to take steps to back up data and legally forces the provider to do the same.

Companies can start to plan cloud risks into a manageable strategy whilst keeping a lid on unexpected legal, backup/storage and risk mitigation plans.

The RisksThe Solution – Access Assure
Reputation damage- and destroys stock prices and future value of the businessAdvanced warning of high risks
High cost of accessing data in the short termReduce back-up costs by up to 90%
Loss of new business, customers and damage to long term customer valueGives customers reassurance, protection and a cast-iron guarantee
High cost of rectifying the problemsLow cost
Increase in complaints handlingSimple to organise, easy to manage
Customers are denied access to data and they’re coming after you for damagesActive continuous monitoring provides built-in risk management and disaster escalation
Directors, staff and their families threatened with non-payment of salaries Grow sales by offering extra protection for customers
Legal costs mount fastMinimises legal costs
Overpowers internal resources Gives you a competitive advantage
Damages future funding and new investment Protects customers’ access to business data

About LE&AS

Legal Escrow and Arbitration Services Limited (LE&AS) is the second largest escrow provider in the UK. We provide software contract negotiations and legal expertise for over 200 local and central government organisations, as well as FTSE 100 companies. With over 20 years of experience providing escrow, LE&AS has now pioneered a new breed of escrow agreement, SaaS escrow, specifically designed to give SaaS users piece of mind.

For additional information, please contact-

Jim Mills, Commercial Director LE&AS
Tel: 0800 456 1115

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