• Legal Escrow & Arbitration Services Ltd.

    Escrow news

How software security can save your business

Shutting down shop for Christmas? If you are an eCommerce business owner then this is highly unlikely. Christmas Eve and Boxing Day continue to be some of the most popular retail days in Britain, which means that your business software needs to keep working all year round. Here we look at the top risks to your business continuity and how software security can help you this Christmas.

Software security

How secure is your software? Cyberattacks are something that both personal and professional individuals must be aware of in the digital age. Disturbingly, 43% of cyberattacks target small businesses, and 60% of those attacked go out of business. Hackers are continually devising viruses that infiltrate and paralyse systems, software and services across the globe, purely to cause chaos. When better to create utter chaos than at Christmas? Don’t leave your software security to chance, invest in robust virus protection and cyber security systems that proactively detect and prevent threats to your business.

Investment provision

Start up and established companies alike rely upon investment capital to get off the ground or grow to the next level. Yet, relationships can go sour, circumstances can change and investments may or may not continue. If the funding for your company is pulled, can you continue operating? Chances are the answer is no, therefore it is vital that businesses ringfence money to soften the blow in the short term should this occur. Another point to consider is how much time your ringfenced money buys you until a new investor is found. Finally, your own investment in software access protection is key to maintaining business continuity.

Software access

SaaS businesses rely upon the software developer and/or host to provide access to their cloud-based software. The beauty of this is low overheads and easy updates, but the downside is being at the mercy of the provider in terms of accessing the software. The biggest threat to your business when it comes to maintaining access to your SaaS is if the provider themselves actually go out of business.

The best way to avoid your business following suit would be to implement SaaS Escrow in your business plan. AccessAssure independently monitors your software provider’s financial position, triggering a cascade of events should anomalies arise. This ensures your cloud-based software is accessible for at least three months of business continuity. Want to know more? Call LE&AS today on 0800 456 1115.

Share it now!