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New Breed Escrow

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LEAS recently launched their new breed escrow agreements for SaaS based software solutions. SaaS solutions are well and truly established as a software choice for many Users. But, what has not developed alongside this is a suitable escrow provision that genuinely meets the needs of users committing themselves to this type of software solution.

Jim Mills, Commercial Director for LEAS announced “The key difference of our new breed escrow agreements is that they are designed to be a “proactive” escrow solution rather than the current standard of “reactive” agreements. When using a SaaS based solution you do not have the luxury of time, if your software provider or hosting provider are not there you could find yourself staring at a blank screen. Users are looking at the benefits of SaaS based software, without considering the risks involved. SaaS providers are able to offer “Disaster Recovery” but when challenged on the question of insolvency, there response is “it won’t happen”. A brave statement in the current climate. The key was to offer an affordable solution that supported SaaS Users and Providers to ensure peace of mind and minimise business risk.

Escrow agreements were a considered option for standard software installations, with SaaS based solutions they are a necessity, if you want to protect your critical business software.

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