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What to consider when looking for an SaaS Escrow Provider

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Software as a Service (SaaS) is key to the daily function of businesses right across the world. So, it makes perfect sense to protect access to it at all costs. SaaS Escrow offers the most effective way to protect continuity of service, but what do you need to be thinking about when looking for an SaaS escrow provider? Here are the top factors you should consider when looking for escrow providers to maintain access to your business-critical software.

1. Off the shelf vs Bespoke Software

Bespoke SaaS can be considerably more complicated, and arguably more valuable to a business because it is tailored to their individual needs. ‘Off the shelf’ software services are more generic, and therefore potentially easier to replicate or replace. Either way, if the SaaS is business-critical, then both can benefit from SaaS escrow. The actual escrow agreement itself may differ greatly between the two depending on the level of service that you need to uphold should your host or software provider cease trading.

 2. Software Development and the SaaS Escrow Provider

What do you want to do with your software?  This is a very important question because the level of expert input and development you require will affect the software escrow you need. Regular software escrow agreements clearly define your rights to modify or update your software. But if you are accessing SaaS you are technically at the mercy of your providers, should they go out of business. To ensure that you don’t follow suit with zero software provision, invest in a proactive SaaS escrow agreement like Access Assure. This agreement will monitor your provider’s financial stability and alert you to any potential risk that could disrupt your business software long term.

3. Who owns what

Intellectual Property Rights (IPR) is an important factor to consider, especially with bespoke SaaS software. Although the business software is tailored to your company, it is being maintained and hosted by third parties who are, in effect, in control and ownership of this software. Unlike software escrow, an SaaS escrow provider is unable to release the source code for you to develop and host your software elsewhere. But some providers are able to uphold access by temporarily hosting your services until you can review it.

4. Show me the money

Any entrepreneur knows that you must balance the books right from the off. It is all too easy to blow your budget on stock and marketing strategies, but you also need to invest in SaaS protection. SaaS escrow offers you protection in the event that your provider fails to perform software maintenance or updates that are critical to the software function, or in the event of the provider going into administration. The cost of an SaaS escrow provider will heavily depend upon the services you require such as software hosting and software development. However, the implementation of such a plan will give you peace of mind that your business services will continue and your clients are happy.

For more information contact our team today on 0800 456 1115 or visit www.leaas.co.uk.

 

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