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Why SaaS Escrow is like Insurance for Cloud-Based Software

You insure the most important things in your life; your home, your car, your pets to name a few. Why do we do this? Protecting a substantial investment, to ease the cost of repair or replacement, to avoid expensive bills, because you care about them! So why wouldn’t you protect your business and your business critical software? If it’s essential to your work, why run the risk that it might not be there?

Imagine coming into work and not being able to access a key piece of software because the software provider has gone into administration. Or, maybe the hosting company has become insolvent, meaning their service has been switched off. What would this mean for you and your company? At best   it leads to a logistical nightmare, at worst it could be the end of your business as you know it. You need to try and find a work-around, while still maintaining all current operations. Do you have another system to fall back on, can you carry on running your business manually. Do you have all that data, client information, contact details, account details, presentations, meeting and product information. How much time and at what cost will it be to reinstate all that information?

But, there is an alternative to this situation. Instead of waiting and hoping that your software provider and hosting company remain viable businesses, you can protect yourself with a SaaS escrow agreement.

How can SaaS escrow help to protect your cloud-based software?

Having a SaaS escrow agreement in place means that you are protected against this ‘blank-screen’ syndrome. It gives you peace of mind that you have continued access to your software. A SaaS Escrow agreement should be a part of your business continuity planning because it is the only affordable way that you can make sure you have access to software you do not own.

How does SaaS escrow work?

Your software provider and or hosting company will tell you that you are protected and that they have a comprehensive “Disaster Recovery – DR” policy. What they won’t tell you is what happens if they cease trading. Ask the question? SaaS escrow agreements, will protect your software and your data. Remember you have neither on site. However many SaaS escrow agreements will require you to back up data with another provider. An additional and costly back-up service on top of already costly back-up services required for Disaster Recovery purposes. Access Assure is the only SaaS escrow agreement that is a, pro-active agreement, independently monitoring your software and hosting providers and warning you if critical “trigger points” are reached. An Access Assure agreement in place means you’ll be forewarned of potential problems and you can make plans accordingly.

Should anything happen to your software provider or hosting company, you will receive notification and contractual recourse will be available, ensuring you do not need to make costly additional back-ups, until you actually need them. This is certainly better than walking into work to find your business critical software no longer works or having to pay for expensive back-ups, just in case anything goes wrong. Remember this is your business, you have worked hard to get where you are today. You have invested and re-invested your hard earned money. Your staff work hard and rely on their jobs for their families, to keep their homes, their cars and their pets. Insuring your still around in the future is more than business critical – it is essential!

To find out how you can protect yourself and put an AccessAssure agreement in place, please contact us.

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