We’ve talked at length recently about Software as a Service or SaaS. As we see it SaaS is becoming an increasingly popular way for you to access your business critical applications as it doesn’t rely on a hefty install and you can access the applications at any time on any device.
Look around your office, how many of the applications you use on a daily basis are cloud based?
Stock control systems?
Having these applications hosted in the cloud rather than installed on your desktop is brilliant for your business because it grants you instant access to all of your critical applications wherever you are in the world and whatever device you have in hand.
But what would happen if the developer had ceased trading and was unable to continue with development and support of the application?
What would you do if you were unable to access your CRM system and lost access to all of your vital customer information?
If you no longer had access to your accounting software, how would you keep track of your company’s finances, pay your suppliers and invoice your customers?
And what about your stock control system, how would you manage stock levels without it?
These are very real realities for businesses who use critical applications which are hosted in the cloud. No business is too big to fail and you won’t get a warning if your software owner is no longer available to support your applications for whatever reason, which could have a catastrophic effect on your organisation.
Thankfully a SaaS agreement can protect your critical applications.
Entering into an Escrow agreement with your software vendor enables you to protect your valuable data. An Escrow agreement allows a third party to hold an test a copy of the source code for your business critical applications, which can be released in the event your software vendor is no longer available to continue with development and support of the application, ensuring the continuity of your business.
If you would like to find out more about protecting your critical business applications with a SaaS agreement, please use the form below to get in touch and one of our specialists will get back to you within one business day.
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