Cloud computing has revolutionized the way we do business, and one development that is taking the technology world by storm is Software as a Service (SaaS). Rather than purchase and receive software, businesses are now opting to buy the software as a service hosted by the provider and accessed via a link or application.
This is a great option for new businesses who may find accessing SaaS cheaper than the traditional methods of purchasing software, but this form of cloud computing is only as good as its cloud host and let’s face it, computers have been known to let us down. So what happens if there is an interruption with your SaaS provider and your business critical software goes down? Companies would ordinarily invest in software escrow for straight forward purchases, as a form of insurance against the inevitable, but how do you protect and preserve a virtual service that you do not physically own?
Moreover, if your provider’s platform is no longer functioning whether that is permanent or temporary, businesses can stand to lose access not only to their software but all their data, so how can this too be protected? In an uncertain financial climate, businesses have to take more and more calculated risks to get ahead, but one area that should never be left to chance is the access and operation of your business critical software. Traditionally, the concept behind software escrow is to place the business critical software’s source code with a trusted third party, and release it in the event of the provider no longer being able to support the software. Fortunately this also applies to an extent with companies who have invested in SaaS, the only difference being that in the event of an interrupted service or cessation of support, rather than receiving the source code the client will be redirected to a standby site or software platform so that their operations continue seamlessly.
SaaS data can even be captured and transferred instantly so you don’t need to worry about chasing clients or searching for lost orders. In a digital era where cloud computing looks set to take Centre stage for many years to come, it is vital that SaaS and cloud computing escrow is invested in and developed further to ensure the long term protection for both software provider and end user.
Software Escrow enables developers to protect their assets and the end users to protect their investment, giving both parties a level of cover in case a service update goes awry or a company goes bust. If you have business critical software makes sure that you take the time to secure software escrow to preserve your business operations today and allow you peace of mind for tomorrow.
