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How Has The COVID 19 Pandemic Changed Your Approach To Business Continuity?

Published on 02/09/2021

As the world begins to reopen and we move on from the COVID 19 pandemic towards a “new normal” how has your approach to business continuity changed?

For many organisations, the COVID 19 pandemic has highlighted the true dangers of not preparing for supply chain risk. The majority of organisations rely on business critical applications developed by third parties to perform business critical tasks and automate processes, but many never considered what happens when the suppliers of those applications are no longer able to support them.

As key development staff became furloughed and supporting businesses were forced to close their doors, ensuring software assets were protected became a key task for many organisations. This ensured that they could retain access to the knowledge, source code, data and supporting materials to redeploy their critical applications in the event of a release.

That was and still is the situation being experienced by companies up and down the UK as we move on from this unprecedented period of uncertainty. Unfortunately, no matter the industry, size, market share or even media coverage, no organisation is immune to market forces. All companies can be susceptible.

How Has Your Approach To Business Continuity Changed?

As we begin to move on from the pandemic, the approach taken to protect business critical assets against unforeseen circumstances has changed for many organisations.

Awareness has been raised about the consequences a loss of key individuals or development staff can have on the continuity of critical applications and many organisations are turning to Software Escrow protections to ensure their business continuity.

Software Escrow is an intelligent way of protecting your business critical software assets against circumstances that are out of your control. No matter how prepared you are to face the challenges which lie ahead, for many organisations, third party suppliers will always play a vital role in your ongoing operations yet their external nature and the lack of control you have over them makes them a weak link.

Software Escrow Agreements enable you to protect your software assets from various threats such as vendor failure or breaches of your license agreement. It involves an independent 3rd party holding and testing a copy of your applications source code (and data in the event of hosted applications) to ensure it can be swiftly and accurately redeployed into a working application should a pre-agreed trigger event occur.

The COVID 19 pandemic has opened our eyes to the importance of maintaining robust business continuity plans to protect against unforeseen circumstances Software Escrow agreements provide you with the confidence that whatever happens elsewhere, the continuity of your business is protected. To discuss your business continuity requirements in more detail, please click here to speak to one of our specialists.

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