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“We Never Even Considered It!”

Published on 10/02/2020

Do you understand the potential risks of third party developed, cloud based applications? 

Last week we shared a piece of content discussing some of the dangers of becoming reliant on unprotected third party applications and within minutes of sharing it one customer was already on the phone to us. 

“We Never Even Considered It!” 

The customer in question had recently upgraded to a third party hosted CRM and didn’t realise the dangers of storing all of their vital client information on a hosted platform with no knowledge of if, how often, or where their data was backed up and no contingency plan for if the system failed. Unfortunately, this is a risk that thousands of businesses never consider. 

Think about the business applications you use on a regular basis, what would happen to your business if? 

Your vendor went into administration – Would you still have full access to your application? Would you still be able to access your valuable data and extract it if not? 

Backups of your data were either not created or inaccessible – If you’re working with an external hosting provider, it’s the vendors responsibility to create backups and ensure the security of your data. However, this isn’t their top priority and if they were no longer able to support your application it is unlikely that you would be granted access to these backups.

The IP of your application was transferred – Should a new provider take over, the fastest way for them to recoup their investment is increase the license fee to the customers who rely on the application. However, If you have invested significant time and resources into procuring and implementing a particular application, you’ll be reluctant to go through the process again if your vendor sells their IP to another provider. 

Thankfully there is a solution, we advised the customer that a SaaS Escrow agreement would be the best way to protect the continuity of their system and their valuable data. By setting up a SaaS Escrow agreement with SES you can protect your business from these risks.

Our SaaS Escrow agreements, coupled with Remote Code Validation and Simulated Release ensure that in the event your vendor is unable to support your application, it can be swiftly and accurately redeployed by you or a third party of your choice. 

SaaS Escrow agreements from SES include scalable storage starting at 100gb included as standard, enabling your developers to perform backups of your application data as often as it changes (daily, weekly, monthly etc) ensuring you always have access to the most current version of your applications data. 

By invoking the agreement, SaaS Escrow can also protect you against changes to your license contract brought about by a transfer of IP. 

If you are using SaaS applications within your business and haven’t taken the necessary steps to protect them, or would like to find out more about protecting them with SaaS Escrow, please get in touch to speak to one of our specialists. 

© Financechain Limited trading as SES and ses-escrow.co.uk, 2019. Unauthorised use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Financechain Limited trading as SES and ses-escrow.co.uk, with appropriate and specific direction to the original content.

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