ESCROW FOR CLOUD

What is cloud escrow? It’s simple! Today, on-premise software is increasingly being replaced with cloud-based and software-as-a-service (SaaS) solutions. Conventional software escrow agreements have also adapted to continue serving and protecting businesses and developers in an environment where neither the software nor the hosting platform is under their direct control. This newer type of escrow is vital for mitigating the operational risks of using cloud-based solutions. In short, it provides business enterprises with bespoke SaaS and cloud software escrow solutions to get mission-critical applications back up and running if a software vendor or hosting platform ceases to function. It also provides developers with access to a “trust account” for safekeeping their source code and ensuring their software users can rely on continuous access.

 

02  Taking advantage of our secure active escrow

Escrow for cloud is an active escrow service. We test each deposit and also implement version control for updates and new releases. In that way, we ensure that the material deposited into the escrow account will be useful when it needs to be retrieved if a release condition arises. This is in contrast to passive escrow accounts, which function more like static vaults, in that the deposited material isn’t tested. If there should be something amiss with the deposited media, the mistake won’t be identified until the material is retrieved, which effectively nullifies the effectiveness of using a SaaS escrow solution for business continuity assurance.

 

03 Attract new clients with cloud escrow

As a SaaS vendor or developer, you don’t need to wait for negotiations with a potential client to commence before you start thinking about implementing a cloud escrow solution. It can be in your best interest to proactively include cloud escrow as part of the proposal you present to potential clients. You should know that large businesses need to adhere to strict good corporate governance codes, which include business continuity planning. Therefore, it stands to reason that you will be a cut above your competitors if you present your software pitch to new clients with a good cloud escrow solution already built-in.

 

04 Escrow for cloud protects businesses and developers

Moving business-critical software to the cloud has many benefits. It reduces infrastructure spending and provides more flexibility and scalability, resulting in increased revenue. But out of sight should not be out of mind. Although your cloud provider promises regular backups and low downtime, you should still plan for the worst. A well-structured cloud escrow agreement provides businesses with the peace of mind that they can restore the functionality of mission-critical software quickly if a cloud hosting provider suffers a catastrophic failure. It also assures the developers that their intellectual property will not be misused when the source code is released from the escrow account.

If you have any questions about escrow for cloud-based services, don’t hesitate to contact the Escrow Europe team today!

GOOD
GOVERNANCE

COBIT®, Val IT™ and COSO

ESCROW FOR BUSINESS

ESCROW FOR DEVELOPERS

ESCROW FOR CLOUD

ESCROW, THE LIFE VEST UNDER YOUR SEAT

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