WHAT IS SOFTWARE ESCROW?

WHAT IS SOFTWARE ESCROW?

Software escrow (or source code escrow) is the safekeeping (vaulting and verification) of the developer version of your business-critical software by an independent and neutral escrow specialist.

It is the gold standard backup.

Your business is dependent on software products whether installed in-house, hosted remotely, cloud-based or SaaS. Software products are never bug free or complete.

If your software supplier fails, without access to the source code of the software you will not be able to update or maintain your product.

Stakeholders will demand:
How do you know that the business could continue?
How do you know that the business could continue?
Are vital revenue streams at risk?
Is our reputation at risk?

In South Africa, King Governance protocols direct that the, “availability of the functioning of the system, possession of the system, authenticity of system information and the assurance that the system is usable and useful” must be safeguarded.

Software escrow addresses this business risk as it safeguards the continuity of your day-to-day business operations.

And your business case for this is excellent considering:
the value of the business processes and revenue streams that are dependent upon the software concerned;
the value of the business processes and revenue streams that are dependent upon the software concerned;
the value of the investments that have been made in the software product, implementation project, training, support, and maintenance etc;
the magnitude of reputational, consequential and other damage in the event of business disruption due to mission-critical IT systems failure.

HOW DOES SOFTWARE ESCROW WORK?

The source code of a business application is deposited with an independent and neutral escrow service provider according to the terms set out in an escrow agreement signed between the software supplier, the business end user and the escrow service provider. The escrow agreement will specify the exact legal terms upon which:
1. the  software supplier is obliged to deposit the source code,
2. the business end user may call for the release of the source code, and
3. the testing of the software product required to verify the integrity of the source code deposit.

the testing of the software product required to verify the integrity of the source code deposit.

ACTION YOU CAN TAKE

Identify your mission-critical software applications. (Most businesses depend upon multiple software products for day to day operations)
Identify your mission-critical software applications. (Most businesses depend upon multiple software products for day to day operations).
Update your risk register, scoring software applications according to the risk they represent to the business
Establish a uniform risk profile for all suppliers of businesses critical

Our software end to end software escrow services address all of the above for you.

GOOD
GOVERNANCE

COBIT®, Val IT™ and COSO

ESCROW FOR BUSINESS

ESCROW FOR DEVELOPERS

ESCROW, THE LIFE VEST UNDER YOUR SEAT

For a free advisory service and for pricing, please make contact here

Do NOT follow this link or you will be banned from the site!