Every company relies on software, and it is a full-time requirement to keep all systems running smoothly from day to day.
The chances are that your company also has to keep track of multiple licenses for every piece of proprietary software that you have, ranging from basic document creation to the software that runs your inventories and client databases.
This is common for most businesses. Software use is based around Software as a Service (SaaS), meaning that the software creators lease out their product rather than handing it over wholesale. However, your company is effectively held hostage to the software systems that you use.
In-house repairs only go so far and without access to the software outright, IT teams can do little in the event of a serious malfunction. This can be a disaster that affects every aspect of your company’s work. Lost information; being left locked out of important files and unable to deliver basic services for clients can be disastrous.
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The agency will hold the software in question in a secure account, where neither the software’s creators nor the user can access it. This provides a simple but effective motivation for the software company to provide a product that meets the standards it has stated. The agency will not hand over software that is not fit for purpose.
In the event of a dispute between the provider and the user, the agency cuts out the costly and lengthy legal process that can result in trying to establish who, if anyone, violated the terms of an SaaS agreement.
The escrow agency has the authority to hand over the contents of the account in question to the user to do with as they wish if it deems the provider has broken the agreement. At this point everything to do with the software in question is handed over to the user from the account, giving in-house IT operators the tools they need to carry out effective repairs.
For more information on how software escrow can help your business, click here.