In today’s rapidly evolving digital landscape, understanding and implementing Escrow and Continuity agreements in Software as a Service (SaaS) applications is not just a technical necessity but a strategic imperative for businesses. This blog post will delve into the importance of these concepts, particularly emphasizing their role in ensuring operational resilience and continuity.
What is escrow and why is it vital?
Picture this: the company that provides an online service you use a lot suddenly goes bust or faces a big crisis. You might worry about losing access to their software, right? This is where escrow steps in as a vital safety net.
Think of it like a safety box. Escrow involves depositing the programming code of an application with a legal entity. This entity holds the code securely, ensuring that, in case of any disruptions to the SaaS provider, you can access this code, fix any defects, or continue developing the software yourself.
In the worst-case scenario, you would have to hire a development team who can understand the code, which is costly and time-consuming. To avoid the need for this, Triggre works with a foundation, so you don't have to do it yourself. The foundation becomes the party that has the rights to the software and can develop it for all customers. This way, the source code is kept out of a hypothetical bankruptcy, ensuring it can be developed further without problems.
At Triggre, we also update this 'safety box' with every new version of our software. We do this to keep your work smooth and uninterrupted.
The role of continuity agreements
While escrow secures your access to critical software, continuity agreements ensure the operational aspect of your business applications. These agreements are designed to ensure that, in the event of a service provider's insolvency, you can continue using the application, maintaining your business's functionality.
This concerns specifically the hosting of the application. In case of a bankruptcy, no supplier would get paid, which would mean the hosting provider would pull the plug. And in that case, even if you have the source code with escrow, your application would be down, and you may lose valuable data. To ensure that the hosting provider doesn't pull the plug, you need continuity services. In other words, continuity means that you will pay the foundation for their subscription, and then the foundation would pay the hosting provider who is part of the continuity contract.
This dual-layer of protection – combining escrow with continuity – offers a comprehensive safety mechanism for your business. It's a critical aspect often overlooked in SaaS application management but is essential for long-term operational security.
Escrow and continuity and Triggre: a commitment to customer security
At Triggre, the implementation of escrow is a testament to our commitment to your business's stability. Managed by a separate foundation, our escrow and continuity agreements ensure that, even in unforeseen circumstances like bankruptcy, our customers are guaranteed to stay up and running.
Checklist for choosing a SaaS provider: escrow and continuity agreements
Interestingly, not every SaaS company offers escrow services, let alone continuity, as it represents an additional cost without direct benefits to them. However, for businesses like yours, storing valuable data, the absence of such safeguards can pose significant risks.
When selecting a SaaS provider for your core business applications, it's essential to verify whether they offer escrow and continuity agreements. This should be a non-negotiable aspect of your SaaS provider checklist, especially when building applications that are central to your business operations. A provider that includes these services demonstrates foresight, reliability, and a commitment to your success.
In conclusion, as you navigate the SaaS landscape, understanding and prioritizing escrow and continuity agreements in your business planning is not just a smart move; it's essential. At Triggre, we don't just provide solutions; we ensure they are reliable and secure, reflecting our commitment to your business's long-term success.