If you’re a SaaS company and you’ve been in business for a few years now, you may have already come across a prospective business partner who was pretty insistent on the inclusion of a software or source code escrow agreement as part of the license terms. Eager to close the deal you’ve been negotiating laboriously for weeks or months, you now need to figure out how to give your client what they want while finding a way to save resources — whether it’s time or money.
If, on the other hand, you’re a company looking to gain a competitive advantage by using new technology and automating your business processes, you may be outsourcing the development of said technology (i.e., software application) to an emerging software company. And if that company is not quite established or profitable yet, you may now be considering minimizing the risk for your own company with a software escrow agreement.
Tags: Source Code Escrow
Although software escrows have been used since the 1970s, they are increasingly becoming more common and necessary practice for modern enterprises. As a result, there are a number of software escrow solutions on the market today, and some of them have been around for decades.
However, not all software escrow providers offer the same services, the same level of quality and security, and the same ease of use. And then there’s pricing, of course, which is an important aspect in and of itself.
So whether you’re a licensor or licensee on the hunt for your next software escrow, it’s important that you examine all of these factors to be able to choose a solution that meets your needs while providing top-notch security and flexibility.
Tags: Source Code Escrow
Software verification is an essential step in the process of deploying new and updated software. This article goes over what exactly software verification is, how to know if you’re doing it and doing it properly, and how to recognise your own inefficient practices and turn them around for better deployments.
Let’s get started with pinpointing precisely what is meant by software verification.
What is software verification?
Some people get software verification confused with software validation. But not exactly the same thing. Each of them is a component of software testing.
Software validation is the process of evaluating software towards the end of the development process in order to determine whether it satisfies specified business requirements. Software verification, however, is the process of evaluating the in-work product at specific development phases in order to determine whether it meets the specified requirements for that phase.
Put simply, software verification is asking yourself the question, “Are we building the product right?” It’s something you should be doing along the way. Or in other words, software validation is comparing what you built to the requirements you set for the product. Software verification is about analysing the process you used to build your software. So how do you determine that?
Here’s our take on it.
Working with a supplier can be anxiety-provoking. We get it. You’re putting someone else in control of a major component of your business — your software.
But there are ways to ensure that both you and your suppliers feel safe about your partnership.
Don’t want to worry about what happens if the software vendor goes out of business?
Concerned about not having access to the source code and other materials you need to maintain and update your software?
Don’t want to think about what could happen to your business if your supplier discontinues the maintenance and support of the software?
No worries. We’ve got the insider secrets you need to get the best out of your software suppliers…
Utilise a source code escrow service
You’ll be thankful that you did this. It’s important insurance when working with a supplier. A source code escrow service acts as the third-party intermediary for software licensing agreements.
All those concerns you had about working with a software vendor? Source code escrow resolves those, so you don’t have to worry about them.
You see, the escrow service helps you set up a legal agreement between your company and the supplier that states exactly what happens if one of those risky events occurs. If your supplier goes out of business, that triggers the release of the source code and other materials to you as the beneficiary of the code. If your supplier has to discontinue maintenance and support of the software, that triggers the release of the source code and other materials to the beneficiary of the code.
With source code escrow services there are no worries that you’ll be left without the data and resources you need to continue utilising business-essential software applications.