4 Key Things To Consider When Researching Software Escrow Agents

When you rely on key applications that are business-critical, revenue-generating, bespoke or highly customised, you’ll want to protect against the threat of no longer having access to them. This is where Software Escrow comes in. 

Software Escrow agreements protect your business-critical applications. They involve a copy of your application's source code along with supporting material (and data where required) being securely stored in Escrow so that in the event your developer is no longer able to support you, the escrow deposit can be released back to you. This enables you to continue to develop and maintain your application to the point a suitable replacement can be procured.

But how do you choose the right Software Escrow provider and the right level of protection? Below we have outlined 4 key areas to consider when choosing a Software Escrow agent:

How Much Experience Does Your Supplier Have? 

Age is no guarantee of wisdom, but with the average Software Escrow agreement lasting 8+ years, it is important to consider your supplier’s longevity. Over the last 20 years, SES has protected more than £50bn of software, firmware, hardware, and data assets for over 2,500 businesses across 45 countries. This experience has enabled us to develop industry-leading solutions that provide our customers with substantial levels of protection.

What Accreditations Does Your Supplier Hold? 

Substantial accreditations such as ISO: 27001 that are awarded by qualified accrediting bodies, namely UKAS or Lloyds are fundamental to any Software Escrow agreement. These accreditations should also be awarded to the Escrow agent themselves and not a third party or affiliate. This is because achieving them involves constant and rigorous reviews to ensure their Software Escrow business adheres to the stringent criteria for Information Security Management Systems (ISO: 27001).

SES holds UKAS certified ISO: 9001 and ISO: 27001. These standards demonstrate to our clients that SES’s services and solutions have been designed with quality and information at their core. This guarantees that our customer's information and IP are protected to the highest possible levels throughout its journey with SES.

What Liability Coverage Does Your Supplier Hold? 

It is important to understand the limitation of your supplier's liability because if they fail you, this is the extent to which you can claim reparations. SES’s limitation of liability stands at £5m – the highest in the UK Software Escrow industry. This gives our customers the confidence that their critical applications, data and IP are protected to the highest possible levels. 

How Do The Costs Stack Up? 

Software Escrow does not need to be an overly expensive solution. However, there are substantial costs involved in running a sustainable, experienced, and secure service. If a supplier's costs are considerably low in comparison to others, this could be reflective of the service being offered.

If you are interested in finding out more about the Software Escrow protections SES provide, please get in touch and one of our specialists will get back to you within one business day.

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