Investing in technology is not a decision that is made lightly. In today’s technology-driven world, companies are competing to be the best of the best and they are using technology to speed up business processes, innovate, and/or give them a competitive advantage.
Choosing a new technology developer should be based on the best solution for your company.
(Helpful hint: Here at Iron Mountain, we use the terms “technology developer” and “depositor” interchangeably, as well as “technology user/buyer” and “licensee”.)
As a Licensee, when you bring in new technology you introduce risk to your company. You may begin asking yourself a lot of ‘what if’ questions. What if the developer doesn’t meet their SLAs? What if they stop supporting this application? Or worse, what if they go out of business and we lose our technology altogether?
Stop stressing about the “what ifs” and be proactive. You don’t need to avoid making risky investments; you just need a backup plan! As the leader in Intellectual Property Management, including technology escrow services, let Iron Mountain take on the risk while you focus on innovating and growing your business with the best technology for you.
With just seven steps you’ll be able to implement your own Technology Escrow policy quickly and easily:
- Establish a Core Team
- Define Your Escrow Policy
- Create a Repeatable Process
- Verify Your Developer’s Compliance to the Escrow Agreement
- Protect Your Cloud (SAAS) Technology
- Review Your Current Escrow Agreements
- Maintain Your Escrow Agreements