Pop Quiz: What’s your Software Risk level?

John Boruvka

Whether you use software in the day-to-day operations of your business or develop software for others to use, there is always a level of risk.

Our 3-minute Software Risk Assessment will guide you through a few questions that will help identify your level of risk so that you can address it.

What do we mean when we say software risk?

Well, if you use software in your business and it is a critical part of your business operations, there will be consequences if your software vendor is acquired, merges with another company, files for bankruptcy, or just decides to “sunset” the product you rely on.

Some of the risk factors include:

  • The type of software you use;
  • How business-critical your software is;
  • Whether you use SaaS applications;
  • The cost of downtime to your business; and
  • How established your software vendor is.

Our quiz looks at these factors and is a starting point for exploring risk mitigation strategies.

And, if you’re a software developer, you need to make sure you protect your intellectual property, but at the same time understand your customers and the fact that they are trusting you to be there for them. Some software developers will proactively put risk mitigation plans in place for their customers, which helps close the deal.

So, if you have 3 minutes, answer a few questions about your software application. It can help start a healthy discussion about software risk.

More in Technology Escrow