Here’s What you Need to Know About Technology Escrow as a Developer

It all depends on the level of risk your customers associate with the impact of losing your technology.

Try and walk through the chart to the right to quantify your technology’s level of risk.

But first, how do you know what technology should be in escrow?

Once you determine what should be in escrow…

Step 1: Establish a Core TeamStep 2: Create a Repeatable ProcessStep 3: Verification Request or Self-Verify?Step 4: Are You Providing Cloud Technology?Step 5: Don’t Forget About Your IPStep 6: Maintenance of Deposits

…follow these 6 steps to achieve best practice:

Escrow is a part of your risk management strategy so you should have representation from all departments involved in your organization’s risk management strategy.

Try for no more than 8-10 members.

Step 1: Establish a Core Team

Creating a repeatable process will simplify your ability to address prospects’ concerns and close business faster. Elect for a Master Escrow Agreement to speed up the escrow process.

Step 2: Create a Repeatable Process

Verification is the validation of the deposit materials in your account.

You can wait until you customer asks you to verify or you can be proactive and self-verify which will help you instill trust early on.

Step 3: Verification Request or Self-Verify?

Did you know that 79% of all SaaS providers do not guarantee application continuity?

The cloud is risky business and your customers know that. Work to minimize the risk of your cloud technology.

Step 4: Are Your Providing Cloud Technology?

Your intellectual property (IP) is your most important and valuable asset, yet also one of the most poorly managed.

Protect your IP ahead of time so you can safeguard your technology ownership.

Step 5: Don’t Forget About Your IP

Step 6: Maintenance of Deposits

Want to learn more? Download the full guide now.