Business Continuity, the Fintech landslide, and how Escrow can offer a sound foundation

Trust in knowledge, competence and sustainability of Business is Business Critical to the purchasers and the suppliers of technology. So too in the disruptive Fintech world. A thorough and sound Business Continuity Policy is essential, and often mandatory. The easiest, cleanest, and often cheapest solution, is an Escrow arrangement.

The Fintech landslide is continuing to gain steam. After decades of thorough steadfastness, in which banks were often perceived as a more solid institutional construction than many a Polity, the entire financial landscape is being irrevocably re-drawn. The end of this sectorial tectonic movement is not yet in sight, which means that the landscapes ..

Business Continuity, Intellectual property and how Escrow can settle both

As software development is Business Critical to both the supplier and the user of said software, a Business Continuity settlement is necessary (and in some cases mandatory). The easiest, and often cheapest, solution, is an Escrow Arrangement.

With the rise of Business Continuity concerns among Software Users, Software Suppliers need to consider the implications thereof on their own IP and Business Continuity. They need to find a balance between their property rights and continuity concerns, and those of their clients. Software Escrow Services with an Escrow Agent helps achieve this balance. If your company is a software supplier, it is safe to assume that your company’s service is Business Critical to the company itself, and to most of its clients. And, to be entirely fair: isn’t it often a valid point to ask what happens with the product or service if you – the supplier – can’t maintain it anymore? If your company is a software user, you should consider your company’s dependency on your supplier’s applications and services. If these are Business Critical to your company, risk mitigation measures – including Escrow – are in order. The main question concerning both suppliers and users is how to protect the supplier’s IP whilst providing optimal Business Continuity guarantees to the users. Traditional answers to that query vary tremendously. Some suppliers decide to go for a system of primary, secondary and tertiary back-up systems, some turn to their lawyers and others still design convoluted systems of checks and balances, cupboards, keys and who has access to what checks. In truth, the answer can be a lot quicker and a lot simpler – not to mention cheaper and more effective than most alternatives. The simplest possible answer to all possible considerations regarding intellectual property of software, in combination with business continuity for the users, is a Software Escrow arrangement. An Escrow arrangement between the supplier, its clients (the beneficiaries), and an experienced Escrow Agent covers all concerns, without infringing either party’s IP or rights of use. WorldEscrow is such an Escrow agent, looking to foster trust between suppliers of technology, and the users thereof, whilst guaranteeing that every party’s rights and considerations are included. We offer a clean, hassle free and highly flexible solution to most – if not all – business continuity and software IP questions, and are always happy to help. On top of that, we are one of the few approved Escrow providers for Microsoft Dynamics.




   

How Escrow protects your Tech

Technology users often find themselves in a situation of full dependency on the continued service of a single supplier. Business Continuity Planning becomes essential to protect the Technologies used. Escrow is a vital part of any solid Technology BC plan.

As a user of technology, your company finds itself in a position of dependency towards the supplier of that technology. For most situations, this is perfectly fine. It may upset your employees that the coffee machine shorts out, and that the company making these machines has gone out of business or discontinued that line of machines years ago, bu..