Technology Escrow

White Paper: How Software Escrow Protects Critical Business Software in Uncertain Times

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Our latest white paper dives into how software escrow and technical verification services can safeguard critical software investments, especially when working with start-up providers. Using the example of a major waste management company, the white paper explains how software escrow ensures business continuity by providing access to the software and source code in case of […]

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The Case for Neutral Third-Party Technology Escrow Agents in New York’s Voting System

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The integrity, transparency, and security of New York’s electoral process are currently at risk due to the State Board of Elections’ decision to manage voting system software escrow internally. While the goal is to ensure compliance with federal and state requirements, this approach presents significant challenges. Without the involvement of a neutral third-party technology escrow

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SEC Guidance on Data Escrow for Broker Dealers

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Software escrow serves as a critical component of risk management strategies for organizations reliant on third-party software services, such as broker-dealers affected by the Securities and Exchange Commission’s (SEC) amendments to electronic recordkeeping requirements. This extended analysis further explores the role of software escrow in addressing the challenges posed by regulatory changes, emphasizing its benefits,

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EscrowED: Escrow Required for Election Software in Colorado

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The following is an explanation of the sections of the Colorado Revised Statutes regarding the handling, escrowing, and management of election software and setup records. This legislation aims to ensure transparency, security, and accountability in the use of electronic systems for voting and tabulating election results. Let’s delve into a comprehensive analysis of each section

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FFIEC Guidance for Software Escrow

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Re: Federal Financial Institutions Examination Council’s Risk Management of Outsourced Technology Services This statement outlines the risk management process for financial institutions when outsourcing technology services. It emphasizes the importance of identifying, measuring, monitoring, and controlling risks associated with outsourcing arrangements. Financial institutions are encouraged to follow the guidance provided in this statement and the

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SaaS Escrow Services Market Research, 2031: Unlocking Growth and Mitigating Risks

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According to Allied Market Research, the SaaS escrow services market is poised for significant growth, reflecting the increasing importance of safeguarding access to critical cloud-based applications. In 2021, the global market stood at $5.4 billion, and it’s projected to surge to $18.4 billion by 2031, boasting a remarkable CAGR of 13.4% from 2022 onwards.  Understanding

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Enhancing Security and Efficiency: The Case for Switching to PRAXIS’ Automated Escrow Solution for Student Information Systems Software and SaaS Companies

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Student Information Systems (SIS) software and Software as a Service (SaaS) companies play a crucial role in modern educational institutions, providing essential tools for managing student data, academic records, and administrative tasks. As guardians of sensitive information, these companies must prioritize security and compliance to safeguard data integrity and maintain trust with their many clients.

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The Seven Fundamentals of Software/SaaS Escrow Agents: Ensuring Trust and Security in the Digital Era

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In today’s rapidly evolving digital landscape, the protection of intellectual property (IP) and critical software assets is paramount for businesses worldwide. Software as a Service (SaaS) and software-based companies heavily rely on their proprietary technology to drive innovation, competitiveness, and revenue generation. However, the inherent risks associated with technological advancements, such as data breaches, system

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Software Risk Checklist

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Technology escrow agreements are intended to provide end users with application continuity for mission critical, expensive or difficult to replace software and SaaS applications if the software vendor fails to perform, goes out of business or other pre-negotiated circumstances. All of the risks outlined below have been successfully addressed in escrow agreements in the past. 

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Leveraging Software / SaaS Escrow: Enabling Technology to Serve as Collateral for Loans

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Business critical software has become an integral part of modern business operations, and its value is recognized in various domains. To support innovation and growth, emerging software, SaaS and technology companies often seek financial assistance in the form of loans. However, lending institutions are naturally cautious about collateralizing intangible assets like software or other intellectual

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