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A leading multi-tenant property owner relies on a SaaS application to provide a comprehensive tenant management software portal. The company needs assurance that in the event of vendor failure, business operations continue uninterrupted. PRAXIS Technology Escrow provides a comprehensive SaaS escrow solution, including source code escrow, data escrow, and a Recovery Environment, ensuring SaaS continuity and operational resilience.
Without a structured escrow strategy, the property owner would face serious risks, including revenue loss, tenant dissatisfaction, and regulatory non-compliance. By implementing PRAXIS’s innovative escrow framework, the company benefits from enhanced security, improved disaster recovery readiness, and an optimized contingency plan.
The Challenge
The company’s SaaS application handles lease management, tenant communications, maintenance requests, and payment processing. Any downtime or loss of access to the software causes significant financial and operational disruptions. The key concerns are:
- Vendor viability risks (e.g., financial instability, acquisition, or discontinuation of service)
- Data loss or inaccessibility, leading to potential compliance violations
- Technical complexity of redeploying the application in case of failure
- Maintaining compliance with regulatory and contractual obligations
Given the property owner’s reliance on the SaaS application for daily operations, an immediate failover mechanism is critical. Traditional backups and service-level agreements (SLAs) do not fully mitigate vendor-related risks, making a structured SaaS escrow strategy essential.
The Solution: PRAXIS SaaS Escrow with Recovery Environment
To mitigate these risks, PRAXIS implements a multi-layered SaaS escrow strategy that includes:
- Source Code Escrow
- Secures and encrypts deposits of the application’s source code, build scripts, and deployment documentation.
- Ensures the escrowed code is kept up to date with automated deposits connected to the SaaS provider’s GitHub and Bitbucket repositories.
- Validates that source code versions align with deployed production environments.
- Data Escrow
- Regularly backs up the company’s critical data, securely stored in a separate escrow repository.
- Conducts periodic validation and integrity checks of escrowed data to ensure usability.
- Ensures that tenant records, financial transactions, and operational logs are always recoverable.
- Recovery Environment in PRAXIS AWS Escrow Platform
- Deploys a scaled-down replica of the SaaS application in PRAXIS’s secure AWS environment.
- Provides full functionality to allow the beneficiary to access critical features and maintain business continuity.
- Configures to mimic the production environment, ensuring seamless transition if activation is needed.
- Enables rapid deployment of the full application stack if the primary vendor ceases operations.
- Technical Verification & Ongoing Testing
- Conducts initial verification of source code, build processes, and deployment to ensure the escrow materials are complete and usable.
- Performs periodic retesting of the Recovery Environment to validate system functionality and application integrity.
- Conducts data escrow validation to confirm data integrity and usability in a recovery scenario.
- Provides customized simulation testing to evaluate application performance under different recovery scenarios.
Automated Escrow™ and Infinite Retention™
Automated Escrow™ is PRAXIS’s proprietary system that ensures all deposits, including source code and data, are automatically retrieved and secured from repositories like GitHub and Bitbucket. This eliminates manual updates and ensures that the escrow materials remain current and deployable at any given moment. By removing human error from the process, Automated Escrow™ ensures continuous protection with minimal operational overhead.
Infinite Retention™ guarantees that escrowed materials remain securely stored indefinitely, regardless of the SaaS vendor’s circumstances. Unlike traditional escrow solutions that may delete deposits after a specified period, Infinite Retention™ ensures that businesses can always access their critical software and data when needed. This perpetual access ensures long-term operational stability and prevents data loss due to expiration policies.
The Results
- Risk Mitigation: The property owner gains peace of mind, knowing they can recover their SaaS application in case of vendor failure.
- Operational Continuity: The Recovery Environment provides an immediate backup, preventing business disruption and allowing seamless transition.
- Regulatory Compliance: The escrow solution helps the company meet data protection, business continuity, and contractual compliance requirements.
- Trust & Security: The SaaS vendor and beneficiary maintain a strong business relationship with assurance that services continue regardless of vendor circumstances.
- Cost Efficiency: The proactive escrow solution eliminates the high costs associated with emergency software redeployment and data reconstruction.
Why PRAXIS?
PRAXIS Technology Escrow specializes in software escrow, SaaS continuity, source code escrow, and data escrow, ensuring businesses can rely on their mission-critical software. Our Automated Escrow™, Infinite Retention™, SOC2 compliance, and secure AWS Recovery Environment set the industry standard for business continuity solutions.
By leveraging Automated Escrow™, clients experience seamless, real-time deposit updates, reducing risk exposure. Additionally, Infinite Retention™ ensures that their mission-critical assets are protected indefinitely, providing long-term resilience against business disruptions.