Technology escrow can often be hard to explain. What is it exactly? Who uses it? What are the benefits?
Our customers tell the story best in their own words. Here are the quick summaries of three of our most recent customer case studies. Although they use technology escrow differently, each company derives benefits and peace of mind.
Expediting Business Deals
Stratus Technologies, an international supplier of ultra-resilient computer platforms, was facing increased customer demands for added technology system protection. This was impeding business transactions and slowing the sales process. Implementing technology escrow services from Iron Mountain ensured increased protection of customer software to help close deals more quickly.
“The fact that we have an escrow arrangement with Iron Mountain, in many cases, enables us to do business with some customers that wouldn’t otherwise do business with us [unless] they were assured that we had the means and the capability to protect our software and make it available to them.”
–Bob Kellegrew, Vice President and General Counsel, Stratus
Assuring Customers of Developer Viability
FactorFox is a small developer of software for tracking and maintaining factor accounts. They use escrow from Iron Mountain to assure customers that they would be protected even if an unforeseen event occurs. FactorFox sees technology escrow as a competitive advantage when selling its services. Since the company began offering escrow services, they have signed larger customers and have seen an increase in revenue.
“Although we were protecting our assets, we weren’t protecting our customers. Should anything happen to FactorFox… that could be devastating…”
–Robert Vasquez, FactorFox co-founder
Protecting SaaS Investments for the Long Haul
Acuity Management Solutions is a provider of enterprise legal management software delivered via the Software-as-a-Service (SaaS) model. Acuity worked with Iron Mountain and NEC to develop a unique escrow and hosting solution to ensure business continuity and information protection for their SaaS application. This enables them to replicate the entire SaaS application to a secure recovery environment administered by third-party experts.
“You’re talking about legal data, proprietary data and accounts payable data. There’s zero tolerance for missing the mark, ever. We didn’t want to mess around with any tier two players –we wanted to build out our product with the experts that know this landscape inside and out.”
–Pam Jowdy, Director of Product and Marketing, Acuity
We feel that our customers say it best, so thanks to them for sharing their stories (click on the links to see the full customer case study). And, if you’d like to learn more about Technology Escrow, contact me at NBatavia@IronMountain.co.uk.