With the business world embracing digital transformation across industries – financial, retail, engineering, public sector – all those everyday systems that businesses need to effectively and efficiently go about their business are, one-by-one, moving to a consumption-based model in the cloud. 70% of the business apps used today (2021) are SaaS-based, and this is set to rise to 85% in 2025, so how has this changed what businesses are looking for and, subsequently, what software providers should be able to offer them?
The growth of cloud computing is the result of businesses realizing just how agile, flexible and scalable they can become. The opportunities that cloud computing has brought to many organisations throughout the world have brought it to the forefront of the digital revolution.
Migrating to cloud solutions can be a stressful time for most companies. Whereas the early adopters are probably now well-versed in all things cloud and brimming with innovative confidence, those organisations which have taken a phased approach may still find the whole process a little bit overwhelming.
So, what does that mean for you, as their software provider? Well, it means that the more confidence that you can instill in your customers, the better. Not only will it ensure a smoother adoption process for your customers, but it will probably help you to win the business in the first place. Having a solution already in place to answer your prospects’ concerns about long-term availability will position you much further ahead than the competition.
As part of their offering, software providers can provide their customers with that added value guarantee that, for whatever reason, if their software provider is no longer able to fulfill their contractual obligations, that business will still be able to access their critical software applications. This is known as software escrow. An arrangement that protects both the customer and the supplier, software escrow places the source code into a virtual vault alongside instructions of how to rebuild that software should the need arise.
So whilst this gives customers the confidence to innovate with new and exciting technology by new start-ups and tech giants alike, it also provides those start-ups with a competitive edge to those who are already established. Having something like software escrow in their armory will allow them to level the playing field when pitching against their more-recognised competition.
To find out more about software escrow and how you can add it into your software offering, visit our Partner Network page.
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