When you’re considering cloud-based software for your own company’s Contracts/Royalty Management, Digital Asset and Style Guide Delivery, Product Approvals Workflows and Security Management needs, it’s an exciting process. You’re changing the way your business does business. The potential in within your grasp to reap huge savings while increasing your team’s productivity. However, it can be a scary proposition to outsource the housing of your brand’s data and assets to a 3rd-party.
What if the vendor suddenly goes out of business?
What if the vendor’s software, infrastructure, developers and security are not secure and reliable?
What if they cannot pay their bills?
Selecting the right product and vendor can mean the difference between improved productivity and disaster!
Financial resources afford the SaaS vendor the ability to invest in technology and developers who mastermind the expertly architected hardware and software, specifically built and optimized for consumer product licensing. On the otherhand, the SaaS vendor in a weak financial position, e.g. the business is operating paycheck-to-paycheck, can have an adverse impact on the level of investment they make in protecting your valuable brands. What can you do to protect your brands?
Evaluate risks by asking prospective SaaS vendors questions like these:
- In which countries will my data and assets be stored?
- Does the SaaS vendor develop “in-house” or do they outsource their development to other countries?
- Does the SaaS vendor own the hardware/software that provides this specialized service or do they “rent” space on 3rd-party managed hardware/cloud service?
- Are the SaaS vendor’s data centers SSAE 16 compliant?
- Is the Saas vendor’s software solution fully managed directly by their IT team?
- Does the SaaS vendor have an InfoSec Officer and an Information Security Policy?
Answers to these questions and others will help you to determine whether the SaaS vendor you’re considering is a safe bet or a high risk when it comes to protecting your business interests.
If you’re interested in hearing our answers to these questions and more, let’s set up a time to chat.
Or if you’d like to see our solutions in action, we’ll schedule a live demo for you and your team.