In their own words: Three Customers Explain Why Technology Escrow is Essential

By: In: Technology Escrow On: Jan 21, 2016
In their own words:  Three Customers Explain Why Technology Escrow is Essential

 

 

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 summaries of three of our recent customer case studies – each uses technology escrow differently, but 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 at times. By providing technology escrow services from Iron Mountain, Stratus can ensure increased protection of customer software which helps 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 something happened to FactorFox’s business. FactorFox sees technology escrow as a competitive advantage when selling its services. Since the company began offering escrow services, they have begun signing with 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, just visit our Knowledge Center for additional customer insight, white papers, webcasts, videos and more.

 

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About the author

John Boruvka

John Boruvka, vice president for Iron Mountain’s Intellectual Property Management business unit, has been involved in the technology escrow and intellectual property management field for more than 25 years. His focus is helping companies create solutions relating to protecting intellectual property assets. Mr. Boruvka is considered an authority in the field of technology escrow and issues surrounding the role of a neutral third party in helping protect and manage intellectual property. Follow me on Twitter @JBoruvka