FOR IMMEDIATE RELEASE
LEHI, Utah — EscrowTech International, Inc., announced the availability of the company’s new automated software escrow services. Allowing for fully automated submission of software escrow materials on an ongoing basis, the new services benefit both licensees and vendors. Licensees can be confident that each software escrow will be updated more regularly and accurately, with mistakes resulting from manual processes being eliminated. Software vendors benefit from a streamlined escrow submission process that is far easier to manage and which does away with human error. As a leader in the field of software and intellectual property escrow, EscrowTech serves clients including IBM, Intel, Microsoft, Oracle, Walmart, and Verizon. The company’s new fully automated software escrow update services are available to clients now.
“Software escrow is an increasingly important concern in the modern, highly digital realm of business,” said EscrowTech Vice President Jorge Sagastume, “When source code and other software-related materials are not kept up to date, however, even a well-designed escrow cannot provide the protection and security that might be hoped. Our new fully automated software escrow submission service improves greatly on the slow, labor-intensive processes that have traditionally been the norm. In addition to eliminating human sources of error, the new automated escrow service makes it much easier to keep source code, data, documentation, and other assets up to date as development progresses. That benefits both vendors and licensees in truly significant ways.”
Many large companies today spend millions of dollars licensing complex, business-critical software systems from vendors that develop them. Particularly given the costs involved in acquiring, migrating to, and using such software, a large organization could become exposed to significant harm if a vendor should go out of business, lose access to related digital resources, or otherwise become unable to support a system.
Software escrow is an arrangement designed to provide protection against such risks. With a trusted third party taking possession of the human-readable source code, data, and other intellectual property that makes up a software product, a licensing agreement will include provisions for the release of those assets to a licensee upon the business failure of the vendor or other defined condition.
EscrowTech International, Inc., is one of the world’s leading providers of secure, trusted software escrow. The company’s new automated escrow submission service improves upon industry norms by enabling more regular updating of source code and other resources while removing the possibility of human-derived error. Those interested can learn more about the new service at the EscrowTech website.
About EscrowTech International, Inc.:
Serving over half of the Fortune 500, EscrowTech International, Inc., is one of the world’s leading providers of trusted, secure, robust escrow and related services for software, SaaS, and intellectual property.
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