Contributed
By John Boruvka
On both sides of the software equation, there is always a level of risk. 
Whether you develop software or use software in your day-to-day operations, there is an expectation that the software will be up-and-running as promised, whenever it is needed.
This 3-minute Software Risk Assessment will guide you through a few questions to help identify your level of risk so that you can address it.
What do we mean when we say software risk?
As a developer, your software helps customers solve their business challenges. But your customer needs to have assurances that you’ll be there for them in the long run. And, that the software will continue to be supported in the case of unforeseen circumstances. At the same time, you want to make sure you’re protecting the intellectual property inherent to your products and your company’s revenue stream.
If you use software in your business and it is a critical part of your business operations, there will be consequences if your software vendor is acquired, merges with another company, files for bankruptcy, or just decides to “sunset” the product you rely on.
Some of the risk factors for both developers and licensees include:
• The type of software
• The business-criticality of that software
• Whether it is a SaaS application
• The cost of downtime if the software is unavailable
• Software vendor stability
The quiz looks at these factors and is a starting point for exploring risk mitigation strategies.
For software developers, you need to make sure you protect your IP, but at the same time understand your customers and the fact that they are trusting you to be there for them. Some software developers will proactively put risk mitigation plans in place for their customers, which helps close the deal.
So, if you have 3 minutes, answer a few questions about your software application. It can help start a healthy discussion about software risk. SW
TAKE THE QUIZ: Software Risk Assessment
John Boruvka is the vice president for Iron Mountain’s Intellectual Property Management (IPM) group. He 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. To contact an Iron Mountain escrow advisor directly, please call 800-962-0652 or email escrow@ironmountain.com.
Nov2019, Software Magazine
