Escrow arrangement LabBuddy

Kryt B.V. (Kryt) has entered into an escrow arrangement with Escrow Alliance. With this escrow arrangement, Kryt ensures that the availability of the application is secured. With this, Kryt employees have thought about your business continuity should something unexpected happen to Kryt.

Why an escrow arrangement?

IT has become an integral part of today’s business operations. But in what ways are the risks mitigated if the supplier goes away due to, for example, bankruptcy, acquisition or cessation of business? What effect does this have on business continuity? How does one ensure the uninterrupted use of applications such as financial software, software to control business processes or document management software?

On the other hand, the intellectual property of the supplier should be protected and it is not desirable for “source materials” to be owned by the end user. After all, they are major assets of the supplier and that requires adequate protection, both legally and also in the handling of these materials.

Escrow Alliance, with its escrow arrangements, mitigates these operational IT risks by applying escrow and makes the software user less dependent.

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