Do You Have Active Software Escrow Agreements in Place for All Mission Critical Software?

Now is a good time to specify your active escrow requirements. Make these requirements a non-negotiable condition of all new software licenses or cloud software subscription. Inventory all existing business critical software licenses/subscriptions and ensure that active escrow is a part of these agreements. Over time, bring these existing agreements into compliance with your new escrow requirements.

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Delivering on Peter Drucker’s Call-to-Action

The key point is that technology can actuate procedures so they are not just pages in a binder, technology can directly relate the control execution and review procedures with all the evidence of performance and review, and technology enables moving the responsibilities to lower-level workers to deliver on the “knowledge worker” productivity Peter Drucker emphasized as critical to sustained success. Economist Robert Gordon argues in his new book, The Rise and Fall of American Growth, that America’s future economy will not be nearly as bright as its past mainly because the great improvements in productivity and living standards (e.g., electrical power, transportation, indoor plumbing) achieved in the 20th century have no such counterpart to improve productivity in the 21st century. Peter Drucker’s challenge to unleash the productivity of the “knowledge worker” presents an opportunity to achieve such productivity and lifestyle improvement gains. Executing financial, compliance, operational and strategic objectives in a consistent manner, with accountability, documentation and accessibility is one such “knowledge worker” productivity opportunity. The best productivity comes from good technology that support consistency, clear communication, and ease of tracking thereby supporting moving the work to lower skilled workers thereby increasing productivity per dollar spent. Let’s use technology to leverage compliance and deliver on Peter Drucker’s call-to-action.

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