New Survey Shows 55 Percent of Critical Software Applications Do Not Meet Expectations, Wasting Valuable Resources & Driving ...
September 19 2016 - 6:45AM
Business Wire
IT asset managers must be proactive with
up-front risk mitigation strategies
Iron Mountain Incorporated® (NYSE:IRM), the global leader in
storage and information management services, today announced the
results of a recent research survey1 that reveals the risks
associated with licensing critical software applications, and why
procurement professionals and IT asset managers must take
protections to safeguard the software that is at the heart of their
business operations.
Key findings of Iron Mountain’s research will be shared at the
upcoming Gartner IT Financial & Procurement Asset Management
Summit, including:
- Fifty-five percent of IT decision
makers report having licensed critical software applications from a
vendor that did not meet expectations.
- When enterprises select vendors that
ultimately do not meet expectations, it wastes valuable resources
and increases costs. This impacts business in several ways: 64
percent of respondents said additional time and/or effort was
required; 60 percent had project setbacks; and 47 percent noted
added costs.
- On average, IT project failures cost
businesses a 25 percent overrun.
Enterprises struggle with a range of negative consequences when
a software vendor fails to provide adequate support. Technology
escrow gives organizations leverage to demand better SLA compliance
– and protection against a potentially dangerous total loss of
support. If a software developer goes out of business, or otherwise
discontinues support, an escrow release lets the software licensee
continue with development in-house or keep suddenly unsupported
products running long enough to find and implement a replacement.
With the benefit of technology escrow, a copy of your software
source code, data, build instructions, and third-party tools are
stored securely with Iron Mountain. As a result, the wasted
resources and cost overruns associated with vendors that do not
meet expectations can be minimized or eliminated.
John Boruvka, vice president of Iron Mountain’s Intellectual
Property Management business, explains, “This research illustrates
a chief fear for IT asset managers, namely how to prepare for ‘what
happens when the worst happens?’ In order to avoid that worst-case
scenario, many forward-thinking companies build risk mitigation
into the procurement process with technology escrow and
verification. Additionally, beyond traditional escrow for
on-premises applications, special considerations need to be taken
for software-as-a-service (SaaS) applications and data, since when
your software and data are in the cloud, the old rules no longer
apply.”
Iron Mountain’s Intellectual Property Management group is
exhibiting at the Gartner IT Financial & Procurement Asset
Management Summit on Sept. 19 – 21 in Grapevine, TX, in booth #408.
The summit covers critical topics in IT Asset Management, including
vendor risk mitigation practices and managing software that resides
in the cloud.
For more information:
- View the infographic with results of
the IDG Survey of IT Decision Makers on Vendors and Application
Support.
- Download the Executive Viewpoint
Q&A, The Case for Technology Escrow from Business and Legal
Perspectives.
About Iron MountainIron
Mountain Incorporated (NYSE: IRM) is the global leader for storage
and information management services. Trusted by more than 220,000
organizations around the world, Iron Mountain’s real estate network
comprises more than 85 million square feet across more than 1,400
facilities in 45 countries dedicated to protecting and preserving
what matters most for its customers. Iron Mountain’s solutions
portfolio includes records management, data
management, document management, data centers, art
storage and logistics, and secure shredding, helping organizations
to lower storage costs, comply with regulations, recover from
disaster, and better use their information. Founded in 1951, Iron
Mountain stores and protects billions of information assets,
including critical business documents, electronic information,
medical data and cultural and historical artifacts.
Visit www.ironmountain.com for more information.
1 This survey was conduct by IDG Research Services in June of
2016. A total of 161 IT Decision Makers were surveyed.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919005233/en/
Iron MountainMaria Doyle,
781-964-3536maria@doylestratcomm.com
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