Monitor and mitigate vendor risks whilst maintaining a “Plan B”.
Assure your vendors and mitigate third-party risk from the outset. Benefit from real-time telematics, point-in-time audits and independent insight on the vendor’s health from Adoptech practitioners.
Have confidence in the knowledge that in the event issues escalate and your vendor goes bust, pivots after acquisition or retires the service without providing an alternative, that your operations are protected by a Continuity Assurance Agreement (CAA).
What is a Continuity Assurance Agreement (CAA)?
A CAA is a modern extension to a traditional Software Escrow Agreement. Adoptech independently controls access to a replicated cloud environment, source code and client data. In a trigger event, such as vendor failure, Adoptech gains access to the environment and our practitioners step in to independently maintain the service on behalf of all assured clients. In the event of disaster the vendor is given access to the environment.
The CAA legal framework is unique to Adoptech, it makes traditional software escrow agreements effective in practice. By acting independently, on behalf of multiple clients, we provide effective protection efficiently. Single and multi-tenant architectures are supported.
Why do I need assurance?
It insulates clients from technology vendor risk that can damage their firm’s operations, top line and reputation. Firms can advance their competitive edge by adopting cutting edge technology in the knowledge they are protected from third-party risk.
Vendors have access to an independently tested BCP/DR environment, saving time, money and providing clients with confidence.
MONITOR AND MITIGATE VENDOR RISK
Immediate actionable insight
Prevention is better than cure, so assurance starts with setting up a risk-weighted mix of automated telemetrics, vendor assessment and practitioner insight, so that a picture of the software supplier’s health is maintained. The information gathered provides early insight into potential risks so that timely action can be taken to resolve issues and mitigate risks.
MAINTAIN A PLAN B
Plan for the unexpected
Despite best efforts, on occasions software suppliers will fail and without preparation, planning and people, operations can be significantly impacted.
Adoptech experts remain on-hand and ready to step-in when required
Adoptech have a service continuity plan in place so that when called upon, the steps necessary to avoid disruption are clear
Adoptech experts build and maintain knowledge of the firm and its operations in order that they can step-in
Finding the continuity assurance for you
Assuring your vendors is straightforward. There are multiple levels of assurance available to suit your requirements and the size, complexity and maturity of the vendor. You can protect everything from simple access to your data, right through to full comprehensive cover. Full comprehensive cover includes replication of the entire service, hosted on a separate mirrored infrastructure and the Adoptech team ready to step in and run the service independently.
Comprehensive assurance includes:
- Proprietary telematics continuously monitor company fundamentals to detect abnormal events across multiple surfaces: accounts, payments, code changes, cloud activity and beyond
- Our 360° platform enables firms to monitor and carry out audits efficiently so that audit teams can focus time where it is most needed
- Increase risk visibility by combining continuous, point-in-time audits and on-going practitioner assessment
- Make more informed decisions based on risk metrics and a deep dataset
- Mitigate the risk of vendor failure from the outset of an engagement
- You hope you never have to use step-in assurance, but you can be sure it’s there when you need it – and it works