Anatomy of a SaaS Vendor: Knowing the Technical Side

Businesses considering cloud computing frequently ask, “Is our data safe in the cloud?”  More than half of organizations – 62% of those surveyed – believe that storing data on servers outside of a business involves significant security risk.  The truth is that with the right provider, data is actually more secure in the cloud.

Determining which is the right vendor, however, involves finding answers to some tough questions about how well that vendor understands your business needs.  It's far better to make your decision with the full knowledge of where your data is going, where your brand management choices are being processed, and how your assets are being protected.

Greater understanding leads to more thoughtfully architected hardware/software, specifically built and optimized for consumer product licensing, how the data is managed and stored, and how safe that provider's infrastructure is.

When you're choosing your applications, evaluate your potential vendor carefully with questions like these:

• Does the company own its own hardware to provide the service?  
• Does this company outsource its software development to other companies, particularly those outside its own country?  Are the developers located in countries where hacking is rampant?  
• Are the upgrades to your systems conducted on the SaaS (Software as a Service) platform?
• Does this company undergo any regular security audits by certified third parties? What level of IT oversight is included with the SaaS?
• How is your team's data kept secure?  What methods are in place to protect those assets?  
• Does the potential vendor employ an ISO (information security officer)?
• Will this company keep your assets safe during occurrences like a stolen computer or natural disaster?

If the answers to all of these questions are satisfactory, your vital information can actually be safer in the virtual hands of a licensed digital asset management software than it would be if the data was held on site.

This early-on research allows you to determine whether the vendor you're considering is planning to take on their share of responsibility for the safety of your assets.

Getting reasonable answers to these and other questions early in the process will help shield your team from suddenly being negatively affected by another business's potential or actual financial and operational weaknesses in the future.

MyMediabox is a leading provider of SaaS hosted applications for digital asset management and style guide delivery (Mediabox-DAM), product approvals and other creative workflows (Mediabox-PA) and deal memo management (Mediabox-DM).  For more information visit us at www.mymediabox.com

Anatomy of a SaaS Vendor: Mapping Future Software Functionality and Technology

The story of the life cycle of software and technology today is a familiar one, to the point of being a cliché.  New technologies are constantly emerging that enable companies to improve performance and productivity, and the shelf life of older technologies (hardware and software) keeps getting shorter and shorter (24-36 months on average). This short lifespan is a key reason SaaS has become such a huge business driver, since it’s more cost-effective for most businesses to “rent” the solutions and hardware from a SaaS vendor and only consume what they need – without having to get on the “technology treadmill” themselves and bear the burden of rapidly depreciating technology.

This same logic used for software and hardware can be applied to the actual product road map.  All cloud-based business computing, and in particular, digital asset management and product approval applications should be dynamic systems.  The licensing business is ever-evolving, expanding and becoming more complex, so it stands to reason that the applications you choose should be robust enough to continually grow a few steps ahead of the industry and your particular needs.  

The only way that the perpetual improvement happens is if the vendor you select can demonstrate not only deep licensing industry knowledge (what makes the market run and where it’s going), but also an ability to stay two steps ahead of the technological curve. This translates into forward-thinking products and road maps, and simply probing for these qualities will help you sort out industry leaders from imitative followers.  

This is why, once you have confirmed that a potential SaaS (Software as a Service) vendor is financially and operationally sound, it's also imperative to look at that company's “big picture” development plans before making your final selection.

You'll want to critically evaluate the company's road map for future development.  Most software companies have their major software releases planned 6-12 months in advance at upgrades as well as new modules or applications that add value to their core applications.  

It’s also becoming more and more common with SaaS that software releases are done frequently, sometimes as often as quarterly or monthly, as new features are completed.  The vendor should be able to give you a high-level overview of how its applications will be evolving in the next twelve months, a drill down of what to expect in each month, and an explanation of how any new features add value to the ones they already have.  

The SaaS company that best suits your business should be one whose development plan makes it easy for you to find answers to all of these questions:

• How does this vendor plan to stay current with cutting-edge technology?

• Is the release schedule for updates frequent and consistent, indicating that new functionality is keeping up with market demand?

• Are clients involved and listened to in road map planning?

• Will upgrades be included in the fees you’ll be paying, or is that an additional cost to you?

Surprise costs, intended upgrades, and the process that the vendor will use to keep you up-to-date and prepared to lead the ever-changing market all provide vital information for choosing your SaaS cloud computing vendor.



MyMediabox is a leading provider of SaaS hosted applications for digital asset management and style guide delivery (Mediabox-DAM), product approvals and other creative workflows (Mediabox-PA) and deal memo management (Mediabox-DM).  For more information visit us at www.mymediabox.com.

MyMediabox is a leading provider of SaaS hosted applications for digital asset management and style guide delivery (Mediabox-DAM), product approvals and other creative workflows (Mediabox-PA) and deal memo management (Mediabox-DM).  For more information visit us at www.mymediabox.com

- See more at: http://mymediabox-online.blogspot.com/#sthash.W0OzIvlD.dpuf

Anatomy of a SaaS Vendor: Judging Financial and Operational Strengths

The financial and operational strength of a software vendor has far-reaching implications.  This is true for any provider of software applications you'll be using for business concerns, and especially true when the software you license  is delivered as SaaS (Software as a Service) and will be housing your business-critical, highly confidential guide assets, product approvals, and even contractual information.  The software vendor needs to be responsible for ensuring your data is protected and available to you at any time. 

Simply stated, it is essential that any vendor you select can demonstrate it has the financial and operational strength to warrant your trust as the custodian of your intellectual property (digital assets, product approvals and contractual terms).  

A financially and operationally stable SaaS vendor should demonstrate moderate to strong capability with most of the following:

• Ensure there are enough financial resources (cash) to pay third-party vendors such as co-location facilities, software license renewals, hardware upgrades, maintenance, payroll, office rental, and overhead costs even if customer payments are late to arrive.
• Recruit the best local software development talent, rather than outsource to lower-paid developers in questionable, high-risk countries, who will have access to your confidential data from abroad.
• Afford the optimal hardware and software needed to build a custom-build infrastructure and solution for the licensing process, rather than renting a generic, turnkey cloud solution from Amazon or the like, where your particular needs are not relevant.
• Invest in infrastructure and digital media specialists who have a deep understanding of digital media and the technologies needed to properly handle rich media assets.
• Invest capital toward evolving the applications to better meet the needs of your business over time and address bugs quickly and efficiently.

When a software provider's financial and operational position is precarious, where a few lost customers or one unforeseen major expense is all that stands between their ability to “keep the lights on” and an inability to pay the bills, you are taking a huge gamble by working with that technology vendor.  Can the vendor demonstrate its ability to weather the unexpected?

Here are examples of some revealing questions to ask any vendor – questions whose answers will help you objectively assess their financial and operational strengths:

• Is there a reasonable level of transparency about the vendor's level of financial strength and ability to pay bills on time?  
• Does the vendor have substantial Commercial and General Liability, Cyber Liability, E&O and Workers Compensation Insurance, and will they name you as additional insured?
• Does this vendor provide own their hardware and software in a private cloud, customized for licensing and with full control, or is it outsourced to a third party?
• Since developers are the single biggest cost for any software business, are their developers located in-house (locally) or is the work outsourced to third parties? Are their staff “offshored” and located in higher-risk, low-cost countries to fit the vendor’s financial limitations?  
• Where are the vendor’s offices located?  Can you visit their headquarters?  
• What is the vendor’s headcount and how is that headcount broken out across developers, infrastructure, support, sales, marketing, and corporate staff?
• How is their credit rating with Dunn & Bradstreet (DnB)? Do they have credit references?

Getting reasonable answers to these and other questions early in the process will help shield your team from suddenly being negatively affected by another business's potential or actual financial and operational weaknesses in the future.

MyMediabox is a leading provider of SaaS hosted applications for digital asset management and style guide delivery (Mediabox-DAM), product approvals and other creative workflows (Mediabox-PA) and deal memo management (Mediabox-DM).  For more information visit us at www.mymediabox.com

Anatomy of a SaaS Vendor: Identifying the Key Components and Choosing the Right Partner

Many companies have stepped into the new technological world of cloud-based applications, and this powerful tool is no longer relegated to the IT department.  More than 50% of all users are turning to this type of computing for brand management and other business priorities, and their numbers are growing rapidly – in fact, Business Wire reported in June 2013 that 75% of surveyed businesses use a cloud platform of some kind, and the usage increased dramatically in 2013, up from 67% in 2012.

When you're considering cloud-based software for your own company's product approvals and digital asset management needs, it's an exciting, paradigm-shifting process: you're changing the way your business does business for the better. Selecting the right product and vendor, though, can mean the difference between a successful transition and greater productivity -- or a daily exercise in frustration.

Over the next 10 weeks, we'll be digging deeper into the question of evaluating the most popular type of cloud computing programs, SaaS (Software as a Service), based on their reliability and fit to your business.  We'll explore a variety of best practices for identifying and leveraging the best-in-class vendors and applications, that, well-executed, can positively improve business performance.  Applying these tactics can help to avoid the significant financial, operational, technical, and legal risks which you might confront if you pick the wrong vendor.

A great deal of the initial information-gathering that makes your transition smoother is just a matter of asking tough questions of potential vendors early on.  Some of those are questions like these:

• Does the vendor have the financial strength to weather downturns or other unforeseen risks, or are they one lost customer away from being unable to pay their bills?
• Where are their offices located and can you visit them?
• Are their developers in-house or outsourced, domestic or in a high-risk country?
• How does this vendor address information security?  Do they have an Information Security Officer or other evidence to show you that security is a priority?
• Is the vendor a leader in the space?  Will they disclose their client list or other data to prove their market position?
• If things don't work out for any reason, what happens to your valuable data and assets?

How to find answers to those questions?  Let us help.  This blog series, “Anatomy of a SaaS Vendor,” is intended to offer experience, analysis, and advice on the thorough evaluation of cloud computing licensors in multiple categories.  Having found your own answers to each question, you and your team can come to the best possible decision for your business.

MyMediabox is a leading provider of SaaS hosted applications for digital asset management and style guide delivery (Mediabox-DAM), product approvals and other creative workflows (Mediabox-PA) and deal memo management (Mediabox-DM).  For more information visit us at www.mymediabox.com