Which should be required by a company to mitigate the impact of a custom piece of software being installed by a vendor in case the vendor later goes out of business?

Question

Business

Allen Cohen

1 July, 21:47

Which should be required by a company to mitigate the impact of a custom piece of software being installed by a vendor in case the vendor later goes out of business?

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Answers (1)

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Meghan Vasquez · Answer 1

Correct control of operational risk related with customized software piece is creating a guarantee of the capacity to replicate the custom piece in case of future problems.

Explanation:

In this case, if it is considered that the custom software piece is too specific for the company, a negotiation with the vendor establishing the company ownership and development of the custom software in control of the company is critical