ITP provides a commercial software escrowing service through a wholly-owned subsidiary company, Escrow NZ Ltd (ENZ). ENZ is New Zealand's leading independent software escrow agent.
Why escrow software
Placing software source code in escrow protects the investment of both the owner and the licensee.
Often when a company provides software to another company they maintain ownership of the source code and provide any updates or changes necessary for the life of the product.
But what happens if the vendor goes out of business or is unable to provide support for the software at some point in the future?
Escrow NZ protects the client by securely maintaining a copy of the source code for the product. In very limited circumstances agreed in writing via contract (such as the supplier ceasing to trade) the source code is released so the product can continue to be maintained and you're still in business.
Quick Facts About Escrow NZ
ENZ is New Zealand's trusted software escrow agents. Here are some quick facts about the company:
- Escrow NZ Ltd is independent: a wholly-owned subsidiary of IT Professionals NZ, the professional body of the ICT sector and longest serving tech body in New Zealand.
- ENZ operates nationwide with a head office and all operational staff based in Wellington.
- ENZ stores all Escrow in a controlled access ex-bank vault in central Wellington, with escrow material only accessible by pre-vetted authorised staff and agents.
- ENZ doesn't disclose a client list for security reasons. Clients include many of New Zealand's largest companies including banks, software vendors, manufacturers, telecommunications companies, lawyers, and many other businesses of all shapes and sizes.
- The ITP Group has been offering software escrow services in New Zealand since 1997.
- ENZ is a trusted third party, acting for both the owner and licensee of software. It acts in the best interests of all parties at all times.