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Subscription-based Software Shift Creates New Risks for CEOs/CIOs

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Pay-as-you-go software supply is becoming increasingly popular in the modern commercial world. There are definite benefits to this model of software supply, but there are also some concerns. Obvious risks surrounding data security have been much discussed, but there are hidden risks that must be addressed.

*IT service companies with experienced staff, but insufficient infrastructure.
*Resellers with a lack of experience.

Organisations should look for suppliers with good customer retention rates and excellent project management teams to have confidence in their choice. Here are five tips to help companies succeed with subscription-based software provision:

1. Sound and comprehensive research into suppliers.
2. Discuss a supplier revenue stream.
3. Implement rigid compliance policies and procedures across the company to ensure constant compliance.
4. Work for senior management buy-in. Everyone must be onboard with the software implementation for it to be a success.
5. Appoint internal contacts for the supplier to liaise with – an architect and project manager would be (at minimum) the best.