Odessa Technologies Case Study
Odessa Technologies establish further credibility with Escrow
Odessa Technologies, Inc. provides innovative software solutions for the leasing industry. Its premier
business management solutions create value and streamline operations for several companies across
the financial services sector.
Headquartered in Philadelphia, Odessa employs 110 worldwide.
Challenge
Through Odessa's flagship LeaseWave suite, companies, banks and financial institutions have access to
a seamless, end-to-end leasing system to manage their portfolios, from application processing through to
lease termination. The application allows Odessa's clients to not only effectively manage their portfolios,
but also to interact with their business partners online, in a secure, real-time environment.
Recognising that each business is unique, the LeaseWave software suite has been engineered,
specifically, to be customizable around the unique needs of each client.
The highly customized nature of the software package can mean Odessa's clients may depend on
this mission-critical application to run their day to day business, meaning business continuity could be
jeopardized should anything happen to disrupt the ongoing smooth operation of the application.
When Odessa's clients started to enquire about the company's ability to insure this dependency, Madhu
Natarajan, Chief Executive Officer (CEO), decided to review the options and find a reliable solution.
Solution
"As part of our licensees' business continuity plans, it is vital for them to consider what arrangements
are in place should an unforeseen circumstance occur involving a key supplier such as ourselves,"
commented Madhu Natarajan, CEO, Odessa Technologies. "Following a review of the marketplace, we
chose to work with the world’s largest software escrow provider, NCC Group for a protection solution."
NCC Group's software escrow solutions provide a smart, simple way of protecting organizations, by
covering every business critical application or third party supplied software-as-a-service with a software
escrow solution.
Under the terms of its straightforward software escrow agreement, NCC Group holds a copy of the
LeaseWave source code which Odessa's licensees depend upon but do not own or have access to
under the terms of their license agreement. By entering into the software escrow agreement, Odessa is
granting its customers the right to access the source code for its software application in the unlikely event
that it was no longer able to support or maintain that software.
Results
Odessa is giving its clients the assurance that they can correct or rebuild the software with ease should
an event occur which would prevent Odessa from doing it on their behalf.
Natarajan concurred: "We are demonstrating that we truly value our customers and their business. We
have been able to establish further credibility with our client base and have ultimately built tangible
value into our software."
Craig Motta, General Manager, NCC Group, Inc. concluded: "Suppliers that offer escrow protection
with their products will add both value, security and peace of mind to their customer relationships.
Odessa Technologies' clients can take great comfort in knowing that their interests are being
safeguarded through an independent software escrow agreement."