With data loss affecting a company every two seconds and expected to cost businesses $265 billion by 2031, it’s no wonder distributors are offering customers the most current kind of warranty: the cybersecurity guarantee. These warranties are designed to minimize the economic risk of cyberattacks and shift liability to the seller. They typically fill the gaps that insurance companies leave.
However there are many different warranties for cybersecurity are created equal. Some experience rigid stipulations that could lead to your business paying a significant amount for data return, especially in the event that you aren’t aware of the fine print. For instance, the majority of warranties for technology restrict payment according to the amount the provider spent on their solution. This is not a great idea as the value of a particular record in Cohesity FortKnox may be more than the cost of a license to a technology vendor.
This is a big red flag as the cost of losing productivity of employees can be higher than the total amount of time that the software was utilized during the time. This is a huge red flag because the cost of lost productivity can be much higher than the total amount of time that the software was used for that period. Therefore, including https://www.toptechno24.com/how-to-achieve-express-warranty-agreement-using-data-room-services representations and warranties that focus on the lawful processing of information right down to the most remote division of a business can reduce the risk of financial loss during M&A transactions.