Streamline Your Vendor Negotiations with airSlate SignNow's Saas Funnel in Vendor Negotiations

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hey there everyone Ronnie Carnac here it's 2020 and most companies use tech this comes as no surprise to you folks even if you are in a remote village somewhere with an Etsy store you've probably executed a sass agreement a software-as-a-service click-wrap contract of some kind for using whatever software platform you are using software can be in an operating program that you download to your device your computer or it can be a remotely hosted application right something that's available via that via the internet so I hope that today's video helps some of the especially the is particularly geared towards practitioners in in this space legal practitioners it's not intended to be any kind of legal advice please consult your independent legal advisors for legal advice okay this is a practitioner - practitioner video it's a non exhaustive list of the kinds of things that you should look for when negotiating a SAS agreement on behalf of your client or suggested items that you look for and keep in mind so you know in more complex scenarios other than the clip click rap contract you know certain provisions of the saddest agreement are heavily negotiated there are very bespoke SAS agreements for any number of contacts right we're in the Big Data age where management of data is paramount so we're coming up with new ways to to manage and access that data and our software developers are helping us in this goal so first couple things is I would say when proceeding to represent a SAS client is know your client now this should be obvious but it's something that I think in doing your proper diligence of your client it's really getting an understand the kind of business that they're doing and what they're doing what kind of data they're dealing with specifically because when you're dealing with a financial institution you may be subject to OCC Officer Office of the Comptroller of the currency regulations or guidelines that deal with the technology providers third-party vendors and technology providers that provide services when you're dealing with you know financial data of customers so you know you have very specific provisions dealing with financial data of customers as well as with with money and you're going to be integrating those kinds of guidelines similarly are you a covered entity that might trigger HIPAA and you're going to need to ensure that your agreement jives with the HIPAA regulations there's notic of a better word you want to be an alignment with any applicable state local federal even international law depending on where you're doing business where the data is being stored and you know consult your advisors in the jurisdictions as needed to make sure that that is and consult your subject matter experts to ensure that that data is being protected properly second to knowing your client is know your client but probably paramount when it comes to the contract is to know your clients objectives so what this is vital for for the client for managing expectations and really on both sides you know what is your client seeking to do and what are the technical specifications of this software that are going to be needed in order for it to have the intended functionality you want to delineate as clearly as possible what what that is for both sides what kind of data needs to be delivered and when by the client and you know how this software is going to get rolled out and delivered you're gonna want to understand what the warranties are for unavailable and availability of the service if there's a delay in the rollout or you know they come upon some sort of issues how those will be communicated what will be the client's responsibilities at that time and what are their rights you know if the system goes down we'll get to indemnification and breach later we also want to talk about the data itself you know in terms of you know who owns it how will it be converted what's the transition plan you know the it may not go into every single tiny minutia of what that plan is going to be but a very understandable level and coherent level you're going to need to understand what happens to the data who owns the data what the you know software provider is going to do with that data especially if it's sensitive right where their legacy systems involved how it's going to be how it's going to reach its destination and will it be destroyed at the end of that migration will there be a period where that data will exist and how will it be secured while this integration process is happening right so you don't want to kind of import all the data and expunge it and then the product you know the program doesn't work the way you need it to and we can't get that data back that creates a huge amount of business risk depending on the context right or you know Congress Lee you don't want this this data hanging around and even being profited on if you don't know about it necessarily right so if it's okay for them to share that data or use that data in some way you know let's put some parameter around it that makes sense and are in adherence with the regulations as well as industry best practices and most of all what our client would like to see right so any good contract that I've seen is going to have indemnification liability what happens in the event of breach you hope not to ever need this kind of stuff right this is more standard contract stuff but you know those are those are some of the things that you want to clarify when you proceed on this exciting endeavor of negotiating sass agreements again please consult your independent legal advisors for legal advice and thank you for checking out this video and I hope you'll subscribe to more like it and Maine Tech and law space so thank you