In our first verification post, we discussed Jerry's Jigsaws and the lack of documentation in his escrow account. Jerry's company experienced a setback from the disruption. This week, we will go over Level 2: Compile Verification and why it is important to noting whether or not there are any missing components in the deposit.
As a reminder, Escrow Verification is used to confirm that an escrow deposit contains everything that is documented in the escrow agreement. If something were to go wrong with your technology vendor, Escrow Verification services provide a quality control mechanism for the escrow deposit. There are four levels of Escrow Verification, with increasingly stringent levels of testing.
This infographic on Better Office Builders shows the importance of verification.
A Builder's Questionable Foundation - Click image to see full infographic
Better Office Builders is an architectural firm that relies on an application to turn customers' visions into blueprints that they can design from. The code for the application is stored in escrow for protection. After the depositor started to struggle financially, they failed to complete some important updates to the application. Better Office Builders decided to get their own developers to work on the source code from escrow, but they were unsuccessful since the code was missing some crucial components.
If Better Office Builders had ordered a Level 2: Compile Verification then the missing components would have been highlighted before the escrow release. Compile Verification validates whether or not the development environment can be recreated from the documentation in the deposit. This level highlights areas where the depositor should be engaged to complete a successful compilation.
This is the second level of verification which validates that the source code can be compiled and built into object code, but it does not give user, or beneficiary, the assurance that the software will run in a production environment. The higher levels of verification get into building and executing the deposit. Check back next week for more information on what the next level entails.
If you have any questions about Iron Mountain's Verification Services do not hesitate to contact our Verification Specialist, Shane Ryan, at shane.ryan@ironmountain.com.
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In our first verification post, we discussed Jerry's Jigsaws and the lack of documentation in his escrow account. Jerry's company experienced a setback from the disruption. This week, we will go over Level 2: Compile Verification and why it is important to noting whether or not there are any missing components in the deposit.
