PawnMaster Blog

What You Need To Know About Data Ownership

We are consistently coming across shops changing their software vendor for a number of reasons, so we feel it's important to provide resources to those who are looking to make a switch. When you're entering into a SaaS agreement for the first time, you may have some questions or concerns. That's normal. According to CIO Review, "The best means of protecting yourself is to carefully read and understand the terms of the contracts with your data vendors. Often these provisions can be negotiatedfor example, you can require that your data to be anonymized when it's used by the vendor."

Feeling Trapped by Your Vendor?

Choosing the correct vendors for your shop can seem like a daunting task, but you shouldn't feel like you're trapped when making your decision. We know that it's a lot to take in, that's why we at PawnMaster put together resources for people in the market to make a switch. When you're entering into a SaaS agreement for the first time, you may have some questions or concerns. That's normal. According to CIO Review, "The best means of protecting yourself is to carefully read and understand the terms of the contracts with your data vendors. Often these provisions can be negotiated--for example, you can require that your data to be anonymized when it's used by the vendor."

The Software Contract

Our industry has been thrust into acquiring a fast education on things to look out for when signing a software contact. I am sure it is a topic many never thought they would have to address. In business, contracts are a necessary evil. Reverting to them and getting into heated debates over them is usually unnecessary because the contract is put into place to benefit BOTH parties -- not only the vendor. Quality providers won't have to fall back on the fine print of a contract, that you probably never knew was there in the first place. Quality providers are up front with the terms of the agreement. 

Who Really Owns Your Data?

With so many pawnbrokers making the decision to change software vendors in 2016 as a result of several unfortunate circumstances, we feel it is important to provide these types of resources. When you're entering into a SaaS agreement for the first time, you may have some questions or concerns. That's normal. According to CIO Review, "The best means of protecting yourself is to carefully read and understand the terms of the contracts with your data vendors. Often these provisions can be negotiated--for example, you can require that your data to be anonymized when it's used by the vendor."

When "Plan A" is Dead

 

How much does it cost you when Plan A fails and you are left to figure out how to recover if a vendor goes out of business or a new regulation is enforced? What is your Plan B? 

For many customers in our industry, Plan B was making sure Plan A works, especially when it comes to relying on vendors. As we have seen in 2016, the pawn industry has experienced some unsettling events. With new compliance regulations and new legislations, vendors going out of business or being taken over, you want to make sure your vendors are in your corner to help you keep your business running smoothly. 

Demo Request

Follow Us

Contact Us