With data loss affecting businesses every second and estimated to price businesses $265 billion by 2031, it’s no wonder distributors are now offering buyers the most recent type of warranty that includes a cybersecurity guarantee. These warranties are designed to mitigate the financial risk of cyberattacks, and shift liability to the vendor. They often fill the gaps left by insurance.
Nevertheless there are many different warranties for cybersecurity are the same. Certain warranties come with strict terms that could cost your company much money if you don’t study the fine in the fine print. The majority of warranties for technology, for instance, limit payment based upon the amount that the vendor invested in their solution. This is not a great idea as the value of one record in Cohesity FortKnox may be more than the licensing costs paid to a technology company.
This is a big warning because the cost of losing productivity of employees can be higher than the total amount of time the software was utilized during that period. This is a big warning because the cost of reduced productivity for employees could be much higher than the total amount of time the software was used for that period. By incorporating representations and warranties that are focused on the legal processing of data to the most distant division of a company can minimize the risk associated with M&A deals.
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