On January 25th 2018, the Public Servants Association (PSA) reported, “a preliminary review of company documents has shown ‘complete collapse’ of corporate governance at Steinhoff.”
Steinhoff lost R194 billion in value in the fallout of those allegations and the PSA says it may have cost the Public Service Pension Fund R12.5 billion.
Governance is a vital safeguard for stakeholders and where it is ignored, flouted or disregarded, there is usually a damaging outcome for the business and individuals and entities invested in it.
The practice of Software Escrow is recognised by the King Commission, the Institute of Directors and the wider business community as best practise for good governance.
For an idea of what Software Escrow is and how it works, why not watch our 2 minute animated explainer here? https://www.youtube.com/watch?v=yVXmzshh5J8&t=5s
If you would like to chat further, please don’t hesitate to leave me a message and I will get in touch as soon as possible.
Let’s start a conversation that saves your organisation.