My esteemed colleague and cloud security specialist Jay Heiser made an interesting post today on the apparently-failing Contract Lifecycle Management vendor Mumboe. Mumboe earned much of its customer base by giving its SaaS-delivered solution away. Well, according to an article this week in Law Technology News, that business model didn’t generate enough cash to keep the business going, and so Mumboe is returning data to its clients.
Heiser makes some great points on the importance of keeping a watchful eye on SaaS vendors, because the risk of data and capability loss due to failure is much higher than if you install on premise. And clearly there were signs, such as lack of updates on Mumboe’s website. But perhaps the most important lesson of all is, if something looks too good to be true . . aka free in a market of products you pay for . . . . beware!
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