The proliferation of intelligent, connected devices and the business solutions made possible with software present a wide array of lucrative opportunities for device manufacturers to capitalize on the Internet of Things (IoT). Device manufacturers can leverage software to electronically control device capacity and capability, increase margins, defend against competitive threats and significantly increase the value their solutions provide to customers via machine-to-machine applications.
The challenges: capitalize on the Internet of Things
- Can you quickly target new markets, adapt to changing market conditions and monetize software with innovative and flexible new licensing, pricing, and packaging models?
- How can you leverage software to differentiate and protect your offerings in highly competitive markets?
- Can you efficiently uncover new revenue opportunities from up-sell/ cross-sell activities and new licensing, pricing, and packaging models?
- How can you reduce manufacturing and inventory costs by leveraging electronic software licensing?
- Can you remotely monitor, diagnose and service connected products to provide more value-added and proactive support to your customers?
The solution: leverage the power of software
Flexera Software has long been the market leader in helping application producers configure, monetize and track their software. With intelligent device manufacturers increasingly turning to software to deliver more value, differentiate from low-cost competitors and develop Internet of Things applications, they require these same capabilities. Flexera Software solutions enable device manufacturers to:
- Drive topline growth and recurring revenue–monetize your intellectual property (IP) by supporting an array of pricing and licensing models (e.g., concurrent, subscription, usage-based) to meet varying market needs and optimize cross/up-sell opportunities and recurring revenue by tracking which customers are entitled to which products
- Reduce Costs–control and provision the capabilities and capacity of devices electronically and reduce manufacturing and fulfillment costs. Deliver remote device monitoring and support
- Deliver Excellent Customer Experiences–provide 24x7 customer access to software products and licenses through a self-service portal, establish direct relationships with customers through multiple tiers of distribution
Flexera Software Internet of Things solutions provide intelligent device manufacturers the enabling capabilities to develop profitable software businesses based on Internet of Things applications. Industry analysts predict billions of internet-connected, software powered devices controlled by software licensing and entitlement management systems that open a myriad of new revenue opportunities for innovative companies.