Why Software Licensing Can Benefit from the Internet of Things
Are you into the Internet of things? If you haven’t heard this phrase, you will. Machine-to-machine communications are gaining attention in the global market and the evolution towards the “Internet of things” is a primary focus for Flexera Software. The software licensing company thus recognizes the business opportunities that continue to expand for businesses in all industries.
In a recent Flexera Software blog, Steve Schmidt, vice president of corporate development at Flexera, discusses this evolution in a company video. He not only outlines opportunities associated with this phenomenon but also provides best practices that allow for taking advantage of these opportunities.
In essence, M2M and embedded software licensing allows for the provision of powerful capabilities to support a wide variety of business models. Many new and additional devices are being added to the Internet on a daily basis, many of them bringing intelligence with them. These devices can complete processes work, share information with other machines, and more.
However, there is one step that many companies are considering at this point: adding licensing or policy management into their devices and systems. One of the reasons they are looking to do this is to increase the revenue streams associated with those devices.
The desired revenue is increased through the use of feature clipping or control, meaning features associated with a particular device can be turned on or off depending on the needs of the user. This provides vendors with the ability to reach additional users with M2M technology, particularly those who felt the capabilities were lacking in the past. This was especially true in situations where the capabilities were extensive, yet the ability to control them was not.
Schmidt shared, “So for example, the number of tests a medical device can run or the number of pictures, the resolution of pictures that an imaging piece of equipment can operate in increases. There are also many other business models that can be associated with these devices. At the same time, because they can control the feature set and capacity of the device, they can reduce their manufacturing cost.”
At the end of the day, the Internet of things is changing how we see and manage M2M devices. Accepted limitations are no longer limitations and opportunities for revenue generation are driving adoption and decisions. For those in software and smart device development, it means the dawn of new growth potential with significant returns.
Edited by Blaise McNamee