5 tips to monetize the internet of things

If you’re responsible for in manufacturing intelligent connected devices, then you know the playing field has drastically changed in recent years. Churning out new physical devices to try and keep up with changing consumer expectations and demands for flexibility is no longer sustainable.

Instead, IoT manufacturers must look to software solutions to reduce costs while maximising customer satisfaction and revenue.

Revenera is a software company specialising in software installation, software composition analysis, and software monetization solutions.  Its IoT Monetization Solutions empower businesses to create new revenue streams, protect their IP, and unleash the full value of their products and services to enhance customer experiences and build brand loyalty.

In this eBook, Revenera provides actionable advice for how IoT product and service providers can unleash the full potential of their solutions.

Each tip is backed up by a real-life use case of how organisations deployed Revenera’s software monetisation platform to unlock these opportunities.

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Revenera Monetization Monitor Report 2022

In 2022, the fourth year of Revenera’s Monetization Monitor research, respondents are still in the
midst of moving to subscription monetization models and SaaS deployments, and continue to see
the biggest growth opportunity in these areas. With reliance on perpetual licensing and on-premise
deployment models also holding strong as part of a hybrid approach, producers need clarity into how
their software is being used in order to make informed product roadmap decisions.

The driving force behind changing entitlement management and licensing strategies in the next
12–18 months is to “better support pricing and packaging changes.” In the move to secure recurring
revenue and optimize the entire quote-to-cash (Q2C) process, software suppliers must support
multiple monetization and deployment models in entitlement management systems. And they need
to support how customers want to pay for and consume software, not only as subscription/term
monetization models maintain their popularity, but as interest in consumption and metered
models grow.

Great opportunity exists for software suppliers to strengthen their monetization practices. Only about
one quarter of respondents feel that they can gather product usage data very well. Fewer than one
in three respondents feel that pricing is totally aligned with the value they provide to customers. By
improving these metrics and making informed decisions based on them, suppliers can move toward
their revenue goals.

The present report takes the pulse of software producers, offering benchmarks to help technology
companies manage the complexity of hybrid monetization and deployment models. It illustrates the
importance of data and analytics in providing insights into utilization, adoption, engagement—and
ultimately success for software suppliers and their customers.

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Drive Recurring Revenue with Software

Technical equipment used by enterprises in many verticals is becoming increasingly sophisticated, with software capabilities now a key aspect of most industrial assets. So, how can new commercial models and new layers of value be added to the provision of assets?

Software remote management techniques can enable the updating of on-board software from remote locations and also potentially enable new charging models and value propositions for end-users.

In this analyst report you will find:

  • Ways to manage software on-board industrial assets
  • The benefits associated with remote software administration
  • Key enabling technologies that are required to support new emerging software-centric propositions.

IoT is driving enterprises toward a software-centric future and therefore, opening the door of opportunity for new kinds of vendors to intermediate in established value chains, but how?

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