ThingWorx—PTC’s market-leading Industrial Innovation platform—delivers tools and technologies that empower businesses to rapidly develop and deploy powerful Internet of Things (IoT) applications and augmented reality (AR) experiences. It makes solution development simple, time-to-market fast and solutions built on the platform more compelling.
ThingWorx has been growing fast as PTC continuously adds more partners who choose this innovative platform to develop and connect their IoT solutions. In preparation for this growth, PTC needed a robust, flexible and scalable solution for monetization and compliance management and chose Flexera.
Monetization Requirements in an IoT World
ThingWorx is used by PTC partners to develop their IoT offerings as well as manufacturers who run their IoT processes based on the platform. With the IoT evolving and growing at a staggering pace, PTC needed to leverage a monetization platform that could:
- Manage, track and securely automate subscriptions and other monetization models
- Measure and manage devices, users, API calls and other metrics as a basis for monetization
- Provide robust and flexible support for PTC’s exponentially growing partner and customer ecosystem
Also, scalability in a very dynamic environment was a key requirement. The ThingWorx platform manages workloads between multiple servers that can be added as needed. They needed to provision licenses in a flexible and secure manner between multiple servers.
“When choosing our monetization platform, we were looking for more than just a licensing tool. We wanted better insight into our customer base, offer flexible and scalable monetization models and add the automation needed to run our growing software business. Flexera is the strong partner we need to deliver on these strategic goals.”
Mike Tresh, Product Management Director, Platform
Building on a Strong Monetization Standard
Besides PTC’s main goal to monetize and protect ThingWorx, the company also wanted to standardize on a strong monetization platform that could be used for other PTC offerings such as its Windchill product lifecycle management (PLM) system. PTC wanted a central monetization platform that could provide a complete view of their customer base and monetization models and ease processes related to entitlement management, subscription management and compliance control—for on-premises and SaaS offerings.
As an industry leading software supplier, PTC had set clear, strategic goals. After meeting with the Flexera team, PTC discovered that the Flexera Monetization Platform was perfectly positioned to deliver on these goals:
- Flexible monetization and compliance models—A platform able to support both perpetual and subscription models and work with different metrics as a basis for monetization.
- Scalable support for future SaaS products—A solution that can handle user and use right provisioning for SaaS applications while feeding back usage and entitlement information to the central monetization platform.
- Better insight into customer base—In-depth customer information across different product lines for consistent and automated software monetization processes.
- Automated subscriptions and renewals—The ability to manage and automate subscriptions and renewals.
- A frictionless user experience—Automated and easily managed monetization and software delivery processes, based on customer entitlements. Easy to handle for internal operations teams, but also for partners and customers using a self-service portal.
PTC implemented Flexera’s Software Monetization platform, using FlexNet Operations as a central entitlement management back office and FlexNet Embedded as the flexible licensing technology integrated in ThingWorx. The Flexera Integration Framework was used to create seamless integration with PTC’s existing back-office workflows to manage customer entitlements. Flexera’s Monetization Platform supported all of PTC’s outlined needs right out of the box in a standard setup. And throughout the entire process—from strategic planning, to design and implementation and training—Flexera Global Consulting Services fully supported and aligned with the PTC team. The result this collaboration was a first-pass success with zero business downtime.
Today, ThingWorx seamlessly leverages Flexera’s software monetization technology. In its on-going effort to provide an improved customer experience and to reduce the home-grown solutions still used in their other products, PTC will continue to move existing products onto the Flexera platform. That will give the company the comprehensive view on all its customers on all its products and the usage insights needed to successfully grow its business.
How are you monetizing your strategic software products? Do you have the right technology in place to monetize effectively and measure success?