Revenera, producer of leading solutions that help technology companies build better products, accelerate time to value and monetize what matters, today announced that it is the first vendor to successfully combine usage intelligence and monetization in a single platform.
“Software monetization is about more than software licensing and enforcement; it’s also about understanding actual product and feature usage and modern monetization models. Product insights enable technology companies to make better, data-driven product decisions and give compliance teams actionable data to generate revenue from unlicensed use and ultimately help drive modern consumption-based business models,” said Nicole Segerer, vice president of product and marketing at Revenera.
The recently released IDC Usage Intelligence Vendor Directory – June 2020 report (Doc # US46248020, June 2020 (download available here) looks at the value of usage intelligence tools, which collect and analyze actual product usage metrics to help software suppliers understand user engagement and interaction; the report also offers a matrix for major supported functionality. The report shows that Revenera is the only vendor in the directory to offer all major functionalities out of the box, including usage tracking, usage monetization, product intelligence, entitlement management, compliance management, in-product messaging, licensing management, and electronic software delivery and updates.
“Software companies wanting to maximize their value to customers need solutions to understand, manage and react to their customers at scale. Today’s Usage Intelligence solutions can enable better product features, product bundles, business models, and ultimately increase customer success while lowering revenue shrinkage.” said Mark Thomason, Research Director: Digital Business Models and Monetization at IDC. “Companies are wise to evaluate vendors such as Revenera which can transform usage data into opportunity.”
Revenera, a division of Flexera, added advanced usage intelligence capabilities to Revenera’s already award-winning monetization platform in early 2020. The most common use cases for Revenera’s unique combined usage and monetization platform empower technology companies to:
- Inform and enable flexible monetization models: Software users, who once paid for the right to use a product, now pay only for what they actually use or they prefer the consistent spending level offered by subscriptions. Implementing new—or multiple—software monetization models allows suppliers to understand and meet the changing needs of users. User-based or floating models; subscription or usage-based; pay-for-burst or pay-for-overage; and additional models allow suppliers to provision users, change use rights, and activate or deactivate software. This flexibility marries customers’ needs with operational efficiency through seamless integration with business systems (ERP or CRM) and billing systems.
- Build better products: Software suppliers must be able to anticipate ever-expanding customer expectations in order to build successful products, deliver products on time and within budget, and maintain a competitive advantage. A data-driven approach provides product managers with the actionable insights they need. With software analytics, companies get the benefits of a continuous feedback loop, keep products on the right track, and gain additional data points with each new development cycle.
- Turn software overuse and piracy into revenue: Software overuse as well as pirated software continue to drain revenue at alarming rates. For example, the global commercial value of unlicensed software is an astonishing $46.3 billion*—indicating significant amounts of hidden revenue. With compliance analytics to detect and identify infringing organizations and a data-driven approach to convert them to paying customers, software vendors are generating millions of dollars in software licensing revenue and building long-term customer relationships with recurring revenue and expansion opportunities.
*Source: BSA Global Software Survey