Today’s devices are more intelligent and interconnected than ever before – which means the software on those devices has become increasingly valuable. Unfortunately some device manufacturers don’t monetize that valuable software – but Siemens wasn’t going to make that mistake.
Siemens (Siemens Building Technologies) recognized the need to leverage the software on their devices to create strategic advantage and drive revenue. Specifically they needed to:
- License their software to secure higher margins and create new revenue streams
- Deliver better visibility and reporting of margins from value-added partner distribution channels
- Replace homegrown licensing technology with a single, standardized software licensing technology
- Create a Software Monetization platform for generating new and incremental revenue from new business and service models