Software development is complex and laborious even with all the tools and technologies available. Thus, for a software developer, the end goals are to have a useful product and to monetize it to recoup the time and money spent on its production.
But since the economy is still not at its best, it is vital to have software that matches the changing environments of the end-users. In the current market setting, being flexible can make a big difference. For example, you should be able to change your licensing process and determine how to package your product—individually, as a suite, or split it based on features—so that you can match the market’s needs and serve other market sectors.
Maximizing profitability
One of the ways to reach new markets for enterprise software is to offer flexible licensing solutions. Following this trend allows the developer or software manufacturer to optimize its investment in the project.
You can adequately manage the production costs and improve the experience of licensing your software by integrating an entitlement management system into the implementation of the software-licensing program. When you have comprehensive entitlement management, it becomes easier to minimize operational costs, improve the operation processes, help your sales partners, improve end-user experience, and increase your product’s visibility.
Reaching your software’s potential
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Automate the licensing process
Flexible licensing and pricing models can maximize the full potential of your software. One of the effective ways to achieve this is through a comprehensive entitlement management solution. Using the program can help you automate the licensing process. You have a centralized location to store and access the license and permissions data. Once the user provides all the necessary information, it becomes easier to use the automated program. The user can set it up to handle product activation, general software renewal reports, and take care of audit reporting. Moreover, the enterprise can automate expiration notices, renewal messages, compliance reporting, license delivery, and license fulfillment.
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Offer versatile packaging
You may have a suite of related software applications, an individual software product, or a program that integrates various features. Although there will be consumers looking for a suite, some consumers only want a specific application or selected parts. Thus, to improve your profit, you should be flexible and cater to the requirements of your target consumers. You have several options to deliver your customer’s software package with various licensing models, such as subscriptions, on-premise, cloud-based, hybrid, perpetual, or user-based.
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Increase the visibility of your software license
With an entitlement management solution, you can help your sales partners and end-users perform their tasks. For example, they can manage cancellations, software upgrades, renewals, and activation by themselves. In addition, as an independent software vendor, you help your consumers experience tasks that they often request their IT department to do.
With modern software monetization programs and related applications, you increase access to your product with flexible licensing models and protect yourself from copyright infringement through an entitlement solution that tracks users of your product.
