October 22, 2025
10AM CDT/11AM ET/5PM CEST
Take Control of MathWorks® Licenses
“Analyzer for MathWorks® Licensing is extremely powerful, and very flexible. It is great to have Open iT services there, ready for any questions we have.”
Highlights
- VersionBay wanted to track and associate the usage of MATLAB and its different toolboxes to specific projects.
- The company also wanted to monitor the number of hours used by the team on each version of MATLAB and to increase productivity by standardizing on a specific version of MATLAB.
- With Analyzer for MathWorks® Licensing Level 2 and LicensePlanner, VersionBay was able to not only track the specific MATLAB version but also how long each version was being used.
Company and Business Overview
VersionBay helps other companies reduce the risk and quantify the value of migrating to newer versions of MATLAB. To do so, the company has developed its own internal testing tools to validate numerical accuracy between MATLAB versions, as well as performance and memory profiles across different versions. VersionBay’s business model is based on taking existing MATLAB code, making it work in new versions, and sharing best practices with customers.
Business Challenges
“We have struggled for years to find a good way to measure and track MATLAB usage,” said Gareth Thomas, Co-Founder of VersionBay.
There were two main issues that VersionBay needed to address. The first one was that MathWorks tools were some of the biggest items in VersionBay’s software budget and tracking how many hours of computing time goes into each project had always been difficult. The second main issue was the difficulty in internally quantifying how many hours each consultant used on each version of MATLAB.
Whitepapers
Cost Allocation and IT Chargeback
The most efficient way to create more accountability and awareness of how IT resources are used is to implement a chargeback system.
Software Usage Monitoring and Optimization
Learn how usage monitoring in an E&P IT environment can be beneficial for many stakeholders.
Rising Use of Subscription and Pay-per-Use Software Licensing Models
Have a meaningful software usage metrics and tools to evaluate and plan appropriately prior to making new licensing decisions.
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