The projected increased investments in Software License Management (SLM) solutions in 2024 reflect a growing awareness among organizations of the importance of efficiently managing their software assets. But as enterprises ramp up their SLM spending, a substantial number of organizations realize they don’t have the resources to effectively implement and manage these solutions. Managed IT
Take Control of MathWorks® Licenses
- 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.
“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.
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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Forrester has named Open iT among notable vendors in Software Asset Management (SAM), according to its recent report, The Software Asset Management Solutions Landscape, Q3 2023. We believe this recognition stands as a significant milestone for Open iT and underscores the growing importance of SAM solutions in today’s organizational landscape. The increasing adoption of SAM
Most of our customers are in industries that make extensive use of engineering and specialty software, where the management of software licenses and entitlements cannot be left to chance and need to be closely monitored. As a result, most of their software asset management (SAM) policies, processes, and support are well managed and mature. This