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.”
Gareth Thomas, Co-founder of VersionBay


VersionBay is a consulting company based in the Netherlands founded in 2018, which uses MATLAB and toolboxes to support their customers. VersionBay wanted to track and associate the usage of MATLAB and its different toolboxes to specific projects. This would help with internal purchasing, cost sharing, and refining business needs. The company also wanted to monitor the number of hours used by the team on each version of MATLAB. The goal was to increase productivity by standardizing on a specific version of MATLAB.

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.


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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