Flexera was recognized as 2018 IoT Enablement Company of the Year for the Enterprise Market by IoT Breakthrough, an independent organization that recognizes top companies, technologies and products in the global Internet of Things (IoT) market.
“Today’s IoT companies are now challenged with offering software too, and moving to subscription models to monetize their products,” said Brent Pietrzak, Vice President of Producer Solutions and Strategy. “We’re honored that IoT Breakthrough recognized Flexera and our FlexNet Customer Growth solution, which helps IoT companies better understand who their customers are, and how those customers are using their products. Visibility into this type of information is the key to help customers succeed and grow recurring revenue.”
The IoT Breakthrough Awards program recognizes innovators, leaders and visionaries from around the globe in a range of IoT categories, including Industrial and Enterprise IoT, Smart City technology, Connected Home and Home Automation, Connected Car, and many more. This year’s program attracted more than 3,000 nominations from companies all over the world. All nominations were reviewed and evaluated by an independent panel of experts within the IoT industry, with the highest scored nomination selected as winner for each category. “We’re thrilled with the volume of award nominations submitted in this year’s program, and the superb quality of IoT companies, products and technologies nominated for the awards program,” said James Johnson, Managing Director of IoT Breakthrough. “Standing out from the thousands of nominations to “break through” as IoT Enablement Company of the Year, two years in a row, is quite an achievement. We congratulate Flexera on the success of their FlexNet Customer Growth solution, and well-deserved industry recognition. We also look forward to seeing Flexera’s continued success throughout 2018 and beyond.”
Insight into Install Base and Customer Value
Successful IoT companies have transformed their business and offer software and digital services alongside their hardware products. In order to monetize these new products and services, they need to know exactly who’s using their products and how much is being used. They also have to build strong customer relationships to continuously deliver value, provide security updates and patches, and help customers develop with new, innovative offerings. FlexNet Customer Growth, a module of Flexera’s IoT Monetization platform, gives IoT companies actionable customer insight and the data they need to grow their business. A dashboard gives IoT companies immediate insight into Account Health, Renewal Health and Consumption, and indicates upsell potential and attrition risk.
“It’s more important than ever for companies that produce IoT devices and software to be proactive with the insights they have into customer usage, so they can support their customers and proactively increase the number of subscribers,” added Pietrzak. “FlexNet Customer Growth strengthens retention and loyalty, keeps renewal rates solid, and helps companies grow their IoT businesses.”