TRACT® for IoT Creates Revenue Possibilities Through Its Support of Flexible Service Packages, Pricing and Billing
AUSTIN, Texas – April 11, 2016 – goTransverse, the award-winning leader in innovative monetization solutions, today announced TRACT® for IoT, a new version of the company’s flagship cloud-based subscription and usage-based billing platform designed to bring the Internet of Things (IoT) from buzzword to business reality. TRACT for IoT is built to address the unique needs of IoT-based business models for markets such as connected car, smart home and logistics, with flexible monetization and packaging features found in no other solution.
IoT, the growing network of physical objects that are connected to the Internet, is having significant impact on the market and will accelerate over the coming years. The McKinsey Global Institute forecasts the segment to generate up to $11 trillion annually by 2025, roughly 11 percent of the global economy. Many companies at the forefront of IoT investment have reached a point where they need to determine how best to monetize user activity and device data and recognize that revenue in a way that meets legal and regulatory requirements.
“Monetization is incredibly difficult in today’s connected business ecosystems. The vast amount of usage data generated by IoT deployments creates opportunities for new dynamic monetization and pricing models,” said James Messer, CEO of goTransverse. “With the right IoT billing engine, companies can transform data from smart, connected products into monetizable events. There’s a reason why several of the largest home security and connected car companies are using TRACT – it is the only cloud-based billing platform that works seamlessly alongside existing software infrastructure, making it easy manage and monetize usage-based IoT event transactions.”
Unlike other billing solutions, TRACT for IoT provides a cost-effective, adjunct billing solution suited to companies with existing systems that are not able to scale to the volumes needed to support IoT or meet critical rapid time-to-market demands. TRACT supports an unlimited number of items in a product catalog, and its multi-tenant capabilities enable rapid deployment and configuration to bring new services to market quickly and efficiently.
Only TRACT supports flexible monetization and packaging solutions – from one-time purchases and simple subscriptions to more complex “pay as you consume,” real-time and metered packages. TRACT for IoT leverages goTransverse’s industry-leading domain experience in architecting billing and revenue management solutions for many of the world’s largest enterprises in the most demanding environments.
TRACT for IoT is available now. For more information about TRACT for IoT, visit http://www.gotransverse.com/solutions/tract-internet-things
goTransverse powers leading-edge companies who push conventional boundaries with disruptive product and services offerings. The TRACT® platform supports the monetization of any combination of one-time, subscription, and usage-based offerings with near real-time metering, rating and native revenue recognition. The result is top-line revenue growth, faster time-to-market, visibility into revenue streams and operational savings. Our customer base includes publicly traded and privately held companies typically technology-focused in cloud solutions, digital entertainment and media, Internet of Things (IoT), logistics and hosting/managed services. Visit www.gotransverse.com to learn more.
SHIFT Communications for goTransverse