by Brianna Crandall — December 17, 2014—Software solutions provider SkyFoundry has announced the introduction of a new financial model that allows its SkySpark operational data analysis software to be paid for on a monthly basis instead of requiring an up-front purchase of the software.
The new subscription pricing model combines the financial benefits of a software-as-a-service (SaaS) pricing model, but still maintains the ability to install the software on-premise. This is a key requirement for many companies due to security concerns of exposing their networks and data to the outside world, notes SkyFoundry.
SkySpark can be installed locally, but now be paid for as if it were a monthly service. The subscription pricing program enables end users, SkyFoundry partners and energy engineering firms to embark on analytics projects without having a big up-front cost for the software, adds the company.
“As we talked to customers and partners we found that while the results and financial returns from deployment of analytics were compelling, often producing payback in less than one year, companies still see a challenge in getting any capital expenses approved. With this new model the capital expense for the software is eliminated,” said John Petze, Principal at SkyFoundry. “By eliminating the up-front software cost we completely change the economics of analytics deployment.”
The new model is in line with the way software is being offered by enterprise software companies, graphic tools companies and office productivity suites, notes SkyFoundry. Implementation costs are still project specific, but SkyFoundry partners can offer options for those to be phased in to generate returns quickly and at every step of the project. In addition, the new program does not require commitment to a specific contract term for the software. The customer can choose to discontinue use at any time, and the payments stop.
SkyFoundry provides software solutions for the “the Internet of Things,” helping customers derive value from their investments in smart systems. The company’s SkySpark analytics platform identifies opportunities for operational improvements and cost reduction in control and equipment systems by automatically analyzing data to “find what matters.”
