Did you know that the industrial and factory automation industry segment is expected to reach $295 billion by 2025?
The U.S. Commercial Service, export promotion arm of the Department of Commerce’s International Trade Administration, recently highlighted the demand and development of the industrial and factory automation (Learn more).
Here are the key themes:
Increasingly more companies are adopting Industry 4.0 trends & IoT enabled smart tech.
Connectivity and convergence are the keys to manufacturing.
Growth rate of over 8%
“Automation equipment includes motors and actuators, relays and industrial control devices (such as motor control centers, programmable logic controllers (PLCs), and more), and sensors and instruments (for monitoring and controlling process variables like temperature, pressure, viscosity, etc.).”
We are proud to have helped many industrial, factories and automation companies over the years with managing their engineering licenses.
Make sure that with these growing demands, you are able to right size your engineering license inventory. With such explosive growth, it is crucial to make sure your team has the tools they need.
Considering writing your own scripts and think you will save company resources? Remember that there are associated opportunity costs. Would not it be easy to just hire technical experts who have built a comprehensive solution over the last 16 years?
Moreover, since License monitoring is not your core competency, developing a solution anything like ours would be close to impossible. We have invested a lot of resources, spoke to many customers about their needs and our solution has evolved over the years. We are proud of LAMUM today.
Make sure your team is prepared and knowledgeable. One of the challenges we have heard those who have written their own scripts is that they have lost hours if not days of work caused by automatic crashes. Something that you could have potentially avoided with a well-developed engineering license monitoring tool.
It’s also crucial for users and administrators to feel comfortable and secure. Do you know which applications are actively used vs. idle? Monitoring the actual true usage of applications is important and will help to ensure better effective management of resources. LAMUM can also help set up various user levels and permissions. Our reports are also very helpful here.
Contact us to learn more and see if we can help you better manage your expensive engineering resources.
Looking to better understand how the engineering and R&D teams are using engineering software? Increasingly more companies are having open conversations about data-driven analytics and decision making. Is your company or organization working on better monitoring engineering licenses?
Data about engineering software usage can help company leaders make important data-driven decisions. It’s important to consider the best ways of capturing and reporting on meaningful data about engineering spend and license usage (whether it’s CAD, CAX, EDA, PLM, Simulation, Analysis and many others).
Having such data will help teams and leaders make decisions about the best ways to learn and improve when they are using expensive software tools and how to best manage and navigate their schedules.
How Can Managers Improve their Data-Driven Cultures?
Make sure the data is highly visible – for example, we have seen many organizations set up dashboards where these reports are easily accessible.
Be smart about reports – Avoid unnecessary reports and spreadsheets and use a tool like LAMUM that will help your organization save time and resources.
Changing mindsets – Be open to looking at data about usage in different ways – Your team may be using engineering software differently than you thought.
Remain engaged, involved and excited about the transparency and accountability
They address that many machinery shops are looking at their margins and trying to optimize their processes. Did you know that one of the areas where teams and companies can save resources on is the software – whether it’s CAD, CAE, PLM, EDA, etc. It’s important to purchase the right number of engineering licenses where the team remains productive while also not over-purchasing to save on margins.
The blog addressed at balancing part quality, tool life and cycle time:
Understand, analyze and optimize your toolpath
Consider your workflow
Identify challenges and problems
Looking at optimizing processes can go beyond looking at parts and at the whole organizational spend, which includes software.
Make sure that your organization stays efficient and competitive!
IDC has released a report that the budget spend on digital transformation has not been as largely impacted as originally predicted with the COVID19 impact. In fact, global spending on DX technologies and services is forecast to grow 10.4% in 2020 to $1.3T. (Check out New IDC Spending Guide Shows Continued Growth for Digital Transformation in 2020).
The industries expected to see the strongest growth are:
Construction (16.3%)
Healthcare (15.7%)
Managers are instead focusing on making smarter decisions about how to best optimize their engineering software spends and environments.
Here at TeamEDA, we have seen a similar trend – we are still having daily conversations about how companies can better manage their engineering licenses and monitor usage. We have helped many companies save an average of 20% on their engineering software spend.
Many companies are realizing the value of an engineering license monitoring tool. They also understand how crucial it is to make intelligent decisions about their engineering software. Many larger companies are also considering the impact cross-enterprise.
Ask us how we can help you bring more transparency, visibility and reduce costs of your engineering software.
Can engineering software management help your company make smarter business decisions.
The pandemic has forced many companies to face budget cuts. Is this a good time to consider how your company is using expensive engineering resources? Can you save money on your engineering licenses?
LAMUM can help you be proactive in controlling procurement and usage of your expensive engineering resources. Ask us how we can help you save 20% on expensive engineering software.
Are your engineering employees using all the tools available?
Having all the needed information when negotiating contracts is crucial. This is where our License Asset Manager is so helpful.
But do users who have licenses actually use them?
Avoid wasting money on technology that is not being used. Take a look at our Usage Monitoring side of our product.
Which software applications are needed and being used?
How frequently are these tools used?
Is there a reason why certain engineering tools that the company has invested in are not being used?
Are there any idle licenses?
Take a look at our rightsizing guide to make better decisions about your engineering spend.
How much is your CAD/CAx/EDA/Simulation/PLM/Math costing your team, department or company? Engineering and manufacturing companies spend $1,000’s on expensive engineering software year after year. But do they have a clear picture of where it goes or whether it is effectively spent?
Engineering and Manufacturing companies spend $1,000’s on expensive engineering software including CAD/CAx/EDA/Simulation/PLM/Math, year after year, without a clear picture of where it goes or how effectively it’s spent.
AtTeamEDA, we provide a world-class network license monitoring and reporting platform, integrated with a engineering Software Asset Management tool for effective visibility.
Request a demo now and see how LAMUM can provide complete transparency for software spend and learn how you can save 20% on software spend.
