WALTHAM, Mass.--(EON: Enhanced Online News)--The leading software intelligence solutions provider, V.i. Laboratories, Inc. (“V.i. Labs”), today announced the continuing validation of software intelligence to drive revenue for software vendors. In addition to a sample of customers reporting gains of new license revenue of more than $100 million since 2011, V.i. Labs has expanded its customer base into document management, risk management, plant design, building information modeling, and marine design and engineering since the start of 2012.
“Using software intelligence has enabled us to add an additional ten percent to our annual revenue for the last few years”
“The ability of our customers to increase their revenue by an average of 10 to 25 percent highlights the power of CodeArmor® Intelligence,” said Joseph Noonan, President and CEO, V.i. Labs. “This value proposition has allowed us to expand our business with existing customers and to penetrate new ISV markets.”
According to the Business Software Alliance (BSA) and IDC’s annual Global Software Piracy Study, published in May 2012, the global piracy rate in 2011 was 42 percent, with the commercial value of software theft greater than $60 billion. This is a new record that underscores the significant revenue opportunity associated with identifying the adoption of pirated software and addressing this through a targeted and organized initiative.
“Using software intelligence has enabled us to add an additional ten percent to our annual revenue for the last few years,” said the CEO of a V.i. Labs customer that sells electronic design automation software.
Amy Konary, Research Vice President, Software Licensing, Provisioning, and Delivery at IDC, has recently completed a white paper, sponsored by V.i. Labs, on software intelligence. She interviewed V.i. Labs customers and will present the findings of “Information Is Power: Combating Software License Misuse and Overuse with Intelligence” in a webcast on Wednesday, June 20, 2012 (to register for this event, please visit: http://info.vilabs.com/IDC).
“Most ISVs today would like to recover revenue lost to software piracy, however they aren’t sure where to begin. Without knowing the size or extent of the problem, as well as the location, it can be difficult to pull together the resources and support needed to combat it,” said Konary. “With V.i. Labs, software vendors are better able to understand the magnitude of the piracy opportunity, where it is coming from, and who is pirating the software. One customer we interviewed is recovering tens of millions of dollars by using CodeArmor Intelligence.”
About V.i. Laboratories (V.i. Labs)
V.i. Labs offers software providers solutions to identify, track, and create actionable intelligence on the use and misuse of their software to increase revenue. Its CodeArmor® platform is used by leading software providers to recover revenue lost to unlicensed software use, gain compliant customers and globally reduce the pirated use of their software applications. Customers have identified more than $2 billion in revenue recovery opportunities and are adding an average of 10 to 25 percent additional revenue to their bottom lines. V.i. Labs is privately held and headquartered in Waltham, Mass. For more information, please visit www.vilabs.com, follow us on Twitter (@vilabs), or read our blog, Code Confidential.
V.i. Labs also sponsors the Software Piracy Initiatives Forum on LinkedIn. The forum was created to give software vendors a venue for discussing these issues and to share their experiences to minimize piracy’s impact on the industry.
©2012 V.i. Laboratories, Inc. All rights reserved. V.i. Labs, the V.i. Labs logo, and CodeArmor are trademarks or registered trademarks of V.i. Laboratories, Inc. All other product and brand names herein are trademarks or registered trademarks of their respective owners.