The Internet of Things is on the agenda of every manufacturer. As part of their IoT strategy many manufacturers move from a one-off hardware sale to a recurring revenue model. Software Monetization is playing a key role in this transformation and IoT solutions will only be successful if software is protected, monetized and continuously updated. Let’s take a step back. Which software are we talking about? An IoT solution does not use “one” software, there are different types that are being developed and maintained by different groups in an organization. Let me take you on a virtual tour through the software units in a manufacturing company.