Posted on 3 August, 2020 by Administrator
We would like to take this opportunity to extend our recognition to our existing educational clients and commercial partners and thank them for placing their trust in the Simbound online learning services during the recent lockdown. With some uncertainty still present regarding how universities will function beginning with September 2020, we are glad to be able to provide you with the assurance that the Simbound team is on stand-by and continues to develop and provide support for the world's first digital marketing simulation platform used in courses delivered both online and offline.
The market feedback we have been getting recently encourages us at Simbound to continue and provide the highest quality educational online services and resources while adapting to changes in the wider education environment such as new teaching conditions that come with both new time and budget constraints.
Today we are opening the discussion on new potential avenues for the licensing of our proprietary simulation content and services. As the pioneers in online education of digital marketing with simulations, we are now ready to present an entirely new licensing model which is a first for the business education industry and is certainly one of the most flexible and high-performance Edtech licensing options available on the market and one which we hope will motivate other educational simulations providers to provide a matching level of service. Clients and other industry colleagues are invited to get acquianted with the approach to licensing and contribute with their views, which we will later include in an extended article.
The proposed pay-as-you-go system is simple yet revolutionary. Basically credits are acquired in advance which then get converted into simulation decisions. Your course participants will consume the new credits as they operate the features of the simulation platform and will be able to measure their investment against their progress and learning more easily. Once the credits run out you (or the participants) will need to buy more in order to continue running the simulation. With the introduction of the new credits-based system, you have the option to fine-tune your software acquisition budget down to a single user action and commit financial resources that perfectly match the real and measured level of usage of our software in a never-before-available manner. This is efficient and transparent and leads to predictable amount of costs which is true to the software-as-a-service discipline.
The good news is that if you have used Simbound before then you can be amongst the first to test this new system right now with your upcoming courses. In case you want to learn how the current licensing of business simulation software works please check out this resource.
The new credit-based licensing model has appeared because of changes we detected in the wider educational environment and is different from the decades-old annual subscription or site-wide software license models where you would normally pay once and secure access to all features of the software for everyone (or some) in the organisation. The legacy licensing models used to work well and still does in some cases but only when there are few alternatives to each software solution. It does, however, pose significant problems to software expenditure plans e.g. a category of users that do not make use of the newly acquired software renders part of the license into a sub-optimal software acquisition. The sunk cost associated with software can easily be avoided from now on with the new credit-based licensing system from Simbound that places the purchasing manager in full control of software-related allowance and all the associated expenses allowing a more precise management fit for the wide host of software usage patterns and increasingly more diverse software user populations. In other words, the introduction of credits will preempt software cost overrun and will act as a stopwatch for educational technology usage and efficiency.
This is yet one more innovation in the making from Simbound an advancement which we believe will define the future of licensing in the educational software industry while it already redefines how licensing is carried out in other software industries. Nobody should be asked to pay for anything except when they are learning and actually making use of digital content. We encourage our esteemed clients to rethink the way they manage their software licensing needs and get in contact with us to find out about how they can start to convert their existing licenses to the new credit-based licensing system. This will help us promote a fair business practice across the entire educational software industry.
We will have more updates soon. In the meantime enjoy this superb summer vacation and hope to see you soon in one of our upcoming digital marketing simulation courses.