The Technology Headlines

NEOCOR HOLDINGS: OPTIMIZING SOFTWARE ASSET MANAGEMENT AND LICENSING

Yogesh Padsala
Chief of Software Development
NEOCOR HOLDINGS

Organizations across the globe are looking for ways to manage digital assets.Blockchain is a disruptive approach to managing Software license. It can be useful for software publishers and enterprises to ensure data protection, ensure compliance and tracking of software licenses on desktop products under Windows, Linux and MacOS. Our technology was designed to work alongside your on premise, distributed and cloud environments so you can easily bring the license information all togetherin one place. Think of this as a great way to manage licenses.

One such method to improve efficiency is through the usage of Decentralized Applications (dapps). Dapps is a new type of software and essentially a decentralized distributed list of records. These blocks are cryptographically linked to each other and contain a hash of the previous block. As the data in such a system is not centrally located, a single point of failure does not compromise the entire system. Also, by design, a blockchain is resistant to modification. This makes it more resilient to external attacks amongst providing other benefits.

Neocor’s Approach

Neocor aims at leveraging this technology to its maximum potential by offering the first of its kind, autonomous cloud solution for software asset management and licensing.  The company’s usage of distributed ledger technology (DLT) that is based on blockchain helps save time and money by supporting enterprise class processes, providing privacy, and streamlining operations. Also, through extensive market research, Neocor has discovered that deploying such a method for managing and distributing software licenses and software keys would help ease trust, transfer and security issues. The company’s breakdown of this method involves three major components.

Eliminating manual reporting, streamlining audits, reducing the complexity of distributing, and tracking software utilization is the first major aspect of the application. Neocor optimized the platform to show details such as cloud subscriptions, the number of instances the software is installed etc.

The next component involves the usage of smart contracts to enforce license terms. The smart contracts use tamper proof digital signatures and cryptographic programming to provide a decentralized consensus.  Don’t overspend on software licenses that you don’t use.

The third and final defining aspect of the company is its self-sovereign identity approach to optimize license consumption verification. This refers to the storage of an employee user identity data and granting users get full or partial access. By doing so, you can deploy a new security standard to address the challenges of the Web 3.0 and enable you to directly send the identity data to the concerned party for validation, without having to rely on a central repository from which the data has to be fetched.  A software wallet provides further user identity verification by keeping track of the type of products that are installed, and provides greater control of subscription term, usually a month or year.

The problem and the fix

Software publishers have started giving more importance to software compliance audits in order to facilitate upselling. Unfortunately, most CIOs neglect compliance related concerns until they become too big. It is estimated that as much as 37 percent of software used in business operations are unlicensed. This creates a cause for major concern as it increases the probability of malware infections. Malware infections cost companies nearly $359 billion a year.

In order to curb such issues, Neocor has developed technologies that have key features in them. Easy detection and discovery of software, automated license reconciliation and optimization, optimal contract, and license management are all part of the company’s vast feature set. Neocor even offers an integrated platform for software asset management (SAM) that is delivered via the SaaS method (software as a service). Most SAM providers manage all licensing on a centralized server. However, Neocor offers license management for a decentralized environment with the helpof blockchain. Moreover, by implementing a robust software asset management system, research shows that organizations can save as much as 30 % in annual software costs. And given the quality of Neocor’s SAM, cost containment can also be considered a major feature of the company. All of these factors have made Neocor Holdings a big player in the software and license management industry. The company’s cutting edge technology and expanded functionality has set it apart from the rest of the competition.     

Neocor’s vision for future

Neocor designed and built a platform with a unique architecture capable of processing thousands of license transactions per second. But, the company's success in releasing a Software as a Service solution to the market, hasn’t stopped it from seeking more progress. Neocor works with the leading computing and blockchain platforms on the market to deliver license compliance as a service. In the next 6 months, the company also plans to set up a partner program for software publishers and consulting firms to enable faster time to market for our customers. With its extensive experience in software licensing, team of industry and technology professionals and expertise in blockchain technology, Neocor is well positioned for its next phase of growth.

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Neocor even offers an integrated platform for software asset management (SAM) that is delivered via the SaaS method (software as a service).




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