Navigate to Settings -> License -> ITIM/DEM or NTM.

Click Extend button in the License details popup.

Click on the Installation ID  and e-mail the copied Installation ID to cloudmon-support@veryxtech.com. 

Enter the License Key provided by cloudmon-support@veryxtech.com and click on Extend License.

After a successful license update, you will be able to see the updated information in the settings -> License.