https://www.pro-tools-expert.com/pro...d-managed-mode
Following is direct quote from lengthy article - please see above link for the full story
Which iLok Cloud Mode Is Right For Me?
Automatic Mode
• I have a steady, constant, Internet connection
• I do not own any iLok USBs
• The licenses I own are all cloud enabled
Managed Mode
• I have a steady, constant, Internet connection
• I manage my licenses across several iLok USBs and computers
• Not all of my licenses are cloud enabled