Financial Data and Key Metrics Changes - Annual revenue for fiscal year 2025 reached $978 million, representing a 30% increase year over year, with earnings per share of $5.72, up 16% from fiscal year 2024 [5][19] - Fourth quarter revenue was $253 million, an 18% increase year over year, with earnings of $1.51, exceeding the high end of guidance [6][20] - Annual recurring revenue (ARR) grew to $852 million, reflecting a 2% year-over-year growth, maintaining a 100% net retention rate [6][18] Business Line Data and Key Metrics Changes - The growth in ARR was driven by multiple products, including ShareFile, OpenEdge, WhatsUp Gold, and DevTools, with ShareFile contributing significantly to the overall revenue growth [18][19] - Operating income for the fourth quarter was $96 million, resulting in an operating margin of 38%, which exceeded internal expectations [20] Market Data and Key Metrics Changes - The integration of ShareFile was completed successfully, contributing positively to the overall performance and customer retention [8][9] - The company opened a new facility in Costa Rica to enhance tech support and customer success, indicating a strategic move to support regional growth [12] Company Strategy and Development Direction - The company is focused on continuing investments in AI projects, which are expected to drive future growth and customer commitment [8][32] - The M&A strategy remains selective, targeting infrastructure software vendors with solid technology and a stable customer base [15][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the FY 2026 guidance, anticipating revenue between $986 million and $1 billion, with an operating margin of 39% [24] - The management highlighted that fears regarding AI disruption in the software industry are overblown, emphasizing the continued need for reliable software solutions [28][32] Other Important Information - The company maintained a strong balance sheet with cash and cash equivalents of $95 million and a net debt position of $1.3 billion [20] - The company plans to aggressively repay its revolving line of credit, aiming for $250 million in repayments for fiscal 2026 [23] Q&A Session Summary Question: General perspective on AI's impact on software - Management acknowledged the hype and fear surrounding AI but emphasized that businesses will continue to rely on established software solutions rather than developing their own [28][32] Question: Monetization path of AI and net retention rates - Management noted that while net retention rates remain strong, significant AI investments are still limited to a small number of tech companies, indicating that broader adoption may take time [42][43] Question: Revenue growth and free cash flow expectations - Management indicated that Q4 cash flow was strong due to backend-loaded bookings, and they expect free cash flow growth to outpace revenue growth in 2026 [45][46] Question: SaaS revenue strength and guidance - Management confirmed that Q4 saw strong SaaS revenue driven by ShareFile and other products, but they do not expect similar outsized growth in 2026 [52] Question: Retention rates of acquisition targets amid AI fears - Management observed a softening in retention rates for smaller companies, as customers are questioning their stability in the face of AI disruption [55][56]

Financial Data and Key Metrics Changes - Annual revenue for fiscal year 2025 reached $978 million, representing a 30% year-over-year increase, with earnings per share of $5.72, up 16% from fiscal year 2024 [5][19] - Fourth quarter revenue was $253 million, an 18% increase year-over-year, with earnings of $1.51, exceeding guidance [6][20] - Annual recurring revenue (ARR) grew to $852 million, reflecting a 2% year-over-year increase, maintaining a 100% net retention rate [6][18] Business Line Data and Key Metrics Changes - The growth in ARR was driven by multiple products, including ShareFile, OpenEdge, WhatsUp Gold, and DevTools [18] - ShareFile and OpenEdge outperformed internal expectations, contributing significantly to revenue growth [19] Market Data and Key Metrics Changes - The company reported strong performance in the AI sector, with customer investments in AI projects driving growth [5][8] - The integration of ShareFile was highlighted as a successful acquisition, contributing positively to overall performance [9] Company Strategy and Development Direction - The company is focused on a Total Growth Strategy, with an emphasis on M&A opportunities in infrastructure software [15] - Continued investment in AI product innovations is a priority, with new offerings aimed at enhancing customer experiences [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the FY 2026 guidance, anticipating revenue between $986 million and $1 billion, with an operating margin of 39% [24] - The management acknowledged the current hype and fear surrounding AI but emphasized the importance of established software solutions in business operations [28][31] Other Important Information - The company maintained a strong balance sheet with cash and cash equivalents of $95 million and a net debt position of $1.3 billion [20] - A new facility in Costa Rica was opened to enhance tech support and customer success, reflecting regional growth strategies [12] Q&A Session Summary Question: Market evolution and AI impact on software - Management discussed the hype and fear surrounding AI, emphasizing that businesses will continue to rely on established software solutions rather than developing their own [28][30] Question: Net retention rates and AI monetization - Management noted that while net retention rates remain strong, significant AI investments are still concentrated among a small number of tech companies, indicating potential for future growth [42][43] Question: Free cash flow and seasonality - Management indicated that Q4 showed strong cash flow performance, with expectations for continued growth in free cash flow in FY 2026, without significant changes in seasonality [45][46] Question: SaaS revenue growth - Management attributed the strong SaaS revenue growth in Q4 to ShareFile and other products, but cautioned that growth rates would align more closely with overall business performance in FY 2026 [52] Question: Retention rates of acquisition targets - Management observed a softening in retention rates among smaller software companies, indicating challenges in the current market environment [55]

Financial Data and Key Metrics Changes - For fiscal year 2025, the company reported annual revenue of $978 million, representing a 30% increase year-over-year, and earnings per share of $5.72, up 16% from fiscal year 2024 [5][18] - In Q4, revenue reached $253 million, an 18% increase year-over-year, with earnings of $1.51, exceeding the high end of guidance [7][19] - The company achieved a net retention rate of 100% and a year-over-year ARR growth of 2% to $852 million, which now constitutes over 87% of total revenue [7][17] Business Line Data and Key Metrics Changes - The growth in ARR was driven by multiple products, including ShareFile, OpenEdge, WhatsUp Gold, and DevTools [17] - ShareFile and OpenEdge outperformed internal expectations, contributing significantly to revenue growth [17][18] Market Data and Key Metrics Changes - The company noted strong performance in the second half of FY25, particularly due to customer investments in AI projects [5][8] - The U.S. Department of Defense added Progress Federal Solutions Group to its TradeWinds Solutions Marketplace, enhancing the company's market presence [11] Company Strategy and Development Direction - The company completed the integration of ShareFile and Nuclia, which are expected to enhance product offerings and customer value [8][9] - The company is focused on maintaining a disciplined M&A strategy, looking for infrastructure software vendors with solid technology [15] - The company plans to continue investing in AI innovations to meet customer needs and drive growth [6][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in FY26 guidance, anticipating revenue between $986 million and $1 billion, with an operating margin of 39% [23] - The management highlighted that fears regarding AI disruption in the software industry may be overblown, emphasizing the continued need for reliable software solutions [30][31] - The company expects to see a gradual increase in AI-related investments from customers, similar to the early internet era [43] Other Important Information - The company maintained strong cash flow, with adjusted free cash flow of $62 million for Q4 and $247 million for the full year, marking a 16% increase over the prior year [21] - The company repurchased $40 million in stock during Q4 and $105 million for the full fiscal year [21] Q&A Session Summary Question: How does Progress view the evolution of AI in software? - Management acknowledged the hype and fear surrounding AI but emphasized that businesses will continue to rely on established software solutions rather than developing their own [27][30] Question: Why hasn't there been a more significant uptick in net retention rates despite AI investments? - Management indicated that most AI investments are currently limited to a small number of tech companies, and broader business spending on AI is still developing [42][43] Question: What is the outlook for free cash flow and seasonality in FY26? - Management expects free cash flow to grow significantly in FY26, with no major changes in seasonality compared to previous years [44][46] Question: What drove the strong sequential increase in SaaS revenues in Q4? - Management attributed the increase to strong performance in ShareFile and other SaaS offerings, but noted that growth would be more consistent with overall business growth in FY26 [52][53] Question: Have retention rates changed for potential acquisition targets? - Management observed a softening in growth and retention rates among smaller companies, indicating a cautious approach to acquisitions [56][57]

Financial Data and Key Metrics Changes - For fiscal year 2025, the company reported annual revenue of $978 million, a 30% increase year over year, and earnings per share of $5.72, up 16% from fiscal year 2024 [5][18] - The fourth quarter revenue was $253 million, an 18% increase year over year, with earnings of $1.51, exceeding guidance [6][19] - The company achieved a 100% net retention rate and a 2% year-over-year growth in annual recurring revenue (ARR) to $852 million, which now represents over 87% of total revenue [5][17] Business Line Data and Key Metrics Changes - The growth in ARR was driven by multiple products, including ShareFile, OpenEdge, WhatsUp Gold, and DevTools, with ShareFile being a significant contributor to the overall revenue growth [17][18] - Operating income for Q4 was $96 million, resulting in an operating margin of 38%, which exceeded internal expectations [19] Market Data and Key Metrics Changes - The company noted strong performance in the second half of the fiscal year, particularly due to customer investments in AI projects [5][7] - The integration of ShareFile and Nuclia's technology has been well-received, contributing positively to the company's product offerings and customer satisfaction [8][9] Company Strategy and Development Direction - The company is focused on continuing its total growth strategy, with an emphasis on M&A opportunities among infrastructure software vendors [14][15] - The company plans to aggressively repay its revolving line of credit used for the ShareFile acquisition, aiming to improve its net leverage ratio [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the FY 2026 guidance, anticipating revenue between $986 million and $1 billion, representing 1-2% growth over 2025 [22] - The management highlighted the importance of AI in driving future growth and emphasized the company's commitment to innovation and product development [29][30] Other Important Information - The company opened a new facility in Costa Rica to enhance tech support and customer success, strengthening its regional presence [12] - The company maintained a low voluntary attrition rate of 6% for fiscal 2025, reflecting a positive workplace culture [13] Q&A Session Summary Question: Perspective on AI's impact on software - Management acknowledged the hype and fear surrounding AI but emphasized that businesses will continue to rely on existing applications and tools, suggesting that fears of disruption are overblown in the near term [26][29] Question: Monetization path of AI and net retention rates - Management indicated that while net retention rates remain strong, the broader investment in AI is still limited to a small number of tech companies, suggesting that significant growth in this area may take time [39][40] Question: Revenue growth and free cash flow expectations - Management noted that Q4 cash flow was strong due to backend-loaded bookings, and they expect free cash flow growth to outpace revenue growth in 2026 [42][43] Question: SaaS revenue strength and guidance - Management confirmed that Q4 saw strong SaaS revenue growth driven by ShareFile and other products, but they do not expect this trend to dramatically outpace overall business growth in 2026 [47][48] Question: Retention rates of acquisition targets - Management observed that smaller companies are facing challenges with customer retention due to fears of AI disruption, leading to increased selectivity in acquisition targets [50][51]

Financial Data and Key Metrics Changes - For fiscal year 2025, the company reported annual revenue of $978 million, representing a 30% increase year-over-year, and earnings per share of $5.72, up 16% from fiscal year 2024 [6][19] - The fourth quarter revenue was $253 million, an 18% increase year-over-year, with earnings of $1.51, exceeding the high end of guidance [7][20] - The company achieved a 100% net retention rate and a 2% year-over-year growth in annual recurring revenue (ARR) to $852 million, which now constitutes over 87% of total revenue [6][18] Business Line Data and Key Metrics Changes - The growth in ARR was driven by multiple products, including ShareFile, OpenEdge, WhatsUp Gold, and DevTools [18] - The strong performance of ShareFile and OpenEdge contributed significantly to revenue growth, with ShareFile being a major driver of the overall 30% revenue increase for the year [19][20] Market Data and Key Metrics Changes - The company noted that its investment in AI projects by customers has been a significant factor in driving business momentum, particularly in the second half of fiscal year 2025 [9][12] - The U.S. Department of Defense added Progress Federal Solutions Group to its list of pre-approved providers of AI products, enhancing the company's market position [12] Company Strategy and Development Direction - The company completed the integration of ShareFile and Nuclia, which has been well-received and is adding significant functionality to its product offerings [9][10] - The company is focused on maintaining a total growth strategy, with an emphasis on selective M&A opportunities in infrastructure software [15][16] - The company plans to continue investing in AI innovations to enhance its product portfolio and meet customer needs [9][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the fiscal year 2026 guidance, projecting revenue between $986 million and $1 billion, with an operating margin of 39% [24] - The management highlighted that fears regarding AI disruption in the software industry are overblown, emphasizing the continued need for reliable software solutions [28][32] - The company expects to maintain ARR growth consistent with the 2% growth seen in fiscal year 2025 [22][34] Other Important Information - The company ended the fiscal year with cash and cash equivalents of $95 million and a net debt position of $1.3 billion, with a net leverage ratio of approximately 3.4 times [20] - The company repurchased $40 million in stock during the fourth quarter and $105 million for the full fiscal year 2025 [21] Q&A Session Summary Question: How does Progress view the evolution of software in the context of AI? - Management believes that fears regarding AI disruption are overblown, as businesses will continue to rely on established software solutions rather than developing their own [28][32] Question: Why hasn't there been a more significant uptick in net retention rates despite AI investments? - Management indicated that most AI investments are currently limited to a small number of tech companies, and broader business spending on AI is still developing [43] Question: What is the outlook for free cash flow and its seasonality in fiscal 2026? - Management expects free cash flow to grow significantly in 2026, with no major changes in seasonality compared to historical trends [47] Question: What drove the strong sequential increase in SaaS revenues in Q4? - The increase was attributed to strong performance in ShareFile and other SaaS offerings, although management cautioned that this growth is not expected to be dramatically different in 2026 [54] Question: Have retention rates changed for potential acquisition targets in light of AI fears? - Management noted that smaller companies are facing challenges with customer retention as clients question their stability, leading to a more selective acquisition strategy [57]

Core Insights - Progress Software has launched its SaaS Retrieval-Augmented Generation (RAG) platform, Progress® Agentic RAG, on AWS Marketplace, facilitating easier access for organizations to utilize generative AI for unstructured data [1][2][3] Group 1: Product Features - Progress Agentic RAG is designed as a no-code platform that transforms unstructured data into actionable intelligence using trustworthy generative AI and AI agents [2][3] - The platform supports multilingual data processing, making it suitable for global organizations aiming to improve productivity and decision-making [3] Group 2: Market Positioning - The availability of Progress Agentic RAG on AWS Marketplace simplifies access to advanced AI solutions for customers, allowing for streamlined purchase and management [2][3] - Progress Software aims to remove barriers for organizations to adopt and scale transformative AI solutions confidently [3] Group 3: Company Overview - Progress Software empowers organizations to achieve transformational success through AI-powered applications and digital experiences, serving over 4 million developers and technologists globally [5]

Financial Data and Key Metrics Changes - Revenues for Q3 2025 reached $250 million, exceeding previous guidance and representing approximately 40% year-over-year growth [20][6] - Earnings per share were $1.50, significantly above the high end of guidance and up 19% from the prior year [21][6] - Annualized recurring revenue (ARR) grew 47% year-over-year, closing at $849 million [19][5] - Operating margin was 40%, slightly down from 41% in the previous year [20][21] Business Line Data and Key Metrics Changes - The ShareFile business showed improved net retention rates as customers adopted AI capabilities, contributing to better-than-expected ARR and top-line growth [8][19] - Other products such as OpenEdge, MarkLogic, Sitefinity, WhatsUp Gold, and DevTools also exceeded expectations, indicating strong performance across the portfolio [9][19] Market Data and Key Metrics Changes - The demand for AI-related products is driving growth, with customers increasingly looking for solutions that deliver clear ROI [7][5] - The integration of ShareFile has been successful, with over 3,000 customers using the new AI document assistant [8][7] Company Strategy and Development Direction - The company is focused on innovation, particularly in AI capabilities, to enhance product value and customer success [10][11] - M&A remains a key growth strategy, with ongoing evaluations of potential acquisitions in application platforms, digital experience, and infrastructure management [17][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued demand for products driven by AI initiatives, expecting this trend to persist beyond fiscal 2025 [7][5] - The company plans to maintain disciplined capital allocation, focusing on debt repayment and share repurchases based on market conditions [23][24] Other Important Information - The company repurchased $15 million of shares in Q3, with a total of $65 million repurchased year-to-date [23][6] - The board authorized an increase in share repurchase authorization by $200 million, bringing the total to $242 million [23][6] Q&A Session Summary Question: AI strategy and its impact on net retention rate and pricing power - Management indicated that AI capabilities are expected to first impact monthly recurring revenue (MRR) and net retention rates, with potential for indirect pricing opportunities through product upgrades [28][30][32] Question: EBIT guidance and conservatism in outlook - Management clarified that the guidance reflects a strong Q3 performance but maintains a conservative approach for Q4, which is typically a strong quarter [34][36] Question: Surprises from ShareFile acquisition - Management noted challenges in integration but highlighted positive aspects such as strong team engagement and customer reliance on ShareFile [40][41] Question: Monetization of Agentic RAG product - The initial monetization strategy focuses on cross-selling opportunities within the existing customer base while also targeting new customers [46][47] Question: Gross margin performance - Management explained that gross margin improvements are due to better operational efficiencies across SaaS products, despite the growing share of SaaS revenue [48][49] Question: M&A attractiveness in the current environment - Management expressed interest in all three business categories, emphasizing the growing importance of data platforms and digital experiences in the context of AI [52][55]

Financial Data and Key Metrics Changes - The company reported revenues of $250 million for Q3 2025, exceeding previous guidance and representing approximately 40% year-over-year growth [20][6] - Earnings per share for Q3 were $1.50, significantly above the high end of guidance and up 19% compared to the prior year [21][6] - Annualized recurring revenue (ARR) reached $849 million, reflecting a 47% year-over-year growth [19][6] - Operating margin was 40%, slightly down from 41% in the previous year [20][21] Business Line Data and Key Metrics Changes - The ShareFile business showed strong performance with improved net retention rates as customers adopted new AI capabilities [8][19] - Other products such as OpenEdge, MarkLogic, Sitefinity, WhatsUp Gold, and DevTools also exceeded expectations, contributing to overall ARR growth [9][19] - The integration of ShareFile was highlighted as a successful acquisition, with all major milestones met ahead of schedule [7][8] Market Data and Key Metrics Changes - The company experienced solid market demand driven by customer investments in AI initiatives, which are expected to continue as businesses are in the early stages of AI adoption [5][7] - The net retention rate was solid at 100%, indicating strong customer loyalty and satisfaction [5][19] Company Strategy and Development Direction - The company emphasized innovation as a foundational pillar of its growth strategy, focusing on delivering new AI capabilities across its product portfolio [10][11] - M&A remains a key growth strategy, with ongoing evaluations of potential acquisition targets in application and development platforms, digital experience, and infrastructure management [16][17] - The company is actively looking for SaaS opportunities, having reduced hesitancy towards acquiring SaaS companies following the successful integration of ShareFile [56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of demand for products and the ability to execute well through fiscal 2025 and beyond [5][7] - The company raised its full-year revenue guidance, expecting total revenue between $975 million and $981 million for 2025 [24][25] - Management noted that the integration of AI capabilities is expected to enhance customer retention and potentially drive pricing power through product upgrades [30][32] Other Important Information - The company repurchased $15 million of its shares in Q3, with a total of $65 million repurchased year-to-date [23] - The board authorized an increase in the share repurchase program by $200 million, bringing the total available for repurchase to $242 million [23] Q&A Session Summary Question: AI strategy and its impact on net retention rate and pricing power - Management indicated that AI capabilities are expected to first impact monthly recurring revenue (MRR) and net retention rates, with potential for indirect pricing opportunities through product upgrades [30][32] Question: EBIT guidance and conservatism in outlook - Management explained that the guidance reflects a strong Q3 performance but maintains a conservative approach for Q4, which is typically a strong quarter [34][36] Question: Surprises from ShareFile acquisition - Management noted challenges in integration but highlighted positive aspects such as strong team engagement and customer reliance on ShareFile products [40][41] Question: Monetization of Agentic RAG product - Management stated that the initial monetization strategy focuses on cross-selling opportunities within the existing product portfolio [47] Question: Gross margin performance - Management attributed the gross margin increase to better operational efficiencies and the blending of different product margins [49] Question: M&A attractiveness in the current environment - Management expressed interest across all three business categories, emphasizing the growing importance of data platforms and digital experiences in the context of AI [55][56]

Financial Data and Key Metrics Changes - The company reported revenues of $250 million for Q3 2025, exceeding previous guidance and representing approximately 40% year-over-year growth [21][26] - Earnings per share for Q3 were $1.50, up $0.24 or 19% compared to the prior year quarter, driven by the addition of ShareFile [22] - Annualized recurring revenue (ARR) reached $849 million, reflecting a 47% year-over-year growth [20][26] - Operating margin was 40%, slightly down from 41% in the year-ago quarter [21] Business Line Data and Key Metrics Changes - The ShareFile business showed improved net retention rates as customers adopted AI capabilities, contributing to better-than-expected ARR and top-line growth [9][10] - Other products such as OpenEdge, MarkLogic, Sitefinity, WhatsUp Gold, and DevTools also exceeded expectations, indicating strong performance across the portfolio [10] Market Data and Key Metrics Changes - The company experienced solid market demand, particularly for products related to AI initiatives, which are driving customer investments [5][7] - The integration of ShareFile has been successful, with over 3,000 customers using the new AI document assistant [9] Company Strategy and Development Direction - Innovation is a foundational pillar of the company's growth strategy, with a focus on delivering AI capabilities across products [11] - The company is actively pursuing M&A opportunities, particularly in the areas of application and development platforms, digital experience, and infrastructure management [18][54] - The company aims to leverage AI to enhance customer experiences and operational efficiencies [12][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued demand for products driven by customer AI initiatives, expecting this trend to persist beyond fiscal 2025 [7][19] - The company plans to maintain disciplined capital allocation, focusing on debt repayment and share repurchases based on market conditions [25][27] Other Important Information - The company repurchased $15 million of its shares in Q3, with a total of $65 million repurchased year-to-date [6][25] - The board authorized an increase in share repurchase authorization by $200 million, bringing the total to $242 million [25] Q&A Session Summary Question: AI strategy and its impact on net retention rate and pricing power - Management indicated that AI capabilities are expected to first impact monthly recurring revenue (MRR) and net retention rates, with potential for indirect pricing opportunities through product upgrades [29][34] Question: EBIT guidance and conservatism in outlook - Management clarified that the guidance reflects strong Q3 results and maintains expectations for Q4, emphasizing confidence in the overall performance [36][38] Question: Surprises from ShareFile acquisition - Management noted challenges in integration but highlighted positive aspects such as strong team engagement and customer reliance on ShareFile [40][43] Question: Monetization of Agentic RAG product - The initial monetization strategy focuses on cross-selling opportunities with existing products, while also targeting new customers [46][47] Question: M&A environment and SaaS opportunities - Management expressed interest in acquiring both SaaS and non-SaaS companies, noting a reduced hesitancy towards SaaS acquisitions following the ShareFile experience [52][55]

Core Insights - Progress Software has launched Progress® Agentic RAG, a SaaS platform designed to make generative AI accessible for organizations of all sizes, enabling them to transform unstructured data into actionable intelligence [1][3] - The platform aims to address the challenges posed by the exponential growth of unstructured and structured data, providing a user-friendly and affordable solution for businesses [2][5] Company Overview - Progress Software is a provider of AI-powered digital experience and infrastructure software, focusing on enabling organizations to manage and utilize their data effectively [1][7] - The company has over 4 million developers and technologists relying on its products, indicating a strong market presence [7] Product Features - Progress Agentic RAG offers a no-code RAG pipeline for streamlined ingestion, indexing, and retrieval of data across various formats, including multilingual text, audio, and video [9] - The platform provides intelligent search capabilities, delivering AI-generated answers based on unstructured data, ensuring trusted responses in multiple languages [9] - It supports seamless deployment of AI agents and integrates with leading enterprise-ready Large Language Models (LLMs), allowing users to choose their preferred model [9] - The underlying database, NucliaDB, enhances the platform's capabilities with built-in semantic search, keyword search, and knowledge graph traversal [9] Market Impact - The introduction of Progress Agentic RAG is expected to accelerate productivity and decision-making across various industries by providing fast and accurate insights from unstructured data [4][5] - The platform is positioned as a cost-effective solution that can help businesses unlock productivity and innovation, regardless of their size [5] Pricing and Availability - Progress Agentic RAG is available as a self-service offering on AWS Marketplace, with pricing starting at $700 per month, making it accessible for small businesses and departmental teams [6]