Progress Partners with Veeam Software to Deliver AI-Powered Network Detection and Response, Achieving Record Sales Growth
In a groundbreaking collaboration, Progress Software has joined forces with Veeam Software to bring cutting-edge artificial intelligence (AI)-powered Network Detection and Response (NDR) capabilities to global enterprises. This strategic partnership combines the advanced NDR capabilities of Progress Flowmon with the robust Veeam Data Platform, enabling customers to bolster the security of their critical data and networks.
The increasing threat landscape has made it imperative for businesses to adopt advanced security measures to protect their sensitive data from cybercriminals. Recognizing this need, Progress Software and Veeam Software have come together to offer a comprehensive solution that leverages the power of AI to detect and respond to network intrusions in real-time.
With the integration of Progress Flowmon and Veeam Data Platform, global enterprises gain access to an unparalleled level of network intelligence and security. The partnership aims to equip customers with the tools needed to effectively identify and mitigate potential cybersecurity threats, ensuring the safeguarding of critical business information.
Through AI-powered analytics, Progress Flowmon enables businesses to proactively detect anomalies and potential breaches in their networks. This advanced NDR solution provides real-time insights and actionable recommendations to improve network resilience and minimize risks. By leveraging Veeam Data Platform’s robust and scalable infrastructure, enterprises can ensure the uninterrupted availability and rapid recovery of critical data in the face of any security incident.
The impact of this collaboration has been reflected in the exceptional sales growth experienced by Progress Software. In Q4 2023, the company’s suppliers recorded a remarkable increase in sales by 14.29% year on year. Additionally, the sequential sales growth of 4.2% underscores the growing demand for advanced network security solutions. Progress Software’s success in this area is a testament to the effectiveness and relevance of the partnership with Veeam Software.
While Progress Software witnessed significant sales growth, it also acknowledged the pressing need to invest in cost management. In Q4, the company recorded a substantial increase in cost of sales by 95.35% year on year. However, Progress Software actively addressed this issue and successfully managed a sequential cost of sales growth of 40.63%. This balanced approach reflects the company’s commitment to ensuring both customer satisfaction and financial sustainability.
The collaboration between Progress Software and Veeam Software marks a significant milestone in the realm of network security. Together, they have created a powerful solution that leverages AI and advanced network analytics to enable global enterprises to proactively defend against cyber threats. As the sales growth demonstrates, the market has recognized the power and value of this collaboration. With the partnership poised for continued success, enterprises can trust in the combined expertise of Progress Software and Veeam Software to deliver cutting-edge network detection and response capabilities that provide unmatched security for critical data.
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