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Progress Unveils Powerful AI Tools in ShareFile Platform to Dramatically Increase Efficiency and Productivity

1. Progress launches AI-powered ShareFile to enhance document collaboration efficiency. 2. ShareFile claims document collection speed increases by 3.5x with new AI features. 3. AI enhancements secure data practices, minimizing accidental data leaks. 4. Users report up to 96% faster document analysis with new summarization tools. 5. Over 4 million developers rely on Progress for digital experience solutions.

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Why Bullish?

The launch of AI-powered ShareFile can lead to increased adoption and recurring revenue. Historically, significant product launches often correlate with positive stock movement in tech companies.

How important is it?

The article discusses a major product innovation that can drive future sales and market interest. This positions PRGS favorably within its industry as it improves operational productivity for clients.

Why Short Term?

The immediate buzz and potential customer acquisition from ShareFile's AI enhancements suggest a quick market response. Companies often see rapid stock responses following positive innovations or launches.

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Advanced capabilities strengthen data security, streamline workflows and accelerate document collection by nearly 3.5x BURLINGTON, Mass., April 02, 2025 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced purpose-built AI in Progress® ShareFile®, the SaaS-native document collaboration platform. Designed to enhance efficiency and strengthen data security, these features empower businesses to optimize workflows and boost productivity so they can accomplish far more with existing staff. The ShareFile platform uses AI for powerful, purpose-built features, turbo-charging existing document-centric workflows and providing tangible business outcomes. While many businesses worry that AI could diminish human connections, ShareFile takes a customer-centric approach—automating low-value, repetitive tasks so teams can spend more time on what truly matters: building meaningful customer relationships. ShareFile enables its users to collect documents nearly 3.5x faster and extract the information they need from documents up to 96% faster. “With ShareFile we are able to provide our customers with tools that significantly boost efficiency and quality in day-to-day work,” said Loren Jarrett, EVP & GM, Digital Experience, Progress. “We’ve developed AI-powered features that eliminate repetitive tasks, strengthen security and free up time for employees to focus on their most valuable work—collaboration, client relationships and strategic tasks.” New AI-powered benefits include: Minimize Accidental Data Leaks: With the secure share recommender, organizations can standardize secure data practices by automating safer share settings. This feature makes it effortless for employees to protect sensitive information with Personal Identifiable Information (PII) when sending and sharing files.Accelerate Time to Insights: Eliminate tedious document analysis to focus on more revenue-generating work with document summarization and Q&A. Quickly analyze and transform lengthy documents into concise insights with a single click or question with document summarization and Q&A. By analyzing large documents instantly, these features help users extract key information without sifting through excess data, enhancing productivity and decision making. Collect Documents More Easily: Document request list generation uses Generative AI (GenAI) to instantly create ready-to-send document request lists. This tool reduces the need for manual processes and Excel-based lists, allowing users to efficiently generate, standardize and scale document collection workflows up to 3.5x faster. “We have a screening process which requires us to analyze tax returns of prospects to ensure we're a good fit. With tax returns reaching around 200 pages, ShareFile's AI document summarization quickly gives us the information needed, instead of spending an hour reading,” said Paul Nylen, Partner, Nylen & Partners, LLC. “Multiply that by numerous clients a week and you’re significantly creating business impact and productivity gains.” The ShareFile platform leverages AI to boost front-office efficiency with automation and templates that streamline and help secure document workflows, while deeply embedding it into business processes for lasting impact. By automating tedious administrative tasks, the AI-powered platform frees professionals to focus on high-value work that drives success. For more information, visit https://www.progress.com/sharefile. About ProgressProgress (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com. Progress and ShareFile are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.  Press Contacts:Kim BakerProgress+1-800-477-6473pr@progress.com

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