During this time, we have reallocated much of our pandemic-caused cost savings and travel and events into SMB go-to-market initiatives.

Mar 1, 2022 / CEO / receipt, needs a key / Greg Bentley, CEO | earnings call 2022-03-01 | transcript 61688951-5340-4973-8e9f-090ca0b248b4 | chars 11585-11720 | segment 11

Now for our 2021 actual performance, our operating cost structure again benefited from reduced travel and life events, but to a much lesser degree than in 2020.

Mar 1, 2022 / CEO / receipt, needs a key / Greg Bentley, CEO | earnings call 2022-03-01 | transcript 61688951-5340-4973-8e9f-090ca0b248b4 | chars 40364-40524 | segment 40

And while these fundamental investments happen to coincide with the course of a pandemic, which has made our markets more receptive to going digital faster, I think the more direct relationship in this case is that we could reinvest pandemic-induced travel and event savings so as not to compromise our committed target to annually improve margins by a measured and sustainable 100 basis points.

Nov 9, 2021 / CEO / receipt, needs a key / Greg Bentley, CEO | earnings call 2021-11-09 | transcript 79411b1a-4d3b-42be-afaf-48c0b111b852 | chars 11832-12227 | segment 11