we generate revenue by providing professional services for both our saas solutions and perpetual and term license products ( primarily related to implementation services ) to the extent requested by our customers . the vast majority of our professional services revenue is recognized on a time and materials basis as the work is delivered to our customers . our customers may also choose to obtain implementation services through our network of third-party si partners who provide implementation and other related services to our customers . our partnerships with leading sis allow us to grow our business more efficiently by giving us scale to service our growing customer base . we continue to grow our services organization , including increasing the number of qualified consultants we employ and investing time and resources to develop relationships with new si partners in existing and new markets . we sell our products and services to a wide variety of carriers , including many of the largest and most recognizable brands in the p & c insurance industry , as well as smaller national and regional carriers . our direct sales team focuses on obtaining new customers , which includes carriers that currently operate internally developed or competing systems , as well as selling into our existing customer base , which includes marketing our saas solutions to our term and perpetual license customers to drive adoption of our saas solutions and cross-selling additional applications . we are committed to continued training and development in order to increase the productivity of our sales team , with regional sales centers in north america , europe and australia . our sales team is complemented by our partnerships with third-party partners , including leading sis and solution partners . these partners provide additional market validation to our offerings , enhance our sales force through co-marketing efforts and offer greater speed and efficiency of implementation capabilities and related services to our customers . we also engage in a variety of traditional and online marketing activities designed to provide sales support and build brand recognition and enhance our reputation as an industry leader . we believe our strong customer relationships are a result of our ability to develop innovative technology and incorporate our deep domain expertise into products that serve mission critical functions in our customers ' day-to-day operations . we have over 150 insurance customers , of which over 60 have purchased one or more of our saas solutions . for customer concentration purposes , customers are assessed two ways : individual entities ( customers ) and combining customers that are under common control ( consolidated entities ) . we had no single customer that accounted for over 10 % of our total revenue in fiscal 2020 but one consolidated entity that represented approximately 11 % of our total revenue for fiscal 2020. this consolidated entity is a large multinational corporation that does business with us through multiple subsidiaries . in fiscal 2019 , a single customer , state farm , accounted for 10 % of our total revenue and the same multinational corporation was the one consolidated entity that represented approximately 13 % of our total revenue in fiscal 2019. key factors and trends affecting our results of operations increased focus on the sale of our saas solutions and resulting changing revenue mix . a central part of our strategy is to continue to grow our subscription revenue by signing new saas customers and increasing sales to our existing saas customers . additionally , over time we also expect to migrate existing term and perpetual license customers to our saas solutions . as a result , our software revenue mix will continue to change over time as the portion of license revenue ( primarily recognized up-front ) decreases and the portion of subscription revenue ( recognized monthly ) increases , which may make our results in any one period difficult to compare to any other period . for the fiscal years ended august 31 , 2020 , 2019 and 2018 , subscription revenue was 71 % , 60 % and 47 % of software revenue , respectively . continued and increased adoption of our solutions by customers . strong customer relationships are a key driver of our success given the importance of customer references for new sales . our long-term relationships with existing customers provide us with significant opportunities to reach customer decision-makers and sell our product offerings that address the specific customer 's needs , allowing us to recognize incremental sales with lower sales and marketing spend than for a new customer . with the continued launch of new functionality for the duck creek suite , we have the opportunity to realize incremental value by selling additional functionality to customers that do not currently utilize our full product portfolio and by encouraging existing term and perpetual license customers to adopt our saas solutions . as we demonstrate our value to customers , we believe we will have the opportunity to sell them additional solutions . moreover , because our products are priced on the basis of the amount of dwp generated by our customers , we expect our revenue will grow as our customers grow their businesses . 56 timing of license revenue recognition and changing contract terms . because our offerings are typically priced based on a customer 's dwp , and our business relies on a relatively small number of high-value contracts , the license revenues recognized in any fiscal period in which we sign a term license with a large global carrier may be disproportionally higher than revenues recognized in a period in which we only sign term licenses with smaller carriers . we generally experience lengthy sales cycles because potential customers typically undertake a rigorous pre-purchase decision-making and evaluation process . additionally , our license revenue may significantly increase in any given period in which a new license contract is signed . story_separator_special_tag results of operations comparison of fiscal years ended august 31 , 2020 , 2019 and 2018 the following table sets forth our consolidated results of operations for the periods indicated , expressed in total dollar terms and as a percentage of total revenue : replace_table_token_2_th 61 revenue subscription fiscal 2020 compared to fiscal 2019. subscription revenue increased $ 28.1 million , or 50 % , in fiscal 2020 versus fiscal 2019 due to a combination of sales to new customers and increased revenue generated from existing customers , which includes full year impact of prior year sales , sales of new services to existing customers and contractual growth . fiscal 2019 compared to fiscal 2018. subscription revenue increased $ 13.5 million , or 32 % , in fiscal 2019 versus fiscal 2018 due to a combination of sales to new customers and increased revenue generated from existing customers , which includes full year impact of prior year sales , sales of new services to existing customers and contractual growth . license fiscal 2020 compared to fiscal 2019 . license revenue decreased $ 3.9 million , or ( 28 % ) , in fiscal 2020 versus fiscal 2019 primarily due to a decrease in multi-year license deals and fees related to growth in dwp for license customers as a result of our shift to selling our saas solutions to new customers . fiscal 2019 compared to fiscal 2018 . license revenue decreased $ 7.2 million , or ( 34 % ) , in fiscal 2019 versus fiscal 2018 primarily due to our focus on selling our saas solutions to new customers and the revisions to contracting practices in fiscal 2018 to sell our term licenses with an initial two-year committed term and optional annual renewals instead of our historical three to six year committed terms . these decreases were partially offset by the conversion of a large perpetual license contract to an enterprise-wide term license contract , which shifted the revenue mix away from maintenance revenue and into license revenue . maintenance and support fiscal 2020 compared to fiscal 2019 . maintenance and support revenue decreased $ 0.2 million , or ( 1 % ) , in fiscal 2020 versus fiscal 2019 primarily due to the conversion of license contract customers to saas customers in the previous fiscal year . fiscal 2019 compared to fiscal 2018 . maintenance and support revenue decreased $ 2.1 million , or ( 8 % ) , in fiscal 2019 versus fiscal 2018 primarily due to the conversion of a large perpetual license contract to an enterprise-wide term license contract , which shifted the revenue mix away from maintenance revenue and into license revenue , and the conversion of two license contract customers to saas customers . professional services fiscal 2020 compared to fiscal 2019 . professional services revenue increased $ 16.4 million , or 21 % in fiscal 2020 versus fiscal 2019 primarily due to growth of our existing software customer base and new customer implementations . fiscal 2019 compared to fiscal 2018 . professional services revenue increased $ 7.5 million , or 11 % , in fiscal 2019 versus fiscal 2018 primarily due to growth of our existing software customer base and new customer implementations . cost of revenue fiscal 2020 compared to fiscal 2019 . cost of revenue increased $ 25.0 million , or 35 % , in fiscal 2020 versus fiscal 2019. fiscal 2019 compared to fiscal 2018 . cost of revenue increased $ 7.8 million , or 12 % , in fiscal 2019 versus fiscal 2018 . 62 cost of subscriptions fiscal 2020 compared to fiscal 2019 . cost of subscription revenue increased $ 10.7 million , or 44 % , in fiscal 2020 versus fiscal 2019 primarily due to an increase in saas customers , and is primarily comprised of a $ 5.1 million increase in hosting costs , a $ 3.9 million increase in payroll and related costs as we added employees to build out the saas operations team , a $ 0.7 million increase in computer hardware and software costs and a $ 0.1 million increase in professional service fees . share-based compensation increased $ 0.4 million in fiscal 2020 versus fiscal 2019 due to incremental charges related to employee stock options and phantom unit settlements as part of the reorganization transactions in conjunction with the ipo . beginning in fiscal 2020 , the company recorded $ 0.7 million of amortization expense associated with capitalized internal-use software costs . these increases were offset by a $ 0.2 million decrease in travel and entertainment expenses . fiscal 2019 compared to fiscal 2018 . cost of subscription revenue increased $ 1.9 million , or 9 % , in fiscal 2019 versus fiscal 2018 primarily due to an increase in saas customers , and is comprised of a $ 0.8 million increase in payroll and related costs as we added employees to build out the saas operations team , a $ 0.6 million increase in third-party software costs , a $ 0.5 million increase in consulting costs and a $ 0.1 million increase in royalties paid related to subscription arrangements . the increases were offset by a $ 0.4 million decrease due to eliminating redundancies in our external data hosting costs . cost of license fiscal 2020 compared to fiscal 2019 . cost of license revenue decreased $ 0.1 million , or ( 6 % ) in fiscal 2020 versus fiscal 2019 primarily due to a decrease in royalties paid to third parties resulting from the decrease in license revenue . fiscal 2019 compared to fiscal 2018 . cost of license revenue decreased $ 0.2 million , or ( 7 % ) , in fiscal 2019 versus fiscal 2018 primarily due to a decrease in royalties paid to third-parties resulting from the decrease in license revenue . cost of maintenance and support fiscal 2020 compared to fiscal 2019 . cost of maintenance and support revenue increased $ 0.6 million , or

liquidity and capital resources to date , we have financed our operations primarily through cash provided by operating activities and our revolving credit facility . as of august 31 , 2020 , we had $ 389.9 million in cash ( including net proceeds received from the ipo ) no outstanding borrowings under our revolving credit facility and $ 1.0 million of outstanding letters of credit . we also had $ 29.0 million principal amount of additional availability under our revolving credit facility . while we believe our existing cash , together with cash provided by operating activities and amounts available under our revolving credit facility , will be sufficient to meet our operating working capital and capital expenditure requirements over at least the next twelve months , the extent to which covid-19 could impact our business , financial condition , results of operations and cash flows in the short- and medium-term can not be predicted with certainty , but such impact could be material . although we did not experience significant disruptions to our business in 2020 from covid-19 , we and our industry as a whole may experience a greater impact going forward . to the extent covid-19 has resulted in any increase to our cash and cash equivalents , including as a result of any 65 decreases in sales and market expenses described above , such increase could be temporary .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources to date , we have financed our operations primarily through cash provided by operating activities and our revolving credit facility . as of august 31 , 2020 , we had $ 389.9 million in cash ( including net proceeds received from the ipo ) no outstanding borrowings under our revolving credit facility and $ 1.0 million of outstanding letters of credit . we also had $ 29.0 million principal amount of additional availability under our revolving credit facility . while we believe our existing cash , together with cash provided by operating activities and amounts available under our revolving credit facility , will be sufficient to meet our operating working capital and capital expenditure requirements over at least the next twelve months , the extent to which covid-19 could impact our business , financial condition , results of operations and cash flows in the short- and medium-term can not be predicted with certainty , but such impact could be material . although we did not experience significant disruptions to our business in 2020 from covid-19 , we and our industry as a whole may experience a greater impact going forward . to the extent covid-19 has resulted in any increase to our cash and cash equivalents , including as a result of any 65 decreases in sales and market expenses described above , such increase could be temporary .
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 Suspicious Activity Report : we generate revenue by providing professional services for both our saas solutions and perpetual and term license products ( primarily related to implementation services ) to the extent requested by our customers . the vast majority of our professional services revenue is recognized on a time and materials basis as the work is delivered to our customers . our customers may also choose to obtain implementation services through our network of third-party si partners who provide implementation and other related services to our customers . our partnerships with leading sis allow us to grow our business more efficiently by giving us scale to service our growing customer base . we continue to grow our services organization , including increasing the number of qualified consultants we employ and investing time and resources to develop relationships with new si partners in existing and new markets . we sell our products and services to a wide variety of carriers , including many of the largest and most recognizable brands in the p & c insurance industry , as well as smaller national and regional carriers . our direct sales team focuses on obtaining new customers , which includes carriers that currently operate internally developed or competing systems , as well as selling into our existing customer base , which includes marketing our saas solutions to our term and perpetual license customers to drive adoption of our saas solutions and cross-selling additional applications . we are committed to continued training and development in order to increase the productivity of our sales team , with regional sales centers in north america , europe and australia . our sales team is complemented by our partnerships with third-party partners , including leading sis and solution partners . these partners provide additional market validation to our offerings , enhance our sales force through co-marketing efforts and offer greater speed and efficiency of implementation capabilities and related services to our customers . we also engage in a variety of traditional and online marketing activities designed to provide sales support and build brand recognition and enhance our reputation as an industry leader . we believe our strong customer relationships are a result of our ability to develop innovative technology and incorporate our deep domain expertise into products that serve mission critical functions in our customers ' day-to-day operations . we have over 150 insurance customers , of which over 60 have purchased one or more of our saas solutions . for customer concentration purposes , customers are assessed two ways : individual entities ( customers ) and combining customers that are under common control ( consolidated entities ) . we had no single customer that accounted for over 10 % of our total revenue in fiscal 2020 but one consolidated entity that represented approximately 11 % of our total revenue for fiscal 2020. this consolidated entity is a large multinational corporation that does business with us through multiple subsidiaries . in fiscal 2019 , a single customer , state farm , accounted for 10 % of our total revenue and the same multinational corporation was the one consolidated entity that represented approximately 13 % of our total revenue in fiscal 2019. key factors and trends affecting our results of operations increased focus on the sale of our saas solutions and resulting changing revenue mix . a central part of our strategy is to continue to grow our subscription revenue by signing new saas customers and increasing sales to our existing saas customers . additionally , over time we also expect to migrate existing term and perpetual license customers to our saas solutions . as a result , our software revenue mix will continue to change over time as the portion of license revenue ( primarily recognized up-front ) decreases and the portion of subscription revenue ( recognized monthly ) increases , which may make our results in any one period difficult to compare to any other period . for the fiscal years ended august 31 , 2020 , 2019 and 2018 , subscription revenue was 71 % , 60 % and 47 % of software revenue , respectively . continued and increased adoption of our solutions by customers . strong customer relationships are a key driver of our success given the importance of customer references for new sales . our long-term relationships with existing customers provide us with significant opportunities to reach customer decision-makers and sell our product offerings that address the specific customer 's needs , allowing us to recognize incremental sales with lower sales and marketing spend than for a new customer . with the continued launch of new functionality for the duck creek suite , we have the opportunity to realize incremental value by selling additional functionality to customers that do not currently utilize our full product portfolio and by encouraging existing term and perpetual license customers to adopt our saas solutions . as we demonstrate our value to customers , we believe we will have the opportunity to sell them additional solutions . moreover , because our products are priced on the basis of the amount of dwp generated by our customers , we expect our revenue will grow as our customers grow their businesses . 56 timing of license revenue recognition and changing contract terms . because our offerings are typically priced based on a customer 's dwp , and our business relies on a relatively small number of high-value contracts , the license revenues recognized in any fiscal period in which we sign a term license with a large global carrier may be disproportionally higher than revenues recognized in a period in which we only sign term licenses with smaller carriers . we generally experience lengthy sales cycles because potential customers typically undertake a rigorous pre-purchase decision-making and evaluation process . additionally , our license revenue may significantly increase in any given period in which a new license contract is signed . story_separator_special_tag results of operations comparison of fiscal years ended august 31 , 2020 , 2019 and 2018 the following table sets forth our consolidated results of operations for the periods indicated , expressed in total dollar terms and as a percentage of total revenue : replace_table_token_2_th 61 revenue subscription fiscal 2020 compared to fiscal 2019. subscription revenue increased $ 28.1 million , or 50 % , in fiscal 2020 versus fiscal 2019 due to a combination of sales to new customers and increased revenue generated from existing customers , which includes full year impact of prior year sales , sales of new services to existing customers and contractual growth . fiscal 2019 compared to fiscal 2018. subscription revenue increased $ 13.5 million , or 32 % , in fiscal 2019 versus fiscal 2018 due to a combination of sales to new customers and increased revenue generated from existing customers , which includes full year impact of prior year sales , sales of new services to existing customers and contractual growth . license fiscal 2020 compared to fiscal 2019 . license revenue decreased $ 3.9 million , or ( 28 % ) , in fiscal 2020 versus fiscal 2019 primarily due to a decrease in multi-year license deals and fees related to growth in dwp for license customers as a result of our shift to selling our saas solutions to new customers . fiscal 2019 compared to fiscal 2018 . license revenue decreased $ 7.2 million , or ( 34 % ) , in fiscal 2019 versus fiscal 2018 primarily due to our focus on selling our saas solutions to new customers and the revisions to contracting practices in fiscal 2018 to sell our term licenses with an initial two-year committed term and optional annual renewals instead of our historical three to six year committed terms . these decreases were partially offset by the conversion of a large perpetual license contract to an enterprise-wide term license contract , which shifted the revenue mix away from maintenance revenue and into license revenue . maintenance and support fiscal 2020 compared to fiscal 2019 . maintenance and support revenue decreased $ 0.2 million , or ( 1 % ) , in fiscal 2020 versus fiscal 2019 primarily due to the conversion of license contract customers to saas customers in the previous fiscal year . fiscal 2019 compared to fiscal 2018 . maintenance and support revenue decreased $ 2.1 million , or ( 8 % ) , in fiscal 2019 versus fiscal 2018 primarily due to the conversion of a large perpetual license contract to an enterprise-wide term license contract , which shifted the revenue mix away from maintenance revenue and into license revenue , and the conversion of two license contract customers to saas customers . professional services fiscal 2020 compared to fiscal 2019 . professional services revenue increased $ 16.4 million , or 21 % in fiscal 2020 versus fiscal 2019 primarily due to growth of our existing software customer base and new customer implementations . fiscal 2019 compared to fiscal 2018 . professional services revenue increased $ 7.5 million , or 11 % , in fiscal 2019 versus fiscal 2018 primarily due to growth of our existing software customer base and new customer implementations . cost of revenue fiscal 2020 compared to fiscal 2019 . cost of revenue increased $ 25.0 million , or 35 % , in fiscal 2020 versus fiscal 2019. fiscal 2019 compared to fiscal 2018 . cost of revenue increased $ 7.8 million , or 12 % , in fiscal 2019 versus fiscal 2018 . 62 cost of subscriptions fiscal 2020 compared to fiscal 2019 . cost of subscription revenue increased $ 10.7 million , or 44 % , in fiscal 2020 versus fiscal 2019 primarily due to an increase in saas customers , and is primarily comprised of a $ 5.1 million increase in hosting costs , a $ 3.9 million increase in payroll and related costs as we added employees to build out the saas operations team , a $ 0.7 million increase in computer hardware and software costs and a $ 0.1 million increase in professional service fees . share-based compensation increased $ 0.4 million in fiscal 2020 versus fiscal 2019 due to incremental charges related to employee stock options and phantom unit settlements as part of the reorganization transactions in conjunction with the ipo . beginning in fiscal 2020 , the company recorded $ 0.7 million of amortization expense associated with capitalized internal-use software costs . these increases were offset by a $ 0.2 million decrease in travel and entertainment expenses . fiscal 2019 compared to fiscal 2018 . cost of subscription revenue increased $ 1.9 million , or 9 % , in fiscal 2019 versus fiscal 2018 primarily due to an increase in saas customers , and is comprised of a $ 0.8 million increase in payroll and related costs as we added employees to build out the saas operations team , a $ 0.6 million increase in third-party software costs , a $ 0.5 million increase in consulting costs and a $ 0.1 million increase in royalties paid related to subscription arrangements . the increases were offset by a $ 0.4 million decrease due to eliminating redundancies in our external data hosting costs . cost of license fiscal 2020 compared to fiscal 2019 . cost of license revenue decreased $ 0.1 million , or ( 6 % ) in fiscal 2020 versus fiscal 2019 primarily due to a decrease in royalties paid to third parties resulting from the decrease in license revenue . fiscal 2019 compared to fiscal 2018 . cost of license revenue decreased $ 0.2 million , or ( 7 % ) , in fiscal 2019 versus fiscal 2018 primarily due to a decrease in royalties paid to third-parties resulting from the decrease in license revenue . cost of maintenance and support fiscal 2020 compared to fiscal 2019 . cost of maintenance and support revenue increased $ 0.6 million , or

