Appian Corp at KeyBanc Technology Leadership Forum Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tom Blakey - KeyBanc - Analyst : Appian operates in several different process automation markets. And I would qualify it as sometimes a misunderstood name. So why don't just kind of maybe give its due in terms of giving us a brief overview of how you're competitively differentiate who your key competitors are. What the value prop for the platform is?

Question: Tom Blakey - KeyBanc - Analyst : Was a perfect segue into the mission criticality processes that are being built on your platform from a macro perspective. Lot of companies have talked about softness elongated sales cycles, certainly [net sales] next to the contract size. Your million-dollar pair of cohorts has been the fastest-growing cohort. So you have to bucket that trend. Just maybe give us an update in terms of what's driving it, outside of the introduction you just kind of give?

Question: Tom Blakey - KeyBanc - Analyst : Any change in the vertical mix or type of application or business process automation and that kind of more seven-figure deals from new logo perspective?

Question: Tom Blakey - KeyBanc - Analyst : Maybe there we can talk on that, touch on that from a cross-sell perspective, across agencies. But your go-to-market strategy has been pretty clear to expand into new channels that have been [build in May]. We just talked that. And just maybe talk us through the go-to-market strategy. How that changed over time, or do you expect it to go forward as you try to decrease the professional services percentage of [every around here]?

Question: Tom Blakey - KeyBanc - Analyst : Prepackaged applications certainly have reference accounts. It's huge in your business. But specifically must be packaged solutions as unique, I believe to Appian, maybe give us a broader update in terms of percentage of revenue dollars and some metrics to have the -- to help us here. More importantly, what's the reuse? You talked about improving go-to-market, but how customizable -- how customized is that application you need to be to -- can be implemented or installed around the next customer of the same vertical?

Question: Tom Blakey - KeyBanc - Analyst : So 95% used some of the prepackaged applications, of course, (multiple speakers) REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2023 / 5:30PM, APPN.OQ - Appian Corp at KeyBanc Technology Leadership Forum

Question: Tom Blakey - KeyBanc - Analyst : You talked -- discussed the margin impact, the long-term margin impacted at Appian, related to selling vertical solutions.

Question: Tom Blakey - KeyBanc - Analyst : But from even perspective, less touch (multiple speakers)

Question: Tom Blakey - KeyBanc - Analyst : Maybe that's a perfect segue to Gen-AI and I'm not just asking in the general sense this way I promise. Because one of the top use cases of Gen-AI, if you look at most studies, is to increase the efficiency of coding so that we fall right into your [valuation]. Can you maybe just give us an update there in terms of, any thing you've seen in the last nine months on your end, in terms of increase of efficiencies with your coders or anything else that your customers are working with you in?

Question: Tom Blakey - KeyBanc - Analyst : You mentioned that you're at Appian world -- I think it was part of your CRO's presentation about -- and you mentioned it earlier just five minutes ago about increased usage of a larger global SIs. They're already your partners today. Is there anything changing fundamentally in terms of a large customer, need for automation, hyper automation. I mean, if it's being driven by AI, I don't know. But why all of a sudden now with the GSIs maybe wanted to bring in more GSIs in terms of your go-to-market launch?

Question: Tom Blakey - KeyBanc - Analyst : Makes sense. Can you mention private AI mark? This is fundamentally, I believe, different in terms of the company's approach. The current approaches, public AI in the context of using public data in a public way and mostly shared. The idea I'm trying to summarize it here, is that you want to use the company's data, keep it behind basically the firewall, so to speak. And had that data to be anywhere it wants, so there's no moving it around and spread data like data warehouse perspective. This is what your private AI solution is. So your new data fabric should be basically a virtual database. So walk us through like maybe the initial conversations you're having with customers in terms of initially. I know this is new, but this is a big statement by Appian and wondering what the initial conversations are like?

Question: Tom Blakey - KeyBanc - Analyst : Can you bring up that hierarchy, if you will, in terms of how this would work at the virtual database part of it? We get the data because that's already there. Who will be responsible for creating the LLMs in a machines, the models for the company to use, will that be Appian?

Question: Tom Blakey - KeyBanc - Analyst : But you mentioned just there that you would be -- that Appian would help create the model?

Question: Tom Blakey - KeyBanc - Analyst : And how -- just in the context of verticals and the history for heritage of Appian, how replicable and reusable will those models be, not that the data across your private AI customers?

Question: Tom Blakey - KeyBanc - Analyst : Any questions from you -- yeah, Andrew, please. Unidentified Participant Couple of questions. How big is the largest dedicated biopharma strategy. And two, are you all sending these those partners or these (inaudible) REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2023 / 5:30PM, APPN.OQ - Appian Corp at KeyBanc Technology Leadership Forum

Question: Tom Blakey - KeyBanc - Analyst : I'm afraid this is all the time we have. Thank you very much, Sri and Mark. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2023 / 5:30PM, APPN.OQ - Appian Corp at KeyBanc Technology Leadership Forum