The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: Congrats from me as well. Bill, you talked about the power of the platform with really a consumer-grade interface. But also, I think
the simplified buying process, new ELAs is really powerful. And you called out Deloitte. I guess I wanted to double-click on that a bit
and really the importance of the simplified buying process and how you see that benefiting really new account acquisition as well
as expansion.
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: Makes sense. And maybe just a quick one for Gina. Last quarter, you talked about net new ACV acceleration. And I guess maybe I
can assume based on your increased guidance what the answer is. But curious if you have any thoughts on net new ACV.
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: A hearty congratulations on another spectacular quarter. I couldn't help but notice that the net new ACV contribution from your
core IT workflow business was up very sharply. Curious to get your thoughts on what's happening in that segment of the market.
And Bill, I also noticed that the headcount in sales and marketing also went up pretty significantly. Can you just talk about what the
implications are for, number one, the increase in the net new business coming from your core business, coupled with what seems
to be a pretty gigantic increase in sales and marketing, which I guess is a positive? But I just want you to give me the implications of
these 2 observations. Congrats.
Question: Arjun Rohit Bhatia - William Blair & Company L.L.C., Research Division - Analyst
: Perfect. Congrats on the quarter. I wanted to start off maybe with the new customers because it clearly seems like there's strong
traction there and your platform is broader than it used to be many years ago. I'm wondering how many of your new customers are
coming in off the bat outside of your core IT workflows in HR, in customer service management. Are you seeing traction there from
new customers? Or is that mostly a point of expansion from existing customers?
Question: Arjun Rohit Bhatia - William Blair & Company L.L.C., Research Division - Analyst
: Perfect. That's great to hear. And one more, if I can follow up on Gregg's question about reopening. I'm curious if the Delta variant
or any impact from that is coming up in your conversations with customers and whether this is something that you're factoring -- if
you're factoring that into guidance at all at this point or if it's still too early to bake in any impact from the impact of verticals on that
front.
Question: Arjun Rohit Bhatia - William Blair & Company L.L.C., Research Division - Analyst
: Great. Congrats again.
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