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: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: The first question is going to be for Ken here. Ken, can you give us some color on cloud mix in Q4 and conversions to cloud? And then maybe just
for our benefit, tie -- if you -- tie back the Q4 top line results to your bridging -- to your prior commentary about what happens as your cloud mix
changes so then I can tie -- I'd like to tie it back to kind of your initial guidance for the year and then how your view of the year evolved as it went
on.
And then lastly on that, maybe help us with what are some of the variables that could impact fiscal '21. I'm maybe a little surprised that you didn't,
as a baseline, assume your cloud mix would be more significantly higher than 50%. So -- and then I've got one quick follow-up.
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: Got it. Okay. And this one is probably for Alan here, Project fnx. Maybe a quick update there. And kind of remind us what functionalities or use
cases do you think are going to benefit most immediately as you innovate around your platform and adopt microservices, et cetera? Where are
you taking that in the short term, Alan?
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: This is Pinjalim sitting in for Mark. Alan, quick question on the Process Fabric product that you're talking about in the conference last year. Any
updates on that, how that has been doing? Or what is the initial feedback from customers?
And then I'm curious to hear how are you thinking about this hot space that's emerging around process mining and what is Pega doing around
that.
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FEBRUARY 17, 2021 / 10:00PM, PEGA.OQ - Q4 2020 Pegasystems Inc Earnings Call
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: Understood. And Ken, one quickly for you. On the ACV growth rate, when I'm looking at 20%, 21% around, I think you said 1 to 2 points of currency
headwinds. So if I adjust for that, it seems like it might have dipped below 19%. I mean, don't get me wrong, it's still good at that scale. But if I
compare it to a year ago, maybe it was 22% and now maybe sub-20%. Is there -- can you weave out what has -- what is causing that? Have you
seen actually more impact from COVID in Q4 or anything that -- to call out?
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