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: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: What a finish to the fiscal year. Several metrics to that, but Aneel, I'm just curious to get your take. The number of transactions in
fiscal '22, up 67%. Your total subscription backlog, if I heard you right, was up 27%. And you're now close to 70% of Fortune 500.
And I think the number was about 50% not too long ago. It's clearly an acceleration in your reported results, and you're calling for
acceleration in fiscal '23.
As you look at this, what is the best way to look at your longer-term targets? Is there -- are we tracking even quicker towards the
longer-term target, just at a very high level?
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FEBRUARY 28, 2022 / 9:30PM, WDAY.OQ - Q4 2022 Workday Inc Earnings Call
Aneel Bhusri - Workday, Inc. - Co-Founder, Co-CEO & Chairman of the Board
Thank you for the question, Kash. This was a phenomenal year, the fastest growth we've had in several years from a new ACV bookings
perspective. I first want to thank the team, Doug Robinson and Chano, for driving great results. I also think it comes back to existing
customer satisfaction and a growing product line. And that combination with the innovation that we're building into these products,
I think, is really driving that growth.
Also, I think for anybody that was going through the pandemic and was still on-premise, it was really tough to run your business
with those kind of applications. And so as difficult as the pandemic was, I do think it was a forcing function to move to the cloud for
the ability to run your business remotely or at least in a hybrid manner, and we benefited from that. And I also think the competitive
landscape continues to be positive for Workday. So very optimistic going forward. And we'll see where it goes, but we're very
optimistic going forward.
Chano, anything to add?
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