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?
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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