Workday Inc (WDAY) 2015 Q2 法說會逐字稿

Welcome to Workday's second-quarter earnings call.

歡迎參加 Workday 第二季財報電話會議。

(Operator Instructions)

（操作員說明）

With that I will hand it over to Mike Haase.

接下來我將把它交給邁克哈斯 (Mike Haase)。

Welcome to Workday's second-quarter FY15 earnings conference call.

歡迎參加 Workday 2015 財年第二季財報電話會議。

On the call we have Aneel Bhusri, our CEO, and Mark Peek, our CFO.

我們的執行長阿尼爾·布斯里 (Aneel Bhusri) 和首席財務官馬克·皮克 (Mark Peek) 參加了電話會議。

Following their prepared remarks, we will take questions.

在他們準備好的發言之後，我們將回答問題。

Our press release was issued after close of market and is posted on our website where this call is being simultaneously webcast.

我們的新聞稿是在收盤後發布的，並發佈在我們的網站上，該電話會議同時進行網路直播。

Statements made on this call include forward-looking statements such as those with the words will, believe, expect, anticipate and similar phrases that denote future expectation or intent regarding our financial results, applications, customer demand, operations and other matters.

本次電話會議中所做的陳述包括前瞻性陳述，例如帶有“將”、“相信”、“期望”、“預期”等詞語的陳述以及表示有關我們的財務業績、應用、客戶需求、運營和其他事項的未來預期或意圖的類似短語。

These statements are subject to risks, uncertainties and assumptions.

這些陳述受到風險、不確定性和假設的影響。

Please refer to the press release and risk factors and documents filed with the Securities and Exchange Commission including our most recent quarterly report on Form 10-Q for information on risks and uncertainties that may cause actual results to differ materially from those set forth in such statements.

請參閱新聞稿以及向美國證券交易委員會提交的風險因素和文件，包括我們最新的10-Q 表季度報告，以了解可能導致實際結果與此類聲明中所述結果存在重大差異的風險和不確定性資訊.

In addition, during today's call we will discuss non-GAAP financial measures.

此外，在今天的電話會議中，我們將討論非公認會計準則財務指標。

These non-GAAP financial measures, which are used as measures of Workday's performance, should be considered in addition to, not as a substitute for, or an isolation from GAAP results.

這些用作 Workday 業績衡量標準的非 GAAP 財務指標應被視為對 GAAP 業績的補充，而不是替代或孤立於 GAAP 業績之外。

Our non-GAAP measures exclude the effect on our GAAP results of share-based compensation, employer payroll taxes on employee stock transactions, non-cash interest expense associated with our convertible notes and for FY14, also exclude amortization of acquisition-related intangible assets.

我們的非公認會計原則措施不包括以股票為基礎的薪資、員工股票交易的雇主薪資稅、與我們的可轉換票據相關的非現金利息費用對我們公認會計原則結果的影響，2014 財年也不包括與收購相關的無形資產攤銷。

You can find additional disclosures regarding these non-GAAP measures including reconciliations with comparable GAAP results in our earnings press release and on the investor relations page of our website.

您可以在我們的收益新聞稿和我們網站的投資者關係頁面上找到有關這些非公認會計原則措施的其他披露信息，包括與可比較公認會計原則結果的調節表。

Also the customers page of our website includes a list of selected customers and is updated at the beginning of each month.

此外，我們網站的客戶頁麵包含選定客戶的列表，並在每個月初更新。

The webcast replay of this call will be available for the next 45 days in our Company website under the investor relations link.

本次電話會議的網路直播重播將在未來 45 天內在我們公司網站的投資者關係連結下提供。

Our third-quarter quiet period begins at the close of business October 17, 2014.

我們的第三季靜默期從 2014 年 10 月 17 日營業結束時開始。

Unless otherwise stated, all financial comparisons in this call will be to our results for the comparable period of our FY14.

除非另有說明，本次電話會議中的所有財務比較都將與我們 2014 財年可比期間的業績進行比較。

Lastly, before I hand it off to Aneel, Workday Rising is coming up in early November and falls within our quiet period, so we are not able to host the investment community at Rising this year and we expect to hold our Analyst Day during the spring of 2015.

最後，在我將其交給 Aneel 之前，Workday Rising 將於 11 月初舉行，屬於我們的安靜期，因此我們今年無法在 Rising 上接待投資界人士，我們預計將在春季舉辦分析師日2015 年。

We will provide more specific details as we get closer to the date.

隨著日期的臨近，我們將提供更多具體細節。

With that let me hand it over to Aneel.

接下來讓我把它交給阿尼爾。

Thank you, Mike, and hello, everyone, on the call.

謝謝你，麥克，大家好。

Thank you for joining us.

感謝您加入我們。

I'm happy to say that we had another great quarter across the board.

我很高興地說，我們又度過了一個全面出色的季度。

In the second quarter, our customer count for Human Capital Management far surpassed the 700 mark and we're closing in on 100 customers for our Financial Management application.

第二季度，我們的人力資本管理客戶數量遠遠超過了 700 個大關，我們的財務管理應用程式客戶數量也接近 100 個。

Due to the increasing size of our business and the diverse mix of very large to medium size customers, we decided that we will no longer share specific customer counts on a quarterly basis.

由於我們的業務規模不斷擴大以及大中型客戶的多樣化，我們決定不再按季度共享特定客戶數量。

Going forward we will share new customer counts only as we reach significant milestones, so when we reach 100 Financial customers, for example, we will let you know.

展望未來，我們只會在達到重要里程碑時分享新客戶數量，因此，例如，當我們達到 100 個金融客戶時，我們會通知您。

While our new customers come from a wide range of industries, we have recently seen particularly strong adoption from Financial Services.

雖然我們的新客戶來自各個行業，但我們最近發現金融服務領域的採用尤其強烈。

In June we announced Unum, a Fortune 500 Company and leading provider of financial protection benefits throughout the workplace selected Workday for both HR and Finance.

6 月，我們宣布 Unum（財富 500 強公司和整個工作場所財務保護福利的領先提供者）選擇為人力資源和財務部門提供 Workday。

In the second quarter, we welcomed two more extremely notable Fortune 500 Financial Services companies, the one we can mention is Banc of America, one of the nations leading financial institutions and our new largest customer to date.

第二季度，我們迎來了兩家極其著名的財富500 強金融服務公司，其中我們可以提到的一家是美國銀行，它是美國領先的金融機構之一，也是我們迄今為止最大的新客戶。

We also had a particularly strong quarter in Europe, adding several global customers who we'll be able to discuss the upcoming months.

我們在歐洲的季度表現也特別強勁，增加了幾位全球客戶，我們將能夠在接下來的幾個月中討論這些客戶。

Despite the rumors out there, I feel it's worth clarifying that McDonald's is not a customer.

儘管有謠言，但我覺得有必要澄清一下，麥當勞不是顧客。

We would be extremely honored to have them though and if they do join Workday we will serve Happy Meals at our next Analyst Day.

不過，我們將非常榮幸地邀請他們，如果他們確實加入 Workday，我們將在下一個分析師日提供開心樂園餐。

Mark assures me we that have enough cash to cover this.

馬克向我保證我們有足夠的現金來支付這筆費用。

Now I'd like to transition from new customers to live customers because the real measure of success is the value those customers get from Workday when they use it to transform their businesses.

現在，我想從新客戶過渡到現有客戶，因為成功的真正衡量標準是客戶在使用 Workday 來實現業務轉型時從 Workday 中獲得的價值。

As of the end of the second quarter, more than two-thirds of our total customer base was live and all of them are using the same version, Workday 23.

截至第二季末，我們總客戶群中有超過三分之二是在線的，他們都使用相同的版本 Workday 23。

Thank you to the Workday team including our excellent partners for remaining so incredibly focused on customer success.

感謝 Workday 團隊，包括我們優秀的合作夥伴，感謝他們始終如此專注於客戶的成功。

We're also seeing some really positive growth in our services ecosystem.

我們也看到我們的服務生態系統出現了一些真正積極的成長。

On our last call, I shared that HP went live as our largest customer in production.

在我們上次的電話會議上，我分享了惠普作為我們最大的生產客戶上線。

Since then in Q2, HP announced enterprise application services for Workday.

此後在第二季度，惠普宣布推出 Workday 企業應用服務。

HP will leverage its expertise in cloud, mobile, analytics and big data combined with the hands-on experience it gained from rolling out Workday internally to offer deployment services to new Workday customers.

惠普將運用在雲端、行動、分析和大數據方面的專業知識，結合在內部推出 Workday 中獲得的實務經驗，為新的 Workday 客戶提供部署服務。

And another Workday customer, CSC, a global leader in IT services and solutions with more than 70,000 employees, recently announced it will establish a Workday deployment practice.

另一個 Workday 客戶 CSC，一個擁有 70,000 多名員工的全球 IT 服務和解決方案領導者，最近宣布將建立 Workday 部署實踐。

We believe strongly in doing business with our customers and we thank HP and CFC for their continued investments in our partnership.

我們堅信與客戶開展業務，並感謝 HP 和 CFC 對我們合作夥伴關係的持續投資。

To support our increasing customer demand in Europe, we continue to grow our local employee base.

為了滿足歐洲日益增長的客戶需求，我們不斷擴大當地員工隊伍。

In June we announced plans to create 200 new positions in Ireland over the next three years.

6 月，我們宣布計劃未來三年在愛爾蘭設立 200 個新職位。

Over the summer I spent time with our employees and customers in our Dublin, London and Paris offices and I was proud to experience firsthand the consistency in our unique employee culture and laser customer focus.

整個夏天，我在都柏林、倫敦和巴黎辦事處與員工和客戶共度時光，我很自豪能夠親身體驗我們獨特的員工文化和以客戶為中心的一致性。

Before I end, I'd like to extend a warm welcome to a very new and special member of the Workday team, former IBM executive Randy Hendricks has joined us as President of our Education and Government business.

在結束之前，我要熱烈歡迎 Workday 團隊的一位非常新的特殊成員，前 IBM 高管蘭迪·亨德里克斯 (Randy Hendricks) 加入我們，擔任教育和政府業務總裁。

Reporting directly to Dave, Randy will be responsible for sales services and strategy of our HR, finance and student applications for our education and government customers.

蘭迪直接向戴夫匯報，負責為教育和政府客戶提供人力資源、財務和學生應用程式的銷售服務和策略。

And now over to you Mark.

現在輪到你了，馬克。

Thanks, Aneel, and good afternoon, everyone.

謝謝，Aneel，大家下午好。

We closed the first half of FY15 with a very successful quarter generating record quarterly revenues and trailing 12 months operating cash flows.

我們以非常成功的季度結束了 2015 財年上半年，創造了創紀錄的季度收入和過去 12 個月的營運現金流。

Operationally, we continue to execute well.

在營運方面，我們繼續執行良好。

Although still a small part of our volume, our customer renewal rates were once again very strong.

儘管仍然只占我們銷售的一小部分，但我們的客戶續訂率再次非常強勁。

Total ACV on Q2 renewals exceeded $10 million for the first time.

第二季續訂的 ACV 總額首次超過 1,000 萬美元。

We continue to focus on customer satisfaction and believe once we sign and deploy a customer, we keep that customer.

我們繼續專注於客戶滿意度，並相信一旦我們簽署並部署了客戶，我們就會留住該客戶。

We also increased the investments in our data centers, new product initiatives and expansion of our office facilities to accommodate growth.

我們也增加了對資料中心、新產品計劃和辦公設施擴建的投資，以適應成長。

Our balance sheet remains strong with more than $1.8 billion of cash and marketable securities, over $480 million of unearned revenue and our trailing 12 months operating cash flows continue to be positive.

我們的資產負債表仍然強勁，擁有超過 18 億美元的現金和有價證券、超過 4.8 億美元的未實現收入，而且我們過去 12 個月的營運現金流仍然為正。

We are pleased with our accomplishments and we want to thank our employees, our partners and our customers.

我們對我們的成就感到高興，並感謝我們的員工、合作夥伴和客戶。

I'll now walk you through the financial details of the second quarter.

現在我將向您介紹第二季的財務細節。

Derived billings for the quarter were once again very strong and exceeded our expectations.

本季的衍生性帳單再次非常強勁，超出了我們的預期。

This was largely driven by several large contracts that closed during the quarter.

這主要是由本季關閉的幾份大型合約推動的。

Looking forward, we expect total derived billings for the third quarter to be approximately $225 million to $230 million.

展望未來，我們預計第三季的衍生性帳單總額約為 2.25 億至 2.3 億美元。

For the year, we anticipate derived billings to be approximately $940 million to $960 million.

今年，我們預計派生帳單約為 9.4 億至 9.6 億美元。

Total revenues for the second quarter were $186.8 million, an increase of 74% from a year ago.

第二季總營收為 1.868 億美元，年增 74%。

As the vast majority of our sales are currently in US dollars the impact of exchange rates is minimal.

由於目前我們的絕大多數銷售額均以美元計價，因此匯率的影響微乎其微。

Subscription revenues for our cloud applications were $143.7 million, up 77% from last year.

我們的雲端應用程式訂閱收入為 1.437 億美元，比去年成長 77%。

The over achievement in Q2 billings provided modest upside to subscription revenues.

第二季的超額收入為訂閱收入帶來了適度的成長。

The weighted average duration of new contracts signed in our second quarter was approximately 3.3 years.

第二季新簽合約的加權平均期限約為 3.3 年。

This was down sequentially due to fewer deals with extended contract terms as compared to the prior quarter.

由於與上一季相比，延長合約期限的交易減少，該數字環比下降。

Professional services revenue was $43.1 million, an increase of 63% compared to last year.

專業服務收入為4,310萬美元，比去年成長63%。

Job one in professional services continues to be the successful deployment of our cloud applications whether by our ecosystem partners or us.

專業服務的首要任務仍然是成功部署我們的雲端應用程序，無論是由我們的生態系統合作夥伴還是我們自己。

Professional services revenue and margins can be a bit lumpy particularly with education and government customers.

專業服務的收入和利潤可能有點不穩定，尤其是對於教育和政府客戶而言。

Revenue from large E&G deployments can fluctuate quarter to quarter depending on customer specific terms.

大型 E&G 部署的收入可能會根據客戶的特定條款而按季度波動。

We have found professional services to be the biggest variable in forecasting our quarterly gross and operating margins.

我們發現專業服務是預測季度毛利率和營業利潤率的最大變數。

However, we are comfortable with the fact that professional services are a critical enabling force of our core cloud application business.

然而，我們對以下事實感到滿意：專業服務是我們核心雲端應用業務的關鍵推動力。

Total unearned revenue at quarter end was $481 million, up 4% sequentially and 48% from a year ago.

季度末未實現收入總額為 4.81 億美元，比上一季增長 4%，比去年同期增長 48%。

Over 90% of our unearned revenue is from subscription fees.

我們超過 90% 的非賺取收入來自訂閱費用。

Short-term unearned revenue was $409 million, an increase of 5% sequentially and 65% from last year.

短期未實現營收為 4.09 億美元，比上一季成長 5%，比去年成長 65%。

Long-term unearned revenue was $72 million, down 2% sequentially and down 7% from last year.

長期未實現營收為 7,200 萬美元，較上一季下降 2%，比去年下降 7%。

During the second quarter, we continued to average about one year of the total contract value being billed up front at signing.

在第二季度，我們繼續平均約一年的合約總價值在簽署時預先計費。

Looking ahead to the third quarter of FY15, the strength of our business model and continued momentum provides very good revenue visibility and we expect a solid quarter.

展望 2015 財年第三季度，我們業務模式的優勢和持續的發展勢頭提供了非常好的收入可見性，我們預計該季度將表現強勁。

Total revenues for the third quarter are expected to be within range of $200 million to $205 million or growth of 56% to 60% as compared to the prior year.

第三季總營收預計在 2 億至 2.05 億美元之間，較上年增長 56% 至 60%。

Subscription revenue is anticipated to be within a range of $155 million to $160 million reflecting year-over-year growth of 65% to 70%.

訂閱收入預計在 1.55 億美元至 1.6 億美元之間，年增 65% 至 70%。

For the year, we anticipate total revenue of approximately $760 million to $770 million or growth of approximately 62% to 64%.

我們預計今年的總收入約為 7.6 億至 7.7 億美元，成長率約為 62% 至 64%。

Subscription revenue is anticipated to be within a range of $592 million and $602 million reflecting year-over-year growth of 67% to 70%.

訂閱收入預計在 5.92 億美元至 6.02 億美元之間，年增 67% 至 70%。

Let's spend a few minutes on operating expenses and our results of operations.

讓我們花幾分鐘討論一下營運費用和營運結果。

Unless otherwise noted, all references to our expenses and operating results are on a non-GAAP basis which are reconciled in the tables posted on our investor relations website.

除非另有說明，所有對我們費用和經營業績的引用均以非公認會計原則為基礎，並在我們投資者關係網站上發布的表格中進行了核對。

We had approximately 3150 employees at the end of our second quarter and continue to anticipate adding more people in FY15 than we did in FY14.

截至第二季末，我們擁有約 3150 名員工，並且預計 2015 財年的新增員工人數將超過 2014 財年。

Remember that approximately two-thirds of our total expenses are employee related.

請記住，我們總費用中大約三分之二與員工相關。

Our second-quarter gross margin was 67.6%, up nearly 150 basis points from the first quarter.

我們第二季的毛利率為67.6%，比第一季成長了近150個基點。

Subscription gross margin was 84.2% and includes the costs related to providing our cloud applications, compensation and related expenses for the operation staff and data center networking and depreciation.

訂閱毛利率為84.2%，包括與提供雲端應用程式相關的成本、營運人員的薪資和相關費用以及資料中心網路和折舊。

This subscription gross margin improved by approximately 70 basis points sequentially due to increased revenue and the ongoing economics of our subscription model.

由於收入增加和訂閱模式的持續經濟性，訂閱毛利率環比提高了約 70 個基點。

We expect subscription revenue will increase as a percentage of total revenue over time, but that our gross margin will likely fluctuate from quarter to quarter.

我們預計訂閱收入佔總收入的百分比將隨著時間的推移而增加，但我們的毛利率可能會逐季波動。

The professional services gross margin was higher than expected driven largely by higher utilization rates.

專業服務毛利率高於預期，主要是因為使用率較高。

Our second-quarter operating loss was $19.1 million, or a negative 10.2%.

我們第二季的營運虧損為 1,910 萬美元，即負 10.2%。

This was better than we had anticipated and largely the result of the operating leverage received on increased revenue.

這比我們預期的要好，很大程度上是收入增加帶來的營運槓桿的結果。

Although long-term profitability and cash flow generation are important goals, we believe our focus today needs to be on market expansion, continued product innovation and growth.

儘管長期獲利能力和現金流生成是重要目標，但我們認為，我們今天的重點需要放在市場擴張、持續產品創新和成長。

Product development expense in the second quarter was $59.9 million, up 12% sequentially and up 60% from a year ago.

第二季產品開發費用為 5,990 萬美元，季增 12%，年增 60%。

We continued to invest in our product development for new solutions as well as strengthening and extending our suite of HR, payroll and in particular, Financial Management applications.

我們繼續投資於新解決方案的產品開發，並加強和擴展我們的人力資源、薪資、特別是財務管理應用程式套件。

Sales and marketing expense was $70.9 million, up 16% sequentially and up 69% from last year driven by our expanding marketing programs, increased head count and increased variable compensation.

銷售和行銷費用為 7,090 萬美元，比上一季增加 16%，比去年增長 69%，這主要得益於我們不斷擴大的行銷計劃、員工數量的增加以及可變薪酬的增加。

General and administrative expense was $14.6 million, up 8% from Q1 and up 42% year over year.

一般及管理費用為 1,460 萬美元，較第一季成長 8%，年增 42%。

The net loss per share was $0.11 on 184 million weighted average shares.

1.84 億股加權平均股的每股淨虧損為 0.11 美元。

The share count includes 6.9 million weighted average shares from our January follow on offering.

股票數量包括我們 1 月後續發行的 690 萬股加權平均股票。

Given our net loss, all outstanding stock options, warrants and common stock equivalents are anti-dilutive and not included in the loss per share calculation.

鑑於我們的淨虧損，所有未償還的股票選擇權、認股權證和普通股等價物都是反稀釋的，不包括在每股虧損計算中。

Taking into account our adjustments to GAAP operating income that Mike referred to at the start of the call, we currently expect our fiscal third-quarter non-GAAP operating margin to be within the range of a negative 6% to a negative 9% of total revenue, and for the year to be a negative high single-digit percentage.

考慮到麥克在電話會議開始時提到的 GAAP 營業收入的調整，我們目前預計第三財季非 GAAP 營業利潤率將在總利潤率的負 6% 至負 9% 範圍內收入，並且今年將出現高個位數的負百分比。

The GAAP operating margins for the fiscal third quarter and the full year 2015 are expected to be approximately 21 to 23 percentage points lower than the non-GAAP operating margins.

2015 財年第三季和全年的 GAAP 營業利潤率預計將比非 GAAP 營業利潤率低約 21 至 23 個百分點。

We will provide FY16 guidance during our fourth-quarter earnings call.

我們將在第四季財報電話會議期間提供 2016 財年指引。

However, next quarter in addition to the Q4 outlook, we'll provide some directional color for Q1 2016.

然而，下個季度除了第四季度展望之外，我們還將為 2016 年第一季提供一些方向性的色彩。

It's perhaps tempting to update FY16 models now, but I'd caution that you we are in the midst of our planning cycle and we fully expect to keep the pedal down on investments and do not expect non-GAAP profitability in FY16.

現在可能很想更新 2016 財年的模型，但我要提醒您，我們正處於規劃週期之中，我們完全希望減少投資，並且預計 2016 財年不會出現非 GAAP 盈利能力。

Other expenses were just under $1 million.

其他費用略低於 100 萬美元。

For your modeling, our quarterly non-GAAP interest expense from our convertible notes is approximately $1.6 million.

對於您的模型，我們可轉換票據的季度非 GAAP 利息支出約為 160 萬美元。

From a GAAP perspective, the Q3 interest expense including $6.1 million of non-cash amortizations reflecting the discount and issuance cost is expected to be approximately $7.7 million.

從 GAAP 角度來看，第三季利息支出（包括反映折扣和發行成本的 610 萬美元非現金攤提）預計約為 770 萬美元。

The interest payments on the notes are made during our fiscal second and fourth quarters.

票據的利息在我們的第二和第四財季支付。

Now on to our balance sheet and statements of cash flows.

現在我們來看看我們的資產負債表和現金流量表。

Cash and marketable securities at quarter end were $1.8 billion, down $44 million sequentially.

季末現金和有價證券為 18 億美元，比上一季減少 4,400 萬美元。

We increased our capital expenditures in the second quarter and also had a one-time payout of $18 million from the change in our US PTO policy that we mentioned last quarter.

我們在第二季度增加了資本支出，並且由於我們上季度提到的美國 PTO 政策的變化而一次性支付了 1800 萬美元。

Operating cash flows in the second quarter were negative $9 million and included the one-time PTO pay out of $18 million.

第二季營運現金流為負 900 萬美元，其中包括 1,800 萬美元的一次性 PTO 支出。

For the trailing 12 months, operating cash flows were a positive $55 million.

過去 12 個月，營運現金流為正 5,500 萬美元。

Free cash flows for the second quarter were a negative $37 million and for the trailing 12 months, a negative $28 million.

第二季自由現金流為負 3,700 萬美元，過去 12 個月為負 2,800 萬美元。

We expect to invest approximately $100 million to $110 million in CapEx during FY15.

我們預計 2015 財年資本支出將投資約 1 億至 1.1 億美元。

As mentioned before, we acquired a leasehold interest in land in Pleasanton adjacent to our existing office space.

如前所述，我們收購了普萊森頓現有辦公空間附近土地的租賃權益。

We're actively evaluating our alternatives for this site but potential development costs are not yet factored into our CapEx guidance.

我們正在積極評估網站的替代方案，但潛在的開發成本尚未納入我們的資本支出指南中。

To summarize we're very pleased with our solid second quarter.

總而言之，我們對第二季的穩健表現感到非常滿意。

Looking ahead we're investing for the long term and see a very large opportunity in front of us.

展望未來，我們正在進行長期投資，並看到擺在我們面前的巨大機會。

You should expect us to continue making significant investments in our product development and global market expansions to maximize our long-term growth opportunities.

您應該期望我們繼續在產品開發和全球市場擴張方面進行大量投資，以最大限度地提高我們的長期成長機會。

With that, let's begin the Q&A process.

接下來，讓我們開始問答過程。

(Operator Instructions)

（操作員說明）

Your first question comes from the line of Jennifer Lowe with Morgan Stanley.

你的第一個問題來自 Jennifer Lowe 與摩根士丹利的對話。

I want to talk a little bit about the ecosystem build out around implementations and partnerships on that front.

我想談談圍繞這方面的實施和合作夥伴關係所建構的生態系統。

Can you talk a little bit about what the trend has been in terms of capacity on trained people to help with the implementations for your partners?

您能否談談受過訓練的人員幫助合作夥伴實施的能力方面的趨勢？

And then related to that given that you're closing in on the 100 signed customers mark for Financial -- mark for your Financials business, when do you start -- when do you expect to start seeing some of the Financials implementations move into the ecosystem?

然後與此相關的是，考慮到您即將達到 100 個財務簽約客戶標記——您的財務業務標記，您什麼時候開始——您預計什麼時候開始看到一些財務實施進入生態系統？

So on the first question, over the last I would say 24 months, we've seen big investments from the large SIs.

關於第一個問題，我想說的是，在過去的 24 個月裡，我們看到了大型 SI 的巨額投資。

Historically, we had small boutiques of some integrators who have been terrific partners from really from day one be the majority of the implementations.

從歷史上看，我們有一些整合商的小型精品店，他們從第一天起就一直是大多數實施的出色合作夥伴。

But in the last few years starting with Deloitte, followed by Accenture, then IBM, now Pricewaterhouse, now HP, now CSC, we really have most of the key SIs building out fairly large practices in Workday.

但在過去的幾年裡，從德勤開始，然後是埃森哲，然後是IBM，現在是普華永道，現在是惠普，現在是CSC，我們確實讓大多數關鍵SI 在Workday 中構建了相當大的實踐。

So we're very pleased with the development in the general ecosystem.

因此，我們對整個生態系統的發展感到非常滿意。

On the Financial side, we now feel conformable we've got -- as we near 100 customers we've got a significant number of them live that we're ready to rollout services into the ecosystem.

在財務方面，我們現在感到很滿意——因為我們有近 100 個客戶，其中有相當多的客戶是活躍的，我們已經準備好將服務推出到生態系統中。

So you'll see more and more of the Financial Management work done by our ecosystem partners and they are all anxious to invest in that practice as well.

因此，您會看到我們的生態系統合作夥伴完成越來越多的財務管理工作，他們也都渴望投資於這種實踐。

Great and then one last one for me.

太棒了，然後是我的最後一個。

Any update on the recruiting product now that you're a little further along with that in terms of that being in market?

既然您在招募產品上市方面取得了進一步進展，那麼招募產品有什麼更新嗎？

It's not really any change directionally from the last quarter.

與上季相比，這實際上並沒有任何方向上的變化。

It continues to be a very attractive and positive driver for HCM and also a pretty typical add-on these days.

它仍然是 HCM 的一個非常有吸引力和積極的驅動因素，也是當今一個非常典型的附加元件。

So with 23, we added quite a bit more functionality in recruiting; that will continue to be the case.

因此，對於 23，我們在招募方面添加了更多功能；情況將繼續如此。

And as we had more over time it makes it easier and easier to turn off some of the legacy recruiting systems.

隨著時間的推移，我們有了更多的經驗，關閉一些遺留的招募系統變得越來越容易。

Great, thank you.

太好了，謝謝。

Your next question comes from the line of Heather Bellini with Goldman Sachs.

您的下一個問題來自高盛的希瑟貝利尼 (Heather Bellini)。

I wanted to ask a little bit about the competitive environment and see if you've noticed anything different in particular on the HCM side of things, whether it's from Oracle and SAP.

我想詢問一些有關競爭環境的問題，看看您是否注意到任何不同之處，特別是在 HCM 方面，無論是來自 Oracle 還是 SAP。

And then I had a follow up.

然後我進行了跟進。

Not really.

並不真地。

I guess the only new thing over the last few months is that both of them are offering the ability to tradeoff maintenance on their legacy applications for some of their cloud offerings.

我想過去幾個月唯一的新事物是，他們都提供了在某些雲端產品和遺留應用程式上進行權衡維護的能力。

But at the end of the other day, that still puts pressure on their cloud offerings being credible offerings and I still don't see that being the case, at least not right now.

但在前幾天結束時，這仍然給他們的雲端產品成為可靠的產品帶來了壓力，我仍然不認為情況如此，至少現在不是。

So they continue to be both very aggressive competitors in terms of pricing and that dynamic really has been the case for the better part of the last several years.

因此，他們在定價方面仍然是非常積極的競爭對手，並且在過去幾年的大部分時間裡確實如此。

Okay great.

好的，太好了。

And then the follow up would be when you're going in and making that HCM sale, can you give us a sense of how many add-on products you might be attaching now versus maybe six months or a year ago what the attach rate would have looked like?

然後，當您進行 HCM 銷售時，您能否告訴我們您現在可能會附加多少附加產品，而六個月或一年前的附加率會是多少？

I'm trying to get a sense for how fast is it to upsell and cross sell?

我想了解追加銷售和交叉銷售的速度有多快？

So on the HCM side we've always -- we've historically had good attach rates on payroll.

因此，在 HCM 方面，我們歷來在薪資單上擁有良好的附加率。

I don't know if we've seen anything that's markedly different in the last period of time.

我不知道在過去的一段時間裡我們是否看到了任何明顯不同的東西。

The really big change since 12 months ago is the addition of recruiting.

自 12 個月前以來，真正重大的變化是增加了招募。

Most everything else is part of the core HCM product.

大多數其他內容都是核心 HCM 產品的一部分。

We try not to be a Company that nickels and dimes the customer, so we try to make the purchase process straightforward and minimize the number of SKUs.

我們盡量不成為一家對客戶吝嗇的公司，因此我們盡量簡化購買流程並盡量減少 SKU 的數量。

But recruiting is a fairly large SKU, so that's been the big uptick.

但招募是一個相當大的 SKU，所以這是一個很大的成長。

And as we bring out new modules --

當我們推出新模組時——

And have you given us a sense -- I'm sorry was going to ask if you could give us a sense of what the attach rate might look like for recruiting?

您是否給我們提供了一種感覺 - 很抱歉，您是否可以讓我們了解招募的附加率？

I don't think we have enough data at this point frankly within a couple quarters to give you a good sense of that.

坦白說，我認為我們目前在幾個季度內沒有足夠的數據讓您對此有一個良好的認識。

I would say it's amongst the best we've seen across our -- across the history.

我想說，這是我們歷史上見過的最好的之一。

Whether it's expenses or procurement or payroll, recruiting is right there at the top.

無論是費用、採購或薪資，招募都是最重要的。

Thank you very much.

非常感謝。

Your next question comes from the line of Karl Keirstead with Deutsche Bank.

您的下一個問題來自德意志銀行的 Karl Keirstead。

Question for Mark.

問馬克的問題。

I was intrigued by your comment around the ACV on the 2Q renewals and I wanted to ask you if you could help us understand how an uptick in the mix of bookings from renewals trickles into the P&L.

我對您對第二季續訂的 ACV 的評論很感興趣，我想問您是否可以幫助我們了解續訂預訂組合的增加如何滲透到損益表中。

It seems to me that it would lead to upon renewal dates deals potentially getting upsized.

在我看來，這將導致續約日期後的交易規模可能會擴大。

Maybe the profitability is a little bit better given the smaller sales attach to a renewal versus an initial booking.

考慮到與初始預訂相比，續約帶來的銷售額較小，獲利能力可能會更好一些。

So love to ask you about how a renewal uptick affects the P&L.

所以很想問你續約上升如何影響損益。

Yes, and we're still dealing with a relatively limited set of data, but of course as we continue on over time with our fundamental belief that customers -- that the product is very sticky and that customers will be customers for the long term largely because of the innovation that we put into the products and the care that we give our customers it will become more meaningful.

是的，我們仍在處理相對有限的資料集，但當然，隨著時間的推移，我們繼續堅持我們的基本信念，即客戶——產品非常有黏性，客戶將在很大程度上成為長期客戶由於我們對產品的創新以及對客戶的關懷，它將變得更有意義。

But today what I really wanted to do is to give you a sense that we've now hit $10 million of ACV on renewals.

但今天我真正想做的是讓您感覺到我們的續約 ACV 現已達到 1000 萬美元。

So its becoming more meaningful to the total.

所以它對整體來說變得更有意義。

But for the most part, it is essentially just serial to the original contract and so it's being added to deferred revenue.

但在大多數情況下，它本質上只是原始合約的序列，因此它被添加到遞延收入中。

And if it's longer than a year it will be in the backlog number and doesn't have a significant short-term effect on the P&L outside of a normal booking.

如果時間超過一年，它將計入積壓訂單數量中，並且不會對正常預訂之外的損益產生重大的短期影響。

From time to time, at the renewal cycle, there will be recounts of employees in a given account, so there may be small components of additional revenue as well as the opportunity to upsell, but at this stage it's really just renewing the initial contract.

有時，在續約週期中，給定帳戶中的員工會重新計數，因此可能會有一小部分額外收入以及追加銷售的機會，但在這個階段，實際上只是續約初始合約。

Got it.

知道了。

Okay, thank you.

好的，謝謝。

Your next question comes from the line of Walter Pritchard with Citi.

你的下一個問題來自花旗集團的 Walter Pritchard。

Mark I'm wondering if you can talk a little bit about the seasonality in your business.

馬克，我想知道您是否可以談談您業務的季節性。

We're seeing it differ a little bit from last year and particularly characterized the impact of large deals on that seasonality, what we're seeing this year.

我們看到它與去年略有不同，特別是大型交易對季節性的影響，這是我們今年看到的。

And generally characterize what -- how the large deal performance was in the quarter.

並概括地描述本季大型交易的表現如何。

Was it a big large deal performance or normalized -- normal?

這是一次重大交易的表現還是正常化的──正常的？

Yes, as Aneel mentioned in his comments, Bank of America is a new customer and our largest customer to date.

是的，正如阿尼爾在評論中提到的那樣，美國銀行是我們的新客戶，也是我們迄今為止最大的客戶。

And so certainly the overall quarter is impacted by such a great new customer and a great new win.

因此，整個季度肯定受到如此出色的新客戶和出色的新勝利的影響。

For the most part as we look ahead into the second half of the year, certainly the visibility on existing billings is clear and fairly straightforward and the pipeline is one in which we take a reasonable approach to it.

在大多數情況下，當我們展望今年下半年時，現有帳單的可見性當然是清晰且相當簡單的，並且管道是我們採取合理方法的管道。

I wouldn't call it a conservative approach to it.

我不會稱之為保守的方法。

But the impact of large transactions is that the timing of closing them is always a bit uncertain as to which quarter that might happen or if it'll happen at all.

但大型交易的影響在於，關閉交易的時間總是有點不確定，可能會發生在哪個季度，或者是否會發生。

And so we don't tend to completely bank on large deals, but they are certainly a big part of our overall mix.

因此，我們並不傾向於完全依賴大型交易，但它們無疑是我們整體組合的重要組成部分。

And frankly it's one of the reasons that we are going to move away from giving point data on the number of customers that we have because our customers do range all the way from Bank of America to companies with a 1,000 people or so and so the raw number of actual customers we have becomes less meaningful.

坦白說，這是我們不再提供有關客戶數量的點數據的原因之一，因為我們的客戶範圍廣泛，從美國銀行到擁有 1,000 名員工左右的公司，等等。得不再那麼有意義。

And then for Aneel on the Financial side, could you characterize either in terms of deal size or types of customers or verticals, is there any change in complexity in that base as you move towards the 100 number of signed customers?

然後，對於財務方面的 Aneel，您能否從交易規模或客戶類型或垂直領域來描述，當您向 100 名簽約客戶邁進時，該基礎的複雜性是否有任何變化？

I'd characterize where we are today is that we've gotten very good at selling to medium sized companies.

我認為我們今天所處的位置是我們非常擅長向中型公司銷售。

And if you look at our customer list, medium sized meaning 3,000, 4,000, 5,000 to 10,000 employees and where the next push is to go above that size.

如果你看我們的客戶名單，中等規模意味著有 3,000、4,000、5,000 到 10,000 名員工，下一步的目標是超越這個規模。

But very comfortable now with medium sized companies and I wouldn't have said that 12 months ago.

但現在我對中型公司非常滿意，12 個月前我不會這麼說。

We were definitely dealing with smaller companies.

我們肯定是在和小公司打交道。

But with companies like Netflix going live and Lifetime Fitness with 18,000 employees being live across all of our products, we're just gaining confidence and continuing to move up market.

但隨著 Netflix 等公司的上線，以及擁有 18,000 名員工的 Lifetime Fitness 上線我們所有的產品，我們正在獲得信心並繼續向高端市場邁進。

And increasingly we are seeing as the Financial products get traction, the interest in customers, in particular non-manufacturing customers, to look at getting the whole suite together of HR and Financial products, in particular say in that -- in our mid-market segment.

我們越來越多地看到，隨著金融產品受到關注，客戶，特別是非製造業客戶，開始考慮將人力資源和金融產品的整套產品整合在一起，特別是在我們的中端市場部分。

Customers would tend to choose fewer rather than more vendors and we've seen a nice set of trends in that marketplace.

客戶傾向於選擇更少而不是更多的供應商，我們在該市場中看到了一系列很好的趨勢。

Great, thank you very much.

太好了，非常感謝。

Your next question comes from the line of Brian Schwartz with Oppenheimer.

你的下一個問題來自布萊恩·施瓦茨和奧本海默的對話。

Yes, hi thank you and congratulations on the results here today.

是的，嗨，謝謝你，恭喜今天的結果。

I had a follow-up question on the seasonality in the second half.

我有一個關於下半年季節性的後續問題。

Mark, you had previously mentioned that typically about 60% of the year's bookings come in the second half and I'm wondering if anything has changed with that previous linearity assessment?

馬克，您之前提到過，一年中大約 60% 的預訂通常發生在下半年，我想知道之前的線性評估是否有任何變化？

Well, it somewhat remains to be seen.

嗯，這還有待觀察。

As we talked about last quarter we had some large transactions that were pulled in from the second quarter and the third quarter.

正如我們談到的上個季度，我們有一些大額交易是從第二季和第三季拉來的。

And so the linearity can tend to move depending on the very large accounts because of the overall size of their employee bases tend to dwarf the average billings per customer.

因此，線性可能會根據非常大的客戶而變化，因為其員工基礎的整體規模往往會使每個客戶的平均帳單相形見絀。

So we're not seeing, I would say, meaningful change.

所以我想說，我們沒有看到有意義的改變。

It's still an enterprise sale, the fourth quarter both for our customers and for us tends to be seasonably the strongest, which is why it tends to be weighted more towards a majority in the second half of the year.

這仍然是企業銷售，對於我們的客戶和我們來說，第四季度往往是季節性最強的，這就是為什麼它往往更傾向於下半年的大多數。

Thank you.

謝謝。

And then follow-up question for Aneel on the Financials.

然後是 Aneel 關於財務的後續問題。

You've highlighted Bank of America here on the call as a new customer this quarter, Netflix as a live, enterprise customer last quarter.

您在電話會議上強調了美國銀行是本季的新客戶，Netflix 是上季度的即時企業客戶。

Is the medium size segment, is that still the sweet spot here for Financials for the foreseeable future?

在可預見的未來，中型細分市場是否仍是金融業的最佳選擇？

And what do you feel is the right number of referenceable enterprise customers for Financials needed or product capabilities needed before the business moves up market in a greater fashion from a market awareness and branding perspective for Financials?

您認為，從金融領域的市場知名度和品牌角度來看，在業務以更大的方式進入市場之前，所需的金融領域可參考的企業客戶數量或所需的產品功能是多少？

Thanks.

謝謝。

So first of all Bank of America was an HCM customer, not a Financials customer.

首先，美國銀行是 HCM 客戶，而不是金融客戶。

The one we mentioned in the opening remarks was Unum, which is a very large insurance company that is using both our HR and Financial products, so a clarification there.

我們在開場白中提到的是 Unum，這是一家非常大的保險公司，正在使用我們的人力資源和財務產品，因此需要澄清一下。

In terms of references, I feel very comfortable with where we are reference wise.

就參考資料而言，我對我們的參考資料感到非常滿意。

Our Financial customers are generally happy, they're as referenceable as our HR customers.

我們的財務客戶總體上很滿意，他們與我們的人力資源客戶一樣具有參考價值。

There are clearly still gaps that we're closing on an update-by-update basis for the Financial products.

顯然，我們正在逐次更新金融產品，以彌補差距。

I've talked about it on I think really on every call since we went public.

自從我們上市以來，我確實在每次電話會議上都談到過這個問題。

It's this journey on the path of both scalability and global capabilities that we're on and every update scalability improves and every update we add more global functionality.

我們正在沿著可擴展性和全局功能的道路前進，每次更新可擴展性都會提高，每次更新我們都會添加更多全域功能。

Going into FY16 in January we're going to begin to sell our Financial products outside the US, which should give you some confidence as our view on the global capabilities.

進入 2016 財年 1 月份，我們將開始在美國境外銷售我們的金融產品，這應該會讓您對我們對全球能力的看法有一些信心。

And on scale, we feel comfortable scaling to probably the Fortune 500 size customer, maybe not a Fortune 100, so the smallest of the Fortune 500, which is up significantly from where we were a couple years ago.

在規模上，我們可以輕鬆地擴展到可能是財富 500 強規模的客戶，也許不是財富 100 強，因此是財富 500 強中最小的客戶，這比我們幾年前的水平有了顯著提高。

Thank you and last question for me and then I'll hop back in the queue.

謝謝你和我的最後一個問題，然後我會回到隊列。

Several of your larger system integrators partners here that we had spoken to over the last couple weeks, they sound very excited right now about the momentum of the number of new cloud computing business transformation initiatives they are seeing in their pipelines.

我們在過去幾週與這裡的幾家較大的系統整合商合作夥伴進行了交談，他們現在對他們在管道中看到的大量新雲端運算業務轉型計劃的勢頭感到非常興奮。

So I was wondering, Aneel, if you could share your own assessment on where you think central IT buyers are today towards adopting a Next Generation SaaS platform for productivity applications versus say 1 year ago or 1.5 years ago?

因此，我想知道，Aneel，您是否可以分享一下您自己的評估，即與1 年前或1.5 年前相比，您認為現在的主要IT 買家在採用下一代SaaS 平台來實現生產力應用程式方面處於什麼位置？

Thanks.

謝謝。

I think in the world of HR, and the same would hold true in the world of CRM, the market has flipped.

我認為在人力資源領域以及在客戶關係管理領域也是如此，市場已經發生了翻轉。

It's hit a tipping point where if companies are starting with a greenfield, they're going to choose cloud versus on premise.

現在已經達到了一個轉折點，如果公司從一片綠地開始，他們將選擇雲端而不是本地部署。

And for all of the people that are solid with on premise, they're increasingly switching to cloud.

對於所有堅持本地部署的人來說，他們越來越多地轉向雲端。

The functionality is there.

功能就在那裡。

The scalability is there.

可擴展性就在那裡。

The functionality is now ahead of where the legacy systems sit.

該功能現在領先於遺留系統。

And added to that the systems integrators have all, over the last couple years, gotten much, much better at not just taking the legacy system out and putting in the cloud system and automating the old processes, but actually using Workday or Salesforce or any of these cloud solutions to transform the business.

除此之外，在過去的幾年裡，系統整合商都取得了很大的進步，不僅將遺留系統移入雲端系統並使舊流程自動化，而且實際上使用 Workday 或 Salesforce 或任何這些雲端解決方案可實現業務轉型。

Where you can look at HR and say we're going to run it differently and leverage this cloud platform, I think that's where the excitement comes from.

你可以看看人力資源部門並說我們將以不同的方式運行它並利用這個雲端平台，我認為這就是令人興奮的地方。

And a lot comes from our focus in HR and talent management.

其中很大一部分來自於我們對人力資源和人才管理的關注。

And our focus in Finance around, really around activity, true activity management and costing where we can really give you the real metrics that run your business different than some of the legacy systems could.

我們在財務方面的重點是圍繞活動、真正的活動管理和成本核算，我們可以真正為您提供與某些遺留系統不同的真實指標來運作您的業務。

And I don't think that the industry was that focused on that transformation a few years ago.

我認為幾年前該行業並沒有關注這種轉變。

Thank you.

謝謝。

Your next question comes from the line of Brent Thill with UBS.

您的下一個問題來自瑞銀集團 (UBS) 的布倫特·蒂爾 (Brent Thill)。

Aneel, look forward to that Happy Meal.

阿尼爾，期待快樂餐。

Thanks for taking the question.

感謝您提出問題。

With regards to the Financial product, I think in the past you've mentioned that technically [Europe] can scale now to the -- into the bottom end of the Fortune 500.

關於金融產品，我想您過去曾提到過，從技術上講，[歐洲] 現在可以擴展到財富 500 強的底部。

I'm curious if there's any update as it relates to your ability to go into the mid or the upper tier on the scalability or is that something to come from Rising?

我很好奇是否有任何更新，因為它與您在可擴展性方面進入中層或上層的能力有關，還是來自 Rising 的更新？

Yes, I think this quarterly release is light on some product announcements and product capabilities because we are saving them for Rising, and that's just a few months away.

是的，我認為這個季度發布的內容很少涉及一些產品公告和產品功能，因為我們將它們保存到 Rising，而這只是幾個月後的事了。

And as you know we typically make our big product announcements around Rising.

如您所知，我們通常會圍繞 Rising 發布重大產品公告。

On the scalability side, it's a journey and every update we get better, we got better on 23.

在可擴展性方面，這是一個旅程，每次更新我們都變得更好，我們在 23 上也變得更好。

I think by the end of next year, fiscal year, I just don't think the scalability issues will necessarily be ones that come up for us, I think we'll be past those.

我認為到明年年底，即財政年度，我只是認為可擴展性問題不一定會出現在我們身上，我認為我們會克服這些問題。

It's more about taking each individual process and making sure that we wire in this new processing model to make sure we can scale to the huge volumes.

更重要的是採用每個單獨的流程，並確保我們連接到這個新的處理模型，以確保我們可以擴展到龐大的數量。

But it's work that we are doing across the application and its gone well.

但這是我們在整個應用程式中所做的工作，而且進展順利。

The hard part was about 1.5 years ago when we had to design new ways of actually processing transactions for Financials to make sure that they would scale.

最困難的部分是大約 1.5 年前，當時我們必須設計新的方法來實際處理金融交易，以確保它們能夠擴展。

Okay and to clarify on Bank of America on HR, is that a wall to wall HR transformative deal or is that -- give us the scope of how far that reached.

好的，澄清一下美國銀行在人力資源方面的情況，這是一項全面的人力資源變革性交易，還是——請告訴我們該交易所達到的範圍。

Their plan is to roll out Workday for their HR solution globally for their 300,000 employees.

他們的計劃是在全球範圍內為 30 萬名員工推出 Workday 人力資源解決方案。

Great, thank you.

太好了，謝謝。

Your next question comings from the line of Brendan Barnicle with Pacific Crest.

您的下一個問題來自 Brendan Barnicle 和 Pacific Crest 的線路。

Aneel, on the call you've talked about several different factors leading to some of the larger deals we've seen in the first half -- scalability, functionality, cloud adoption.

Aneel，在電話會議上，您談到了導致我們在上半年看到的一些較大交易的幾個不同因素——可擴展性、功能、雲端採用。

What do you think the biggest one or two factors have been that really lead to that scale and size that we've seen so far this year?

您認為真正導致我們今年迄今為止所看到的規模和規模的最大的一兩個因素是什麼？

I think it helps a lot that HP is now live.

我認為惠普現在上線有很大幫助。

It set a new benchmark.

它樹立了新的標竿。

Flextronics had been the previous benchmark, but HP set a new benchmark in terms of size company that can go live on Workday.

偉創力是之前的標桿，但惠普在可以上線 Workday 的公司規模方面設定了新的標竿。

So that's definitely with Bank of America now and HP, there's not really any corporate entity out there that we see that we couldn't scale to meet their needs.

因此，現在的美國銀行和惠普肯定是這樣，我們發現沒有任何公司實體無法擴展以滿足他們的需求。

I also think it's the customer satisfaction, where we're running at north of 95% customer satisfaction.

我還認為這是客戶滿意度，我們的客戶滿意度超過 95%。

As much as I love our salespeople, our customers are our best salespeople and they talk with each other.

儘管我很喜歡我們的銷售人員，但我們的客戶是我們最好的銷售人員，他們會互相交談。

And at this point, our customers are happy and they're letting other customers know about what you can do with the Workday platform.

此時，我們的客戶很高興，他們讓其他客戶知道您可以使用 Workday 平台做什麼。

Great and then following up last quarter on Financials, you mentioned that about half the customers were public sector, half were commercial.

很好，然後在上個季度的金融方面，您提到大約一半的客戶是公共部門，一半是商業部門。

Any change in that breakdown now after the additional customers this quarter?

在本季新增客戶之後，該細分現在有什麼變化嗎？

I did not mention that specific breakdown.

我沒有提到具體的細分。

I don't actually think that's accurate and we can -- at some point we'll give a more accurate break down.

我實際上認為這並不準確，但我們可以——在某個時候我們會給出更準確的細分。

The majority are commercial but we have quite a few public sector customers and I would say there was no real change directionally in percentage in this last quarter.

大多數是商業客戶，但我們有相當多的公共部門客戶，我想說上個季度的百分比沒有真正的方向變化。

Great, thanks.

太好了，謝謝。

Your next question comes from the line of Brian White with Cantor Fitzgerald.

你的下一個問題來自布萊恩懷特（Brian White）和坎托菲茨傑拉德（Cantor Fitzgerald）的對話。

Your next question comes from the line of Steve Ashley with Robert W. Baird.

您的下一個問題來自史蒂夫·阿什利 (Steve Ashley) 和羅伯特·W·貝爾德 (Robert W. Baird)。

I'd like to talk about the international business, you actually called it out in your prepared remarks and the press release.

我想談談國際業務，你在準備好的演講和新聞稿中實際上提到了這一點。

I know you just hired a new GM in Asia-Pac.

我知道您剛剛在亞太地區聘請了一位新總經理。

My question is in terms of Management capability or needs, are there anything -- any major positions or anything you need to fill out to help drive that international?

我的問題是在管理能力或需求方面，是否有任何重要職位或需要填寫的任何內容來幫助推動國際化？

And then secondly, in terms of data centers and what you're currently doing in terms of building out a physical presence overseas and what your future plans might be around that.

其次，就資料中心而言，以及您目前在海外建立實體業務方面正在做的事情，以及您未來的計劃可能會圍繞這一點進行。

Thank you.

謝謝。

So we had a very strong quarter in Europe and in Australia and as the customers give us the go ahead, we'll share some of the names over the upcoming quarters.

因此，我們在歐洲和澳洲的季度表現非常強勁，隨著客戶的同意，我們將在接下來的幾個季度分享一些名稱。

In Europe it's becoming a fairly, I wouldn't say mature, but it's a really solid business now.

在歐洲，它正在變得相當成熟，我不會說它已經成熟，但它現在是一個非常可靠的業務。

We have a great leader in Chano Fernandez.

我們有一位偉大的領導人查諾·費爾南德斯。

We've made some great hires across Europe.

我們在歐洲各地招募了一些優秀人才。

We have two data centers in Europe.

我們在歐洲有兩個資料中心。

We have a big development and support presence in Dublin.

我們在都柏林擁有大量的開發和支援人員。

So Europe is up and running and is starting to show some of the same signs of adoption that we've seen in the US.

因此，歐洲已經啟動並運行，並開始顯示出一些與我們在美國看到的相同的採用跡象。

Asia-Pacific is earlier, Australia is the first place where we started to gain some consistent traction.

亞太地區更早，澳洲是我們第一個開始獲得持續關注的地方。

We've had some good wins in China, We've got a presence in Japan that hopefully will pay dividends in the next six to nine months.

我們在中國取得了一些不錯的勝利，我們在日本也取得了進展，希望能在未來六到九個月內帶來紅利。

The one place where we really haven't made a move yet is Latin America and that's something that we think about and talk about, but we have not hired yet an executive to cover the Latin American geography.

我們真正還沒有採取行動的地方是拉丁美洲，這是我們思考和談論的事情，但我們還沒有聘請一位高階主管來負責拉丁美洲地區的業務。

We feel very good about the other geographies though.

不過，我們對其他地區的感覺非常好。

Perfect.

完美的。

Thank you very much.

非常感謝。

Your next question comes from the line of Justin Furby with William Blair.

你的下一個問題來自賈斯汀·福比和威廉·布萊爾的對話。

Aneel, I was wondering if you could look -- if you look at the pipeline for the next couple of quarters or even the next year, if you look at between recruiting, Financials, big data, could you stack rank those?

Aneel，我想知道你是否可以看看 - 如果你看看未來幾個季度甚至明年的管道，如果你看看招聘、財務、大數據，你能否對這些進行排名？

And then if you look out three to five years, what's your latest view on where you think Financials is as a percentage of new business?

然後，如果您展望三到五年，您對金融業務在新業務中所佔百分比的最新看法是什麼？

In terms of the pipeline, honestly I couldn't give you a very specific answer.

就管道而言，老實說我無法給你一個非常具體的答案。

All three are the growing pipelines.

這三個都是不斷成長的管道。

I'd say the smallest one right now is big data.

我想說現在最小的就是大數據。

A lot of customers are waiting to see what happens when we bring big data into the Workday data center.

許多客戶都在等待我們將大數據引入 Workday 資料中心後會發生什麼。

There's a lot interest in it, and [candidly] I'd like to see what happens when we bring it into the data center.

人們對它很感興趣，並且[坦率地]我想看看當我們將它引入資料中心時會發生什麼。

We've also got some really important product announcements coming in in November around big data.

我們也在 11 月發布了一些圍繞大數據的非常重要的產品公告。

With respect to Financials and recruiting, they're both exciting products.

就財務和招聘而言，它們都是令人興奮的產品。

Financials is a suite.

財務是一套。

Recruiting is a module, that's an easy attach rate to -- or easy attach to HR.

招募是一個模組，可以輕鬆附加到人力資源部門。

So they're not really apples-to-apples comparisons.

所以它們並不是真正的同類比較。

When you look out three to five years, I would hope that Financials is on a new bookings basis on par with HR, if not bigger.

當你展望三到五年時，我希望財務部門在新的預訂基礎上與人力資源部門持平，甚至更大。

I'd say probably closer to five years out, given the momentum in HR.

考慮到人力資源部門的發展勢頭，我想說可能會接近五年。

From a revenue basis, given the subscription model, it's going to take a long time for Financials to catch up.

從收入基礎來看，考慮到訂閱模式，金融業需要很長時間才能趕上。

But on a new bookings basis I would hope down the road the Financials market is a much bigger market.

但在新的預訂基礎上，我希望金融市場未來會成為一個更大的市場。

Our history at PeopleSoft was that towards the tail end of the Company, Financials was a bigger business for PeopleSoft than HR, but not by a lot.

我們在 PeopleSoft 的歷史是，在公司後期，財務部門對 PeopleSoft 來說是比人力資源更大的業務，但差距不是很多。

Okay great and then one quick follow up on the Financials.

好的，很好，然後快速跟進財務狀況。

It sounds like you're scaling nicely with the product.

聽起來您的產品擴展得很好。

I'm curious if you look at -- what's the biggest pushback from customers today that's not scale.

我很好奇，如果你看看——當今客戶最大的阻力是什麼，除了規模之外。

What are some of the areas of inertia that you're seeing in terms of new deals?

您在新交易方面發現了哪些惰性領域？

I wouldn't say there's areas of pushback or inertia.

我不會說存在阻礙或慣性的領域。

With the CFO, it's a new buyer.

有了財務官，就成了新買家。

We've gotten the story and the message down in terms of selling to the CHRO.

我們已經了解了向 CHRO 銷售的故事和資訊。

The good news is that the CIO in many cases is already up to speed on Workday so they're comfortable with the technology.

好消息是，在許多情況下，CIO 已經掌握了 Workday 的最新情況，因此他們對這項技術感到滿意。

But it's showing a CFO, who's typically a conservative buyer, a new way of running their financial systems, not just a new technology platform.

但它向一位通常是保守買家的財務長展示了一種運行財務系統的新方式，而不僅僅是一個新技術平台。

And so we're getting better and better at selling to them and marketing to them.

因此，我們在向他們銷售和行銷方面做得越來越好。

And there are industry capabilities that many of them are waiting for in order to be able to swap out a PeopleSoft recipe Oracle.

他們中的許多人都在等待行業能力，以便能夠更換 PeopleSoft 配方 Oracle。

This past update we included average daily balance, which was an important feature for Financial Services.

過去的更新包括平均每日餘額，這是金融服務的一個重要功能。

We're rolling out professional services automation.

我們正在推出專業服務自動化。

We've made big investments in education and government functionality, like grants.

我們在教育和政府職能方面進行了大量投資，例如贈款。

So all of those matter in terms of being able to turn off a legacy system.

因此，所有這些對於能夠關閉遺留系統都很重要。

We have to have enough of a functional footprint to turn those off and those are the kinds of questions that come up.

我們必須有足夠的功能足跡來關閉這些功能，而這些就是出現的問題。

Okay, great.

好的，太好了。

Thanks, guys, and congrats.

謝謝你們，恭喜你們。

Your next question comes from the line of Shannon Cross with Cross Research.

您的下一個問題來自 Shannon Cross 和 Cross Research 的專線。

I wanted to look into the international business a bit deeper.

我想更深入研究國際業務。

Can you talk about how those customers are trending relative to what you saw in the US in terms of verticals or are they following the same trends in terms of adoption that you saw in the US?

您能否談談與您在美國看到的垂直行業相比，這些客戶的趨勢如何，或者他們在採用方面是否遵循您在美國看到的相同趨勢？

And then I had to follow up, thanks.

然後我必須跟進，謝謝。

It's very similar and the reason is that if you look at our success in the US, it's largely driven by large multinationals.

這非常相似，原因是如果你看看我們在美國的成功，它很大程度上是由大型跨國公司推動的。

And whether you're a large multinational based in the US or based in the UK or based in France, you largely have the same needs of information, the same needs around talent management, around accounting across the globe.

無論您是一家總部位於美國、英國還是法國的大型跨國公司，您在全球範圍內對資訊、人才管理、會計的需求基本上都是相同的。

So the same solution that worked for Flextronics, which by the way most of their population in China happened to work well for Lenovo, the same group that works well for Johnson & Johnson in the US, so same solution works well for Sanofi in France.

因此，適用於偉創力（Flextronics）的相同解決方案（順便說一句，偉創力的大部分人口在中國）恰好適用於聯想（Lenovo），同樣的解決方案也適用於美國的強生公司（Johnson & Johnson），同樣的解答也適用於法國的賽諾菲（Sanofi）。

And I think that's what we're seeing.

我認為這就是我們所看到的。

The next wave for us is actually addressing the middle market opportunity in Europe which beginning to rollout going into next year, but the large multinationals across the globe largely act in very similar ways.

我們的下一波浪潮實際上是解決歐洲的中間市場機會，該機會將於明年開始推出，但全球大型跨國公司的行為方式基本上非常相似。

Okay, great and then a follow up there.

好的，很好，然後跟進。

In terms of the investments you're making and you said you're targeting middle markets in international, but I think during the call the comment significant investments to come and continue to focus on investing in the business was a key comment.

就您正在進行的投資而言，您說您的目標是國際中間市場，但我認為在電話會議期間，重要的投資即將到來並繼續專注於投資業務是一個關鍵評論。

So how do we think about how you think about the hurdle rates for investment, where you put your dollars.

那我們如何看待你如何看待投資的門檻利率，以及你把錢放在哪裡。

Is this going to be more international versus US, more R&D versus SG&A?

與美國相比，這是否會更加國際化，與 SG&A 相比，研發會更頻繁嗎？

Any color you can give us on the continued investments.

您可以給我們任何關於持續投資的顏色。

You'll see a set of new product announcements in Rising in November.

您將在 11 月在 Rising 中看到一系列新產品公告。

That's probably all I can really talk about on the product side.

這可能就是我在產品方面真正能談論的全部。

I don't know if Mark wants to talk about anything on the SG&A side?

我不知道 Mark 是否想談 SG&A 方面的事情？

Yes, if you -- SG&A -- certainly with G&A we're building our internal platform to be a much larger Company.

是的，如果你——SG&A——當然是透過G&A，我們正在建立我們的內部平台，成為一家更大的公司。

And on the sales and marketing we are selling multiple products to different buyers in different geographies and we're going to continue to make investments, particularly internationally, and in selling Financials.

在銷售和行銷方面，我們正在向不同地區的不同買家銷售多種產品，我們將繼續進行投資，特別是國際投資和金融銷售。

Thank you.

謝謝。

Your final question comes from the line of Derrick Wood with Susquehanna.

你的最後一個問題來自德里克·伍德（Derrick Wood）與薩斯奎哈納（Susquehanna）的關係。

Couple questions on the CSC announcement, first sounds like you're selling to the 70,000 employees on the HCM side.

關於 CSC 公告的幾個問題，首先聽起來像是您正在向 HCM 方面的 70,000 名員工進行銷售。

Was that a deal that closed in Q2 or is that still for plan?

該交易是在第二季完成的還是仍在計劃中？

And then the second was can you share with us the amount of resources, maybe from a head count perspective, CSC plans to devote to the practice or maybe some time frame as to when they get up and running in terms of ramp to market?

第二個問題是，您能否與我們分享資源數量，也許從人員數量的角度來看，CSC 計劃致力於這種實踐，或者可能需要一些時間框架來說明它們何時啟動並運行到市場上？

They have signed as a customer, I don't know which quarter it happened in.

他們已經作為客戶簽約了，我不知道發生在哪個季度。

In terms of the size of their footprint, I think that's best coming from them.

就他們足跡的大小而言，我認為最好來自他們。

They're -- they've got pretty aggressive plans about creating a Workday practice but I'd defer to them and let them talk about it so I don't get it wrong.

他們對於創建工作日實踐有非常積極的計劃，但我會尊重他們並讓他們談論它，這樣我就不會出錯。

And CSC was a Q1 deal.

CSC 是第一季的交易。

Yes, Q1 deal.

是的，第一季交易。

Okay and follow up on the renewal business, Mark.

好的，馬克，跟進續訂業務。

Any commentary on the duration or -- does the contract duration look much different from a new customer perspective?

對合約期限有什麼評論嗎？

Yes, it's somewhat customer by customer and again we don't have a lot of data points.

是的，這在某種程度上是根據客戶的情況而定的，而且我們沒有太多的數據點。

But we're tending to see the average be a couple of years as opposed to just over three on a new deal.

但我們傾向於認為新協議的平均期限是幾年，而不是三年多一點。

Great, okay, thank you.

太好了，好的，謝謝。

We thank you for your participation in today's earnings call.

我們感謝您參加今天的財報電話會議。

You may now disconnect and have a great day.

您現在可以斷開連接並度過愉快的一天。