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we realized selling the platformization strategy, which we have been for the last 6 months, as we said, been trialing this out, we've been running this play with about 6 months discovering, when we go in with the platform approach, we win more often than if we go into the best-of-breed only.
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2024 Q2
24 Feb 24
we're averting a price war by driving a platformization approach
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2024 Q2
24 Feb 24
we don't have to keep fighting on individual breach individual best-of-breed deal every time we go to a customer
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2024 Q2
24 Feb 24
we're trying to seed ourselves into our customers' platform
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2024 Q2
24 Feb 24
We never had 400 Fortune 2000 customers dealing with us on incident response. We launched an offer in 90 days, we've got 400 customers. We gave them 250 hours free, right? That's 100,000 hours of breach consulting for free but that drives a future business for us where they become a cybersecurity partner of choice.
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2024 Q2
24 Feb 24
We decided to give it away free for the next 12 months until the customer's renewal comes up.
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2024 Q2
24 Feb 24
when we acquired [ Talend ], we made [ Talend ] free to every SASE customer
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2024 Q2
24 Feb 24
There is nothing going on in the demand side. It's just that we see this pushing out of the billings towards later parts as we get more and more consolidation offers and platform offers out there.
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2024 Q2
24 Feb 24
we are trying to shift our go-to-market towards a consolidation in play and a platform play
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2024 Q2
24 Feb 24
We have a higher win rate and consolidation plays as opposed to best-of-breed head ones
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2024 Q2
24 Feb 24
we'd like to go from best-of-breed competitive behavior with legacy vendors or New Year vendors and go straight to platform competitio
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2024 Q2
24 Feb 24
Our platformization offers to drive consolidation effectively provide customers a period of the contract for free as part of their commitment.
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2024 Q2
24 Feb 24
We expect this will persist through fiscal year '25 as we anniversary the rollout of these programs and result in billings below the target we provided in August of 2023.
Beyond this period, we expect we can sustain higher growth than we provided in these targets in August.
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2024 Q2
24 Feb 24
We expect we may see a period of 12 to 18 months of pressure on our top line growth rate, notably billings.
Some of our platformization programs embed deferred payments into deal structures
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2024 Q2
24 Feb 24
We believe that by moving from a deal-by-deal approach to a program-based and systematic approach, we can accelerate platformization with our customer base and drive then the consolidation faster by mitigating platformization friction.
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2024 Q2
24 Feb 24
short-term impacts
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2024 Q2
24 Feb 24
the changes we are making today are going to give us better prospects in the mid- to long term and allow us to drive this consolidation much faster
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2024 Q2
24 Feb 24
we're in the best position to capitalize on this early trend and now focus on the next phase of cybersecurity, which is going to be all about consolidation
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2024 Q2
24 Feb 24
We have established our platformization notion
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2024 Q2
24 Feb 24
We have plans to offer 3 new product offerings, 1 to address each of the [indiscernible] I talked about.
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2024 Q2
24 Feb 24