MDSO
#Yes, I can give you a range.
It's all over the board.
We've seen some large customer renewals that are up 50% because they bought more solution, and they are driving more adoption.
Maybe the average is double-digit across all more significant size renewals we have, but it really is all over the board.
I think that the pricing environment has been pretty stable, and obviously, the big factor for us, is the fact that we are selling more solutions into our customer base, and some of those solutions are quite unique.
And so, there isn't a competitive factor involved.
It's more around our ability to sell the value of those, and we are starting to do that better
I think going back to one of the previous questions, that is a piece of what I think is changing from a go-to-market perspective.
It has to do with how <UNK> Pinto and <UNK> <UNK> have organized their groups, and are connecting them in that go-to-market strategy.
But it's not just the renewal that's the opportunity, it's finding these places that we can bring new efficiency, and whether it's at a renewal, or over the life of the contract, getting another piece of the platform to a customer, that's part of what we have been evolving.
Thanks.
Yes.
Okay, so first of all data sharing is a really good idea.
I will go on the record saying that.
Data sharing is also non-trivial.
You have to do it in ways that first of all are responsible, but you have to do it in ways that are actually scientifically relevant.
So I actually see ---+ again, the more moonshots people are talking about in the world, the better.
It brings to light things to debate.
It gives people the opportunity who have the right ---+ I would say have the right opinions, to talk about them, and convince everybody that this should be done.
TransCelerate again has been great driver of our industry, talking about sharing data in pre-competitive ways, and new and interesting ways.
But then, making the rubber meet the road, is where Medidata comes in.
Right.
So we are ---+ and <UNK> talked about it at the financial and Analyst Day.
We are looking across the board at all the stuff that our clients are doing, and figuring out how we can make data sharing happen in that responsible, scientifically productive way.
It's part of what's fueling that analytics pipeline that you hear us so excited about.
Does that make sense.
Actually, it's pretty interesting.
If you look at our client base, this is another example of where, over the years you've heard us talking about elevating our conversations to higher and higher level of executives.
People who are responsible for an individual clinical trial, someone even might come into Medidata as a study by study customer as <UNK> was talking about, is probably interested in getting that clinical trial done.
But when you start to spend time with the chief medical officer, and with the head of R&D, with the chief information officer who has been tasked with figuring out how to share data, that's when our capabilities become a really interesting part of the conversation.
And that's the kind of thing that's been driving some of these enterprise commits at the higher executive level.
And I just want to add one thing to what <UNK> had to say, which is we were asked a question earlier, about our ---+ what the future of Medidata looks like.
And I think if you look at the core of our business, we provide that infrastructure that allows people to come, to run their business, and do it more efficiently.
But on top of that, we are becoming an information business to those customers as well.
And I think that has broad implications, whether you're sharing information, or you're using information to make better decisions, I think that's a big part of our business.
And I would argue that Medidata is very uniquely positioned to do that, and be successful.
In fact, there's nobody else in the industry who can do it at our scale, or who has the lead that we have, and the momentum that we have, and the data that we have.
So there are some major fundamental shifts that are happening in the industry, as our customer base looks at information in a very different way than they have historically.
No, so a booking is the total value.
Right.
And then, you have concepts like annual contract value, which would encompass what the first year is.
And then you have average annual contract value which tells you what the contribution would be on average over a number of years.
I think you saw that, because it's in our adjusted backlog number.
The adjusted backlog grew 19% year-over-year, which is lower than the bookings growth, or annual contract value growth.
So it's having a much smaller impact in year one, but we are building a lot ---+ the way you can think about it is, we just refill the gas tank with a lot more gas.
And as we add gas each quarter this year, we are filling the tank up for the future for 2017 and 2018.
Good morning, <UNK>.
We don't actually break that out.
It's in the adjusted backlog, to the extent that they have an impact on 2016.
It's already in those numbers, but we don't actually break out the individual contracts.
<UNK>, we don't typically track that.
I would say that the average duration has probably moved up a little bit, but it isn't a material change.
Because we periodically ---+ we do sign large deals, and they do have large duration.
I would ---+ so just as a historical ---+ as a piece of history basically, there was a period of time where our average duration was extremely long.
And that was in the period before cloud and SaaS were as popular as they are today.
But as you know, most SaaS contracts tend to be short in duration, with renewals.
So maybe it's a year or two years.
Larger commitments tend to extend longer, and it's really because customers need a lot of time to ramp up onto the solutions, and they want to make sure that they have a commitment in place that allows them to do that.
But I just wouldn't ---+ I would say that it hasn't materially changed.
It's gone up a little bit.
Yes.
And maybe just one thought to add to this is, we have also [worked] as a company from---+ if you look at the segmentation of customers we have, and that obviously drives also a change.
As <UNK> was saying, as you get more and more enterprise type customers, you convert more to enterprise type agreements, that is where you have tend to have more longer termed contracts.
And so, there is a segment and composition of various customers that you would have to look at.
Yes.
And then I just want to make sure ---+ and it opens it up to another point, I would like to make, which is, one thing that I was really good about 2015, is that sort of the distribution, the risk distribution among our new contracts and clients was pretty evenly distributed.
So we weren't overly leveraged to large contracts, and we are not overly leveraged to the mid market.
We are actually seeing healthy growth across the board.
And as someone who is running the Company, that makes me a lot more comfortable, because we don't have risk in one area or another.
Thank you.
I want to thank you all for joining us on today's call.
Obviously, you can tell we're really excited about the coming year.
We are looking forward to talking to you throughout the year, and on our first quarter call.
And this is just a quick, special shout out to Cory Douglas who I know is listening to this call.
Thank you.
