Atlassian Corporation (NASDAQ:TEAM) Q2 2023 Earnings Call Transcript

It simplifies their offering is one of our goals with the cloud right. We do all the hard yards so they can just focus on their businesses. Cameron?

Cameron Deatsch: Yeah. And in addition to all of the R&D investments we have made to better serve our enterprise customers, I am extremely happy and proud of what we consider our enterprise transformation on the go-to-market side of our business. We have invested heavily to get closer to our largest customers and help them through this strategic transformation to the cloud, while maintaining some of the most efficient sales and marketing spend that you see in the industry and that’s the balancing act that we have had over the last couple of years. But do you think we have had much more enterprise account managers to take care of our customers. We invested in technical account managers and solution architects to have more strategic conversations about the road map with our products longer term.

We have things like executive advisory boards and deep dives and CIO counsel. This has actually allowed us to have strategic relationships with our customers and think much more long-term about how our products will be used in the future in their businesses. You also mentioned you saw this in our channel with our partners that we have seen significant outside investment, as well as consolidation in our massive solution partner network. While we have over 700 solution partners, we see many of these customers or many of these partners starting to consolidate. I see this as a massive advantage for our customers as these companies provide more scale and more optionality for our customers and once again deliver more value, but also good for our ecosystem.

Like any additional investment in our ecosystem will only drive higher, better outcomes for our business and for our customers. And lastly, on the multiyear piece, it’s simply the nature of larger, more strategic deals. If we are going to go into one of the largest banks in the world or a large pharmaceutical or telecommunications firms, we are having a conversation with the CIO about a transformation to the cloud or enabling IT service management or work manager for their organizations. They are going to want a longer term commitment and that’s where you see these multiyear contracts increasing in the enterprise.

Ari Terjanian: Thanks.

Operator: Thank you. That’s all the questions we have time for today. I will now turn the call over to Scott for closing remarks.

Scott Farquhar: Thanks everyone for joining our call today. As always, we appreciate your thoughts or questions and your continued support. And thank you to all the Atlassian all over the world for your dedication and resiliency. We hope that you are able to join us next week, either in person in Berlin or virtually at our Agile and DevOps event, Unleash.