Operator: Our next question today is from the line of Gabriela Borges of Goldman Sachs. Please go ahead. Your line is open.
Gabriela Borges: Thank you, Sandeep and Jim, over the course of the last several months, you’ve announced a handful of high profile leaders, particularly in your go-to-market functions. I’d love to hear the feedback that these leaders are giving you as they get in the weeds and as they talk to customers. And in particular, are there a couple of initiatives where you’ve got some of the leadership team coming back and saying, we should be doing ABC to really jumpstart the next phase of our growth?
Jim Cox: Sorry, you broke up a little with Gabriela. So, Sandeep, I think she said new sales leaders, new high profile leaders. What’s the early feedback? What’s the early, what are the observations?
Sandeep Sahai: Yes. Thank you, Gabriela. I think there is no question that the first order of business is to continue the growth in North America. So we were quite excited to say, look, North America this quarter, you’re on a year basis grew at 20%. So we feel good about that. Now the question is, where else do we see progress? So Europe is really, really interesting because of the immediate applicability of what our platform can do and the proof points we have already sort of produced and sort of announced. So we feel Europe is priority one, if you will. Asia also is a really high priority, especially with a really strong leader we brought in last quarter. So we feel like those two priorities are really are going to drive growth for us for a period of time.
So those are the two now, in terms of what products or what areas customers are most concerned about, alternative assets. So we talked about LPx for that. Comprehensive reporting for clients, we talked about Prism. Lots and lots of discussions about risk performance and attribution. So the wheelchair should help with that. Obviously the OMS, PMS, and so JUMP functionality. So just top of mind, we think about North America, then we think about Europe, we think about Asia, think about LPx, Prism, risk and performance, and finally job. So if you were to ask me what are the biggest ones you worry about, those are the 6, I sort of think about or what we can do to drive growth from there.
Gabriela Borges: Got it. Thank you. And Jim, as a follow-up, you mentioned the about 25% of total booking statistic related to cross-line issues. Could you just clarify for us how you’re calculating that and what products are in that? And I know you said you’re not going to give it to us since it’s a waste, so I’ll take the opportunity to ask what has it been historically or give us some kind of grounding in history so we can understand the measure of success that you’re reporting? Thank you.
Jim Cox: Yeah, no, good call out, Gabriela, and that’s very fair. So why would we crow about 25%? It’s because it’s been about 10% if you look back. And what are those solutions? It’s LPx, it’s the same that he just identified. LPx, Prism, JUMP, Portfolio Management, Middle Office, those, et cetera, et cetera. Sorry, yes.
Sandeep Sahai: It’s a little, Gabriela, it is a little bit earlier than we thought. As Jim said, just because you sell something doesn’t mean it shows up in ARR right away. But yes, we are, that’s how we use the term sort of booking to sort of show that we’re making progress. But yes, it’s just that with innovation, it’s always chopping. We’re obviously happy about where we are, but, we’re also worried about people drawing a straight line. So it’s not, there’s no reason to be cautious. It’s just we feel it’s the right way to make sure investors know that.
Gabriela Borges: Excellent, congratulations on the quarter. Thank you.
Sandeep Sahai: Thank you.
Operator: Our next question today is from the line of Yun Kim of Loop Capital. Please go ahead. Your line is open..
Yun Kim: Thank you. First, congrats on a strong execution. Sandeep, last year was marked by the influx of alternative assets. I believe that you mentioned that 40% of new AUM was, came from that, from the alternative assets. Do you see that trend continuing this year? And is that also driving the trend this year? And is that also driving the multi-product adoption?
Sandeep Sahai: Yes. Thank you so much for that question. So I don’t have a percent for you, but I do know that in the sales process, almost the first things client talk about is the difficulty in managing alternative assets. So a lot of our sales are, some of the discussions about how do I merge alternative asset reporting with public securities and give a comprehensive view. So I still think it’s really, really important for our business. And if you look at it, one of the first products we always talk about is LPx, which are limited partnerships. And how do you process them more effectively? So I, look, we continue to believe that that is a really important one. And then Prism, what it does is it brings public, private, all of it together and gives you one comprehensive view. So we continue to see a really big impact from the growth of alternative assets among our clients. I just don’t have a percent of how much it grew in the last quarter. And we can get you that.
Yun Kim: Okay, great. Because I think the word alternative assets were not mentioned as much this time around, but just last year, that’s why that I ask. If you can also talk about the mix between asset managers and insurance companies, is that mixed feeling towards one or the other? And is that changing your go-to-market motion at all?
