And so that’s — that was a very, very exciting win for us. The other one that I would call out is one of the deals that, we won it and lost it and won it and lost it, it lasted over two years, and we went through all the processes that you could possibly go through to make sure that they — that we were the absolute right choice. This was a specialty lines in commercial insurance solution that we were able to step up and prove that we were the right choice for this company. And we were just incredibly excited to get this win and get this deal closed, and I think it will end up being a very significant and strategic partner for us, especially because it’s going to be a proof point for us on commercial lines insurance in the specialty markets that we’re going to be able to support for this partner, or for this customer, excuse me.
So that was the other one that I would call out that we were just very, very excited to get over the finish line this quarter.
Parker Lane: Got it. Very helpful. And then, Mike, we’re pretty far along in the alphabet here of releases and you accelerated the time line of launches last year. Are you seeing a notable pickup in how quickly customers are coming back to the well to discuss expansion opportunities? And how, I guess, how would you compare that to the early days of the cloud launch?
Mike Rosenbaum: Well, so two parts to the answer. I would say we are working very hard to earn the trust of our cloud customers and prove that we can very effectively support them as we provide these updates. And so I don’t know if you, guys, can understand this is like they were a little nervous when we first said, hey, we’re going to go to three releases a year, and we’re going to orient the releases such that you can take them every time. Just because their experience with upgrades in the past was pretty significant, like it was going to take a lot of time and they had to pause a lot of the projects in order to be able to absorb those upgrades. But what we’ve shown and what we are working through and proving with them is that we can do these updates very, very early and with very minimal disruption to their operations, and that enables them to get the benefits of what we’re putting in each one of these releases.
And that’s just a super positive sign is that this is working for us. It was always part of the plan, but it’s now a reality and they are — we are earning their trust and they are starting to really get excited about what they’re going to be able to do with this new operating model that we can support. And so that’s one of the — that’s just — it’s a good achievement for our organization. And honestly, I think for the industry, this is a different way to operate a core system in the industry. And I think it’s over the next decade, it’s really going to prove to be in favor for every single one of our customers is that we’re going to be able to make change. We’re going to be able to add innovation. We’re going to be able to deliver it to them in a time frame that makes a difference versus what they were going to be able to do before.
And in terms of whether or not this all creates more demand, more expansion opportunity, I would say probably like generally, yes. I don’t know if I could point anything specific. But certainly, velocity around these projects create success. The velocity creates success and the success creates the opportunity for us to add the next line of business and do a deal that expands the scope of the program. And certainly, we have some implementations that are going that way and going very well, and we continue to add to them. So generally, yes, but mostly, I would say the big news is that we’re able to establish ourselves in the great cadence in a very positive way.
Parker Lane: Got it. Makes sense. Appreciate the feedback. Thanks.
Mike Rosenbaum: Yeah. Thanks for the questions.
Operator: Thank you. Our next question comes from the line of Joe Vruwink with Baird. Please proceed with your question.
Joseph Vruwink: Great. Thanks for taking the question. I know you’ve addressed the macro a couple of times, and this is a bit of a macro question. But in the last couple of years, it’s been the spring into summer time frame where customers have ended up deploying their IT budgets and a little bit of a different way than maybe you were thinking. I think one year was smaller initial contracts, another year, it was maybe the pace and timing around just ACV. As we sit here today, are you just not seeing any of the same maybe preemptive patterns that would suggest something similar is on the horizon and ultimately, when you see where DWP is being located in the IT budget, you really participate in those areas?
Mike Rosenbaum: Yeah. I would — you certainly can’t count your chickens before they hatch and you have to execute, and we have to continue to stay vigilant and follow through on the potential that we see in our pipeline and our plans. But we don’t see in the deals that we’re working on right now, anything like you’re describing right now. We’ve — I think we’ve learned a lot over the past few years about how to structure deals, what to expect in terms of timing and the things that we need to do to validate, the demand and to ensure that we win the process and then get the deal successfully contracted, and we’ve gotten better and better and better than that across the organization. More and more of the organization has successfully prosecuted cloud deals, and that’s certainly helpful.
