Unidentified Analyst: Great. Thank you for that. And then just one more. Is there any color that you could provide on the customer interest you’re seeing so far in both Privitar and Clear GPT and Private Preview. And has that interest tracking against your internal expectations?
Amit Walia: Very good. So Privitar by the way like I said, in fact Gen AI be even more of a use case for it. And data our customers that they want to democratize data and they leverage like our governance and our data marketplace capabilities or even when they want to take MDM [ph] and operationalize that and democratize it to a bunch of users they needed access management. You can’t have any data going to anybody you cannot have the Wild West. So data access management, which you basically think it what to say in the data stack it’s the identity and access management use case over here. It’s not the same but I’m just kind of driving an analogy. Very important and especially for the large customers, the regulated industries, it is significantly important.
So we saw that and hence we accelerated our road map by buying Privitar. Pretty excited about it. I think I’ve met a bunch of customers who have all been very complementary of what we have and I – as I said, our goal has been to get that on the IDMC platform so it can be the cloud data service with IPOs and I expect that to obviously naturally be scaling from there and be attached to those use cases first. In terms of CLAIRE GPT, look, I think hopefully, everybody first of all know that we launched CLAIRE in 2018. We’ve been driving a lot of AI workloads AI productivity within our products, embedded in our products for the last many years. We have taken the chat interface and put it on top of IBM through CLAIRE GPT, CLAIRE co-pilot is already GA.
We put it in hands of our customers, private preview give us feedback, play with it. By the way, our customers including our partners also, the GSI partners, their practices are giving us feedback on that one. It’s a very good early reception. We are also learning from customers where they get productivity, where they want to take it. We get tons of future requests and all that stuff. So we are loving it right now. Expect to hear more from us and that will be one of those things as we come towards Informatica world next year is going to have a lion’s share of attention at the conference.
Unidentified Analyst: Great. Thank you so much.
Amit Walia: Absolutely.
Operator: We now turn to Patrick Colville with Scotiabank. Your line is open.
Patrick Colville: Hey, Amit, Michael, Victoria. Good to hear from you guys. So I mean when I look at numbers, cloud ARR growth has barely decelerated at all. It’s been incredibly impressive what you guys have done, especially in the face of kind of tight IT budgets and public cloud vendors, their growth momentum is slowing. So I guess, if IT spending is better next year than it was this year and AI momentum continues. I mean is there a world where we could expect Informatica’s cloud ARR growth to like reaccelerate?
Amit Walia: Patrick, great question. Look, you know what, I will just replay that back to my exec team also. That’s what I keep telling them. I want more. So we all want that of course, right? I think — look in all fairness right now we have been we’re looking at — we’ve been very resilient for a reason, right? And I’ve always said that we focus on critical workloads mission-critical workloads for enterprise customers. Hence we will never go belly up or be down. So that has served us very well the resilient customers. And we care — I keep repeating customer sat it matters a lot for enterprise customers. You don’t just throw a product over there and then lend 1,000s plus bloom and then the world blows up you’re not there. We don’t do that.
So innovation and customer centricity is the reason I repeat those all the time because it matters to those customers. Well, we come to Investor Day and share a lot about next year, so I can do that right now. But we always weigh everything on the positive side of the ledger and all the things that can be on negative side of the later and think through it. But Investor Day will give you a lot more color about next year and medium term as well.
Patrick Colville : Okay. And then I guess just one more on the restructuring. Are there specific areas that you can share that were impacted? I mean, is it more — is it kind of deemphasizing for example a self-managed domain within Informatica both in terms of go-to-market and product development and emphasizing cloud? Or is there any kind of way you can double-click is the — which areas are being I guess deemphasize? And then as a result maybe which shares are being more emphasized?
Amit Walia : So all of the above Patrick all of the above including things like that look — for me this has been — as you think about the company and if — and I almost thought about it if you were a cloud-only company has started today at this case what would you be? So we also looked at that as to where do we simplify our organization structures, because I firmly believe in certain areas we basically were probably not as nimble and as fast paced as I would like it to be. So we looked at those things we are the right investments. Where are the investment that we don’t really need? And where can we also accelerate decision-making execution. I said that a couple of times even internally to my own teams if we were I’ll give you an example if there are five people or 10 people to make a decision on a deal we need slows down from a customer point of view.
So all of those things we looked at end-to-end and came to these decisions. Difficult decisions that we just announced today.
Patrick Colville: All right. Thank you so much for taking my questions.
Operator: Our next question comes from Jayden Patel [ph] with [indiscernible]. Your line is open.
Unidentified Analyst: Hey, guys. Thanks for taking the question. My question is are you starting to see higher expansion rates among IP-based customers? And what should we expect looking forward?
Amit Walia : Thanks. So the answer to that is yes. We obviously we’ve talked about IPOs quite a bit and we care a lot about IP adoption, IP expansion, all of those things. We definitely have a team that focuses on IP expansion and I think that team has done an incredible job and we saw pretty good IP expansion. So that happened, of course, which obviously naturally flows into NRR that we shared. So yes, the answer to that is, yes. And we both focus on IPO adoption and expansion and both of them are maniacal focuses and the expansion part has worked out well and we’ll continue to be heavily invested in that. And by the way one of the things that I might add I think I keep reminding you that our NRR we stated one way. I think we are by definition a bit of a conservative company I guess. But if looked at the other way that other companies also report it would be coming to at 124?
