Siti Panigrahi: Thank you and congrats on a great quarter. I want to dig into the application part of the business. Very impressive SaaS growth, especially in Fusion Apps and Cloud ERP in this macro environment. So, what are you hearing from your customer in terms of migrating to the SaaS application and what’s driving that? And also, the CloudWorld last year, you talked about the opportunity in combining horizontal application with vertical offering. So, how is that helping SaaS growth?
Safra Catz: Okay. Well, I will tell you that there’s no question. Our secret weapon is the fact that we have vertical applications also. Many of our customers end up wanting to buy a vertical application and Fusion together and it’s industry by industry. We will be posting online probably some of our wins for the quarter, but what you’ll see is when we have existing customers in a segment and a vertical application in that, we truly are, without a doubt, the most popular. Whether it’s healthcare with all of our existing customers, whether they be Cerner customers, the fact that we have ERP and HCM, SCM, all of our horizontal applications, CX, as well as the vertical applications, it makes us very tough to beat. New healthcare wins are going to be listed many, many, many go-lives, the same in financial services, retail, hospitality, these whole segments end up wanting to buy their entire solution from us.
And that really makes us also very sensitive to their needs and we can fill them much better. So, that’s been a big winner for us. And I will tell you that our customers also, when they move from on-premise, they realize that they’re moving into the 21st century with a much better system, but also a much lower cost system that also is kept current every 90 days. New capabilities become available. They’ll never have to do that big implementation every five years like some of the older companies who say they’re cloud, but aren’t actually cloud. They’re just hosted. So, our products are just so differentiated all around that we’re just building momentum around the world. Go ahead.
Larry Ellison: Let me just add one example to Safra’s comments, which I think are right on. But there’s an interesting example. Everyone knows we compete with Workday in HCM or HR, whatever. When we bought Cerner, we decided that we were going to take our HCM system, our HR system, and specialize it, add features specifically for the healthcare industry. Now, it turns out managing a workforce in a hospital is very complex because the nurses might have private patients at home that they’re seeing. They might work for two or three different hospitals. They might do some work in clinics as well. So, scheduling these people who have multiple jobs, doctors may have teaching assignments in universities. Obviously, they travel and they also have their own office hours.
They may have a private practice in addition to working at the hospital. Scheduling these professionals is very, very tricky. Recruiting the professionals is very, very tricky. Paying them when you’re working three days a week, one week, two days the next week, six days the following week, paying them can be very complex. So we have had a major effort in our HCM system, the Oracle Fusion HCM system, and adding all the features that hospitals need to manage their professional staff. Now, there’s no way, there’s no way we would have done that unless we had a focus in the healthcare industry. So we not only have all the Cerner healthcare apps for hospitals, we’ve specialized our ERP system for hospitals, we’ve specialized our HCM for managing the hospital workforce.
