UiPath Inc. (NYSE:PATH) Q3 2023 Earnings Call Transcript

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Rob Enslin: Yeah. I would say, it’s too early to go to give you a broad customer feedback on that. We launched one that’s on the marketplace. One of our customers is utilizing Bank of New York Mellon is basically going to utilize the solution package to accelerate their journey. And then — and I don’t have — and then we have another four packages, which actually are either launched or will be launched this month, so it’s continue. But it’s certainly helping our sales organization position and it’s certainly helping the customers understand that the solution accelerators can help their speed in terms of implementation, getting started quickly and moving faster for them. So we feel really good about it and — but just too early to tell you the full feedback yet. I mean, we are excited to be quite honest. We are super excited internally about it and if I could get 100 out tomorrow, I would.

Fred Havemeyer: Okay. Thank you. I mean I am excited and looking forward to seeing what’s going to happen there. I also wanted to ask about the partnership with OutSystems as well, because there seems like a very natural alignment between what you are driving is an automation platform and what low/no-code companies are doing for their own like enterprise application development acceleration cycles. But can you perhaps expand upon a bit of that partnership there and what it is that you can perhaps accomplish with an enterprise application platform as a partner?

Daniel Dines: I think there are natural synergies between a low-code/no-code application platform and low-code/no-code automation platform like we have. We have built our platform with a very open mindset. So we have our own apps platform that our automation centric and I wanted to offer our customers the ability to build even more complex, like, what we call Tier 1 type of applications. With OutSystem, you can even build custom CRMs or healthcare, medical or ERP type of application and they are tied very well into our automation platform. So we offer, I think, really end-to-end way of imagining new businesses, as Rob said very well.

Operator: Thank you. And our next question comes from Michael Turits with KeyBanc. Please state your question.

Michael Turits: Hey, guys. Just one question for Rob. Rob, where are we in terms of the focus on selling more to the end user versus selling to IT. And to the extent that maybe in the past, it was more selling to the end user, has that created any issue with shelfware or licenses that are being in the hands of end users that now there’s perhaps more of a focus on the IT department?

Rob Enslin: Yeah. Michael, this is what I would say, if you look at our focus in bringing our solution packages, platform pricing, and as Ashim just mentioned, when we talk to a CFO, we are talking about the full end-to-end spectrum of how we help them in their business. So when I look at the concept of shelfware, for me, that’s something that we have — we focus on, and you will see changes to compensation plans coming in next year that will actually help move that needle and ensure that we actually customers get time to revenue really quickly and that’s the focus. I mean, that’s the focus on the Global 2000 to ensure that the time to revenue is moving at a much faster rate and the whole organization is behind that.

Michael Turits: Okay. That’s it for me and congrats on a very stable and solid quarter.

Rob Enslin: Great. Well, everyone, thank you for joining us today. I would like to wish everyone a happy and healthy holiday season here in New York, where it feels like a holiday season in the streets, the lights are out bright and we feel really good about it and we look forward to seeing many of you in the coming weeks. So happy and healthy holiday season to you and your family.

Operator: Thank you. And with that, we conclude today’s conference. All parties may disconnect. Have a great evening.

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