Gabriela Borges: The follow-up is for Paul. I believe last quarter, you talked about budget planning at your customers hitting full swing into the second half. So just looking for an update here, what are you hearing on commercial budgets into 2023 and willingness to invest? And specifically, the response to the pricing increases? Is there any negative impact on your ability to cross-sell because perhaps budget is fixed?
Paul Shawah : Yes. No significant change on the budget side. Our customers have gone through that timing process, and we haven’t really seen any pricing pressures. When you think about the industry, particularly in the large enterprise, they’re not — it’s not as susceptible to some of these macroeconomic changes, and we haven’t seen any change there. You had a second question, which was around the inflation increase that we’ve had. And by and large, we haven’t seen any — it really has been pretty seamless with our customers. And the reason is we built that have a long history of being a trusted partner. We haven’t historically had any license pricing increases. So our customers know this is a different environment. And by and large, it hasn’t been an issue.
Operator: Your next question comes from the line of Joe Vruwink with Baird.
Joe Vruwink: Just staying on the CRM conversation. In the past, I think you’ve acknowledged that typically customer conversations are separate and distinct between commercial and R&D orgs. Yet the shareholder letter made some comments about how a common platform for both now makes sense. So I’m wondering, are customers approaching you differently, thinking about procurement differently or is Veeva seeing new product opportunities that will benefit by uniting the two offerings?
Peter Gassner: So no change in customer behavior, Joe. And I would say, yes, primarily, our customers are concerned with the excellence of the application in their area. But as they get more Veeva applications and more Vault applications, they do look for synergies there, synergies in — they might create a Veeva Vault center of excellence, that type of thing for efficient operations. Or they may be auditing the Vault platform, and it’s easier just to audit on platform. So we see that there. And then the connectivity between the applications, between R&D and commercial, specifically, between clinical, medical and commercial, that’s something we do see opportunity there. And I think Veeva will help drive that. Some customers are asking for that. But I think mainly, we’re going to be leading the way there. And you really haven’t had great solutions for that connectivity, and I think we’ll bring innovation there and connectivity that will create the market there.
Joe Vruwink: Okay. That’s great. And then I have one question on the numbers and specifically just on 4Q billings, I think the outlook last quarter implied something like $927 million, and now the guidance is $909 million. Brent, is that just the deal timing that’s influencing the Vault — the new guidance. So we’re kind of looking at an annual impact and one number and the quarterly impact in the other?
Brent Bowman: Yes. I mean part of it, Joe, you’re right. There always is some quarterization. So that’s why we always say kind of look at it on a full year basis. Q3 benefited about $6 million. I just more annual billers that would have otherwise likely build in Q4. So that’s part of the equation. But it’s just a little bit of timing of renewals in those annual billers. So there’s nothing fundamental to the business. We’re very, very happy with the momentum, as Peter mentioned, around the clinical space in the EDC space. So really good business momentum and no underlying business concerns around the billings.
