Answered produced feed
D 5 · C 5 · P 5 · Cm 4 4.85
Q So just to be clear, there's nothing, uh, there's just one kind of flat annual contract fee for both the companies using you and the suppliers, those companies pay or just the companies?
A So, I mean, in this industry, there's for many years been this idea that the supplier should pay for it, but it doesn't really make any sense. The suppliers are trying to get online. The suppliers are trying to do business. The buyers are the one that really get the large scale economics and benefits. So We flipped the whole model on the head and said, look, we will charge a flat rate fee for large customers. We'll make it free for suppliers. Um, charging for suppliers would be a little bit like, uh, if Mark Zuckerberg, he charged you to upload your vacation pictures on Facebook. Um, you want as many suppliers as possible on your platform. You want to make sure there's critical mass. Um, so we built that.
AI assessment note: “we will charge a flat rate fee for large customers. We'll make it free”
Answered produced feed
D 5 · C 5 · P 5 · Cm 4 4.85
Q Now, if you have a, I'm curious, you have a flat fee like that. How do you drive expansion revenue? If you keep that flea fat, that fee flat.
A Um, yeah, try to say that three times in a row. No, I mean, the way we, we expand this, um, is in two ways, right? So typically our customers, they start with one or two processes. Um, so they might go and say, Oh, we want to connect to our suppliers so we can get the master data. And we can run our procurement process with them. Um, so that's the starting point, but then they figure out, Hey, we also want to do corporate social responsibility. We might want to do working capital. Then we have apps on the platform, just like force.com or even your iPhone as a consumer. And those apps are essentially expansion points. And the reason that makes a ton of sense is for enterprise customer, the most expensive part is actually not the software. It's the change management. It's the what management change management, having to go out and Tell your suppliers, tens of thousands of suppliers to do something different. So if you're already connected to suppliers on our platform, you can just push it as a new app instead of having to go run a whole new process. Um, so that's our expansion point.
AI assessment note: “the way we, we expand this, um, is in two ways”
