“And SaaS help us to innovate faster and support our customers more easily, which we expect to benefit our margin profile as we scale.”

In context

“our SaaS offering. First, we expect SaaS will result in a shorter sales cycle, risk assessments, the core of our go-to-market motion are expected to be quicker and easier to deploy because customer infrastructure requirements are greatly reduced. Along this, our updated product packaging should help simplify the pricing discussion, which we also think will result in shorter sales cycles. Second, our new customer launch be largely driven by platform selling approach and a 25% to 30% pricing uplift, which is justified by the product's lower total cost of ownership as compared to our on-premise subscription offering. We expect that quicker time to value and improved customer satisfaction will lead to greater customer lifetime value and even better renewal rates in these larger initiatives. And SaaS help us to innovate faster and support our customers more easily, which we expect to benefit our margin profile as we scale. It is still very early in the transition, but we are beginning to see initial proof of this benefit. Before I turn the call to Guy, I want to briefly discuss the capital of key customer wins from Q4 with illustration. A global packaging company over 4,000 employees became a Varonis customer this quarter. This organization wanted to improve its ability to detect and respond to threats on sensitive data and intellectual property and comply with GDPR and CCPA privacy requirements. This deal was originally an OPS deal that was switched to a SaaS deal during the fourth quarter because of infrastructure and resource cost savings we could realize. The purchase packages to protect Windows, Microsoft 365 and Active Directory and we're already in discussions to supplement the fretting capabilitie”