Hi, I'm Paul Melchiorre, the Chief Revenue Officer at Anaplan. We are a global provider of planning analytic software to some of the world's largest companies. We have something we connected planning here at Anaplan, and that's what our customers are looking to implement, not looking at silos, whether it just be procurement or marketing or other expense categories. If you think about looking at data across an enterprise, true enterprise planning, a lot of the legacy ERP systems really didn't deliver that.
What Anaplan is doing is having the ability to go into, databases for our large customers we're working with and look at commodity pricing, where things should be manufactured, where they will need to be purchased, and currency conversion rates. What happens today is the legacy systems may have the transactional data, but they don't have the planning capability. I think combining tools like Scout, that give us a lot of data, with the planning functionality of Anaplan, chief procurement officer's going to better decide where, when and how they want to procure a commodity item or certain fluctuations in currency can really have a big impact on the bottom line.
When we implemented Scout, it was really important that we were able to get benefit very quickly. Unlike some of the legacy provided systems that take a long time to implement, they have lots of features and functions of which many never actually get implemented. We were able to put Scout in very quickly, get immediate benefit. And as companies now are not just including looking at the revenue side of the equation, but the expense side as well. Gives us clarity into where we're spending our money, who we're spending our money with.
I think when people look today, if they're not becoming as efficient as they could be, there's big efforts around zero-based budgeting, for example, in a lot of the CPG companies. Why is that? They need to control their costs, spend, and this is not something that's a new concept as far as cost controls. I think a lot of the former efforts and initiatives around controlling costs have been more one time and not sustainable. The beauty of tools like Scout allow you to do the savings, but continue and have sustainable savings over time. That, I think, is the big difference.