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Q4 2021 Earnings Conference Call
spk_1: Ladies and gentlemen
spk_2: And welcome to the Copa South where fourth quarter of fiscal year 2021 earnings release conference call at this time. All participants, journalists and only mode.
spk_1: At the conclusion of
spk_2: our prepared remarks, we will conduct a question and answer session. If you would like to ask a question, you may press star one on your touchdown pad. At any time. If anyone should require assistance during the conference, please press the Star zero. I'm your touchdown pad at any time. As a reminder that this call is being recorded, I want to introduce your host for today's conference column. Mr steven Horowitz, VP of investor relations. Mr Horowitz. You may begin your conference. Thank you.
spk_1: Good afternoon. Welcome to Cooper Softwares. Fourth quarter conference calls joining me today are rob Bernstein, Cooper Ceo and Todd ford coupe A CFO remarks today include forward looking statements about guidance and future results of operations, strategies, market size products, competitive position and potential growth opportunities. Our actual results may be materially different. forward looking statements involved risks and uncertainties and assumptions that are described in our most recently filed 10-Q. These forward looking statements are based on our beliefs and assumptions today and we disclaim any obligation to update any forward looking statements. If this calls replayed after today. The information presented may not contain current or accurate information. We also present both gap and non GAAP financial measures, reconciliation of certain certain of these measures that included in today's earnings release, which you can find on our investor relations website. Replay of this call will also be available unless otherwise stated. Growth comparisons are against the same period of the prior year. One final note before we get started is that we will be conducting an analyst day on July 15 and we'll be doing so in a virtual setting. With that. I will now turn the call of a rob rob.
spk_0: All right, thanks Stephen. Hello everyone and thank you for joining us. It's amazing to think about where the world was a year ago Last year. On this exact date we held our year end earnings call for fiscal 2020. That same morning, our home state of California was announcing emergency shelter and place orders in response to the COVID pandemic. It's likely that none of us realized at that moment how much our world was about to change with employee safety At the top priority companies would be shuttering their offices and bracing for impact and there's a certain time called on all of us to do things differently with many of our customers needing to take swift actions to survive through it all. I'm proud to say that my cooper colleagues and I stood side by side with our customers. We sought ways to help them in any way possible. And thankfully, our expertise in businessman management proved useful in an adverse uncertain situation. Companies can often make the most important impact by controlling their spend that we help them. Many do so as the leader of Business and management Solutions. We were there to ensure our customers had the resiliency and the ability to endure the difficult times and to prevail despite them. We ourselves also took to heart the state of mind and wisdom we impacted to our customers as we planned our own growth strategy in the face of this wide scale global pandemic. Looking back on the past year, we carefully and thoughtfully scaled the organization by efficiently on boarding more than 1300 employees across all areas, including sales, marketing, product development and services simultaneously. We expanded the world's most comprehensive GSM platform by adding supply chain design and planning Treasury and by enhancing our supplier diversity and travel and expense offerings. We added many new customers to our growing Cooper community from mid market to large enterprise, including dozens of Fortune 500 companies. And we successfully shifted our software implementations to fully virtual while reducing deployment times by about a month. Once live, these customers contributed to a cumulative spend under management, which now exceeds $2.3 trillion. Inspired by the big lights of GSM, there's nothing we can do when we rally together around our core values, leveraging the breadth and depth of our core competencies and domain expertise and our focus on execution as a result of this work. And despite the tremendously difficult market environment, I'm delighted to share that. We delivered on our model of 30 plus percent annual revenue growth, continued thoughtful sales and marketing efficiency and castello leverage. I'm proud to share some of the successes we have achieved, both in terms of business accomplishments and financial results moving forward, we remain maniacally focused on delivering the world's preeminent value as a service platform for all of our customers. Now, as you know, a key component of value as a service is helping customers accrue more value more quickly. At cooper, we call it accelerated time to value, which is what the A and cooper stands for. The accelerated vision area was keenly on display in many of our goal lives this quarter here are several examples from around the world. BMWW