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So, SpringCM has 600 customers and get rev of $30k/customer/year for a total rev of $20M/y

Docu has 450,000 customers and they derive about $1400/customer. How does Docu define a customer?

From their earnings
As of October 31, 2018 , we had over 450,000 customers, including over 50,000 enterprise and
commercial customers, as compared to over 350,000 customers and over 35,000 enterprise and commercial customers as of October 31, 2017 . We define a customer as a separate and distinct buying entity, such as a company, an educational or government institution, or a distinct business unit of a large company that has an active contract to access our platform. We define enterprise customers as companies generally included in the Global 2000. We generally define commercial customers to include both mid-market companies, which includes companies outside the Global 2000 that have greater than 250 employees, and small-to-medium sized businesses ("SMBs"), which are companies with between 10 and 249 employees, in each case excluding any enterprise customers. VSBs include companies with fewer than 10 employees. We refer to total customers as all enterprises, commercial businesses and VSBs.


If Docu is wildly successful how many of its current customers can start using the SpringCM SOA? Given that the per customer revenue ratio is about 20X my guess is Docu can get about 1/20th of its total customer base to start using SOA which comes to 20,000 customers which is about 40% of its enterprise and commercial customers. This can yield additional rev of about $600M/y or a doubling of its current revenue.

The key is for Docu to continue to grow their enterprise and commercial customers. This has grown 43% in the last Q yoy. Very nice.
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