Link. Nice business discussion: “To make my model, I started with bookings for the perpetual company and hard coded $5M in the first year on a reasonable ramp.  Then I made a set of reasonable assumptions (for a hot startup) that drove the rest of the model:  100% license bookings growth, a 20% maintenance rate, a 90% maintenance renewal rate, a 50% rate of professional services organization (PSO) services bookings relative to license, and a bookings-to-revenue conversion rate of 85% for PSO in the subsequent quarter”