Question-and-Answer Session
Operator
[Operator Instructions] Your first question comes from the line of Mohammed Moawalla with Goldman Sachs.
Mohammed Moawalla – Goldman Sachs
Yes good morning. John, can you elaborate a little bit around some of the weakness in the quarter and just indicate whether some of these deals that potentially moved were lost to competition or you're still hopeful about closing them at some point in the future?
John Schwarz - Chief Executive Officer
Yes. Hi Mohammed. Absolutely, we are very much expecting the deals that did not close in Q3 to in fact close in this quarter or the following quarter. So, now these are not losses. We as I commented previously experienced delays and deferrals, and we are very much tracking these deals in an ongoing fashion.
Mohammed Moawalla - Goldman Sachs
Okay. And then secondly, just I don't know you may not be able to comment on this fully, but as you look at obviously your combined portfolio with SAP, can you perhaps talk about where the real big opportunities lie for you, perhaps by the product segments within the portfolio in terms of where you expect to see the most significant potential acceleration? And then perhaps comment around the timing of that, is this likely to be more sort of 12 months out from now once you are sort of integrated or do you see these benefits kicking in fairly immediately once the merger takes place in Q1 next year?
John Schwarz - Chief Executive Officer
Well, there are some benefits that ought to be realized very quickly, Mohammed. First of all, obviously as we align our go-to market strength, we can begin to cover customers more effectively, we can begin to make the SAP customer more comfortable with the... both Business Objects solutions. We can begin to address the cross selling and up selling opportunities as we go to our respective segments in the marketplace. Secondly, in the mid-market, we both have... based on channels combined about 5000 different channel partners. I would expect that the opportunity to bundle some of our mid market and their mid market solutions make the overall solution more comprehensive is a very interesting place to start seeing some upside. I would expect that we can relatively quickly begin to integrate some of our technologies. We've talked about embedding some of our analytic solutions if you will in the SAP applications. We talked about the opportunity to adopt some of the SAP portfolio in our own portfolio to make our performance, management solution more compete, more comprehensive with the arrival of, for instance the GRC solution from SAP. Likewise on the EIM side, SAP has a solution for market... data management, which we very much need in our portfolio. So we will be adopting that component. And so it goes, we always are very early in the planning cycle for how these integrations will takes place. But I would expect that you will see an almost immediate pickup in opportunity, and it will grow overtime as we integrate and deliver more comprehensive offers.
I'd like to very much stress though that nothing we are going to do is going to be for SAP only. We are going to maintain our overall open heterogeneous nature, and we are going to sell the business intelligence suite across the entire marketplace including continue to sell on top of the Oracle platform.
Mohammed Moawalla – Goldman Sachs
Okay. And then maybe just finally, you obviously looked at both organic and [inaudible] growth as an independent entity. Given that within SAP you now function as essentially a separate division, will that... do you expect that strategy to change or do you feel that that combined portfolio you've would be sufficient in terms of at least addressing the significant opportunities ahead of you?
John Schwarz - Chief Executive Officer
Well, I will answer that in two ways. One is to say that the immediate combination [inaudible] some of the things that we would have to go acquire for ourselves. And so we have... if you are instantly adding into our portfolio, those things that would have been the next natural things for us to go by, so that helps. In the longer term, the innovation in the software industry is legend, or it is a legendary part of our business overall. And I would expect that some of the smaller BC funded organizations will continue to crop up that solve issues that customers need to solve and that we will be very much in the markets to acquire those type of organizations in the future.
Mohammed Moawalla – Goldman Sachs
Okay. That's great. Thank you very much.
John Schwarz - Chief Executive Officer
Okay.
Operator
Your next question comes from the line of Elizabeth Buckley with Arete Research.
Elizabeth Buckley – Arete Research
Yes, good morning, good afternoon. Could you give us just a sense of the constant currency growth trends by product line. You mentioned that reported licenses grew in every product line. Could you just give us a bit more detail on the constant currency growth trends that you saw for the different segments for BI, or IDD etcetera?
John Schwarz - Chief Executive Officer
Well, in general we're pretty well balanced between currencies. It is about 4%
across-the-board this year? this quarter on revenue from the conversion to US dollars from our 12 other currencies. So? and that is pretty well evenly split across the currencies because of the revenue from those product lines is relatively evenly split between the US dollars and non-US dollar revenue.
Elizabeth Buckley – Arete Research
I guess I was just trying to get a sense of the relative performance of IDD versus EIM over the quarter as I am trying to understand the shortfall?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
It is probably in the relatively in the mix that the products have traditionally held. Certainly our EIM and EPM products continue to be the fastest growing. As we commented in the call, all three on a reported basis did contribute to positive growth.
Elizabeth Buckley – Arete Research
And on a constant currency basis, which ones were negative?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
We actually didn't get into that level of detail on the call. As you know we have stopped giving the great detail product right now, we could say that IDD was lower of the three in terms of overall growth.
Elizabeth Buckley – Arete Research
Okay. Could you also give us a sense of the license contribution of the Cartesis and Inxight acquisitions over the quarter? Thank you.
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
It was about... the total revenue for the Cartesis plus Inxight was about $21 million, about $5 million of that from license.
Elizabeth Buckley – Arete Research
$5 million from licenses. Okay. All right. Thank you.
Operator
Your next question comes from the line of Frank Sparacino with First Analysis.
Frank Sparacino – First Analysis
Hi guys, just one question on Cartesis. It is fair to say that the Cartesis growth on a year-over-year basis was negative?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
Actually we didn't... obviously they weren't publicly reporting a year earlier, so that is a little bit hard to call. We also under normal purchase accounting would have lost all of the deferred maintenance from this first quarter. So the compare is really not quite fair. I don't actually know how to fairly answer that question.
Frank Sparacino - First Analysis
Okay. And then from a pipeline perspective, Jim...
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
Actually I do want to add one other thing just as a general comment so people are clear on that. Cartesis like many other companies in the financial EPM space has their strongest quarter in their Q2. That has been traditional and in fact their fiscal year end was June 30th year end. Their Q1 traditionally being weaker and that's really a trend in the industry that financial products are often purchased in Q2 that we installed in Q3 could be run for either the annual budgeting cycle or to be fully up functional and tested by quarter one. So they have a normal seasonal pattern of a higher Q2 and a lower Q3 last year as well as this year.
Frank Sparacino - First Analysis
All right.
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
I interrupted, because I wanted to give a full answer on your previous question.
Frank Sparacino - First Analysis
Thank you. And then just one last question for either one of you. I'm curious on the weakness in the financial services vertical on a global basis. I guess it is not a surprise that you would see that here in the US. But I guess a little bit surprised you would see it on a global basis. Just curious what the factors are internationally, is that the same here in the US? Thanks.
John Schwarz - Chief Executive Officer
It seems that the crisis did not stop in the US. The crisis that reverberated around the world starting here obviously with the subprime mortgage process problem. But in terms of the actual shared risk that fell out of that seems that have been fairly well represented in Europe as well as in North America. So, we saw it certainly in Europe and North America. I am not sure we could claim that we saw in Asia as dramatically as we saw it here. And obviously, we are hoping that given the relative return to normal trading if you will in the financial sector that we will see the financial sector comeback in the fourth quarter.
Operator
Okay. Your next question comes from the line of Michael Briest with UBS.
Michael Briest - UBS
Thank you. Good afternoon.
John Schwarz - Chief Executive Officer
Hello Michael.
Michael Briest - UBS
Hi John. Could you talk a little bit about how you see Cartesis [inaudible] together, whether within the weakness within the quarter Cartesis was particularly affected, because I imagine customers or potential customers would have been aware of the overlap there. And then also talking about business warehouse within SAP, that decided to crop up on your list of areas that you would be responsible for. Is that because you definitely want to say [inaudible] data warehouse level?
John Schwarz - Chief Executive Officer
Good questions. I think it's too early to give you a very clear answer. On the first one, we're regularly meeting and sorting these issues out. And so give us another couple of weeks before we can answer with some degree of precision on what will happen to the overlap on our planning side. On the business warehouse side, you're absolutely right. Business warehouse solutions remain part of the SAP portfolio. We'll obviously implement on top of it as we already do today, but not exclusively. We'll be working with other organizations' warehouses and use them as a vehicle for providing data into our business intelligence solutions.
Michael Briest - UBS
And then just one follow-up. In terms of the XI adoption levels, you have been giving that metric for the last few quarters where we are. Can you say where we got to in Q3 and where you think the spending cycle is?
John Schwarz - Chief Executive Officer
Yes, we're approaching 70% of the custom population, having begun the migration or in process into migration to XI, and about half that number are currently done, finished. So we're now at 30%, 35% completion range at this point in time.
Michael Briest - UBS
And I've just one follow-up with Jim really in terms of the Canadian Dollar, which is I believe quite a lot stronger this quarter. Did that have any impact on the bottomline, can you just give us the effect of currency on revenue?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
All right, I did mention currency about 4% impact on revenue, a tad larger than that on expense with both the euro and the dollar strengthening... Canadian dollar strengthening relative to the US dollars, but again being naturally hedged, it was offset to a slight decimal percent affected operating profit line.
Michael Briest - UBS
Okay. Thank you very much.
Operator
Your next question comes from the line of Robert Schwartz with Jefferies.
Robert Schwartz - Jefferies
Yes please. Besides financial services, I'm wondering where else you might have seen some weaknesses as you were back on the last quarter and in particular verticals, was it by a size of company, something that might generalize particularly in Europe?
John Schwarz - Chief Executive Officer
There were no other obvious industry sectors that would have shown a dramatic change in behavior quarter-to-quarter or year-on-year. What was surprising to us was that we've seen about an equivalent amount of weakness if you will in new license sales in all of the regions of the world. Each region performed pretty much on par with respect to other regions of our business. And so it seems to us that this was really a combination of the factors that we've talked about, not just the financial sector issue. The financial sector issue was a contributing factor, but it seems to me that the? particularly the UK Government scenario was a significant confusion factor as well, as the rumors and various distractions floating around the M&A activity, both in our own domain as we work through the Cartesis and Inxight integration as well as publicly with respect to the questions the customers were asking after the rumors began to float in September.
Robert Schwartz - Jefferies
Switching gears, I'm curious about your observations about the OnDemand opportunity for BI, for Business Objects. Maybe you can give us some metrics if you can share them about adoption of OnDemand solutions, where you're seeing strength, does it extend beyond the SMB market into the enterprise, and how fast do you think that can grow for you?
John Schwarz - Chief Executive Officer
Yes, great questions. So first of all from an overall market perspective, the adoption and the acceptance of software-as-a-service as a viable secular trusted option has clearly reached a level of some maturity in customers of all sizes and shapes certainly in Europe and North America and for that matter in Japan, have concluded that SaaS is a viable alternative and have begun to adopt that way. Today, it is still primarily a lower end of the marketplace phenomenon, mid-market, maybe even high end of the mid-market, but secondary markets. We see relatively few large corporations moving in that direction, but nevertheless there are some, and again Japan will be an interesting market where the large companies seem to have concluded that this is not a bad way for them to move. I would expect that again using IDC's forecast or for that matter Gartner’s forecast that the SaaS market will become 30% or 40% of the mid-market opportunity, and it will have some significant penetration in the enterprise as well, though hard to call what that one would look like. The value of it from our perspective is that we are able to get customers on board the most current version of technology without expecting them to migrate without having to worry about multiple versions of the technology, shifting around multiple different on-premise implementations. So, there are great benefits to us as a company in terms of cost of managing technology. And that is obviously benefit to the customers in that they can pay as they can go, they can sign up users one at a time, they can implement instantly without having to convert or migrate or do work in their own rights. So it is a powerful new vehicle and it has both cost as well as usability advantages, and I would expect it to continue to grow rapidly.
Robert Schwartz - Jefferies
Just as a follow-up. When you see an OnDemand customer or an opportunity, is it pretty clear that it is OnDemand. Are you seeing customers that are weighing both on-premise and OnDemand checking up the economics, or do they come to you and say we're looking for a SaaS solution?
John Schwarz - Chief Executive Officer
In the mid-market, it is pretty clear when customers come that they want an OnDemand solution, because they typically do not have the infrastructure to run something as complex as BI in-house. In the enterprise, it tends to be an economic discussion. They have the infrastructure in-house, but they are weighing the pros and cons, the expense, the capital dollars versus expense dollars, the lead time to implementation. And so it is much more of an economics dialogue that ultimately is an ROI decision.
Robert Schwartz - Jefferies
Thank you very much. Good luck to you and your team on the merger.
John Schwarz - Chief Executive Officer
Thank you.
Operator
Your next question comes from the line of [inaudible] with Merrill Lynch.
Unidentified Analyst
Hi, hello. Can you maybe talk about your growth prospects as part of the SAP family? If I look at the growth opportunity, you talked a lot about the growth opportunities in BI and how that market has under-penetrated, but it seems to be growing the license at a slower rate in SAP. Can you maybe talk about the benefits you see from just more than cost selling as part of the SAP? I am just specifically thinking about the pushback you might have experienced from large accounts from the Oracle and SAP account manager, since the competition you see emerging from Microsoft coming from a low end. Thanks.
John Schwarz - Chief Executive Officer
Okay. Well, where to start? If you look at the opportunity that exists with the SAP customers set, about 40% of our customers are also SAP customers. And we have had historically until about three years ago very strong relationship with SAP, where they actually remarketed some of our solutions. That atrophied let us say two years ago, and so we are able to go back to that customer set now with SAP's help, did not have that help for the last couple of years. That will have an instant impact in terms of opportunity to increment our sales to the SAP customers, customer set. Conversely there are a number of SAP customers that are not BOBJ customers and we expect that SAP is going to help us reach that customer set, and so we will be relying on their sales force to bring us into those opportunities. Then there is the opportunity to displace BI Solutions from other vendors inside the SAP accounts. We will obviously work on that much to the disagreement of our competition I'm sure. And then there is a set of new opportunities that we will go to work on. The new opportunity of the combined EPM suite where you will integrate our Cartesis, our ALG offerings with the consolidation planning offerings from SAP with the governance risk management and compliance from SAP, with some of the workflow management from SAP. We'll be taking our dashboard scorecards in embedding those in the SAP application suite, so you can have real-time operational BI within the application set that they provide. And then there is of course the mid-market as I commented earlier. We both bring between 2,500 and 3,000 vendors who are working with us already through the channel, team. These vendors are very keen on cross-pollinating their opportunity with the products from the other organizations. So, bundling the BI design solution from SAP, bundling the mid-market SAP platform and bundling our OnDemand and on-premises offerings with the Edge Series I think is a tremendous opportunity in the mid-markets to accelerate revenue opportunity there. So, across the board, there is a series of steps, some very tactical, early, some strategic steps that will be taken. But we believe it will have a significant upside impact on both of our businesses.
Unidentified Analyst
Okay. Will that have an impact as well on the trends of the BI standardization, because I could imagine that the SAP sales trends were probably slightly higher in your organization in terms of the approach points compared to your Business Objects and sales trends?
John Schwarz - Chief Executive Officer
It may happen and we would expect that will be one of the marketing slush that we will push on.
Unidentified Analyst
Okay. Perfect, thanks. Good luck guys.
John Schwarz - Chief Executive Officer
Thank you.
Operator
Your next question comes from the line of Keith Weiss with Morgan Stanley.
Keith Weiss – Morgan Stanley
Thank you for taking my question guys. I was wondering if you can talk a little bit to the split between direct and indirect revenues from looking at this directly, indirect revenue contribution to license was down from 48% last year to 46% this year, which seems to me to indicate that indirect revenues actually under performed direct revenues as far as year-over-year growth. How did... can you talk a little bit about the license in this in terms of how indirect contributed to that and versus the direct contributions within this?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
Sure, I think the first thing is recognizing that in indirect, we include also systems integrator. And so that could mean large enterprise deals also included in that indirect. So, it's not necessarily about small, medium and enterprise. It is about did our sales force close the transaction or did a partner, whether that's OEM or systems integrator. In fact that? roughly 50-50 mix has been quite constant overtime and changes quarter-to-quarter can be as little as a couple of transactions. So, I would not call that a significant difference.
Keith Weiss - Morgan Stanley
Okay, can you talk a little bit about maybe on the contribution to the mix from mid-market versus enterprises [inaudible] enterprise factor?
John Schwarz - Chief Executive Officer
I would say that's a good characterization. Yes, the mix was largely in 20 or 30 transactions at the high end of the marketplace.
Keith Weiss - Morgan Stanley
Okay. And then in terms of product, you talked about the distraction from integrating to acquisitions, Cartesis and Inxight in the quarter. Is there any relationship between that comment and perhaps any product focus, where some of the deal focus might have been, was the focus in any particular product segment or is that really across the board?
John Schwarz - Chief Executive Officer
It's been across the board, but I think your question does have merit in the sense that we have seen some customers asking questions about the overlap between our SRC planning tools and the Cartesis planning tools. And that has contributed to a couple of deferrals and in fact one loss. So, that confusion generated if you will from the overlap was a contributing factor, no question about that.
Keith Weiss - Morgan Stanley
Thanks John. Thank you very much, guys.
John Schwarz - Chief Executive Officer
Okay. Thanks.
Operator
Your next question comes from the line of Tom Roderick of Thomas Weisel Partners.
Tom Roderick – Thomas Weisel Partners
Hi, good morning. Thank you guys. John, you talked a little bit about the IBM deal and the announcement of the expanded strategic partnership there. Can you go into a little bit more detail and give us a sense for, is that a relationship that is effectively displacing what IBM was currently using on the DB and DB2 and DB2 warehouse side? And when you look at when that decision was made relative to the SAP announcement, can you just give us a sense of security that will continue as a partnership going forward now that you have aligned yourself with SAP?
John Schwarz - Chief Executive Officer
Let me answer the second part of the question first, which is absolutely? if you look at the chronology, the IBM announcement was made after the SAP announcement. So, IBM always knew that the SAP transaction was in the offing, and they still decided to proceed with the conclusion of the alliance agreement. We had been obviously working with IBM on that alliance agreement for a long time, much predating the discussion with SAP. And it had not made any difference to... the SAP discussion has not made any difference to IBM's desire to proceed. Now will our new enhanced or increased alliance around the DB2 warehouse platform somehow displace what IBM was doing with other partners in this regard? I would expect not. IBM like us operates on a very open basis, and none of these arrangements are exclusive. They are perfectly free to work with anybody who can help them deliver a stronger performance on the DB2 side as we're on the BI side. So, it is a combination, which is designed to enhance our respective reach to market, enhance our customer’s ability to adopt technologies in a more integrated fashion, but it's not exclusive.
Tom Roderick – Thomas Weisel Partners
Okay, great. Turning our attention here back to Cartesis. When you made the acquisition of Cartesis, I think they were called as being? described as a fairly services intentive type of sale. Can you describe how that services division has evolved with respect to internal staffing of professional service head versus the ability and willingness to pass some of those services... some of that services work along to your systems integrated partners? Thanks.
John Schwarz - Chief Executive Officer
Yes, we're making great progress in that regard and Cartesis actually was quite helpful. Cartesis in this context? Cartesis brought onboard I believe about 200 very highly skilled financial experts that help customers to design the right financial reporting, right financial consolidation approaches. And in that respect, we are now a trusted adviser to the CFO. That skill set does not exist in too many other places, and so it is helpful to our XI partners to have that knowledge that we've these highly skilled experts onboard. And we can extend that capability with these folks in joint services deployments. In general terms, we've made good progress in smoothing out and streamlining the relationships with our XI partners as well, where today our services team, our sales team are very much incented to bring partners on broad, very much incented to in fact where the partner would like to lead. Allow the partners to take the lead in the accounts or for us to take the lead if that is okay. So, we've now become much more able to smoothly and in great partnership way, deliver our combined services. And I think we're over whatever issues that may have been a year ago in this regard.
Tom Roderick – Thomas Weisel Partners
Great. Thanks John. Best of luck with the merger.
Operator
Your next question comes from the line of James Clark with Credit Suisse.
James Clark – Credit Suisse
Hi, good morning gentlemen. I have a couple of questions for you. The first relates to the [inaudible] product. I remember you were going to withdraw normal support for that product at the end of this year. How are you dealing with customers given the transition arrangements with the SAP deal?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
You mean specifically just version 5 of the...
James Clark - Credit Suisse
Specifically the legacy product that is due to come off before? otherwise we would have seen customers being forced to migrate. Are you going to change those arrangements given the SAP?
John Schwarz - Chief Executive Officer
No, there is no reason for us to change that. In fact if anything, I would hope it will help us accelerate customers to move over to the XI platform, those that have not yet moved.
James Clark - Credit Suisse
And you highlighted that a couple of years ago, the SAP relationship occupied for a little while. Could you remind us of some of the reasons why that happened?
John Schwarz - Chief Executive Officer
Sure. SAP used to resell the Crystal Reports solution, it was an OEM relationship. That OEM relationship ended in September of '06 I believe and it was sort of a on a slowing down trajectory even before that. So, it has been I would say good two years since we have had what I would call a significant go-to market assistance from SAP. So, that is all to reverse now that we have this new relationship going on.
James Clark - Credit Suisse
Okay. And when do you think you can go to customers with a definitive and [inaudible] and mindful of the comments you made about the impact from customer decision making earlier from the SAP Cartesis over that. When do you think you can get out to your customers and say this is what we are definitively going to market with?
John Schwarz - Chief Executive Officer
We are legally not able to make commitments to customers as a joint operation until the deal is closed. So, we cannot really make completely, if you will... can't make commitments if you will until sometime in the first quarter. We can provide statements of direction. We have already done so in the initial letters we have sent to our customers for both SAP and from ourselves, and we will be continuing to do that with incrementally more accurate or more complete statements of direction between now and the end of the year. But again keep in mind that we are legally constrained on what we can say or what we can promise as a combined operation.
James Clark - Credit Suisse
Okay. And one I suspect for Jim here. Could you give us the staff attrition metric for Q3 and perhaps for that in the context of Q2 in the prior year period?
Jim Tolonen - Chief Financial Officer and Senior Vice President, Finance and Administration
I am sorry which metric?
James Clark - Credit Suisse
Staff attrition.
John Schwarz - Chief Executive Officer
We are actually seeing lower attrition now than we did a year ago, and than we did even earlier this year, and this is true for both sales as well as other parts of our business. Substantially lower attrition in fact.
James Clark - Credit Suisse
My closing question. [inaudible] how many of those have you closed in?
John Schwarz - Chief Executive Officer
A handful.
James Clark - Credit Suisse
Thanks.
Operator
Your last question comes from the line of Sasa Zorovic with Goldman Sachs.
Sasa Zorovic – Goldman Sachs
Yes. So, my question would be regarding sort of this slowing in the quarter that we have seen. And what would you say? what percentage of... could you qualify somehow what percentage has left or you consider that it left or maybe has just closed as you mentioned in answering this last question. And what percentages went away to the competition or whatever, could you qualify that for us?
John Schwarz - Chief Executive Officer
Of the 40 top deals that we tracked, these are deals that are kind of six or seven digit, mostly seven digit numbers. We lost two, the rest are either closed or deferred.
Sasa Zorovic - Goldman Sachs
And then my final question then would be as follows. Namely, on one hand? can you reconcile the following for me? On one hand, you are sort of seeing that sort of specific weaknesses that you have seen in sort of financial services. But that has been on the other hand somewhat global and then you did mention sort of the UK Government. But then sort of this weakness has been somewhat verily broad, very global. I mean how is that just a specific weakness and it is not an overall trend?
John Schwarz - Chief Executive Officer
We don't believe it is a trend in the marketplace. It was a weakness in our own execution. And as I said I think that execution was primarily caused by the distraction we caused ourselves with the acquisitions that we have been pursuing as well as with the rumors about us being acquired, but ending up to be maybe a rumor.
Sasa Zorovic - Goldman Sachs
Thank you very much.
Operator
We have reached the allotted time for question and answer. Are there any closing remarks?
John Schwarz - Chief Executive Officer
No. Thank you operator. I think we have finished. Let me thank everybody for joining us on the conference call today, and we will be obviously open to take whatever follow-on questions you may lock directly to us as always. Thank you all and have a great day.
Operator
This concludes today's conference call. You may now disconnect.
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