And so we’re both seeing the same kind of trends, which is moving to a more integrated enterprise platform type of an approach.
Operator: Next question Tien-Tsin Huang with J.P. Morgan. Please go ahead.
Tien-Tsin Huang: Hey, thanks, and my congrats to Katie and Jeremy as well. I want to just clarify one more time. Forgive me on the BPaaS bookings TCV revision here. Did anything fall out of the pipeline? Is that part of it or is it just a timing issue into next year? And then separately, I know revenue and all the headline figures didn’t change, and I know that the bookings here are very long-term in nature, but are you making it up anywhere else in terms of revenue that you were expecting this year as released at the BPaaS piece? Or is it really just again timing?
Katie Rooney: Yes. Good question, Tien-Tsin. Thank you. A couple of things. I think, yes, it is timing, right? When we talk about some of the lumpiness, Stephan mentioned having over 20 deals, over $20 million. There’s a really strong pipeline that the team is working. I think the strategy’s resonating, but getting those deals over the line has taken longer. So that’s really kind of where that revision comes in. Why we haven’t changed the guidance is because that’s obviously only one piece of the story. Going back to what we’ve done over the past three years and the impact that has going forward is obviously the most important driver coupled with obviously continued strong performance in the non-BPaaS areas, the new pricing model, right? All the other components we mentioned around it continues to support the guidance as well.
Tien-Tsin Huang: Very good.
Stephan Scholl: Yes, I mean just we’re not —
Tien-Tsin Huang: Sorry, go ahead. Go ahead, Stephan.
Stephan Scholl: No, I was just going to say, we’re not wavering at all from the transformation agenda and the BPaaS piece is healthy. And as you’ve seen from the numbers, if you change GE bookings from December 31 to January 1, it’s a different conversation. We’ve had that in the last quarter. So timing is one thing. But the health of the business, the health of transformation, all that is still very strong. And that’s why it shows up in terms of still our mid-term guidance, but as you can see, we also spend a lot more time, because a lot of you as investors and analysts asks that — asked us that, which is how — what is the non-BPaaS book of business? The two together really drive a resilient book of business for us. And so the GE I think example Tien-Tsin is I think a great one, which is there’s no BPaaS revenue, even though it was a major booking last year at the end of the year, there’s no revenue until 2024, but there’s a lot of non-BPaaS type revenue.
And as you heard us say, there’s some impactful growth in the last couple of quarters and moving forward on some of that non-BPaaS type revenue, but all in the name of helping drive more towards our platform book of business in the outer years.
Tien-Tsin Huang: Very good. No, I — I understand. I think just wanted to make sure, make sure, given some of the important may be — important too much focus on some of the KPIs, but yes, no complaints here. So my quick follow-up, just thinking about second half, I know again the headline revisions, which is limited to TCV piece, which you just went through. But any other change in thinking, I know there’s some questions around employment normalization. It doesn’t sound; I’m assuming you’re not too influenced by that. And are you seeing anything there amongst same-store growth for your larger clients? And then same thing on I know pipeline is strong, but just visibility and the conversion timing, that kind of thing. We heard a lot of delays and push-outs with some of the traditional IT services providers. I’m curious if you’re seeing any signs of that as well. Thanks for taking my questions.
