Andre Valentine: Yeah, I was just going to add, Chris, some really strong technology capabilities, frankly, digital capabilities in that LatAm team that are very, very key to helping us grow that domestic market practice throughout Latin America. So just another great thing that we found in Latin America as we brought the two businesses together.
Divya Goyal: That’s helpful, Andre. Just one last question here. On the pricing environment, so over the last few quarters, there has been this increased consolidation of this league. We have had some Concentrix consolidated. Do you see any significant scale benefits? And has that — have you seen a significant change in the pricing environment given the broader macro and how things have trended?
Chris Caldwell: Yeah, that’s a good question. I’d answer by saying that, right now the market is quite competitive and what we’re seeing is on top of every client’s mind is reducing costs and to them that is total cost of ownership. Some of them say simply a pricing exercise. And we are seeing competitors in some commodity work and some kind of higher volume, easier to move work being very, very, very aggressive from a pricing perspective. What we’re not seeing that is in some of the higher work that we’re doing where there’s more technology, more integrated services to be done. But overall, it’s a very, very competitive market right now is what we’re seeing.
Divya Goyal: That’s helpful. I’ll pass the line. Thank you both.
Chris Caldwell: Thank you.
Operator: Thank you. Our next question will be coming from Ruplu Bhattacharya of Bank of America. Your line is open.
Ruplu Bhattacharya: For the first one, Chris, can I ask you about the general operating environment? Can you talk about deal sizes, the sales cycle, and you haven’t, I didn’t think you mentioned the new economy client growth. I mean, if you can talk about that and what really has changed in the last 90 days from an operational standpoint?
Chris Caldwell: So a couple things, Ruplu. Just in terms of timing of deals, the standard deals that we’re doing, there’s really been no change in timing. They tend to follow the same pattern that we’ve seen for the last number of quarters. Obviously, we’re focusing on some of the big transformational deals that we talked about. We formed a new team around sort of big deals. We expect those to take a lot longer. Historically, they can take a fair bit longer, but they’re stickier, longer term contracts, and frankly more profitable. And so certainly we’re putting more effort into that. What we are seeing in the marketplace is that wins, as we’ve talked about for probably the last couple of quarters, tend to come in at the volume that we were expecting and stay closer to that volume versus growing.
And that tends to be more driven by the macroeconomic conditions, right? People are moving to us because they’re getting a change or differentiated level of service and their business is not as growing as fast as it was in a very robust economy. And so we’re seeing those deals come in and probably growing a little slower than what you would have seen a year and a half to two years ago from that perspective. The only other kind of comment I’ll make just in terms of new economy is we’re seeing new economy win business, kind of fall in line with everything else, right, it’s a little higher here and there. So some of the e-commerce that we talked about would fall into that category. Some of the travel would actually be in the new economy category.
And so we’re seeing that continue to grow a little faster. But FinTech and healthcare new economy companies and a few other companies like that, tend to be following a lot of the general macroeconomic conditions of their enterprise peers in the last quarter. That’s probably a little different than what we saw a couple of quarters ago.
Ruplu Bhattacharya: Okay, all right, thanks for that. Let me ask a question to Andre. For fiscal ‘24, Andre, you’re guiding low single-digits. So 1% to 3% year-on-year growth on a pro forma basis. If Webhelp is growing much faster than the base Concentrix business, is it reasonable for us to think that most of that growth is coming from Webhelp or do you expect the core Concentrix business to also grow year-on-year? And if you can also leave in commentary on the catalyst business, how is that doing year-on-year and when do you expect to get to corporate average growth for the capitalist business?
Andre Valentine: Sure. So the Concentrix business is growing on a year-over-year basis at each point of our guide. However, across our guidance, I would say Webhelp is growing faster at each of those points, both at the low end, midpoint, and high end of the range. As for catalyst, catalyst has reached a level of stability where it is growing really in line with the rest of the business and actually poised to grow maybe a little bit faster than the rest of the business in 2024. So we feel good about that. Again, we’re not seeing the large transformational deals that we’ve talked about. We’ve talked about this for a few quarters. We’re not seeing large transformational deals there, but a number of opportunities to do smaller projects and drive good results for clients and growth for the business.
