David Silver: Thank you very much for that. My next question is maybe a little more strategic or philosophical. But Barry, you’ve taken a number of steps over the last couple of years to transform your company into as you pointed out today, you’re a payments and data company. But I’m just wondering, underneath that, there’s different kinds of revenue generation. And I think in your slide deck, the emphasis on SaaS-driven revenues has been increasing pretty steadily over time. And I’m just wondering, beyond the headlines or the column headings of payments and data, whether underneath that, there’s also targets or goals for SaaS-driven revenues, which I consider more stickier and more relationship-based versus maybe transactional sales of onetime sales of services to companies that might handle the service themselves.
So what are your goals maybe for that maybe more differentiated SaaS-driven revenue where maybe there’s a service, differentiated service component in there that could make for more durable revenue streams, stickier customers, and that kind of thing? Thank you.
Barry C. McCarthy: So that is a really insightful question, and it goes right to the very core of our sort of corporate strategy, which is we are trying to build the payments and data businesses because by their nature, they are stickier businesses. So for example, in our receivables and payables business, customers choose and adopt one platform to run their — and build their business upon and increasingly they’re choosing our platform. So we have a number of banks that are reselling our receivables platform as a branded version of their bank. So you don’t know that it’s Deluxe providing the solution. You know that it’s the bank providing a solution to their customer. That is extremely sticky because once the customer has a commercial bank relationship with the bank and they are using our platform to manage their receivables and payables, that customer doesn’t attrite and that’s driven by delivering a great experience and set of tools, a software-as-a-service type model where that customer is building their business on the platform.
And that’s obviously where we’re making our investments as a company. We are going to launch later this year, improved tools for our receivables business that will give us really attractive, really easy-to-use tools for the customer. We’ve invested in our platform for our data business, which someone was asking earlier about how we’re diversifying the business, it’s because we’ve invested in our platform that’s allowed us to grow that business into new business verticals. So we’re not here to say that we’re a Software-as-a-Service company. We’re absolutely clear, though, that we are moving the company towards a much bigger percentage of revenue from recurring revenue where businesses are building their business on our platform. It’s completely true in our receivables payables business.
It’s a foundation in our merchant services business, and that’s the very foundation and core of what’s happening in data. So it’s absolutely where the company is going and going forward and we’re making our investments for growth.
David Silver: Yes, okay. No, thank you for all that color. I mean I’ve just noticed with a number of my companies, there is difficulty in procuring sufficient IT resources. And I thought the way you’re already interacting with them, it would kind of be a natural opportunity for your company over time. Thank you for that. That’s all I had.
Operator: And we have a follow-up question from the line of Lance Vitanza from Cowen. Your line is open.
