Robert Bennett: Well, the first reason is that it is single instance, multi-tenanted. And right now, we still are operating with about 45% – for InvoiceCloud, it’s an electronic bill presentment and payment solution, and it’s primarily revenue from transactions. So we’re getting about 45% of the bills that get issued to an InvoiceCloud customer get paid through InvoiceCloud, which means that more than 50% on average are not being paid through InvoiceCloud yet. While we have customers that are at 80% and higher. So we know how to get the existing base from 45% to 80%. So we have a team of customer success managers that are actually working on that very diligently. In the meantime, we continue to enhance the platform. And when we do enhance it, everybody gets those enhancements simultaneously.
So that’s the beauty of single-instance multi-tenancy, where we don’t have that with most of our competitors. So that gives us a significant advantage in terms of being able to drive adoption and retention of customers better or more quickly than our competitors. And it obviously provides a significant value proposition to a customer in the selling process and to strategic alliances as we speak with them about the opportunity to partner with us and not be stuck in time with a solution that does an installation because it’s hosted, and that installation remains the same until they do some kind of an upgrade. We’re constantly pushing every month to enhance the solution and drive higher adoption through simplification and better features.
Robert Napoli: And then just last question on free cash flow conversion. What should we expect over the medium to long term on free cash flow conversion rates?
Cassandra Hudson: I mean, I think it’s tough to say we got to start. We got to get through the impact of the tax code changes this year. I think we’ll certainly see the conversion rate improve from where it will be this year, just given this is the first year of the impact there. But while we’re, one, turning profitable and then two, investing meaningfully in R&D, we will have more of an impact from taxes that will be impacting that rate. So, I think we’ll see it tick up from the 50-ish-or-so-percent, but I don’t think we’ll get back to the rate – the full rate that we had before, which was kind of closer to the 75%, 80% range. So somewhere in between.
Robert Napoli: Thank you. Appreciate it.
Operator: Thank you. There are no additional questions registered at this time. I will now pass the floor back over to Bob Bennett for closing remarks.
Robert Bennett: Thank you. EngageSmart had a successful, vibrant second quarter. Both of our segments contributed to achieve record revenue and adjusted EBITDA results, reflecting the momentum we have built. Our achievements were driven by several key factors, including robust customer growth, an increase in average revenue per customer and exceptional customer retention. We are well positioned to take advantage of the immense market opportunity in the U.S., and our compelling win-win value proposition continues to resonate with customers. We look forward to speaking with you again later this quarter at the KeyBanc Technology Leadership Forum, surrounded by mountains in Vail as well as the Goldman Sachs Communacopia and Technology Conference in San Francisco.
Operator: Thank you, ladies and gentlemen. This concludes today’s conference call, and we appreciate your participation. You may disconnect at any time.
