And so, wage of inflation is abating a little bit, will be closer to CV minus four. If wage inflation is higher, it’ll be CV minus five or whatever. But that’s the algorithm over the long term or medium term, quarter-to-quarter it may shift a little bit just given what’s going on. But over the long term, given the huge addressable market opportunity, that’s the algorithm we’re going to go after.
Andrew Nicholas: Makes sense. Thank you. And then for my follow up, I just wanted to ask curious how the last year or so, given all the macro uncertainty, geopolitical dynamics, tech vendor weakness, all these different kinds of noisy items that performance and that growth has remained very strong and within your medium-term target. So, I’m just wondering if, having been through that the past couple years, if you have any kind of updated views on kind of the cyclicality of that business specifically? Because it does seem to have been more resilient than I would’ve expected, particularly off difficult comps last year. Thank you.
Craig Safian : Hey, Andrew, sorry, you cut out at the very beginning. Are you talking about consulting?
Andrew Nicholas: Sorry. No, I was asking about GBS CV growth. Just kind of the resilience of the CV growth there.
Craig Safian : Yes, I mean, I think it is just consistent with the story, and the facts we’ve been telling for a while, which is business leaders, outside of IT and HR and finance and legal and sales need help on their mission critical priorities. And we have great products that offer tremendous value in that space. That’s really the headline there. We’ve gotten better at the insights we create. We’ve gotten better with our selling motions. We’ve gotten better in everything we do. But the net of it is — is that business leaders have problems and we have great products to help them solve those problems. And again, we believe that that won’t change moving forward.
Operator: Does that answer your question, Andrew?
Andrew Nicholas: Yes, thank you.
Operator: Our next question, please. And it’s from the line of Josh Chan with UBS. Please proceed.
Joshua Chan : You mentioned that NCVI was better this quarter than you expected. So, is there any themes in terms of types of clients to call out and do you think that the strength is more a function of the market turning or is it your Salesforce gaining traction there?
Gene Hall: Yeah, I guess, Josh, I’d say that we saw a pretty consistent market environment between Q2 and Q3. If we get — a minute ago, which is that our experts look at what are the most important issues facing executives in each of their functional areas? And we have we give them advice on how to address those things that’s done in all kinds of environments, whether it’s a really robust environment or not as robust for that individual enterprise. And so, I think we see as just that clients give a lot of value out of our research and it’s been true over time.
Joshua Chan : Thank you for that Gene, and I guess on the consulting side, I appreciate that you mentioned there was some timing pull forward there. But do you think the contract optimization string is more a function of where we are in the cycle and clients looking to, I guess, optimize their spend? Or is that more of a kind of a one-time type of event for you? Do you expect kind of sustained strength in the contract optimization business for the next couple of quarters, I guess?
Gene Hall: Yeah, the contract optimization business we’ve talked about in the past is a very lumpy business. And so, you can’t really take one quarter and sort of say, and extrapolate is something different in the market, whatever. It’s really just a matter of when deals happen to come in and what clients have to be looking for that point in time. And so, the only way you really look at that business is kind of like over a year-long period or something from quarter to quarter. You can’t really draw any conclusions. I do think, Josh, one other thing I’d add is that clients like saving money in any operating environment. So, again, I think, it’s obviously a really strong value proposition even in a not choppy economic environment.
