So that’s the idea. That will eliminate Excel spreadsheets. It eliminates a lot of different conversations. It eliminates a lot of kind of off each unit or each party doing different things in a different way. So it will be much more productive. And frankly, we think it will speed for the enterprise to get real value out of the decision at a faster pace. So that’s the beauty of this. And we will see it unfold here over the months ahead.
Marc Riddick: Great. And then in the prepared remarks, well the press release definitely I think and the prepared remarks as well, you mentioned as far as some of the client wins and around AI related engagements. I was wondering if you could talk a little bit about maybe some of the things that maybe drove some of those wins and maybe how you see sort of the competitive environment for winning those engagements at such an important and opportune timeframe?
Michael Connors: Yeah, so look, I think first things that we did is we had to make sure that our clients understood that we were educating ourselves. We were getting access to all of our technology providers, understanding what they each were doing around the AI area. We began to — we did some research. You may recall that we launched late in the third quarter last year around AI globally. And so I think that has helped us. So we were able to get into things like we’re in a global hospitality and entertainment company. There they want us to be able to use AI to have the user interface be smarter and quicker with their customer base. A major kind of global oil and gas company down in Houston, Texas, wanted us to understand how they might be able to use AI as they think about their oil drilling capabilities.
What would be the ecosystem? Who might be out there relative that could help them from an AI standpoint? Who are the providers, the upstarts, the new players? So creating an ecosystem, an AI ecosystem, is also part of the key to all of this. Just like we have an ecosystem to do ops, we have an ecosystem to do applications and HR and so forth. They’re looking to ISG to create this ecosystem where they can tap into who are the players that can help me in my particular industry specifics. We have a European utility company, a Canadian bank. We have a railway company in Europe. These are the kinds of companies invoicing almost every industry that was wanting to understand how AI might be able to help them in their ops, in their applications, and in their customer experiences.
Hopefully that helps a little bit more.
Marc Riddick: Yeah, absolutely. And then the last one for me is shifting over to use of cash. I mean, we had the purchase of Ventana late last year. Maybe you could talk a little bit about maybe what you’re seeing as far as acquisition pipeline as to availability and valuation and whether or not there’s opportunities in general and then maybe a little more specifically around your AI journey as well? Thanks.
Michael Connors: Well, let me comment on the M&A and then I’ll ask Michael just to comment about our use of cash in general. But right now, the M&A environment, we continue to look at areas that we think can add recurring revenue streams or in the area of digital, which includes AI for us. If you think about what we just did with Ventana Research, the reason is they have recurring revenues into the software industry, and it’s a large industry. So we continue to look at that. We are always pretty disciplined around our pricing, and that’s why we danced for quite some time. We’re pretty balanced. We know what we want to do and at what levels we need to do it at. And so the pipeline is still quite good for us. We’re continuing to look, but we also are very measured in our approach, and it is still part of our overall string of pearls strategy. Michael, do you want to just comment overall?
Michael Sherrick: Yeah, no. I mean, overall, Marc, I mean, no change to our uses of cash. As you know, we really have four areas we can put it, dividend, M&A, debt pay down, and buy back. And I think as you’ve seen, we’ve been opportunistic across those just based on return and where we think the greatest value will be created. So really no change there.
Marc Riddick: Great. Thank you very much.
Operator: And I’m showing no further questions. I’ll turn the call back to Mike Connors for his closing remarks.
Michael Connors: Okay, well thank you. Let me close by saying thank you to all of our professionals worldwide for their dedication to our clients and for working together as a global team to deliver a largely successful year in 2023. Our people have a passion for delivering the best advice and support to our clients as they continue their digital and AI journeys in both good times and in more uncertain times. And I could not be more prouder of them and what they have all accomplished. And thanks to all of you on the call today for your continued support and confidence in our firm. Have a great rest of the day.
Operator: This does conclude today’s conference. You may disconnect at any time.
