Raimo Lenschow: Makes sense. And then one follow-up on. So, you adjusted the cost base. Now, you’re adjusting your program? Like, , how long will it like? What do you anticipate in terms of the impact that will have on the organization in terms of people in the right positions, people in the organization settling down? Is that part of your thinking as well? And when do you think we’re kind of done with that?
Jean Paul Chauvet: First of all, as you know, we did a big restructure. And the goal of this restructure was to really remove a lot of management, remove a lot of overhead, become much leaner, and also focusing on the right segment of customers. And so, there’s a number of initiatives that we now narrow to €“ okay, now we know this is what we’re going after, what are we doing that is not in this segment that makes no sense. What part of our org chart have people working on this segment that is not vital to us. So I think highest level, we are going to be automating as much as possible for our existing smaller customers. And we’re going to focus our people, focus our attention on the segments that matter for us. So it is a journey.
And we started the journey at the beginning of the year. We are now well progressed with this. But I think in my mind €“ and then that’s the only way forward is to look at where is it profitable, and then you start digging there, and you remove the nice to have and you just focus on the must have, the real answer is there. And so, just a simple example is, if I know that 50% of my customers are the more established, that means instead of having all my support agents just focus on every customer, I’m going to always privilege my highest GMV customers. When leads come in and they are under $200,000 and we know that, well, we will probably actually not even try to serve them and not onboard them. So I think we need to just remain hyper-focused.
And as I said, for me, the store counts are not the driver. The drivers is, for every dollar of marketing and every dollar of spend, what is my return? That’s the only way forward. So, as we go forward, we’re hoping to get better and better numbers in the more established and we’re hoping that the entire company is just going to be focused on that.
Operator: Your next question is from Eugene Simuni with MoffettNathanson.
Eugene Simuni: Just wanted to come back to on macro headwinds for a minute. Can you elaborate a little bit on the sources of the headwind. I can think of kind of two types, right? One is a normalization, which I think was already mentioned. So kind of the bike shop example. And the other is more is more fundamental weakness in consumer spending that might be related to kind of recessionary environment. Can you elaborate a little bit? You think both of those or is it more one versus the other?
Asha Bakshani: It is really both of those. You’re right about the COVID, the COVID normalization. But we’re also seeing, with rising interest rates and inflation, just consumer spending is shifting, shifting to groceries, gasoline, things that are not in our core verticals. And in addition to that, we’re also seeing some FX headwinds about almost half of our customer locations are outside the US. And so, that revenue is worth less in US dollars. And so, outside of what you mentioned, I would say those would be the other two headwinds that we’re seeing.
