George Sutton: Got you. And last question, I don’t know if it was simply a throwaway line in your text, but you mentioned expanding mindshare with customers this year and that being a focus. Could you walk through how you’re planning to expand that mindshare? Give us a little bit of a sense of the marketing plans.
Bill Angrick: Sure. Well, we’ve invested in expanding our corporate communications team to do, I think, very targeted brand awareness campaigns with these large corporate clients, and in many cases, government organizations to bring them the receipts, if you will, on the work that we’ve done, the actual transactions that we’ve completed. the case studies, the recovery that we generate. And so its content that’s created and then delivered through very targeted communication to influencers and decision makers that may not necessarily be direct clients of ours, but have oversight of the supply chain, operations, the CFO’s office, the compliance office within global manufacturers, global retailers, government agencies and that might be delivered digitally, and it might deliver you to a case study or landing page and allow you to learn more.
We also have industry specific insights that we’re delivering, for example, in automotive, energy and biopharma that gives you I think relevant data on the market making activity in those areas. So if you’re CFO, I think it’s really helpful to know what amount of balance sheet can I monetize to raise capital in a period where maybe we have to pull back some of our spending. I think that’s been well received. We also have presence as a thought leader and speaker in a number of government industry associations. We have national cooperative arrangements directly as a result of these efforts. So we are really just linking the data of our marketplace with insights and delivering that in a scalable way through a lot of digital marketing activities and we do have recognition happening, George, through sustainability awards, through vendor excellence awards with many of our clients, and those are shared through more of a traditional corporate communications, press release format.
George Sutton: So just to be clear, and just my final question, relative to spending for this objective, none of this sounds expensive. This seems simply leveraging of your existing data more so than anything. There was no needing to walk into Jorge’s office for more dollars to achieve this.
Bill Angrick: Yeah. That’s fair and the headcount associated with operationalizing his ideas, we’ve already accounted for.
George Sutton: Perfect. Thanks, guys.
Operator: Thank you. One moment for our next question, from Gary Prestopino with Barrington Research. Please proceed.
Gary Prestopino: Hi. Just a couple of questions picking up on that last thought process. I mean, last year, you said, you were going through a — another kind of spending investment on sales, technology et cetera. Is that really about over in terms of having to add more people, put more power behind your technology initiatives? I mean, your sales were up 8% last year. If you back out the reversal of the earn-out, it looks like your overall expenses were up about 11%. So I just want to get an idea as we go forward, can we expect to see more of an equilibrium or even maybe sales growth that would be in excess of the OpEx expenses in fiscal ’23?
Bill Angrick: In terms of the investments in expanding staff and operational capacity, you’re correct, we took a step-up in fiscal ’22. We will not see the same step function growth in the period in 2023. I mentioned, we have three new facilities that we funded essentially over a 12 month period to support demand in the Retail segment in terms of the sales team and coverage. We still feel like we’re under penetrated, Gary, in many regions of the country. And it is an e-commerce platform, but we also know that having access to our team and our insights, that’s helpful in attracting new clients and organizations, both in the government market and the commercial market. So areas like Florida, Southeast region, which has had a huge migration in terms of population, and therefore, flush with municipal revenues, that’s an area that’s under penetrated for us.
