Pierre Naude: Yes. So let me explain — I’ll use a simple use case, for instance, consumer banking. And if I take you back to an example of airlines, five years ago, we all used to call the airline, make a reservation, get the ticket, if you’re lucky, through e-mail, printed out in your printer and go to the airport and you’ve got a paper boarding pass and a ticket with you, okay? Today, that sounds laughable, and you basically go into your phone, you book the ticket, your boarding passes are in your telephone in the app and boom you go. And you trust the system, okay? Banking literally is that 15, 20 years behind. There’s still a lot of stuff that has to happen in brands, come show you driver’s license, submit some documentation, proof of employment, et cetera.
We believe in the next five years that we can move that consumer use case to a total digital end-to-end experience that’s highly customer-friendly and fully automated. If you take that use case to that extent, it means that the employment shift in banking will move away from personal interactions between the consumer and the banker and much more to a middle back office exercise with people in self-service mode. As we are going to drive that value into banking, we’re going to provide a pricing model that is more solution and platform based. And therefore, the bank will understand that they’re going to have a massive one year on the cost side from us because these banks are all growing and they can redeploy their people, okay? There will still be some back office or call center activities going on to help consumers, who doesn’t get it done on their own, just like an airline do.
So our pricing models will reflect that value we bring to the table, number one; and number two, that it is a platform that is truly enabling the consumer to go end-to-end. If you go from there to small business, it will be more of a 40% fully automated, 60% banker involved. If you go to commercial, it will be more highly automated processes, but 100% banker involvement, okay? And that’s how we’re going to look at that across. But yes, solution-based and platform-based pricing will become the norm in our industry.
Robert Trout: Okay. That’s very helpful. And just on the consumer side. I just wanted to ask sort of a broader question about sales strategy. You had this wonderful win. Congratulations on that during the quarter. And I think you alluded to the amount of time and energy that gets spent landing, something like that. As consumer becomes and as international consumer also becomes a bigger portion of the pie, how do you think about perhaps changing your approach to your sales force, the way you train them the way you resource and the way you evaluate them. Both in terms of how they should — who this prospect? What are the kind of the key metrics to evaluate them and how they’re spending their time?
Josh Glover: Our focus as we continue to take the single platform in these institutions as we are covering these accounts with a core account executive who maintains that relationship. This is a C-suite sale to multiple stakeholders in the C-suite and they expect us to have that core who drives the relationship. And we support them with a robust set of experts across our various solutions who can help them tell that story to those differentiated stakeholders within the institution. For example, you heard us speak about a $35 billion bank. They were already using us for commercial lending and consumer lending. This last quarter they purchase our mortgage solution. They’re going to deliver a single platform that’s going to put them ahead of their competition.
That relationship was driven by a core account executive. But while driving in the consumer opportunity in the past, while driving in the mortgage opportunity this quarter, they had a specialist to help them. That’s the best thing for our customers. For my CFO, he does get some operating leverage with time because in this market, where in the U.S., for example, banks are going through a period of consolidation. When I launch a new solution, I don’t have to linearly grow my sales force, but I can thoughtfully support them with the specialists that they need to drive those other solutions in. So does that answer your question?
Robert Trout: Yes, absolutely. Very helpful.
Pierre Naude: Yes, I can just add something to that, which is, remember, we sell to business owners. not necessarily to IT. IT is heavily involved. They assist us in integrations and project management, et cetera. But those business owners want to see business value. And what’s put in seen or part since its inception, was the fact that we trained our salespeople to understand return on investment, understand how businesses will actually look at this investment they have to make and what value that will bring. If you look at that Japanese case we talked about earlier, that’s a mortgage use case. which is very exciting because that’s a consumer use case first in a place like Japan. So across the board, our people are trained and equipped to do an ROI model and actually win the business based on a solid business case and then with the help of IT get it installed.
Robert Trout: That’s a great point.
Operator: Our next question comes from the line of Saket Kalia of Barclays. Your line is open.
