Efrain Rivera: I’ll just start, John can take the here. Yes, Jim, I think that when we entered the year, we thought that there was widespread understanding and knowledge of the program such that as we went further and further into the base, clients would have already themselves of the service. What we actually found was that they were anxious to hear and to be educated with respect to the program and the way it works and our ability to facilitate their access to the program made them constructive about wanting to participate the level of understanding a little lower than we anticipated. John talked about that for many reasons, and it turned out that there would be a much bigger opportunity coming into this year than we had realized.
As we get into next year, more and more time has elapsed the ability to access the programs is running out. One, it relates to a period of time that now will have in 18, 24 months ago. And so as we round the next year, into the beginning of calendar ’24, we think that the opportunity both within our base and in general, will have moderated. So the back half of the year, we don’t anticipate that there will be as much demand or opportunity. And any you want to…
John Gibson: Yes. No, again, I would just reiterate, I think this is a good example of how we’re trying to approach helping our clients. I think when the program was first announced, we did a lot with the PPP loan program. I talked about that 9% of all of them paired with fintech companies to be able to facilitate that. And we’ve really developed a muscle there to build an automated simple solution and an educational package and program for both our strategic partner CPAs and for our clients to go through. When the ERTC program came out, I think, we thought they kind of knew about it and were just trying to do general education. I think what we learned early on is that was just not resonating. And a lot of people either thought they didn’t qualify or weren’t sure, or quite frankly, by some of the just hassles and other challenges of participating in to some other government programs, they felt like, Hey, I don’t need this right now, and I just can’t tolerate.
I think we had two things kind of happen. One is our data science team began to look at actual data models and we started to be able to pinpoint accuracy, be able to go to a client and say, we actually know from our data that you qualify and this is how much we’re talking about. So now you’re saying, hey, I can get you a check for $180,000 and what you had to do with education. There was some more information and then we made it a very simple process. So one was we were now instead of broadcasting to all of our clients, we were going with a specific database analysis to a specific client and saying, we have a high degree of confidence that you spend 10 minutes with us and we get a few pieces of information. We’re going to be able to get you a check that would be meaningful and worth your time.
