Bryan Bergin: Okay. Is the activity that you’re seeing for client with Beti usage? Is it occurring any differently with any particular client segment sizes, i.e., larger clients using it more on that having that bigger impact?
Chad Richison: I would say that’s more specific to the setup of the client at what time we actually went and set them up and kind of how we walked through that. It’s also kind of dependent upon their own payroll and how they’re doing things. As far as does it have a bigger impact on one versus the other? If deployed correctly potentially, but the larger the impact would really be, based on how much were you messing it up. I mean, you get to some points in large companies. And I mean, they don’t even have pray to do it correctly. I mean they just don’t. So – and then if you’re dealing with a four-employee company, their employees not care about perfect payroll. I mean – so from that standpoint, I mean, it’s the way to do it. And like I said, the only person that wins in the old model is the payroll company.
I mean we’ve been charging people to fix mistakes for 80 years, our industry, mistakes that we’ve allowed them to make. And so yes, we could look at – well, if we eliminate all these mistakes, we’re not going to have as many direct deposit reversals and tax changes, and W2Cs and new payroll runs. I mean we get it, and we’ve been mitigating it with business sales along the way. But now our CRR group, as I said on the last call, we’re dedicated to helping clients achieve value. That’s where we’re at today and the decisions we’re making today will drive long-term share or long-term value for our shareholders, me being one of them. And so, the decisions we’re making today will allow us to get to the next step. But we’re not abandoning and/or changing our strategy in regards to Beti.
If anything, I would say we’re leaning in more.
Operator: Our next question is from Jason Celino with KeyBanc.
Jason Celino: Great. Hi guys. I’m just also trying to unpack these new numbers and when we look at the exit rate from Q4, it kind of assumes a 14% growth rate. So, the early look for next year is a deceleration from that. So I guess, I’m just trying to wonder if this early look you’re giving us, does it imply incremental bookings headwinds?
Chad Richison: No. Bookings from our go-to-market, no.
Operator: Our next question is from Arvind Ramnani with Piper. Your line is now open.
Arvind Ramnani: Thanks for taking my question. I just was – I have two questions. One is, can you just expand on the kind of the strategic initiatives you’re taking that’s kind of causing you all to kind of, I guess, do what’s right for our client, but see like deceleration in your revenue growth. Can you just expand on what specific strategic initiatives that you’re taking?
Chad Richison: So I mean, we’re making strategic decisions with our base to make sure they’re achieving full value. We don’t really need to telegraph more than that. I don’t want to share what we’re doing and I’m not going to hand one end of the thread from, which someone can pull. I can tell you that all these decisions are specific to what we are doing with our base and not our go-to-market or new clients.
Operator: Our next question is from Bhavin Shah with Deutsche Bank.
Bhavin Shah: Great. Thanks for taking my questions. Chad, just one clarification and one question. Just clarifying the 10% to 11% guidance, is it fair to say that those headwinds that you’re seeing next year is primarily all due to changes in assumptions to your customer base? Or is that more a little bit on the new logo side as well?
