Perficient, Inc. (NASDAQ:PRFT) Q4 2022 Earnings Call Transcript

Jeffrey Davis: I’ll take it at a high level. We’ve got a group of strategists that not only help clients, but also Tom and I rely on, and of course, the whole management team, to help us navigate that and pivot around what we think are going to be good opportunities for us. Not all too new technology at least early on, is necessarily a big services opportunity because not everybody adopts it right away. We take a close eye on that. We’ve got a team that focuses specifically on that. And I’m going to let Tom add — I’ll mention the M&A as well, I’m sorry. We do have M&A in the pipeline. We consciously kind of put that on hold really for the fourth quarter. We closed one deal in the fourth quarter, as you know. And we kind of slow things down a little bit, we want to see what the macro environment was like.

And also wanted to give the valuations a chance to catch up with the public markets because we weren’t seeing that then. Things do seem to be improving now. And so we’re going to be getting back in the game likely in the second quarter.

Thomas Hogan: Just to take on that a little bit. So our team globally, is a bunch of explorers around technology, really looking at the next thing. So as an example, gendered AI. So we have interest groups around the world, not necessarily just within our strategy team, all our strategy team looking at the next greatest technologies to come. We actually then put together interest groups around the world, individuals from Latin America, India, Serbia, China, the United States, working together collectively on newer technologies around use cases, how clients can utilize them. You’re probably familiar with Chat GPT which is a gendered AI tool. We have clients working with us regarding how can they leverage technology, not just for us to play with, but for them to actually gain through ROI.

And we do that with our collective 7,000-plus consultants around the world. So we have specific interest groups around that domain and technology that we will talk a little bit more in the future, but it’s a very big part of our culture is to look at those technologies and see how they can be of value to our customers.

Divya Goyal: That’s great color. Looking forward to what’s coming next.

Jeffrey Davis: Thank you.

Operator: I would like now to turn it back over to Jeff Davis for closing remarks.

Jeffrey Davis: All right. Well, thank you all for your time and thank you for your patience and sticking around as we worked through some of the technical issues at the onset of the call. But thank you and look forward to seeing you again here in about 60 days.