Ted Fernandez: Yes. I mean all of the above, obviously, time and great help. During the year, we were also changing and improving some of the programs. So they were not only becoming familiar with our relative strength in how to take those to market, but we were obviously even rolling out some enhancements, which included the November — October rollout of Hackett Connect. So again, tremendous amount of work and investment that we made. So even with some disruption, listen, it should not prevent us from are growing that — those services the way we originally intended.
Jeff Martin: And then back to market intelligence a little bit, if we could. Are you seeing much revenue impact from the programs? I mean, you published the first couple of them towards the middle or even in the fall of last year. It sounds like you published another $0.01 or $0.02 and kind of the cadence of $0.01 or $0.02 a quarter plan for the foreseeable future.
Ted Fernandez: No. We project that, as you know, very low revenue since we need these programs would be rolling out in the latter part of the year. So the answer is no. But again, we expect them to contribute to our growth in 2024.
Jeff Martin: Okay. And then — you care to quantify growth acceleration in 2024, how should we think about the model? I know typically, you target a 5% revenue growth and 10% pro forma EPS growth. Is that how we should think about this year? Or should we think about an acceleration where the back half is perhaps stronger than that?
Ted Fernandez: Well, as you know, we will provide the quarterly guidance, we will set the same. We know that at 5% growth, we obviously generate profits in excess of 10%. If we grow anywhere near 10%, or 20%, a bottom line contribution. We will provide our quarterly guidance and allow that to play out, and we will update that for you every quarter as we go through as we normally do. So no, if you’re asking me to provide annual guidance, Jeff, no — I’m not prepared to change my discipline at the moment.
Jeff Martin: Fair enough. Thank you.
Operator: Thank you. Our next caller is Vincent Colicchio with Barrington Research.
Vincent Colicchio: Yes. So, Ted, I’m curious, the sales force, my understanding is bundling of services is one of their focuses. Are you seeing some success there? And if not, do you expect to see some success in that area throughout the year?
Ted Fernandez: Well, it depends which sales force you’re talking about. If it’s our regional sales group that supports our S&BT segment, and that includes all services, the answer is yes. They carry a bag to support the sale of all services. If you’re talking about the executive advisory and market intelligence dedicated sales group, they’re fully focused on those offerings, but they obviously receive incentives to the extent that they identify other opportunities that are outside of their purview. And then our software-related teams work directly with those channel partners and those that the software companies support and they primarily focus on the sale of those software products across the U.S. regions for both Oracle and SAP.
Vincent Colicchio: And Rob, I don’t — I wasn’t sure if I missed it. You had said Oracle should grow sequentially. Did you mention GS&BT and SAP sequentially in Q1?
Rob Ramirez: Yes, my comment was that all three of our segments are going to grow in Q1 with the strongest being Oracle.
Vincent Colicchio: Okay. Thanks for that. And Ted, do you expect Q1 to see better conversion rates with the new sales force? Or will it take more time than that?
Ted Fernandez: Yes, we do expect it to improve. In fact, it improved throughout the year, as you can see, the time and greater the individuals become familiar with the product. So yes, we would expect it to improve throughout the year, including Q1.
Vincent Colicchio: And I know you don’t want to talk about growth for the year. Maybe there’s another way to ask a related question. Do you expect a return on the sales investments you made last year and the market intelligence investments to bear fruit in ’24?
Ted Fernandez: Absolutely.
Vincent Colicchio: Okay. Thanks, Ted.
Operator: Thank you. And at this time, I show no further questions. I would now turn the call back over to Mr. Fernandez.
Ted Fernandez: Let me thank everyone for participating in our fourth quarter earnings call. We look forward to catching up with you again when we report the first quarter. Thank you.
Operator: And thank you. This concludes today’s conference call. You may go ahead and disconnect at this time.
