Stephen Hasker: No, that’s okay. So look, on the tax and accounting front, here’s what we see is happening. Firstly, the number of returns and the complexity of returns just keeps going up and up and up. And I think it’s a bold pundit, as you suggest, that, that’s going to reverse anytime soon, particularly in the United States. And so the demand for our software, the fundamental underlying demand for our software goes up, whether that’s on the tax return side or the order confirmation side, I think the same is true, firstly. Secondly, there’s a generational shift that’s about to happen. A lot of certified practicing accountants are getting toward the end of their careers. And there’s not the same number of new graduates coming through at the sort of bottom of that talent funnel.
And as a result, the profession is becoming more and more dependent on automated technology-based solutions. And that was really the sort of thesis behind our acquisition of SurePrep. What SurePrep does is it automates the document process using AI for a tax return. So it takes a lot of the labor and the grunt work out of preparing tax returns. And so this is also — similar to my comments on legal, tax and accounting group is going to become increasingly dependent on technology that automates that core tax return and audit process. And we think we’re making the right investments to be a beneficiary of that going forward. And certainly, our results in recent years in terms of give us a cause for optimism there. And the talent that we have leading our tax and accounting franchise and the talent that we’re attracting, retaining, developing within that business on both the product engineering go-to-market side reinforces that confidence.
Michael Eastwood: Yes, Heather, I would just add 2 points. The recent acquisition of SurePrep and Accounting really further down in regards to our confidence in that space. Just a reminder, Heather, the Dominio business in Brazil, that’s led by team, that business continues to grow about 25%. It’s about $100 million in revenue, now 25% annual growth. And and the team there driving new customers, new logos of about 10% annual increase there. So that’s also a fuel for the Tax & Accounting overall growth.
Operator: The following question comes from Vince Valentini from TD Securities.
Vince Valentini: Steve, am I interpreting your opening remarks properly when you say you want growth to improve? So you’re making investments this year to improve growth in future years. Does that mean your bar at least aspirationally is for the Big 3 segments to do better than 6.5% to 7% growth in 2024?
Stephen Hasker: Yes. Simple answer, yes. We have very lofty ambitions for our Big 3 growth and profitability, and we think we’re just getting started. We see — to my point, comments to Heather’s questions, we see real potential in the legal profession. We see real potential in the tax and accounting profession. We think we can get our Government business well and truly back on track. And we think we’ve got an opportunity in Corporates, where, as I’ve talked about before, it’s a relatively new area of focus for us as a company. And one of the areas in Corporates, but not the only area, will be an expansion in the risk — our Risk, Fraud and Compliance franchise. So across the board, we’re pretty excited about the growth prospects.
