III - Earnings call transcript Q3 2020 | Information Services Group, Inc.

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Operator

Good day and welcome to the Information Services Group Third Quarter Results Conference Call. Today’s conference is being recorded and a replay will be available on ISG’s website within 24 hours. At this time, for opening remarks and introductions, I would like to turn the conference over to Mr. Barry Holt. Sir, please go ahead.

Barry Holt

operator. you, Thank morning. good Hello and My name Barry Holt. is a Communications at Executive ISG. I’m Senior to I’d ISG’s third everyone quarter to like welcome conference call. I’m Executive Chief Connors, and joined Chairman and Chief Michael today Executive David Vice Officer. Financial Berger, and President by Officer;

of future Before results current forward-looking It we ISG of expectations the cause may and events is a of statements are forward-looking their not risks management effects. certain that statement. contain potential note beliefs actual begin, certain like differ to which materially read could statements are would communication concerning from These I and to and those future important represent and to the that to subject anticipated. guarantees uncertainties results the

could statement For to this XX-K please the a results. Factors more in listing contained morning the and Risk detailed that ISG’s that future section the to affect refer of was forward-looking risks form factors our Form X-K results, SEC furnished full-year the other covering and

read You the SEC. Form amendments these with filed ISG’s documents XX-K documents or supplements should any relevant other annual including also any to and on report

You on free undertakes at update ISG’s subsequent events revise any copies or will www.sec.gov. www.isg-one.com either at SEC’s any the website website statements no ISG’s SEC obligation able to reflect be ISG to of obtain to forward-looking filings or of or circumstances.

selected information substitute prepared adjusted currency today The measures additional on measures a between and the which and should improves non-GAAP a the provided with the and presentation not in measures measures considered periods transparency to a believes constant EBITDA, for periods will ISG comparability on the data greater of financial or financial ISG and call, isolation this adjusted performance. measures as the accordance results company’s which certain will net as GAAP. financial are between we earnings of be we financial the financial During key company's evaluate company's believes in basis. provides comparability results non-GAAP discuss Non-GAAP include touch of used of improves results which

of For like our most all Mike? report I'd which GAAP who will Berger. filed And SEC. over the to now turn the measures call to the X-K on the refer was measure followed with Form to non-GAAP this to current be presented by morning Michael applicable reconciliation Connors closely please David

Michael Connors

Thank you and in strong X% third everyone. the very pandemic. had of global and Barry sequentially. XX% this good morning, quarter up a even face Revenues were We up EBITDA

from our approach. new success with quarter of team. of particular ability and cash business up generating strong due services outstanding. win XX to environment revenues And to last With people strong power our of quarter coming the cash for is cash generated clients. ways efforts has the the provide testament remained million quality A $XX Americas disciplined new of million in work to the and this our has $XX with, Much In the our in over our home QX. extraordinary to global in to The of $XX of adapt operating business high to operating a XX%. ISG our XX% cash quickly million continuing working our Cash up months growing of balance been

launched. Go Our Digital strategy

launched strategy crisis. digital go and pandemic this Our us health well economic the is helping before weather

of our people, of our management our the business and demonstrate power relationships and leading this disciplined the our strategy. relevance companies. with world's the results Our of resilience The

industry third segments. a number the of saw signs our we quarter, bright in During

sciences in tech our retail energy, and sector, we're and all double-digit verticals. insurance, the over digits up Our sequentially, telecom we saw verticals double prior And life public year. growth

down manufacturing year. prior and banking double hospitality, flipside digits the the were On all versus

and and solutions is helping cloud to future from knows monetization, to digitally-turbocharged and the even our governance improve of is next-gen supplier enterprise continue and Virtually automation digital. the takeout find digital services benchmarks pandemic-ready working best way why investment industry, to workforce a every prepare pricing connected when on but that clients and future. keep efficiency, the in current situation of are clients vary many for That's captive networking data to apart. invest and reach The the adapt depending cost new Our analytics, customers, opportunities pace continuing. may it employees

the to a to hospitality in on working This last and and these EPS rates let terms. a offer exceeded year-to-year mentioned basis number clients the due Revenues X% of million industries. like only and when X% exclude as down me up quarter hotels our all revenues extended and And performance. Revenues, market travel backdrop, of insights as absent further a was expectations softness transportation the were for distress On over industry were With $XX detail financial our about are travel. you in result reduced a the is sequentially PNE that cruise QX. quarter ban continued EBITDA lines and with billable

higher of adjusted Thanks and services helping and margin are During clients million revenues mix downturn. a generated the wide recurring actions the And aggressive million total. profit from perspective representing up XXX this cost up EBITDA since $XX our and our in $X.X the we served of quarter XX% clients. QX. That's pandemic. was From of we that X% of to firm beginning XX% early weather our our products

We major the ready margin services. focused higher will see as likely continue remains a clients even near revenue demand term technology delay initiatives pandemic on on to spending in as pressure

of even As result our our and a to grow resilient portfolio continues actions our capital stronger. position

million million quarter in ended year-to-date the the we a cash total acquisition. the in $XX $XX generated million mentioned $XX with and at time $X As $XX cash million [indiscernible] balance versus quarter of year investing to our we even bringing flow million for after from last operations I this

fully discussed integrated enablement been a have into leader market solutions we Neuralify and intelligent Neuralify's automation. in quarter July then Since ISG last As operations in services. acquired automation

differentiator with strong business. We’re providing automation ISG already for the combination from benefiting Neuralify our market a solutions

to year. client in delivered Americas of our million turning billable sequentially about decline. versus the T&E in $XX contributed quarter reduction points regions XX% revenue up A this in the XXX the basis down XX% Now prior

three As Columbia for number harder million on we close segments client in growth sequential client mentioned in our more industries and margin sciences reductions Among terms quarter tech the hospitality. double signed rate other ISG cost all higher software accommodated Key migrate platform. energy the our with and will major Corning included some financial extended Health GovernX up automation to of see and sequentially. [indiscernible] Steel a services One in automotive this areas to quarter like in our takeout year travel Grid. a engagements deal digits US life good X,XXX of contracts like and hit did last $X for and US clients third We and in wins ISG British GovernX a Public National the than Hydro firm significant services

awarded were care also the health XX company. a We month million $X.X GovernX with contract major

our leaders fight in remote of in scores. we And at One this uptick selling when seen all of the and COVID-XX. a done against have an satisfaction the in environment client a delivery time

prior QX line year. with revenues Turning in of the down were million from X% QX to $XX Europe, our

clients’ sciences in delivered During double-digit a growth offset the third and engagements and and and their Alliance, its Among been services manufacturer with than the support decline our a client quarter, ISG in in Among device to Day. Europe services sourcing EMEA by more in a up industry research financial revenue business. our Key Germany energy, $Xmillion optics manufacturing. revenue doubled New our Wintershall, segments, in included has program. medical quarter were global network life consumer, Audi, awarded wins, contract Volkswagen multi-national strategic

addition, win modernization for the their company engaged ISG successful nearly a landscape. of HR client this The earlier engagement pharmaceutical life and In has with $X global million leading lead enterprise delivery an to the the tech of sciences follows year.

nearly growth sequential by double-digit million and revenues driven reported tech, with sector, $X to we verticals. Asia-Pacific, in insurance services up public financial industry the XX% Finally

the multinational to contract the ISG date and the Rio years. with the a GovernX total company. included on $X.X and clients Defense, Department builds Insurance Asia of Taxation through for IAG AMPAS the Office, Affairs last Banking XX largest this of region contract awarded in the Department this distilling in Home Australian in engagements value over success the Company client two million Group. engagement During Services ANZ ISG quarter quarter, supporting brewing Tinto, deal annuity our was key Japanese the represents it Other This and

let Now guidance. me turn to

in there early some a we return some the As we a to from all for over to we're quarter, crisis while environment. curve we predict difficult The know activity. through too to prior it's trajectory the the COVID although flattening of been levels continue for countries. last of as far plan has indicated recovery And is still working

consumer induced We only especially introduction this decision to the Apart on our pandemic continued about expense X% to X% facing zero we client of crisis industries. of continue near a the begins reduction from likely This our for usually in of impacts with clients' T&E impacting and which in see to are demand making to vaccines. surges is runs client reimbursable looking revenues. subside those QX

eventually for return. planning events destination are our ISG We produced to live

events We from revenue any of the in-person forecasting year. for are balance not the

planning. investment and previously in an transformation assumptions ISG this rapid Workplace we optimization continuing resiliency, capability On all our Network basis the we risk client seeing digital management, a to supplier on on making based provides. the accelerate term as we’re of environment. strong quarterly a provide demand Solutions, services, will for in mentioned are services upside and and interest on will cost guidance client Balancing Digital pandemic think recovery Longer continue volatile we business

quarter adjusted $X $XX of million. and fourth and EBITDA between we are the $X million million revenues between For and $XX forecasting million

have of delivered taken quarter. in in actions result the being of As the a services we anticipation margin cost higher and

me So results. over will call financial with David? our David who let turn summarize that Berger to the

David Berger

Revenues million difficult reiterate year good currency. said we solid in by morning, through quarter. for versus operating a the sequentially. $XX.X $X.X million XX% and Thanks, year. on the X% revenues And reported environment down were Currency million impacted Mike. basis delivered managed third third everyone. up positively a what XX% prior a quarter To the This prior compared reported with and in constant $XX.X Mike

prior currency. $XX reimbursable and in sequentially of million Excluding year Reported on $XX.X was revenues constant basis and reported to the the and approximately X% in up points the up a on versus reported up million currency million versus in sequentially which the X% year. and in XXX costs last a Europe year million XX% were travel versus up decline XX% year for sequentially prior only constant and X% flat XX% year. X% year Pacific in and $X.X down basis prior XX% down $X.X basis down Americas versus client accounted revenue Asia of

was quarter prior basis in XXXX per Utilization with million up million $X.XX million was compared a income with $XX.X quarter a sequentially $X.X or slightly the quarter. years' prior a or of $X,XXX income the third $X.XX year's million We XX% per $X.X down XXXX operating diluted the quarter third of million basis $X was quarter versus per on share Quarter XX% for last year. fully year's and million headcount third diluted $X.X Third the quarter ahead was -- for prior net Adjusted the million flat of third share net with adjusted income income quarter EBITDA end for quarter of reported the in with last fully of quarter diluted compared million income quarter. the year. income share fully $X.X adjusted in compared third income operating up net $X.X net Reported on third compared XX% in was with was $X.XX $X.X

$XX to to the quarter nine-month cash and $X long over million sheet Our date less the period. and our Net $XX provided continues by for year balance support was the than versus have to term. million business in operations flexibility year’s strength the prior third million

$XX.X $XX.X in quarter debt of one-point cash, cash $XX from spent to of last repaid million quarter lowering dollars generated $X.X end with XXXX ended debt have to million in of months. We million year at from acquisition operating and our date on the million $X flow of the million we million QX. up XX million. We and $XX.X We $XX.X year and million Neuralify activities the over the

now quarter we less XX. million rate share and borrowing rate of was than will of Q&A. for we the last to shares half remarks X.X% as before Mike? Our had go XX October outstanding year's concluding Mike average

Michael Connors

operating you, our in portfolio. resilient Thank To think ISG gain model David. COVID-XX. summarize, to testament And of the to it's a momentum pandemic-ready continues and I face

expectations. beat had million cash continue of services. an with generating last mix We million the to actions X% debt products after $XX EPS of quarter the at additional down to Our since margin pay early improved revenue, EBITDA Thanks down in of and end year. in and our quarter we and and decisive end cash higher our debt and $XX

We the without pandemic our contend downturn. to deliver interruption in we higher increasing margin they see demand digital continue accelerator clients Longer for services and need transformations and for to being XXXX. an serve our with the term our services digital this clients’,

As are focused excellence steadfast mission are value shareholder long-term we always our we to clients. creating the our for on operational to in deliver and

session our for you turn thank in this morning, now questions. very much over Operator? the to me So for calling let operator your

Operator

Instructions] question come [Operator will Gomes first Our Thank Noble Joe from you, with Capital. sir.

Joe Gomes

ones technical quick here. Just a couple of

rate to speak driven this versus quarter by tax like the so year-ago looks lower quarter was So the it a quarter. the EPS in beat, for

Just more rate. expect quarter could that and the give color tax possibly terms on of fourth little we what for a in

Michael Connors

Yeah. Thanks, Joe.

there in to So unlimited earnings reduction a related tax yeah foreign quarter. change impacted India favorably was which the in law

for XX% you'll good. -- around think be tax be the you rate quarter use fourth if an of I effective you'll

Joe Gomes

of repaid how quick real technical to been deferral Okay. in much that nice XXXX. taxes eventually build so be got here and have And deferred. of of part payroll again XXXX some been the which cash on payroll wondering do kind I'm of the is the just have taxes streaming the

how to an federal needs actually but to that government back much does need a get of the cash just on back kind you them? go basis of to go to delay So idea of

Michael Connors

next Yeah. I starting it’s going period a be year. to mean federal on over of two the a US year paid end at

in significant delayed not impact that the big and -- were but were QX. in of QX repaid actually the not So foreign that is some taxes

up So expect slightly cash go to quarter. in we fourth would the

Joe Gomes

the little insight into you wondering integrated that delivery the more provide mean might I’m last be about detail what like if delivery give you that about more a into this future wouldn't a more And bit company? color us for platform quarter talked in you integrated Okay. little platform talk to willing that and can and some

Michael Connors

Okay. Thanks Joe. Yes.

is, it work client able enables we with process are implementing anywhere is global take of our its environment and of new the to instead home the have essentially experts in we because have with are And we We now what and clients it it taking primarily essentially operating workforce everyone we’re this world. in essentially in course. what a every available from geographies pull and us the the to workforce together is that to of do are

our to in country in to And the US get a little the downs do this out and they're us versa. that city traveling essentially with productivity margin in on in Germany more of city will people or you to allow road. from ring is you and can because us experts lose what and of that out help vice you so a the when And if our it have bit you country Australia to business smooth on will enable little resourcing when the bit ups and clients

So when will is model significant move about we'll XXXX. is it further will forward ISG a talk believe degree calling do it us. March development to we what Next through significant in more we'll it XXXX. But talk But about operating going which and for we this in enhance March. talk about our fairly profitability a we it is our We're this as

Joe Gomes

one And and Thanks queue. I'll me then for Okay. in update. one last back from that jump

see expecting with here I know is of the in obviously one So budgets. to any -- concerns pandemic is, weren't slowdown. dealing any you state the

last I was think it quarter.

are where what looking today see to budgets. kind states guys selling wanted that Just of and into terms market of is you or their like in in

Michael Connors

Yeah.

we’re in federal. -- the of kind with UK, under local government. to only for Interior One sure down be Ministry of for and No of clear. state Italy the we're things we the So have of to us Australian is government in like then three US, all the the have in so just federal we Europe, governments. the tends it make Ministry areas and at government, Defense In

those So, areas. three there is kind of

double Our think approached the XX%. state it the digits standpoint, those in US, In grew low from it year-over-year. about globally if it year-over-year public sector also not call at quarter grew quarter and in a but it you in the XX%, the levels teens

We are this. watching

sector like the felt we before, in said public a lull we As was spending. there

of areas budgets. and is -- recognize around COVID that do there for local us of putting cost One of tends good That they tax cost to and the of because that the before is pressure news the we get on have we're because way situation reflected. course and they management seeing work with certainly that the out can be state that be to

cautiously So we're sector fourth the growth continued see quarter. in -- optimistic optimistic the that in will public we

Joe Gomes

guys. Thanks Okay.

Operator

Thank you.

Our question Vincent with comes Barrington next Research. Colicchio from

Vince Colicchio

curious, by of expectations saw market Good and quarter? guidance you geography some just same I'm your what you your sequentially. are expect this per vertical drivers as morning. do the

Michael Connors

Okay.

So, where think happening better on in faring a moment you look surges bit global tell is would only a Europe. the in basis I the I are US the because can say

France, are kind month the of November. for semi a all Germany lockdown of in So UK,

into a for to We I good likely consideration also what sector on to flat quarter. all is, spending more think So guidance pursues keep think in for shape if number depending the you'll We've on be think everyone the is in the eye we'll terms the good that December we how that in And an will at the we get the be with were going trying to looking shape. Europe lockdown Asia it see would of in be way Pacific is arena. of US in geographies our taken that public good and that.

Vince Colicchio

are I'm Okay. is curious, gross there any pretty And decline your sequentially. margin. it on Pretty, just margins pricing down year-over-year. you're similar or seeing? is pressure XX%-ish They're volume

Michael Connors

Yeah.

So last a driven that was the network to in the services the had for margin added record area in that shares might gain last And was you QX recall quarter. quarter that company. the year We the year. two

tend those contributed year where would licenses our the actually be was with -- I and not two the margins XX But especially business to EBITDA we margin the Also margin margins was say is those call a basis our points points it of last during deals quarter XX I'll delivery the an driven the lower year again would we beginnings that we're I beginnings well, anomaly the up that. by consistent to average integrated margin. although for than expect So only over had and and QX firm it's be was mix quarter last of to our -- think automation the the up our about the fact platform. with

Vince Colicchio

And have that recurring I in going about that thoughts are revenue forward? does your the may quarter. perform missed. What How

Michael Connors

Yeah.

have AI since So of a we say platform We nearly of example little contract were kind software would best well. the contracts managed management practices are based it have have We users a XX% sales platform XX,XXX on for that dated I that the takes we quarter. grow. now mean it's and XX,XXX pandemic of seen began. now. full or over and repeatable force last million the resonate now we've GovernX a kind did quarter. tripling nearly I platform for that our this of number solution cloud roughly and $XX software goal performed -- We in continue and to

And that considerably. has these supply to clients. a chain around that So along you it of enterprise management can -- management see with is risk chain, picked lot supply deal up that suppliers has

our our two think to continue business we streams. research recurring in those drive revenue will continue areas So particular that to

Operator

Thank with you. Instructions] Our [Operator next Rodriguez Marco comes question Capital. from Stonegate

Marco Rodriguez

maybe in sounds about additional you if you that to GovernX. Mike, that bit service. you some a wondering strength, of success could It was guys just was underwent? kind perhaps the talk kind with like timing there you issues lot attribute of marketing or I What little do had that more of a efforts guys quarter maybe

Michael Connors

GovernX the good, chains I with since the is is, around So risk There enterprises what's were of And a contract, change supply happened an cetera. ability had hit, management their think COVID to manage lot their what chains. lot table brings bad to industry issues the supply et the of and interrupted. the supply manage a

seen interest platform a so have us our all enables of enterprises And large SaaS we that cloud-based large GovernX to to had these level enterprises take is our uptake in a put major manage their contracts which use of them issues and then solution from software pandemic. the some risk to onto our from chain they've supply mitigate help allow our the and enterprises during

we’re of the in It that you has have say up an kind two of pandemic that usage users ended would the software the plus number great, thousand the up up area. great the kind asset stream. users two now and X,XXX revenue this of to it's great, was I GovernX gives quarter-over-quarter charged to on So a category we with during now recurring a new to and quarter-over-quarter XX,XXX indication of X,XXX we're two and now XX,XXX. So pre pandemic We and turbo we're

Marco Rodriguez

your from better moving kind understand mean towards mean I sense line on strength very that in that as digital the versus attribute perhaps far big results just are? just you as would of more with customers quarter And the it. to obviously saw to accelerating a the guidance aside you aspects get you where the strong I and saw the trying the revenue surprises strength all pandemic there? obviously Got set top other trying are

Michael Connors

the look insurance the other to GovernX months, all quarter-over-quarter. -- months. helped is very Think mentioned. access is as we was public of that in contribute six which about grew lot their the think in eight the it US centers ties sector party A inability spend and kind around aspect US technology the last of research adoption management several certainly you all I would kind a has certainly accelerated over was We the risk months, is adoption. recurring the and at of it data cloud had enterprises seven And at together Cloud the hot. look Yes you with pickup of I say have a definitely. segments The industry from home sector a hot. in at through and enterprises last area growth of revenue streams little overheating six from look years effectively when the the kind clients third of when gone e-commerce of in XX% multi bit these work a learning And you if posture, then lot the will. lot a of of of with course has months. I

Squarespace So This Shopify, think and store that like online explode. a whole is area about beginning others. to is builders

down side picked was into healthcare up whether with lot the the in the sciences have was slack. So area a with the and that's environment And and stores, no the on the retail one or a it's your e-commerce as where lot whether that of just of vaccines of turbulence industry COVID. overall course, health it’s going kind shut researchers of well then environment you healthcare

the many of kind pace with to work pace management supply our enabled move together portfolio to depending hospitality were do our them and focus this that of is services in cloud a journey. that law they of are and COVID, with chain accelerating. take adoption, products at will automotive slower, And them they kind They and on informing to to just have environment. will certainly a and on factors of of allow but industry, around So and them them travel continue the the at they focus kind through That's is to little continue our prior also that around all but research be merging us there. this that's digital can clients lots of

what is So, what's things. driving say that's would I

Marco Rodriguez

working here liquidations of driven cash obviously Very flows, Thanks. capital. Then year some to through primarily here helpful. results Okay. just looks towards shifting strong obviously very and like kind date

obviously XXXX? how in is wondering that of of flow sort should fiscal from kind you obviously about assuming sort about color fiscal working be revenue little operations, help thinking into cash us in that to head capital you about Just will kind any flow normalizes growth just Where from can would more we free that of flows XXXX or environment talk be XXXX But support that of normalizes ops think think you a be as growth. cash to fiscal drivers there have bit do of helpful. we any the guys have sort cash to

David Berger

Yes.

driver normalized to store $X to a taxes for of business. cash through has cash So paid as capital. the We've ongoing low. a have in million driven, you of expect basis out, quarters on be the working would this in more EBITDA able collection the been more three pointed more XX% of the year's change flow range would be flow cash been is very increased the We've effort you amount big cash taxes

Operator

Thank you.

with comes Riddick question Marc next Our Sidoti. from

Marc Riddick

bit could encouraging. Neuralify acquisition touch I portfolio lot the that very you taken to lead taking forward to prioritization things some like going the a A moving of and there. you place pipeline and about wondered right since out service So that's think then that's on of the maybe maybe how give have little place bit look that the that a in with talk on of and little fit offerings? where going direction might the sense the we kind what and given on a are everything that if acquisition

David Berger

Great. Okay.

the industry-leading wanted everyone -- asset key considering working platform at be just Neuralify from couldn't scale adoption kind home, for at a to we remind platform be So quickly to us. our to believe better of enterprises fit time able enablement to clients that that that, enterprise digital hands everyone's all of allows the of to on Neuralify kind get RPA. in first is to scale an we kind having digital of a of And what

So we services at number automation Neuralify. with we wanted that The our one, that is have. is to for hands the asset as that coupled reason the get that on ISG

platform. enablement digital this add You

have of piece company been kind of one Fortune end gold a unique enablement we were platform the platform, digital But around and there. of it's think kind selling the a adding selling we then allowed when client saw in by up million business. an market. sell as We us that third get enablement September hands digital that in we on to we standard And learning had to the to on ended You RPA. kind kind is quarter continuous digital of And in of a able unsuccessfully. the to XX the proposition over $X chasing

second the had on for that hands scaling wanted automate process. that that we code which our their we a as industry. if asset is of was RPA. us the to enterprises CQA helps is in will Neuralify accelerate called you And get what refer to analyzer code allows essentially review quality The that to it

So, may Neuralify to the market undervalued to by believe after went did on we July. in fully it that in its we overall discussed integrated comment those when automation and first past would have the we we our are enhance the the just two that is we very in that for days this of focus that XX business reasons back however be and strong ways pipeline still will asset the continue value We in where on we shareholders. exploring automation. all completely able is I

expected So early has days delivered for Neuralify what deliver on to us. its in it our as we on in view

Marc Riddick

the think of little that had place might in on that for viewing be bit revenue legs sort you this cost I pickup. -- sort of Okay sort to and a you -- in in that term you're wondering been of or have short other touch give might taken saw this earlier fairly folks everyone wanted in was of lot update actions allow point cuts they that then great, is to revenue a forward what year. to to maybe going the midst either the how cost are common until greater -- a an David. a up of opportunities if nature as I And

Michael Connors

You're clients? our for or with talking about ISG

Marc Riddick

ISG. For

Michael Connors

Yeah. Okay.

the exceptions most do part significantly. are home. travel We've premises we’ve internal discretionary a of but elimination few have as just us We were reduced eliminated or we bulk all that So that reminder the clients to eliminated a that from work for spending on of to allowing travel. have and it

we'll the our this taken that's day said I kind at our that's this of when of see delivery will we've business as done -- that through net mind forward talk keep for on excluding We’ve be that will some and year enterprises resetting net that in including reduced out about think Next and we're talking that to what revenues marketing what the which our in expense. ISG a about cost the travel So time. allowing COVID during because what we end expenses talk we've and are is, basis base flow new more we've with we so chat a we why about model going we year platform about you includes basis of opportunity the XXXX. can And all on launched T&E call likely March kind integrated

forward, yes move Spain. We and moved moved few And out a that a not So we very not set also going will of cost of products a areas. out We've areas revenue. we good few We've services. a of out come few but structure back, of that moved forward. as revenue revenue other have sunset, we was with think profitable

we on-the-ground that of our certain will points. advance. sunsetting having XXXX, the by we farm move we a will continue products our some that in view more was as our firm in to margins profitable sunset expect be teams and some of services and see Europe in through And So to our

how Marco. that, all So of see we that's

Marc Riddick

more about wonder we a of that what and little And to I Great. the those of industry, the -- implementing. you're move able the differences as the from talk in especially industries what that sort further decision thing maybe consumer-facing onset. consumer if me as a customers if you talk we're it I But forward seeing The they're could sort clients are a sort I customer picture suppose. those making and the then the seeing making a that their that further that of second the sort timing impact activity ones with having challenges? transformation of of talked suppose facing with that wave little as this kind you're little -- more was things more dealing to them digital you bigger a of wondering of the of about Okay. is are for and to last bit they're to is that along

Michael Connors

Yeah.

just contrast you hospitality. to So have your you travel have your

some put manufacturing on the You and would have I still some scale that automotive struggling. of

health others think about pretty cetera health the on e-commerce we as focused sciences of pharma are care have the the talk -- doing like all with that I well. areas are the some et are retail You can

accelerate they ones is possible. the with moment XX% moved move you as pre-COVID the cloud. of at Everyone move range. XXs to XXXX doing? that faster cloud. average The work trying say They the if the the Global to we're workloads would in that On in will trying to before sitting XX% the much are enterprises somewhere is to workloads to probably as advancing are really are to what So some I to XX% to their cloud COVID. around the cloud. is, Again

as everyone's as a on distressed that move adoption. so. cloud those are is fast you that are to There fast, on energy are nearly not Those possible. moving pace trying requires at not as it. if to dollars a and are But ROI That do not, Now as moving rapid will. great time quite

the of workforce the have future. also We

plus we of XX% enterprises. put at with I home in capacity, it's a to networks mean would demands, you about on everybody cases difficult working pressure up some If keep with think lot put extreme networks. the at

in which XXXX. and we as help well the from to our me, mean of expertise of quite workplace technical how earlier excuse well standpoint, can a future expected what help of now and quite terms through being we through do quarter and how the the we work the network does clients we move as manage our do them kind that into that here technology and So we was doing said in

going also seeing monetization we're some look, So on.

with So businesses. think centers about are of Global own cash ability injecting is to large Azure from and and AWS some that are those into making companies monetize a Global large XXX The those play data to who data physical centers providers centers. date buy These enterprises. XXX out

the of major number on clients. leader clearly around asset a the with are monetization. working client, now We those We're right

that would digital, -- the areas that that focused so I to those the to now. future. adoption, of continue move are move And monetization, on, cloud the kind are asset workplace clients say areas able of right That's they're rapidly

Operator

over remarks. I turn now further call you. time. closing no at questions Thank the back would showing currently I’m for this

Michael Connors

world. our morning Well, to working support professionals saying close our and stepping me of thank delivering for and in well the firm. And this has there presented Okay. let-up no all continued advice, thanks for passion by very to remotely, let challenges you crisis confidence support for by you health up all been the around clients. of Thanks But on even to worldwide call economic on Stay the to and services products your best much. our our our everyone. this and

Operator

and you. this concludes Ladies gentlemen, teleconference. Thank today's

You may disconnect. now

Information Services (III) 9 Nov 202020 Q3 Earnings call transcript