To start with, I guess it's helpful to have a little bit of context because I know you founded a business that was then acquired by your current employer. It would be helpful to know a little bit of the scale, the kind of clients you work with, and how large they are roughly.

In terms of how that plays out for implementation, it's a much easier job these days to implement than it used to be 12 to 15 years ago. It's much easier on the basis that Workday itself is a much better product. When it first came out, it was hugely U.S.-centric. Some of the earlier implementations I did in EMEA for large enterprises were very difficult because fundamentally, some of the concepts just don't translate. You would go into certain countries in Europe and it just wouldn't work. You just don't see that now. That just doesn't happen, specifically on the HCM side. There are almost no use cases that Workday can't handle in pretty much any country. You rarely see that Workday can't do something.

To start with, I guess it's helpful to have a little bit of context because I know you founded a business that was then acquired by your current employer. It would be helpful to know a little bit of the scale, the kind of clients you work with, and how large they are roughly.

From that perspective, it's much easier. However, the economics are much more difficult: 10 to 12 years ago, it was an open checkbook to deliver this sort of thing. In my experience, it was helped by the fact that it was large enterprise customers. Money wasn't no object, but it was secondary to getting the right outcome and a good employee experience. Nowadays, the economics are much tougher. There's an expectation that stuff is delivered much more cheaply, that it's delivered on a fixed price basis. Gone are the days where customers are happy to pay you thousands of pounds a day to just sit on customer side without any output-based billing. Everything now is built on milestones and built on output. How much time you spend doing that is your prerogative and largely your problem as a consultancy. Much more is outcome-based. We are seeing, as we move down into the medium enterprise and even the SMB space that Workday is getting into now—what they term emerging enterprise—that the cost pressures from an implementation perspective are even higher. You are competing sometimes with providers who will implement it for free. When you get into the SMB space and you're targeting organizations of 500 people, there will be competition who will in theory implement it for free. So the economics of that and the pressures—well, it ends up that the customer has to do it themselves. But in the marketing and the sales, they don't quite explain that.