Dominic Edmonds

However, taking something then to a blend of a base fee, which allows us to talk about servicing, allows us to talk about the implementation fees, the costs that go with it, and then applying a performance fee on top was our second iteration.

And now we've moved into a 100% flat fee model, which again matches with the same kind of fees people would have been paying us on average, but it smooths it out rather than making it choppy, I guess.

No, no.

So when I say flat fees, those flat fees means instead of a customer who may go through a period where they're in sale on their, let's say it's a fashion retailer and they're paying us $20,000 a month.

And when they're not in sale, they could be paying

effectively the equivalent of an average billing.

So a flat fee is between those, meaning that over the year, nobody loses out.

We do have variance because obviously we work in different sectors as well.

On average, though.

Yeah, on average, you'd be looking at a monthly MRR, which is technically what we live in.

We'd be talking around about $5,000 a month.

So I came out of agency.

So strictly speaking, we started in 2010, February 2010.

February 5th, actually, just passed our eighth birthday.

But I came out of an agency role where it was becoming clear to me that clients were approaching us to address abandonment issues on their side because they would list them as they had a high abandonment rate.

They didn't.

They had an average abandonment rate.

The challenge you faced, Mr. Klein, is the same challenge your competitors are facing.

And that really was a crystallization behind

Sales cycle could be a singular enterprise level product which can address this issue for a number of customers.