Tien-Tsin Huang

are you seeing any correlation? Or are you tracking this -- how these models and how they're improving and their capabilities improving and how that might impact your bookings growth

how would you characterize the mix of advanced AI work between growth or revenue-generating use cases against the efficiency-led use cases?

we've noticed a bit of a shift in how people view the consulting industry's role in AI. Do you agree with this, Julie? And if so, why now?

how might these partnerships on the AI front be different than other tech ecosystems partnerships in terms of think about time and productivity

Do you see potential deflationary effects? How might that impact Accenture services, both positively and negatively?

love to hear your thoughts on visibility compared to the last couple of years, given the backlog, which is quite big

I'm just curious if it's -- this heightened uncertainty is translating at all in any way and how you're you're guiding

I want to ask about the leadership changes in account retention, if that's okay, voluntary and involuntary

is there a way to frame the real revenue at risk? I know mission-critical is, maybe hard to define it here

I want to ask on the margin outlook and the change there. How much of that is organic versus inorganic

given some of the change in administration and the discussion around efficiency, have your expectations? Or are you going to change your strategy here on the U.S. federal government side

So I'm curious what you [attribute] (ph) this new pattern to and if market conditions are maybe improving underneath here

Can we go through quickly the attribution of what's driving the change the outlook? It seems like it's higher balances, some improvement in retention

any change in competitive intensity? I know there's a lot of focus here on some of the starts and maybe some of the more AI native or digital native companies

I am just curious if you are doing anything differently to spur growth versus plan at the beginning of the year

Q3 to Q4, any callouts in terms of step function change, and have you changed your investment approach given the higher float

could this alter some of the -- maybe the targets that you're expecting from the partnership, given they're going through some restructuring there

thinking about WSEs and how that's tracking and your benchmarking versus your peers, how would you sort of rate your performance there

is the 10 to 30 basis points, assuming more on the voluntary versus involuntary attrition

Just the confidence in overall bookings accelerating in fiscal '26. Just how much is driven by head count investments that you put into place versus higher sell-through

ES, it decelerated a couple of points and is running below the full-year range. I know you reiterated for the full-year

can you roughly size that for us? And I'm curious, can that be extended or pushed into other parts of the region

Feels like an endorsement of the ADP's model. I don't know, do you see that as a trend

do you see timely deal awards in the second half? And I don't know if I heard this, but are deal sizes getting larger in general

is cross-sell an important consideration and decision to bring the asset in

Any surprises or change in visibility across all of your markets, any change in decision-making

What should we be asking you? Or what are you trying to track to gauge success

what capabilities or TAM characteristics are you looking to acquire?

Do you have the backlog to support this growth, or is there more business to go get?

Is there a way to think about that impacted to '26 and just some broader comments on incremental margins

Just thinking about the segments and the growth and how growth might be different than what we saw in '25 at a high level, any interesting call-outs there?

does it feel tougher to sort of regenerate some of the sales performance that you've seen?

If you achieve your target EV, it sounds like you have some target EV around the $1.5 billion. Just thinking about the earnings impact

I'm just curious on the visibility there and what could turn out differently than what you're forecasting either on the upside or the downside

Just give us a little bit more on your confidence level in getting this 2 to 3 points of incremental revenue growth out of the agreement

is this a financial investment or a strategic one? I mean it could be both. You have a call option

on Gringo, interesting deal triples your TAM, as you said. What more can you tell us about the financial profile of this business?

you're looking for a nice acceleration in Vehicle Payments to the high-single-digits from the mid-single-digits in 2024. So what's driving that?

Just want to ask on Project LEAP, if that's okay, just the offensive or defensive nature of it?

I want to ask your confidence and your ability to grow off of that larger base in '26 over '25. How does the pipeline look for larger deals in '26?

The confidence in the faster sequential growth beyond the first quarter being higher than the pattern in the last couple of years

I wanted to ask on the revenue per employee. It looked like up 8%, operating income also better than that, up 10%. So just understanding the lift there and if it's sustainable

Just thinking about near-term gross margin performance potentially given the expected deal ramps and the mega deals and what have you

I think I heard a pretty balanced mix of renewals and new deals. So I just wanted to clarify that

Any considerations for gross margin as we look to the second half of the year

just with the utilization moving up a little bit, just testing the productivity as well as the headcount question

I'm just curious if there's any shift in the quality of bookings or growth projects being replaced by cost-cutting projects

Can you expand on what that means for Cognizant in general, if that is a new theme that you see emerging?

how would you characterize just overall budget and client decision-making with all this news flow that's happening?

digital assets and deposit tokens, things like that. Any interest in investing more there

Do you have pretty good visibility or line of sight into being on the right side of the larger deals here

if you're hearing any potential change in client decision-making given whether it be the macro or all this talk about stablecoin and AI

I think Stephanie talked about timely conversions under the 3 delayed deals did go live, it sounds like you're not hearing any decline decision delays

any updated thoughts on Capital One, Discover that's moving a little bit more forward

Is there an impact on -- specifically within banking, is there an impact on EBITDA margin that we can expect

Just on the ACV question, it was up 9% in '24. Stephanie, what are you thinking for '25?

I wanted to ask just on maybe visibility on the Banking side and retention given some of the bank conversions that you're doing. Just any surprise there?

I think, Mike, you mentioned that some of it was on Fiserv. Can you elaborate on that and what you're doing to address it

I had to ask a parting question for Frank because I'd love to hear your thoughts on the Global Payments FIS asset swap and how they're unbundling merchant

what surprised you about Fiserv as you did your diligence to join the company, what was different from maybe what you thought

Would you encourage us to focus on performance across the enterprise, integrated and the SMB channel? Is that the best place for us to study the business?

Is it coming more from net new versus converting existing customers? Just wanted to clarify that

on the outlook on Global Payments overall in terms of dispositions, and I know some Asia subscale geographies were addressed. Is there still more to go there?

The one comment that stood out to me, I think it was from Bob talking about the acquired orchestration layer. I'm curious how important that is

is the Asia wind down the inverse, meaning you'll maybe give back some of the joint ventures to the banks?

on the operational transformation, up $100 million. I'm curious, does that change also raise the -- or maybe change the timing of savings recognitions in '25 and '26?

give us a little bit more detail on volumes or any surprises with respect to actual activity or actual demand

Any updated callouts on timing and impact on let's say, the KPIs from all these conversions and renewals. In '26

Are these the recent build projects, are they moving the needle in VASS in the near term from your perspective? And on the buy side, there were some press reports about Mastercard's interest in cry...

any update on performance of Recorded Future? Any surprises there half a year end

on the upside in the quarter on revenue. It sounds like it came from FX volatility and strength in value-added services

I just want to dig into the operating expenses and the cadence there

I think the whole One Click payments initiative to get rid of manual card entry in Europe

How AI-proof is the advisory side of the business? You know, because I get the question quite a bit that, you know, can rules-based advice from AI come in and supplant what Paychex, Inc. does on th...

does this get monetized through your normal way—pricing that you typically would put through in the spring—or do you think of this as a new monetizable opportunity for Paychex, Inc.?

Is the insurance rate a bigger selling point here? I'm just trying to understand it

given the smaller deal size commentary you just shared there, any consideration or thought to changing your pricing and packaging of bundles?

Just on the clarification, what's driving the EPS increase of, I think, 50 bps on either end? And then just with retention, any callouts there?

just now that you've owned the asset and the cost synergies that you're talking about here, where was that last little bit of cost synergy coming from?

Just want to clarify the impact of the sales disruption and then the comments on the higher bankruptcy and the mergers on the very low end. It sounded like those relatively small and perhaps you wo...

Has your thinking around sales headcount, investment changed at all? Whether it's in the aggregate or across the different subunits?

it feels like the productivity in general better than you expected. Is there anything here beyond AI that you're getting more productivity here at before thinking about Paycor

Does that -- given that that's at risk and that safe only, does that inform your thinking on SMB, employee health and demand in general

would you expect some of the new products you're showcasing to impact unit growth more or was it more about upselling and higher revenue per

I want to ask about modernizing the tech platform and becoming a tech company again. Does this include platform consolidation

Has agentic commerce changed PayPal Holdings, Inc.'s strategic priorities in any way? What's your right to win? Can you fully fund investments here without sacrificing your incremental margins?

is the macro, the geopolitical stuff that's going on in the world, is that changing enough for you to reorder some of your priorities

Can you just -- I know you'll talk a lot about it on February 25, but is it more about user growth, new products or ARPU from existing products expanding

What were the biggest factors that drove the upside in the quarter? And how does that change your second half outlook exactly?

how much have you invested in both of these assets from a tech perspective

thinking about growth and OpEx being in line with revenue, I'm curious if there's anything to share on that

I'm just curious if that's changing at all given -- I know, Ryan, you talked a lot about AI and stablecoin

beyond volumes, I wanted to ask if you've seen any noticeable change in tone on client decision-making pipelines

with Asia-Pac, it looks like that's the only laggard again as a region, otherwise growth was really good

I just wanted to get a postmortem maybe of the reorg so far. I'd love to get your thoughts

I'd love to just hear a little bit more on why now? We're just, what, 3 months removed from Investor Day. So why are you ready to make this change now?

can you just give us a progress report on that now? When might we see an inflection in network growth

are you more bullish in certain areas versus what we last talked about? And where might you be a little bit more cautious

can you just give us a little more on how you develop this view given what's happening on the ground, talking to customers

what proof points are you focused on to gauge progress on execution in 2025?