Name: Leveraging Total Spend Management to Mitigate the Impact of National Insurance Increases in the UK
Uploaded: 2025-06-10T10:01:11.046Z
Duration: 42 min 12 s
Description: Leveraging Total Spend Management to Mitigate the Impact of National Insurance Increases in the UK

Transcript for "Leveraging Total Spend Management to Mitigate the Impact of National Insurance Increases in the UK": Three seconds. Okay. Welcome. Welcome, everybody. Thank you very much for joining. We're gonna give everyone time to join. So grab a coffee, grab a tea, and then we're gonna get started in around thirty seconds to a minute or so. But thank you very much for taking time out of your day and joining us. We've got a a big lineup for you for the next forty five minutes. Welcome. Welcome to everybody that's joining us. Yeah. Again, thank you for joining. We're gonna give it until one minute past just to make sure nobody's got any technology difficulties and give people chance to to come on. Okay. We're at one minute past. So, again, thank you for joining. Our today's webinar is leveraging total spend management to mitigate the impact of national insurance increases in The UK. All lines have been muted just to ensure call quality, and, obviously, we have a q and a feature. If you need to ask any questions, we'd be more than happy to answer them. We've got a great panel today, and we'll take some time towards the end of the session if we have them as well. So today's panelists, you have myself. My name is Lisa Brookman. I lead our solution advisory practice here at North EMEA, at Coupa, and I'm really happy to be, joined by Anna Bishnikov as well. Anna's a partner at PwC, and Anna, I'll let you introduce yourself. Thanks, Lisa. Yes. So I specialize in helping employers with domestic and international employment tax and pay governance matters. So I would say the increase in national insurance has definitely been our bread and butter, with our clients for the past few months. So happy to be joining you today to talk about it. Perfect. Thank you. And we also have Dan Cameron joining us from PwC. Dan, over to you. Hi, Lisa. Thank you, and good morning, everyone. Lovely to be here. So Dan Cameron, part of our, procurement supply chain practice here in The UK and also lead our digital procurement capability and spend many days, weeks, and months, and years even working with Coupa. So delighted to be here talking today. And then and then we have Rob Turner as well, chief procurement officer from Deliveroo. Rob, would you like to introduce yourself? Yeah. Thank you, Lisa. Good morning, everyone. So, yes, Robert and I lead procurement supply chain at Deliveroo, and, have been here for about the last two and a half years, transforming our broader procurement supply chain capability, with many years, working through leading, different procurement organizations and a time customer of of, of Coupa as well. Brilliant. Thank you all for joining today. I'm excited for this session. We've we've got quite a a packed agenda. We've we've covered introductions, obviously. Then I'm gonna hand over to Anna so we can understand the impact of National Insurance increases on organizational costs. We're then gonna jump it back in with myself, looking at how to utilize total spend management, in in order to mitigate increases in cost. And we'll look at strategies for optimizing procurement processes and leveraging AI technology and how data analytics can can help with that. And then finally, we're then gonna hand over to Dan and Rob to undertake a panel towards the end of the session. So with this, I'm gonna hand over to Anna to discuss the impact of National Assurance. So let me okay. Thanks, Dan, and we'll drop off. Thanks, Lisa. So thank you very much, everyone. I wanted to give you a bit of a summary of the changes that took place to Employer National Insurance from April, which have significantly increased employer costs together with, of course, the increase in national living wage that took place actually at the same sort of time, and these two things have an impact on each other. There were two things that were announced from a national insurance perspective. Firstly, there was a 1.2% increase in the, percentage rate that of employer national insurance, and that took it from 13.8% to 15%. The change is that there was a reduction in the threshold at which employers pay national insurance, which reduced from, on an annualized basis, £9,100 to £5,000. Now while many people focus on the percentage increase, it's actually the threshold reduction, which has added the most costs to organizations. So just to give you an idea, this threshold change alone has resulted in an additional cost for the employer of £615 per employee. I mentioned at the beginning the national living wage increases as well because that has an impact. So just to again give you a bit of a sense of numbers and the sort of impact that this will have, if we look at a worker on an average salary in The UK, the change in national insurance means that there will be a 2% increase in employment costs for the employer for that worker, which is wholly linked to the increase in national insurance contributions. If we then look at, for example, a full time worker on national living wage, there's actually been a 10% increase in employment costs, and that comes from a combination of that increase in gross pay, relating to the national living wage along with those national insurance increases that we talked about. Then we look at, say, a part time worker on the national living wage. And for that individual, there will be a six sorry, a 14% increase in costs. So and that's roughly split fifty fifty between that sort of pay increase coming from the national living wage and the national insurance increase. So as you can imagine, sort of based on those figures, the employers who are most impacted by the changes are those that have larger workforces and those with those part time workers. So we talked about those part time workers on, national living wage having that 14% increase in costs. You will have therefore seen some of the supermarkets talking about the impact that these changes will have on them, and they've sort of cited numbers of over 100,000,000 for those sort of large players in the market. You will have obviously also seen some hospitality organizations talking about the impact that this will have on them, and they talk about it in those sort tens of millions. But really, the last few months for organizations and since the announcement came out in the autumn statement has been really focused on actually understanding those numbers. Where are they coming from for your business? What are they likely to be? And then employers have pivoted to what are we actually going to do about it. And they're really looking at what are the different levers that we can pull to address some of these cost increases. And now based on my experience of working with organizations over the past few months, there's not going to be one single lever that organizations are looking at. Rather, they're looking at a combination of levers to try and address some of this cost. And I'll group these into sort of three key areas. The one is, can we pass on these cost increases to customers? Now that will obviously depend on the market, depends on your competition, depends on who your customers actually are, etcetera. What organizations are looking at, can we pass on some of that cost? The key area that organizations are looking at is, can we reduce our margin or our profits and, in effect, absorb some of these additional costs within that? Now, obviously, that will only be a potential for you if you have got a profit or margin that you can erode in some shape, way, or form. And as I say, most organizations are using this as a combination into other things. And the last one, and obviously the focus of today's session, is actually how do we think about reducing cost, and that is reducing cost across the organization in many different ways in order to help manage some of these costs and mitigate them. And this is where I will hand over to Lisa to talk about the key points for today's session. Thanks ever so much, Anna. That was really insightful. I'm gonna just quickly share my screen again. And we're gonna jump into, you know, ultimately, how source to pay can help you mitigate those costs. So and what we what we're seeing at the moment is the macroeconomic volatility, such as the national insurance increases in payroll costs for all businesses, you know, specifically with an impact on those with large payrolls and a narrow profit margins, and then also those in lower pay sectors like care, retail, and hospitality. And what we're also seeing in the market is the other convergent force, which is, the AI revolution that is fundamentally reshaping business and management and how business gets done. Now that demands more than a digital transformation. It demands workforce transformation, redefining how roles, how decisions are made, you know, how value is created across the enterprise. And when you change the way work gets done, you change how your p and l performs, and this is what we mean by p and l transformation. So not just cost control or efficiency gains, but durable strategic value creation at scale. So it's very much not just adapting, but it is really a time for reinvention. Now let me explain. So you a lot of you joining this webinar will be very familiar with that Source two Pay process that I'm showing on screen at the moment. Now a number of leaders I've had the privilege to work with are transforming their workforce and the p and l with a source to pay, but laying AI over the top of that. So in and these quantifiable business outcomes impact every key stakeholder in the organization. But we recognize that not all companies are in the same place on the source to pay maturity curve. And before we go on that journey with AI, in order to optimize procurement processes and drive cost savings, we need to ensure a mix of strategic planning, operational efficiency, and supply collaboration, and technology adoption. And, really, the step on this journey is about ensuring that you have complete spend visibility. And without being able to see all of your spend, it's very difficult to control it. So by seeing a comprehensive picture of spending, businesses can identify areas where spending is out of control and not aligned with that budgetary goal that you'll certainly have. Now once we have complete spend visibility, the next step really is implementing that source to pay process, which provides benefits from improved compliance with with intake, but also, you know, greater savings by strategic sourcing, reduce risks with compliance to contract terms, improving their supplier relationships, and reducing risk in your supply chain, along with improving efficiency and enhanced time match rates within the purchase to pay cycle, and then that provide that predictable cash flow. And there are many more benefits, you know, to be discussed within this, which we're happy to take offline. But once, typically, we've we've created that foundational layer of data and processes, it's at that point then you can lay AI over the top. And that's where leaders aren't just experimenting with AI anymore. They're actually operationalizing it now and transforming their workforce and their p and l. Now according to Boston Consultant Group, AI and Gen AI are streamlining procurement, so they're doubling process speeds and can automate up to 75% of procurement tasks. Now ultimately freeing up buyers to focus on strategic decisions, And then AI halves the risk along the entire supply chain, for all suppliers. So things like detecting, missing supply information immediately and taking that manual work away from your teams. And then AI driven procurement obviously can, you know, free up workers from repetitive tasks and allow them to reskill in other areas as well. So that being all said, what sort of financial impact can a source to pay and and process with AI actually unlock? So, ultimately, it trans translates into real p and l savings and lock in actually an estimated 18 to 27,000,000 in cash per 1,000,000,000 in spend. That's a huge amount of money. But, yeah, how do they unlock this? Okay. So we can look at various different, pillars if you like. So incremental category savings now directly contributes to margin expansion. AI capabilities, such as AI agents, can improve category strategies leading to savings not previously identified. And by bringing together additional insights on market data and internal information, but we can also look at optimizing negotiations by performing, like, the shared cost analysis and by bringing additional competitors and challenges and by identifying key negotiation levers in that same category. We can also look to uncover tail spend opportunities by suggesting consolidation across regions and across categories with suppliers that provide multiple goods and services, and then also suggest suppliers or materials and create impact scenarios based on cost and delivery performance. Now along with this, we can provide routine purchase price variance, analysis, which detects outliers in pricing across similar items or services, and and that impact is typically around, you know, 16 to 20,000,000 in 1,000,000,000 of spend. And the pillar that we can look at as well is reducing that value leakage. So AI can also help prevent value leakage during the contract life cycle by now identifying clauses that lead to overspending, ensuring contract terms are met in terms of unit price and delivery performance. I mean, look can look at predicting stock positions and communicating automatically to the supplier for replenishment. And the the five to 12% cost recovery is accomplished through elimination of process inefficiencies and contract noncompliance. So results in an annual potential impact of that 1 to 3,000,000 per 1,000,000,000 in spend. And then finally, our last pillar as well is where we look at that capital and workforce efficiency. So companies can reduce processing time by 30 to 50% with the help of AI. And that's the time that that, you know, your workforce can save in process process related tasks, which will be reinvested into other activities, which are more human centric, such as, you know, building those stronger partnerships with customers and suppliers. And as the overall effort to run the company operations declines, you know, your workforce can orient themselves into activities which deliver innovation and value in order to help that renovate, revenue growth. You know? And this, you know, results in a annual potential impact of, you know, two to four million in in 1,000,000,000 in spend. But, ultimately, it's not just taking our word for that, although more than help, happy to go through these numbers with you based on your your own company. But it's also, you know, taking our customer's word for it as well. And have been working very luckily with with a number of our customers. So Uber, for example, we've all used Uber in the past, I'm sure. They leveraged actually Coupa to identify supplier sourcing opportunities and analyze their data. So the results has been over 24,600,000 in sourcing efficiencies. And and what they actually went on to achieve on top of that was actually 100% of their spend was preapproved. They had complete visibility and complete control. The ordering process was five days or less encouraging now those higher adoption rates. And then, actually, 40% was actually hands free purchase requisitioning. So Andre Cassella, the director of P2P at Uber, is actually quoted saying scale is is able to absorb higher volumes while remaining headcount neutral. And in this environment, it's really important. And reducing those transactional costs and maintaining necessary controls. And they were you know, she quoted today, we are at a very healthy level of automation with ever increasing value at ever decreasing costs. And then MITEI, for example, UK, operations been very fortunate to work with over the years. They actually streamlined their operations with Coupa, saving 17,000,000 to reinvest in facilities transformation business. So they had a reliance, actually, when we were talking to them about manual procure to pay systems, such as paper based invoice and and email based requisitions. And that left actually MIT's AP and procurement teams with a time consuming administration burden. And then actually, as an acquisition, that brought together two very large supply chains, which required a more standardized approach in order to manage supplies and mitigating costs. So you see how much they actually saved in order to reinvest there. I think, the likes of Molina Healthcare as well, so they accommodated up to a 420% invoice growth while only increasing staff by 10% using Coupa. So we have a pharmaceutical customer in The UK. Very, very similar story we're hearing. And then finally, but certainly not least, is the American Red Cross. So we actually helped realize a 35 in percent increase in spend with diverse suppliers to them and a self funded business process transformation. So with those that being said, what I'm now gonna do is invite invite both of our panelists to the stage. So I'm gonna invite Dan and Rob now to join me. And, I'm gonna ask them to to take over and talk about their real experiences out in the field. Brilliant. Thank you, Lisa. Great insights. And, Rob, this was like the latest in a series of our chats on webinars over the last few months. Always great to be back, having a conversation with you. I thought, really interesting to perhaps dig into a couple of the themes that Anna and Lisa talked about and then put it in the kind of real world context of delivery, if that's okay. So, I mean, I guess from Anna's comments, really interesting the impact that's that's happened across the economy. And what struck me was, you know but you might either feel it directly as an organization because of your workforce, but perhaps more pertinent for this conversation is indirectly we might see it. So maybe we'll just touch on that in a And and also the the comment around, it it's not felt perhaps equally across the economy. There are different sectors, categories, areas of the supply chain and and organizations that are gonna feel this more acutely than others. So something we'll perhaps touch on. And then and then just picking up on Lisa's themes, you know, clearly, things are not getting any less digitized in the future. Things are gonna get more and more automated digital in in the future world. I know you're going through a big, digital transformation at the minute, hopefully, towards the end of it now, although these things never stop, I'm sure. And so I'd love to kind of understand a little bit about where you're using some of these tools, whether it's around just getting visibility, transparency, thinking about using kind of strategic sourcing levers, or or, dare I say, kind of exploring with AI. So maybe those are some of the themes we can we can talk about, Rob. But but but maybe let's let's start at the top. Yeah. National Insurance, you've got quite an interesting demographic of, workforce, riders, suppliers in the deliveries world. So so how's National Insurance impact been affecting Deliveroo at a kind of headline level? Well, clearly does in terms of our permanent, employees. We're heavily, UK centric, business in terms of business leadership and and administration of business with those smallest sub regional offices in, in in other countries, but, predominantly, majority of our, workforce are centered here in The UK. So I think the it it clearly does impact, and especially as we continue to drive year on year to to improve our our profit position. And certainly in the last year that we've turned into a into into full profit position. And so there's there it's another layer of, of of of cost that that we have to take into consideration when we're when we're doing our planning, but enough notice that we can build our plans around around that and stretch ourselves both in terms of what we might be doing in terms of helping to manage our operating cost base, but also in terms of the way the wider business thinks about, how it's working, you know, commercially with with customers and and and and margin maintenance. For for riders, then, you know, that is predominantly, they're they're they're self employed and and and and, you know, have clarify through through, recent case law. And and then and then and and the only places that we do anything slightly differently are are unreleased where we, where we use agent agencies to to manage that. So so it's not as it's not as big. It's it's it's there. It it it hits alongside many other inflationary factors. But, you know, we're a tech company, and and we've got SaaS providers, that are constantly looking to put double digit inflationary costs in. So in some in some respects, the, you know, 22% on a on on on labor costs is better than significant compared to some of the other inflationary factors that come through. Very good. Okay. So so, mate, that's a good kind of segue to that supply chain, your supplier base, which which clearly you're responsible for, Rob. So so have you been seeing this specifically, this National Insurance conversation kinda enter into the the negotiation or the contract renewals or new, agreements with suppliers, or is it or is it not come through yet? Is that is that something that, again, explicitly has been called out by suppliers? I'm just thinking about Anna's comments in terms of how organizations are dealing with it. Are are those b to b organizations trying to pass it on to, Deliveroo? I think at the moment, it's a little bit early to see. So so part of the program so we're running a a a kinda twin track program here, at Deliveroo. One one is around effectively managing our and and right right right sizing, right right costing our our OpEx cost base, and the other is, is around digital transformation. So so there's two things. And the and the and that cost program cost management program has, has been, you know, pretty substantial over the last year or so. And and so we have, in in in effect, taken a lot of our spend out to market. A very significant portion of our spend has gone out to market. It was in a position to do so based on legacy positions we were in, you know, and and negotiated quite hard and locked. And so I think for the moment, we're we're seeing an amount of protection as a result of of the work that we've done up to this point. We still have some other, spend that's out in market and continues to do so. But I suspect that we will potentially be holding up a bit of a a bit of a a a a an impact that that may come a little bit later down the line. And I guess that all depends on how sustainable this current position is from a from a government position and and and whether that's likely to change in the same way that we We don't wanna jump too quickly on things like tariffs and make too too, too dramatic, decisions on things like that and move up and down. We've only just seen, you know, changes again, you know, in the last twenty four hours on on on, energy allowances, energy cost allowances. So so I don't know whether something like this end may end up being reversed again. That's what I don't know. So, like, we wait, and view, and and get our ourselves, ready and and start thinking into the future about what our scenario plan might be in case it does start to come through at some point in the future. Very good. I thought you're gonna drag me into a political debate then, Rob. So I'm I'm No. No. No. No. I'm gonna let's just just a just a statement of of where we are and how volatile these decisions seem to be at the minute. Exactly. Well well, let's let's move on. So so Lisa talked very eloquently about the the kind of the kind of benefits and some of the facets of digital transformation and how they help both in terms of kind of the understanding of your spend base and landscape and the granularity, but then also some tools that help you really go and prosecute the the kind of activities and the the cost out or or the reduction cost reduction, objectives you got. So, Tameh, I know you're I think you're you're fully live now, aren't you, with Coupa? So perhaps you can share with it a little bit in terms of some of the the kind of added kind of horsepower or capability you've now got within your team that allows you to do some some cool new stuff. And then then maybe after that, we'll we'll we'll touch on AI, but maybe talk talk about some of the things you've been doing with the technology. Yeah. Certainly. So so there's a number of different things have been number of different things we've been doing. And, certainly, the the it it if you think about the way we've designed, what we've done, it's been a it's been a, you know, a a a fairly holistic transformation that is that has included our process and governance, our our procurement policy set, etcetera. So, you know, at the very outset, using, you know, technology to drive, our business in through a sort of front door and triage. So so examining the requirement at the very at the very in the very instance is one thing, and making sure that we're really clear on on on what we're doing in the business. So the question is do we do we need to spend it in the place or not, especially if it's new? if we think about the, the ability to get our data already, in comparison to, how hard it was to to view spend data. So, you know, an example conversation at the moment is just that we got a plethora of GL codes because we just created GL codes so that we could do budget so we could do budget tracking because you couldn't access spend data very well previously. So so the ability to see that and our and and that lining up as well with, much better data already on on on where our contracts are and what what we've got, what's coming up. So so just basic, basic control around, spend spend data and contractual position. And then and then, in terms of, you know, why these technology, we've also deployed, Coupa's, CSO module, the the sourcing optimization module, which, you know, on a couple of complex projects, and and, and and and the power of that is already showing substantially enhanced returns versus traditional, you know, more more man what what I I let less scenario managed, slightly lower powered analytics in in in sourcing events. So that that is definitely, showing, you know, a higher multiple return than than more traditional. And then and then in that kind of pipeline, we've got one or two things that also, we're we're starting to think through and work on. We've got proof of concept around, AI driven, software asset management. So we understand our estate veteran can make better decisions on our estate. That is that is in progress, now to link directly into Coupa and Enable. So so lots of different things in terms of the base, spend management platform and what that does, additional module kind of capability and the power that brings from the scenario analysis and and the the way we take that to market, and then a pipeline of further digital development that links in that enables sort of efficiency and data and analytics, and as well. So so kind of the three different angles of of of thought there about how how we're managing that. Fantastic. I mean, it sounds great. I've been lucky enough to work with you on some of this stuff, Robin. It's it's really it's really great to see the technology bearing real fruit and and proving real value. So it's absolutely fantastic. I'm just I I'm I'm sort of sitting here. I'm almost taking off my PwC hat and thinking about when I used to be a a kind of a procurement guy in the field as well. And just thinking about that extra level of granularity, you talked about tariffs, we're obviously talking about National Insurance today. I'm just thinking about the the ability to perhaps capture information about the vulnerability or the exposure, different categories or different GL codes as you called out, different suppliers might have to some of these things that are outside our control, whether they be macroeconomic things, political aspects, geopolitical dimensions. Do do you see perhaps and, again, we've probably probably got slightly off script here, but I think, you know, do do you see AI and Yeah. I don't know. I think I think that would be great. Being able to kinda help, I don't wanna say necessarily predict, but give us real agility and and and super granularity to be able to move really fast when we need to. Is that something you you see in the future, we have to capture that all that information to be able to be really on the front foot? Yes. Yeah. Yeah. So so we we run our, you know, pretty like most people, a pretty tight ship on on resources here. So we we we can't, we can't start thinking about, you know, just layering in, more and more human capability to take our cost base up. Right? So so we're looking at all sorts of different solutions to, provide in intelligence and and and, sort of in insight, and then that ability, I think, then to be able to to track how how, how economics and and and supply condition is is is changing over time. And so we have got that absolutely on the radar as, as as as as AI driven, both in terms of kind of qualification of a supplier in the instance, you know, rapid turnaround off to enable more rapid, contracting, particularly as we're we're perhaps we wanna experiment with with AI so that, you know, these things turn fast. So let's say so so that at the at the kind of onboarding stage. But then in the ongoing monitoring and, you know, constant it it's just ticking over in the background and run by by, by by a technology solution, and there are a number out there that we're looking at. So feeding that back into dashboards is is is where where we're we're looking to go with that, be because it it just takes another bit of pressure off, off an individual's mind, a category man's mind in in terms of thinking about the long term, you know, what they should be monitoring. Otherwise, it it traditionally, what we do is just layer more and more and more and more things into people, and and and and you end up getting something that something has dropped. But but but we're seeing real smart solutions, you know, being developed now. And and the nice thing about these, whereas, you know, a few years back, they all this stuff would be stand alone and you'd have to think about, well, how do how do I integrate that, or how do I keep that live? The the the kind of platform solutions are now, like, Deepgram, are now are now building native integration into some of these, applicate some of these other applications as well and and suppliers and and and services so that you can draw all that data in, and it will be sat there on a in a category strategy or scorecard or or what have you say. Yeah. Absolutely. We are looking at that. Yeah. I think it's it's interesting. I think one of the criticisms is often leveled at procurement over the years is is very rear view mirror looking, sort of history looking, and I think the ability to flip that to be sort of of the present day, real time, and even sort of future looking is is definitely where we need to go as a profession to sort of, you know, climb climb that food chain. Perhaps final question from me, Rob, and then I'm sure we'd be delighted if others want to ask questions. We can invite the, other speakers to come join us as well. But so so, you know, there's a lot going on, you know, whether it's National Insurance, tariffs, other things that are impinging on our our procurement world supplier ecosystem. And it takes it takes time, doesn't it, to build a supply chain, whether it's a physical supply chain or an indirect sort of service supply chain that you can really trust and rely on and build that, you know, both human and, contractual relationships with. So just as you think about, you know, how you respond and perhaps advice for for people on the call, what what's your sort of, yeah, sentiment as to how people should respond to these, things that come out of left field or things that are planned that are gonna cause consequence to your business? Is it something you need to react overnight, or is it something that needs a bit more more planning? It's a good question. I think I think I don't I don't I don't think it really I don't think there's a singular one size fits all answer to that. I think you gotta look at around at how rapidly some of those decisions are being made, and and how quickly they're being, you know, implemented. Are are they reactionary things that are going on versus are they long term structural changes that are that are happening? And and and and therefore, you prioritize and make your plans accordingly. I would say, in the instance, unless unless, unless it really is gonna hit you pretty hard, then then don't react too quickly. Take time to take a little bit of time to to think about it. But where you know, we we've got to think about how things are changing across the globe, as a as a lot of peep as a lot of organizations do. We were talking earlier, Dan, around, you know, you might think about 2%. And if we if we think about, you know, business process outsourcing, and how that's been a traditional, labor cost, arbitrage exercise for many years and the way automation is now driving that. You you really think about hang on a minute, but we might we might be thinking about trying to offset 2% here, but have we placed, historically, our our service centers in places that will be emerging economies sometime soon, and, actually, they are likely to see more hyperinflation than our 2%. So I think you gotta look at it, these things in the rounds, and, and and take a considered approach. Yeah. Makes sense. I think my my reflection on it is is a couple of things. So one is, you know, day data is king in this stuff to be able to have transparency, visibility, understand, you know, where where you are today, where you are vulnerable. I think also taking the time to understand the specific consequence or impact for your business. I think it's really interesting. Anna's points at the beginning around just that that single thing about National Insurance isn't felt equally. So if you were, dare I say, lazy and just consume that as a, you know, a face value, you might think it's one thing, but actually in your world or your supply chain, it has has much far reaching cons or much more acute consequences perhaps. And then the the is, you know, be on the front foot and and have a plan a and a plan b and a plan c, which to your point, you might not execute overnight, but you have in your back pocket ready to play with when you when you need to. So lots of things, I think, for for people to kinda take away and digest. As always, Rob, an absolute pleasure to to chew these topics over with you. I'm sure there'll be a another one in the series coming up at some point. We'll have to find out what that is. But, Lisa, back over to you. And I don't know if there are any other questions from the audience. No. But I've I've just thoroughly enjoyed listening to both of you. It's always great on a Tuesday morning, isn't it? But, no, all I want to say is thank you, to the three of you, you know, for your insight. It sounds as though the the procurement function over the next five years will evolve to be more technology driven and strategic and very much focused on sustainability and ethical practices, you know, with that increased emphasis on leveraging data for informed decision making. So now, it's been an absolute pleasure to to host you all. So thank you, Dan. Thank you, Rob. Thank you, Anna, for joining us today. Now if you're keen to find out more, then let me share our details with you. You can certainly, to our audience, reach out to the Coupa community. So if you wanna understand how to mitigate these costs, you know, the benefits of total spare management and how AI can improve efficiency, then you have our contact details here, and we would more than welcome the conversation, with all of you. That being said, you know, if you want to come and meet us in person, we will all be together, next week at our Coupa Inspire event on, Tuesday, June. So we would love to see you there. And then, obviously, we have a world tour and other dates on the screen as well. So if you scan the QR code, you'll have a link in order to join, and, we'll all be there. Looking forward to those conversations with you. Okay. And that yeah. We're nearly up on time, so give a a few minutes back to everybody. But, again, just a a massive thank you to our speakers today, and and thank you to the audience for joining. Thank you very much. Thanks, Lisa. Thank you.