Good afternoon, everyone. Welcome to Efecte's Q1 2023 results webcast. My name is Lari Nikkanen. With me today are our CEO, Niilo Fredrikson, and our CPO, Santeri Jussila. Our COO, Steffan Schumacher, will be also joining the Q&A session following our presentation. During this results webcast, we encourage all participants and investors to review the disclaimer from our presentation materials. As for today's agenda, we have 1 full hour reserved for this webcast. We'll start with our CEO, Niilo, presenting our Q1 results. After the presentation, we will have the remaining time for our Q&A session. You may present your questions during the presentation by using the webcast portal's Q&A feature. We'll answer your questions at the end of the presentation. This session will be also recorded. A recording of the session will be made available on Efecte's investor website. With that, I'll hand over to Niilo. Awesome. Thank you, Lari. Hello, everyone. Great to be here. Great to be here to walk you through Efecte's Q1 earnings. It's the first quarter of the year 2023. As I'm sure you saw from the release, we started the year well. That said, before diving in to what we did in Q1, I wanted to ground us on where is Efecte as of today and where are we heading. What we do at Efecte is we help European mid-market organizations to digitalize and automate their work. We have a proven SaaS product, a service management platform known for its agility, great user experience, and compelling total cost of ownership. Our rolling 12-month revenues amount already to EUR 22 million, slightly above. We are running roughly operatively at break-even level because of the growth investments we've been making in recent times to secure the long-term growth for us to get to our vision. The SaaS revenues form already most part of our revenues, with the annual recurring SaaS revenue amounting already to EUR 16 million. It's a team of about 200 people as of today, out of which 40% are located outside Finland as a sign of our European ambitions and Efecte already becoming a real European business. The bold ambition that we've set ourselves, I can tell you this is a team with high ambitions, is that we want to build the clear European leader in service management software. We call this vision the European Alternative Vision. This industry, as most software product industries, is dominated by a few global large players. There is a need, and especially a need amongst the mid-market customers in Europe, for a strong European player who understand their specific needs. The addressable market is growing, even during these economically uncertain times. The analysts are on average estimating that our target market in Europe is growing at roughly 15% annual growth rate for the coming years. It's of course much better to be participating in a growth market, even though we also believe in our ability to take market share. How are we going to get to our vision and how does that translate into something quantifiable? We said that from the levels of 2021, we're going to double the business by 2025 to EUR 35 million or above and reach a double-digit EBITDA margin at the same time. Eventually, we do think that we need to, and we will, become a business with net sales over EUR 100 million, and that's required for us to be the clear European leader and also for having enough absolute size to be able to compete for the long term with these global goliaths. The good thing is that now after Q1, we are again several steps closer to this vision, both the midterm 2025 target as well as the eventual EUR 100 million target. Our strategy to get there is based on four cornerstones: growth, product, people, and mergers and acquisitions. That's the type of framework we use to run our business. I mean, obviously there are different KPIs and tactical level things we do, but I think of my job, and our leadership team thinks of our job, as guiding Efecte towards our vision, executing the strategy that we have set. That's the lenses through which I also wanted to start with when talking through Q1 results. When we look at the growth, of course, we need to be happy with the growth, especially in this market situation where customers are sending mixed signals, with some customers, you know, still buying a lot and wanting to drive digitalization and automation. There are also customers who are delaying or postponing or even canceling initiatives, even if it's for something like our software which in the end is there to improve productivity and save costs. Sometimes short-term concerns mount up, so that customers just decide to cut things. In this environment, we were able to grow our SaaS revenues year-over-year by 28%, and that's something I'm super proud about. At the same time, services growth was slightly slower, but still total net sales grew also 20%, which I consider also a strong result. A detail I do want to call out is that international growth accelerated. As you know, with our ambitions, it is paramount for us to be able to grow not just in Finland, that's important, but also grow outside Finland. We were able to win new customers in Spain, in Sweden, in Germany, during Q1 which I was very glad about. A few maybe as an additional comment, you remember that the ones who've been following us since last year, we set the Spain operation up very recently, essentially in the latter part of last year. Already now being able to win customers in a market like that is a promising sign to me. Product-wise, what times are we living through? I mean, for starters, of course, there have been fundamental big programs that we've been running in terms of modernizing Efecte user interfaces and bringing more interesting capabilities to the market. What I'm right now most excited about, and we commented on that also in the release, is the first GPT-powered features on the Efecte platform that we announced today. Actually later on this call, Santeri, our Chief Product Officer, will join me and give you a little bit more color on what did we announce and why. People and the culture of Efecte continue to be one of the foundations of our plan and our success. It's a team of 200 people now, and we've slowed down the recruiting. We haven't stopped it completely, but according to the plan we communicated already last year, we've slowed down the recruiting and that's also something that will then be towards the end of the year visible in the bottom line. Finally, on the M&A front, of course, very happy about the InteliWISE acquisition we did last year. We've been able to successfully integrate the team, and that team has been very helpful and in a critical role in being able to develop so fast the first GPT-enabled features on the Efecte platform. While InteliWISE was the first acquisition for us as a listed company, it's not going to be the last one. There are multiple interesting target companies we've been evaluating, having discussions with some. As always, we keep the bar high, and we are not going to pull the trigger on any transaction where we feel that it's not right, the right value for us and the shareholders and the customer. You know the bar is high, on the other hand, when the right type of target emerges, we are ready to move. How did we do against the guidance? I mean, the guidance obviously here is full year guidance, but we want to provide you here also like a quarterly view, even though the guidance specifically is for the full year. We started the year well on SaaS growth. Profitability-wise, I mean, if you look at the adjusted EBITDA, it was in line with our expectations, obviously below the guidance. The backstory there is that we do believe that the economies of scale will trigger in during this year as we continue grow, on the other hand, we increase headcount significantly slower than before and of course exercise good cost control as always. Towards the end of the year, we expect the profitability to improve. Some of the KPIs may be a few, I'll kind of highlight from here. I'll start with the churn on bottom right. As expected and communicated earlier, churn bumped up a little bit. I think, as I always say, that as long as we're in that 5% ballpark or below, we are fine. To me, that's a gold standard for our type of B2B SaaS business, no big concerns there. Of course, it reflects somewhat on the net retention rate, which was a few percentage points lower than last quarter, but overall strong level still and, also looking at the rest of the metrics, I have no big concerns. If you have any questions, happy to comment in more detail in the Q&A later on any of this. Where did that growth come from? What is visible here is that actually compared to historical average, a relatively large proportion of the growth came from new customers plus the InteliWISE acquisition. Traditionally, we've been very strong on the existing customer growth, the install base growth, but now in Q1, we were able to complement that also with good new customer traction. As mentioned, I was especially happy that good new customer traction, it wasn't limited to Finland, our home base, but we did see that almost across the whole board of our international markets. Looking at the financial performance and the profitability view. Well, I'll start with the adjusted EBITDA, the graph on the top right. In a way, obviously, direction one might say is wrong from positive to negative, but at the same time, it was planned. It is something according to our plan about which we've been communicating earlier. Now, of course, it is important that towards the end of the year, we will do what we expect, which is for that adjusted EBITDA to start to improve. I'm personally confident that we will be able to make that happen. Other than that, you know, no major kind of developments here. I mean, I really just keep an eye on how we get that adjusted EBITDA up towards the end of the year. Looking at the market update, well, I talked already about success in international markets. Another point worth calling out here is what we've been doing in the public sector, not just in Finland, but also some other places. Like, for example, during Q1, we won the public tender of the city of Helsingborg in Sweden. All of this is based on a decision we did last year where we looked at the market and realized that, all right, there is some uncertainty brewing. We did see some early signals in the private sector for demand possibly to slow down a little bit. We made a decision that let's double down on our already strong momentum in the public sector, and that has paid off, and that has worked out really well with many, many great public sector customers with whom we are working with every day. When I think going forward, like, what's gonna happen going forward, definitely we expect this relative uncertainty amongst the customer base, especially in the private sector, and maybe increasingly even in the public sector, to continue. That's for sure there. We take it as a base assumption that the market might slow down a little bit. With that assumption, we have been planning how to best navigate that market because there are always opportunities, even in a market like that. You saw that the total addressable market is still growing. For a player the size of Efecte, there is always opportunity. It's of course not easy, I'm not saying that, but there is opportunity and we are committed to finding the best path through that kind of an environment. That's why we reconfirmed our guidance for this year. And I think we have a good plan in place how we deliver that. With that, I think it's enough about the numbers. I'd like to invite now Santeri with me here in front of the camera to talk a little bit about what are the new GPT-powered features that we announced today. Santeri, welcome. Hey. Hi, Niilo. Thank you. How are you? Doing very good. It's exciting day. Absolutely. hey, can you give us a little bit of background? so first of all, you know, why did we kind of jump on this bandwagon and start to develop GPT-powered features and what is it really that our users are gonna be able to benefit from now going forward? Absolutely. As many of you have probably seen, there's a little bit of a buzz in the tech world around generative AI and these large language models. We've seen first real software applications obviously, adapting these, very much led by Microsoft, but also others. Not only that, we've seen that in our domain, in service management domain, the first players have now come out with the first features leveraging GPT and these language models. Today, I'm actually happy to share that we are among those first wave service management players globally to do the same. We are launching our first GPT-powered features to help our users. What are we doing here? Basically, our objective is to help the support agents' productivity. That they can have more conversations with the end users with less effort. This is enabled by what I like to call three magic buttons that we now introduce. Auto-generate, which allows the agent to automatically generate response for the end user question by leveraging the power of GPT. Autocorrect and Autocomplete that allows then the agent to automatically fix whatever text he or she is writing. Also whenever the agent starts writing something, the Autocomplete can kick in and actually finish the sentence for the agent. All of this kind of reduced time and effort to serve the end users in real life operation situation. This is what we are launching today. These are the first steps towards our vision of Effie AI, personal assistants that really know you, can help you work better to digitalize and automate your work even better in the future. We actually feel it's very important that we move fast here. We are applying these cutting-edge technologies, and we are part of these bigger ecosystems that are now forming in the, in the tech world. Like you said, the InteliWISE acquisition we did earlier actually positions us really well. With those competencies and technologies, we're actually able to move this fast in the domain as we are today. That's super exciting. I think you raised there multiple interesting points, both about kind of the benefits and features we're gonna able to be offer our users. Also in terms of how we as Efecte, as the European Alternative in our field can participate in some of these global ecosystems. Absolutely. ... which, you know, it's a world of competition and collaboration. Absolutely. I think it's great to see us move so fast on this one. One question though I'd have is how about the data privacy and security? I know that- Yeah. ... some speculation in the market. How does that play out in this world? Yeah, absolutely. It's a very, very important question. We're obviously taking that really very serious, we're actually looking at that from multiple angles. Just to give a few examples. First, kind of as a guiding principle, the agent is always on control, so we are not passing through anything without the agent explicitly- Mm-hmm. ... approving the responses and being able to check and modify them. Also, even if we are obviously passing here data and we are querying the OpenAI's language model, but we are not passing any sensitive user information. We are very particular about that. We use the commercial API, none of the querying we do will not go to training of other models. They will not be used in any other context than our context as well. Finally, even above and beyond that, we are also looking into and researching concept of a local model, which means that we could run all of this locally in an Efecte environment, which is obviously something very important as part of us being the European Alternative, that we really wanna explore that as well. That's exciting stuff, you know, all up. Feel very good about us being able to move that fast now in this domain. I'm sure we'll see very interesting developments in this space. I mean, even things that might amount to disruption in the market when people really understand the power of these models and how they can be applied to our specific domain. Of course, it's great for us to be at the forefront of that. Hey, with that, maybe you can Santeri stay here- Sure. ... move very soon in the Q&A. We invite Steffan to join us as well for that. Before that, let me just wrap up with our targets and guidance. No changes here. We are proud to reconfirm our guidance for the year despite the uncertain market and our view on a potentially softening demand, but we are confident in our ability to execute our original plan. I think that's pretty much the summary here. Obviously, there is more detail we can go through, but I think now, let's get Steffan here on stage as well. Hey, Steffan. Hey, Steffan. Hey, Santeri. Hey. Good to be here once more. Excellent. hey, just double-checking with the tech team, are we all visible? Oh, we need to move a little bit... A little bit. Okay. Yeah. ... closer to each other. We are big guys here on stage, so, you know. Is it now better? Okay. Awesome. Hey, welcome once more, Steffan. Thank you. For the last time now- Yeah. ... unfortunately, as part of Efecte's operational team. As mentioned in the release during Q2, Steffan will transition to pursue another opportunity outside Efecte. Of course, you know, you leaving is a loss of a great- Mmm. ... great colleague. We had a great run over the last. Mmm. ... last three years, and, you know, in that sense, obviously gonna miss you. At the same time, change is also always an opportunity, and I think we've together built a good plan- Yep. ... of how to go forward. What we commented on is that we'll get back to it in the half year release in terms of the updated responsibilities, in the Efecte leadership team. Maybe, still before any questions, any comments, Steffan, from your side? No, thank you a lot. I believe in this company, and I'm gonna remain a big, big shareholder of the company, and maybe I'm gonna ask all the tough questions from the other side of the room. When there are very specific questions on specific KPIs. We know who they're coming from. Yeah, exactly. Watch out for that. All right. Thank you, Niilo, and thank you, Santeri, as well for your kind words. Yes. The company's in a good shape and. Yeah, no, you've had a- All good. ... huge contribution. Hey, but with that, let's move over to the Q&A, which traditionally has been a pretty exciting part of this. Over to you, Lari. Thank you, Niilo. As always, we have a very healthy pipeline of questions. As a general reminder, you can present your questions using the webcast portal's Q&A feature. With that, let's kick off with the first question. Niilo, can you give a general comment on Q1 numbers? Were you happy, and were there any surprises? Great question. Short answer was I was happy. The little bit longer answer is that the SaaS growth, while it wasn't, I wouldn't call it a surprise, but still I was very glad that we were able to post that strong of a growth. Maybe it was even a little bit of a surprise that it ended up at 28% level. That was for sure a strong execution from the whole field team there. Profitability-wise, it was in line with expectations. We commented on professional services, that professional services profitability was slightly lower than usual. There were some, you know, ramp-up of new people and invoicing rates things there that we can look into now in Q2. Overall, I mean, we also talked about the SaaS metrics really very much in line with expectations and maybe a few slight positive things there compared to my own view beforehand. Thank you, Niilo. Next we have a question on new customer acquisition. What was driving the strong new sales in the quarter? Well, you know, maybe that's something, Steffan, if you wanna cover that. It's a good question. Mm-hmm. Of course, one of the highlights, in a way of Q1. Yeah. Like Niilo said, I mean, we're really happy about the strong performance in our new sales, and especially about the balance of the growth. It came across all of the channels we have actually, go-to-market channels. In a way, I would say that it was strong execution across all of our execution vehicles. Mm-hmm. Very well done for our sales and delivery teams. Yeah. I already earlier- Mmm. ... commented on it, but maybe once more let's highlight it, and kudos to Tomi, who's running on a Spanish business. Yeah. I think it was an important proof point for us to get- Yep. ... get, you know, a couple of good deals in there. Thanks, Niilo and Steffan. Next, we have a question on our guidance. In your release, you reconfirmed your guidance for 2023. Given the market environment, what gives you the confidence in your performance for the rest of the year? There are multiple drivers for that confidence, so I'll start with the market. While it's a potentially slightly softening market, at the same time, the big wave of digitalization and automation is still continuing. Kind of that fundamental desire for organizations to digitalize and automate their work is still there. In some cases, it might be impacted by short-term concerns or economic difficulties, but that fundamental need and desire to invest in these type of systems and this development is there, and it's growing. When you look at more Efecte-specific drivers, I think, our team now after the hiring we did last year, as you know, there was quite a bit of that, plus the acquisition of InteliWISE, I feel we have a really strong team in place. You know, I don't see any major gaps there. Of course, as always, we'll keep evolving it and developing it further, and there is always a little bit of rotation. At the core, the team is in place, so it's not like we need to hire a lot of people that are missing or so for us to be able to hit the target. The people and the team is there. Also, what Santeri showed us was some of the very kind of cutting-edge things we're doing product development. Let's not forget about the kind of more day-to-day or closer to you know today's opportunities type of things in terms of the user interfaces work we've been doing or features that improve the productivity of Efecte consultants and customer admin. There's so much in what we do in product development, and it's getting good feedback from the market, from our sales teams, from our customers, that it just makes me confident that our growth this year won't be blocked by product. Finally, of course, you know, there are metrics, KPIs we look into. You know, Steffan has built a really world-class sales management system here, you know, with including forecasting and pipeline management, which gives us good visibility into what's ahead. Of course, situations change, you know, day- to day, week- to- week. Overall, when you look at what are the KPIs telling us at the moment, they're telling us that we will be able to hit our guidance for this year despite, I mean, we commented on this in the release. Despite end of the year, you know, Q3, Q4 growth most likely being slower than the first part of the year. One aspect there just to note is that with the InteliWISE acquisition that we did beginning of July last year, InteliWISE numbers will be part of the comparison period numbers starting Q3. That also kind of, in terms of percentage growth, obviously impacts a little bit the growth rate for the latter part of the year. As said, looking at the guidance, we are confident that we are able to get to that. Thanks, Niilo. Next, we have a question for Santeri. In your release today, you introduced the new GPT-powered feature. In general, what are your future product plans for implementing AI-based technologies on top of your platform outside InteliWISE? Thank you. That's also a very good question. In general, I think we can safely say that we are continue to bring the AI assistant and AI assistance more and more into our product. We've kind of revealed last year in our Digitalize and Automate event, brand called Effie AI, which is basically a vision of us that defines this type of a new generation of personal AI-powered assistant who can help the different people who work around Efecte platform. Under that umbrella, this GPT-enabled feature that we launched today is our first step, and we have a roadmap full of items for rest of the year and going forward that we plan to bring more features to help both agents and end user to work better with Efecte platform. You will hear more about those in Q3 and Q4. We have, for example, our Digitalize and Automate event coming up again in September, and we do plan to launch more AI features there. Thank you, Santeri. Next, we have a comment and a question for Steffan. First the comment. "Really sad to hear Steffan leaving, but leaving as an investor, but all the best for you in the future. The webcasts will miss you." Then the question. Thank you. Steffan, what has been the highlight of your Efecte career? That's a really good question. I mean, I would say the whole journey. You know, we, with these gentlemen here and a lot of the other team members here, we have built an amazing company that just getting started. You know, we have a amazing bunch of people here. We've hired a lot of talent, and we have all of the building blocks in place to really become that European, a leading European Alternative in our space. I really believe in it, in that strategy, and I think that's my, like, maybe the highlight, building us here and then basically gonna look from the other side how you guys are gonna execute and make it happen. Thank you, Steffan. Next, we have a question for Santeri. How big is your AI team in Poland? Well, I don't think we've kind of opened up our specific team sizes, but obviously, the addition of InteliWISE team was it greatly strengthened our ability. Even before that, we had people in Efecte with the AI skills and know-how. I actually, I look at AI, going forward, it's one of these kind of capabilities in tech that pretty much everybody need to understand. Obviously, if you're in sales, you need to understand the value that AI can provide. If you are in R&D and product, you really need to also understand fundamentally how it actually works and how we build around that. Obviously we'd like everybody in Efecte to be AI fluent, but then there are of course the core teams that actually build the technology for us. We will assess that all the time that do we have enough people there. Hopefully the launch of today showing we are one of the first in globally in our domain to launch feature like what we did today and many more to come, it will act as a proof point that we do have very good competence and know-how today in-house in Efecte for AI. Thank you, Santeri. Next, we have a question on our partner channel. How do you see the international partner program progressing? That's a good one and also a timely question. You know, today actually here at Efecte headquarters in Espoo, we've been hosting yesterday and today the first ever Efecte partner event. Where with, you know, 20-something partner people from across Europe flying in and we had great conversations about, you know, obviously, you know, some product things. Santeri and the team have been presenting, also jointly workshopping on positioning sales, go-to-market marketing. At the moment, really the main focus in our partner function is how can we best enable our partners in each and every country to sell more? Today, it's already over 20 countries across Europe plus South Africa where Efecte offerings are available through partners. In a way, you know, the scale exists and now we have started to see partners here and there get the first deals and good traction. If you're able to continue that momentum and get more and more partners in, into what we call active transacting partner status where you've had the first deals and SaaS revenue is flowing, the partner is getting a share, you know, that's obviously greatly helping us in our growth ambitions. Thank you, Niilo. Next we have a question on Efecte's SaaS metrics. What was driving the increase in churn compared to previous releases? Mostly seasonality. When we recently had super low, like exceptionally low churn numbers, I believe I gave the same answer. I think as long as we're in that 5% ballpark, it's a good number. There is always gonna be a customer who leaves, no matter, you know, how well we run the business. That's just part of it. If it happens to be in a certain period of time, a couple of customers who happen to be larger in size, then the churn number is gonna be larger. If it happens to be customers who are smaller in size, the churn happens to be smaller. Now, there were one or two customers who were on the larger side, who stopped using Efecte now in the period, the rolling 12 months period that we look into when we calculate the churn, and that made the number bump up. I mean, the reason we commented on it, that we expect it to bump up a little bit already in last year's release, was that, of course, these are typical long-term things, and we have some visibility on what's gonna happen. You know, no surprises there. Thanks, Niilo. Next, we have a question on sales. In which countries are you focusing on sales efforts on the public sector? Oh, great one. You wanna take that? That's a good question. I mean, in a way, how would I state it? I mean, if there's a customer opportunity in any country, we're gonna go after that. let's turn it around maybe that we have our own sales teams in Finland, Sweden, Germany, Poland, and in Spain. I would say that it's these four countries: Finland, Sweden, Poland, and- Germany and Spain. Germany. Yep. Exactly. I mean, we are working with on some of public tenders through partners as well, but those are then more partner-driven opportunities. In a way, if you look at our pure direct sales, that would be the countries in which we have salespeople. By the way, I realize now- Mmm. ... mentioned all the countries that in the beginning when I talked about- Yeah. ... where we won new customers. Yeah. I think I missed Poland. Yeah. Yep. You should have shouted like from the sidelines. Yeah. Niilo. You also didn't say Finland, but Finland. Okay. Yeah. Let's add Poland and Finland to the list. It's in all those kind of five- Yeah. ... direct markets- Yeah. ... we were able to win new customers. Like Steffan said. Mmm. ... public sector focus is probably most, kind of prevalent, in those five- Yeah. ... direct markets. Yeah, and maybe if you allow up, give a bit of color to that. A lot of, kind of increasing amount of public sector customers around Europe are putting more and more requirements on data privacy, security, kind of the flexibility of the service, and all kind of things that Efecte is really, really well positioned in the market. We have a really good competitive advantage in those, in those public tenders, and that's also because of the good work of Santeri, and the product is kind of helping on that. That's really how I think we are well positioned there. Thanks, Steffan and Niilo. Next, we have a question on our IGA deliveries. What was the situation with IGA deliveries this time, which you last time commented that there were a bit resource shortages and delays? Well, you know, maybe that's something where both of us- Yeah. ... can comment. You've looked into it, you know, back in the time when we had some resource shortages i n terms of how the product team and the delivery team can, what you can do to ease the situation. Sure. Now, I mean, just commenting on where we are as of today, you know, the team is booked. I mean, we have the ability to start also new implementations later this year. You know, there is a good amount of projects that team is working on. I think the type of big resource crunch that we saw last year, we are over that, so we were able to resolve it. Steffan was also a big part, working together with Santeri and the team in resolving the situation. We are not anymore in that spot, but we continue to work there because IGA is a new product and it's a new philosophy, more packaged than, y ou know, traditional identity management solutions. We continue to find ways to, in a way, streamline the deployments and kind of reduce the amount of work needed in these deployments, which is, of course, one of the reasons customers choose us and also an important part of the story. Yeah. Anything you want to add? Absolutely. I think we brought out that new type of offering last year and kind of hit the nerve in the market. We've been now obviously very focused on both delivering but also optimizing the solution. As Niilo mentioned, we work hand in hand with the delivery team so that the product is supporting. Also, like, learning all the time that any improvements we kind of get out of those customer deliveries, we'll bring back to the product. We are also building and optimizing the product for better capability all the time as we deliver these projects to the customers. Thanks, Niilo and Santeri. Next, we have a question again for Santeri. You're popular today. Ooh. You should come more often. Yeah. Yes, definitely. The question goes: Has ChatGPT and other generative models yet affected the demand for InteliWISE offering? Yeah, well, I mean, let's first kind of position InteliWISE in our offering. Obviously, we do have InteliWISE as a standalone kind of a conversational AI offering we offer to our customers. Beyond that, one of the really main drivers for us to acquire InteliWISE was that to use the technology to be able to boost our service management and over time also IGA businesses. Obviously, if I look from the service management point of view, I would say no impact. Rather positive impact. Launch of today I think is a good example that so much is happening not only by OpenAI, but many companies in the world developing, that it's just smart that we are part of that. We leverage that type of development, and we think carefully how do we integrate so that we can actually benefit from that development. That's what we are really trying to do with the launch of today. Going forward long term, how would that affect for the chatbots and kind of for that market? In a way, we do believe that this actually strengthens the realization in the market that conversational engagement with the users is the right way to go. Through that, I think there is, we do see a bright future for conversational AI portfolio as well as people will get more and more accustomed on discussing with computers, discussing with bots. They always need to be in context of the, of the use and the use case, and that's what we can do. We can bring these technologies and put them into context of, you know, be it service management or any other service what we offer. I think that's the role we can play here. Hey, I mean, this technology move fast. How does the future look like? I think we are all learning. At the moment, I mean, we don't see any big concern. Actually, other way around, I think it's a big opportunity for us at the moment. Thank you. You're raising, multiple, again, important points there. I think that the point about the conversational paradigm now becoming really mainstream- Yeah. ... even in, you know, possibly even in B2B software. Mmm. That's something we've always believed in. Yeah, talked about that, yeah. I mean, the renewed Efecte, the self-service, portal- Mmm. ... which is already, by the way, in production use- Yeah. ... at the first customers. I think that's a great development. kind of that direction that we set originally somehow feels now much more realistic and mainstream than in the beginning when we set out that vision. Definitely the world is moving now in that direction. Yeah, absolutely. Thank you, Niilo and Santeri. Going back to our reported KPIs, we have a question on international growth. How do you see the international growth trending going forward? Well, we are not guiding international growth. Our guidance is based on the SaaS growth overall. I do want to remark that in the international growth, because the base numbers are smaller, also there individual deals might have a larger impact than on the total SaaS growth number. That's also, you know, one of the dynamics just to consider. Overall, I mean long term, obviously we look forward to growing internationally faster than what we grow in Finland, and that will support our overall SaaS growth also going forward. Thank you, Niilo. Next, we have again a good question for Santeri. Santeri, if you would have to name one thing in Efecte products which you would like to improve in comparison to the competition, what would that be? Oh, it's like a trick question. Oh, it's a trick question. Yeah, I mean, like, you know, usually the way we look at that is that we have always something to improve. I mean, you gotta be humble building products. Nobody has a perfect product, and market moves on and requirement moves. There's always things to improve. To put it into context of this year, I think we've said that, look, you know, we've got a fundamentally unique value proposition with our agile platform and ability to expand processes and help grow with the, with the customer's business, with the, with the TCO that is, that is really, really fitting to our market. Where we can improve obviously is that the ease of use. You know, from a customer point of view, the world is getting more complex. There are more things to manage. Agents have more people to serve. Workloads are increasing all the time. Really the software needs to come and help you. Part of that is the ease of use. Easier the software is to use, more simpler it is to use, then better you do your job. That's been kind of one of our themes as we renew our self-service, and we are in process of also renewing our agent UIs. We're creating kind of investing into a modernization of our user experience and user interfaces. I think that's a kind of the top of mind where we're really committed on improving that and creating, again, better product in the future. Thank you, Santeri. Let me, Lari, if you allow, a little bit build on that because it's a topic I think we are all quite passionate about. I think it's also a broader responsibility on the whole B2B software and SaaS industry to bring more consumer-like experiences into the B2B world. I mean, just imagine, you know, there is somebody, you know, 25 years, straight out of university. She comes to the workplace, you know, has all her life used, like, these magical apps on the phone and tablet where you just, you know, swipe here and there and magic happens, or maybe you speak to Google or you talk now to ChatGPT and you just control, you know, all the information in the world and, you know, your life and business, everything just magically comes together. Day one, she comes to the office, gets the laptop, opens the laptop and sees the, you know, there is the ERP, the CRM, you know, all these systems and lots of buttons and menus and everything. Then, you know, a colleague says that, "Well, you know, no, you need to start with the training." And she's like, "What training?" You know, in last 25 years, she never trained to be able to use an app. They just work. Or maybe there is a little bit of a guided flow in the beginning when you start the app for the first time. There is no classroom training. There is no online training. The gap between what's in use at the workplace and what we use in our daily lives is just massive in that user experience and productivity. And that's one of the main reasons why we started investing quite a bit last year in these programs that Santeri was talking about and that are now starting to come to fruition during this year in the various releases. Thank you, Niilo and Santeri. Very important topics. Next, we have a question on M&A. From an outside-in point of view, it seems that you have been able to integrate InteliWISE very well. What did you learn from InteliWISE integration, and how can you utilize those learnings in the future? Well, well, Lari, maybe I should ask you and Tatu, you know, who were active in doing much of the kind of, you know, transaction work. I would say the first learning was that, yes, it was a little bit complex from the transaction point of view to acquire a small publicly listed company in Poland on a relatively unknown marketplace over there. That definitely increased the difficulty. There were some consideration with the case whether we should even go for it because we did foresee some of that complexity ahead of time with the public tender offer and squeeze-out and that whole process. That said, even though it was a massive effort, it was the team and the technology we really wanted to bring as part of the Efecte family. No regrets there and with some skill and some luck, we managed to complete the transaction successfully. The integration actually has been definitely a positive surprise. I mean, as a starting point, you of course think that, okay, transaction might be difficult, boy, the integration, that's where the real trouble start. You know, people leave, customers leave, the technology turns out to be worth nothing. That's like, you know, the base assumption typically in M&A in software. Actually, none of the bad things have so far happened, knock. We've been impressed with the team, super nice people and skillful people. I think we've been able to bring the InteliWISE team as part of the broader Efecte team. Culture-wise, it's a good fit. Now I guess, now being able to bring both Efecte Chat for Service Management last fall very fast to market, the first joint offering, and now with this speed that we all witnessed, be able to bring the first GPT power features on the Efecte platform. I think this is all testimony to things having gone well. Coming back to the question on learnings, I think multiple smaller learnings there. Maybe the biggest one is that, trusting kind of your assessment on the culture fit and people fit is probably one of the most important things that if that works out, a lot of, you know, the smaller details are gonna get sorted out. Thank you, Niilo. As our time for reserve for the webcast is slowly coming to an end, we have one final question for all of you. Niilo, Santeri, and Steffan, can you all tell what were your personal highlights of the quarter? Okay. Thank you. Now, just double-checking again from the tech team, there's a little bit of noise in the background. Is that audible also in the stream? No? Okay. Noise cancellation or whatever works well. Thank you for making it happen, as we say at Efecte. Yes. Hey, maybe Steffan, you get- Yeah. ... You get the honors- Yeah. Good. Thanks. ... to start. I mean, there's a lot of things to be proud of, but I'm really, I mean, I'm really proud of the SaaS growth we delivered, 28% SaaS growth with new customers in all of our markets. I think that's something I'm really proud of. We are off for a good start for the year. Great. Thanks. How about you, Santeri? Well, I mean, for me, it's like we are in a business of building new software, so whenever the new software actually materializes in customers. These are the moments we live for. In Q1, like, we had great firsts. Our new portal sold to a first net new customer, and our chat product went live with the first customers. These are the moments I feel really, really glad and proud. Well, guys, you know, I mean, Steffan's responsible for growth, so you mentioned the growth. You're responsible for the product, so you mentioned it. It goes like in a script, right? Yes. Yes. It's according to script. I'm here, you know, scratching my head. What should I say? Maybe taking the cues from you guys, and actually this really is my view also. You can read it in the actual release comments. The thing that I really was most happy about and proud about is that this was another quarter where we took steps towards our vision according to the strategy that we have set. That's really what we are here for to do. I mean, we've set an ambitious goal of becoming that clear European leader in service management. We have a clear strategy based on growth, product, people, and M&A to get there, and that's the strategy and the plan that we're executing. It's not to say... You know, I mean, we have now this history, one might even call it a track record of being able to deliver consistently and follow the plan and move step by step towards our goals. You know, from the outside, obviously, it might look like, you know, super steady or even easy. Of course, it's not easy. You know, for every deal, we need to do our best, you know, in sales. The competition is running fast also in product. We really need to be making clever decisions where to invest and then execute those product programs well. That's what business is like, and that's what makes this exciting. We have great team to make it all happen. Just super happy with Q1 and now looking with confidence at the rest of the year and all the challenges and opportunities ahead. Thank you, Niilo, and Steffan and Santeri. With that, it's time for us to wrap up and thank all of you for participating and wish all of you a happy first of May. Great. Let's wave. Thank you all for joining. Thank you. Have a great weekend. Let's wave like those emojis on. You can find Niilo there if you. It's gonna be a GIF. All right. Thank you.