Good morning and thank you for joining us. I'm Willa McManmon, Vice President of Investor Relations at Ingram Micro. I'm here today with Sanjeev Sahu, President of our Global Platform Group, who will provide an overview of Ingram Micro Xvantage and show you the platform in action. Let me remind you that today's discussion contains forward-looking statements within the meaning of the federal securities laws. As noted in this slide, we do not intend to update any forward-looking statements. After Sanjeev presents, we will host a question and answer session. At any time during this event, you may type your questions into the designated space on your screen. As a reminder, we will not be discussing financial information in today's presentation. Our Q&A will be limited to questions related to our Ingram Micro Xvantage platform. With that, I'll turn it over to Sanjeev. Thank you, Willa. Hello everybody. Today I'm going to talk about Ingram Micro, a platform company that is reimagining distribution and showcase you the Xvantage platform. Now, platform companies are resilient. Let me address a very important aspect that we talk about: operation efficiency. About two weeks ago we experienced some ransomware incident in our internal systems. We took proactive actions and immediately turned down our systems. We worked with some cybersecurity third-party experts to reach containment and remediation very quickly within days. The fact that we could turn back our operations pretty fast and quickly is because of the breadth and ability of our Xvantage platform. I really want to thank all our customers, vendors, partners, employees from the bottom of my heart and our heart to show that they trust us as a platform company to do business. I'll start with saying thank you. Now let's move on to our industry. B2B. We know B2B is hard, it's complex, it's challenging. Longer sales cycles. Quoting. B2C is blurring with B2B. Everybody wants a different experience in B2B right now. We want consumerization in B2B. Let's look at it. Distribution. A typical quote takes three companies, 12 people, and up to 72 hours. Think about it for a second. On average our customers do hundreds of orders every single day. That is how this industry works. Now let's look at Ingram Micro. We have been doing this for 45 years for 1,500 technology vendors and OEMs, 161,000 customers, supporting millions of businesses and consumers. An average Ingram Micro product touches six vendors. Think about it for a second. The complexity, the efficiency that we have to deal with in this industry. Ingram Micro touches 90% of the world's population. We have a better way, we thought, to bring speed, scale, and service to the industry. This industry, this is not our problem. This is how IT distribution industry always worked. We thought there should be a better way to solve this. How do we solve this problem? We're in an industry where we create, sell, and support infinite solutions. The IT industry has a $5 trillion TAM, big industry, lots of efficiencies. We had the ecosystem. How do we go about solving this? That's when the Xvantage thought came to our mind. Let me ask a simple question. The largest taxi company does not own a single taxi. The largest hospitality company does not own a single real estate or hotel. The largest content company does not own a single content. They build, they are all platforms, they build the technology. They had to solve the chicken and egg problem about building the ecosystem. We had the ecosystem, we had the network. We started building the technology through our platform. How did we go about it in this industry? Some of us are solving AI problems, building AI technology, data. Some of us are building or buying cloud platforms or cloud marketplaces. We are doing hardware platforms, inventory solutioning, special pricing, the technology to solve hardware services. How do you attach services? The hyperscalers are bringing in cloud solution to the market. How do you build all of this to complex solution? We have the OEMs, the DIs, the resellers and end customers. The lines are not linear anymore, it's actually changing. We build Xvantage as a platform, not a tool to support distribution, but everything together into one solution, single ecosystem. That is Xvantage. It stands between the demand and the supply. As I talked about the ecosystem, it connects the resellers, the MSPs to the OEMs, the providers, all of them powered by our AI and our data mesh. We have a platform for our vendors, for our customers and we have integrations. This is not just a tool to modernize distribution. It is a complete ecosystem in the B2B that is connecting the demand and the supply. How did we go about it? First thing is, a few years ago we brought in talent. Ingram Micro had amazing people and expertise in distribution. We brought in talent from Google, Meta, Amazon. The expertise that we had in house matched with the art of possible with technology that created a healthy balance of how we approach with solutions. The next thing we did was we started with data three and a half years ago when I joined, my first hire was a Chief Data Officer. We focused on that 40+ years of experience that we learned with the data with 4 petabytes of data. We did not just jump onto building new algorithm. What we did was we felt this is a problem for the entire B2B. There are so many inefficiencies, complexities. How do we use AI to reimagine the B2B journey from customers to vendors, to supply chain, to quoting to pricing. We actually started imagining journey with the power of AI, not solving solutions, everything imagining journey. That journey takes silos out to create a comprehensive ecosystem. Not just a website, but using that data and AI, it brings it to a cohesive ecosystem in our industry and that is expanded. A platform company needs network. We talked about, we had the network. It needs data to create seamless, meaningful exchange. What it also needs is an amazing experience. It's difficult to create a B2C experience in B2B. How do you unify hardware, software, services, everything in one single platform, not a fragmented experience? We worked on it, and our patent pending design that we created for a single pane of glass was actually recognized recently in the iF Design Award, which generally is owned by other platform companies. Let's unveil Xvantage a little more about what are our building blocks. A lot of us say we have a platform for the industry or distribution. Can you personalize your experience for every single persona, vendor, employee, customer, anybody? Can you actually support hardware, software, cloud, subscriptions, all things technology in one single platform? Do you have insights by AI that helps our partners to be better? To understand what is the next product they should go prospecting in geos. You know, how do you sell solutions to end customers? Can you solve special pricing and have every single price real time in your platform? Complex codes in minutes and seconds powered by these engines and a data mesh. Not just a data mesh or a data lake, but a real time data mesh. A platform company depends on architecture. Architecture matters. We are not building ERPs or rationalizing ERPs. We started replicating data from the ERPs to building for such a big company with 40 years' data. Real time data mesh that harmonizes data. On top of that, we replicated that to our own homegrown AI factory, which feeds to engines that create the business logic globally. To take friction out of this ecosystem and create an experience for our customers, vendors, employees. Think about it. A transaction happens in any country, comes to our real time data mesh, feeds to the AI factory. The AI factory understands. Wow. This partner bought this. It updates the recommendation engine on the fly and pushes to the customer to figure out how you can work on the next product. Or you add a SKU by a vendor immediately. The same SKU goes reviewed by the customer in seconds. I'll show that to you today. That is the power of Xvantage technology. They brought in talent. Programmers are working to build software every day. Not perfect, but solving this ecosystem problem that lies in the industry. With 30+ patents that we have filed for our architecture, for our design, for the data mesh that we created, for the AI factory, with more than 400 AI ML models, with 4 petabytes of data, in the last two to three years we have put in 32 million lines of code to build Ingram Micro Xvantage, and we are in this journey with 21 countries. The platform is live now. The foundation of having real-time AI to drive a platform lies in our AI factory. We are not just selling AI solutions, we actually are building AI through our rapid AI development models. Just like an SDLC, we look at prototypes, we look at value, we are working with data scientists to build those models. We train the data model with our AI. Creating from the data mesh, agnostic frameworks, AI ML models, then it goes to the AI factory. For example, the gen AI models, large language models, we had basic AI models. What we have learned is bringing that experience real-time to our partners. What we have learned through our own AI factory, which is the heart of Ingram Micro Xvantage, is actually we have the knowledge to now go and enable our partners. Now I've talked about AI, but how is this AI helping Ingram Micro? You all heard about in Q1 when Paul Bay talked about intelligent digital assistant. This AI factory looks at signals, propensity of all the core data, and figures out opportunities for our partners. Our teams are going out proactively and reaching our partners with those signals. It is actually driving new ways of proactive reach with demand. We are becoming from order taker to order maker, become like the data exchange through this AI factory. Similarly, the same technology helps us on efficiencies, solving complex problems from months to minutes. The AI can convert a PDF to a SKU, an email to an order from multiple vendors, and different ways to solve problems to a single code, from complex codes to do it completely touchless with all the integrations in the backend. From no status to push notifications, even on the mobile, to create a multi-channel experience from desktop, mobile. All seamless, integrated. Those are the problems we are solving now in IT industry. In B2B, integrations are hard to connect with a partner systems, a vendor system to our systems. It takes months, sometimes years. Nobody has IT resources and complexity to their format, our format. With our AI factory, we created an agnostic framework that we can meet the partners where they are. Doesn't matter what technology they have. We can absorb to their technology and can do that very, very fast. We make it simple, and we make it fast. I'm going to show that to you today. That is what we call Xvantage integrations. We have created our integration hub. Think about it almost like an app store. You have a CRM, you can integrate that to our platform in almost like minutes. I want to show that to you today. From email to order, purpose of data stores, APIs, anything you have. This entire framework of Xvantage integrations solves the key challenges. Imagine a partner who has from different systems, CPQ, CRM, RMM to sticky notes, Excel, and they come and enter orders in our system to their systems. This, you integrate once and run your business. This is across, we can give the efficiencies. We all know that hyperscalers or cloud providers are entering the market, and every hyperscaler has marketplaces. This technology, using our AI, has built an agnostic gateway through which we can connect to these hyperscalers and then actually transact both in our Xvantage platform as well as a hyperscaler marketplace and take all the complexity of cloud out. You know, the cloud motion is changing with AI, cyber, cloud. It's actually bundled together. What you see is we are solving a problem in the industry, not modernizing distribution. We are treating a platform business model where, through the technology that we have built, we are reducing cost to serve. You have heard about us taking OpEx out. We are driving demand generation. You got examples of IDA, how our AI is helping us to drive demand. We are showing growth. Ultimately, we are creating a differentiated value proposition in the market and go to scale this industry. What we are doing by Xvantage is bringing a flywheel and network effect. A platform business creates a network effect ecosystem with the power of data, network, and technology. As we bring in more vendors and make it more efficient to bring in SKUs, use our technology to bring in more products, we can build more solutions with the technology, more bundles. Somebody has to aggregate the solution and bundle between all these IT ecosystem, which will attract more partners. Once we attract more partners and solutions, we can actually do better pricing, promotions, merchandising through this digital platform. We can attract ecosystem partners. Think about connecting to three PL partners, marketing partners, service partners, and then you build this entire flywheel ecosystem. That's the power of the platform that we are bringing in. Just an example of a big partner operating in 190 countries, headquartered in the UK. They are using Ingram Micro Xvantage, using Insights CTO, and they are saving 10% to 15% hours per person per week. Think about Proofpoint. We talked about it publicly. Ingram Micro Xvantage is integrated with their backend for operations from deal registration, provisioning, pricing. Everything is done, which used to take days and hours to now minutes. I will show that to you today. Talk about another company. You all heard about NVIDIA. They are using Ingram Micro Xvantage to get the visibility and the reporting. When their solutions with the OEM is actually going to market, we can actually do that chip-level reporting coming there. Now, I have talked quite a bit. I'm going to show the platform in action, the capabilities of Ingram Micro Xvantage, how the technology that we have in real time can actually bring this all together, create a single pane of glass. Are you ready to see it? Okay, so let's start with a platform for Ingram Micro Xvantage for customers. This is Nora, who is an $80 million mid-market MSP that transacts with us. Nora is logged in, and this is what used to be in phone calls, multiple solutions. This is a single pane of glass. If you look at this, first question I have for you is does it look like a distribution platform to you? Everything here we can talk about AI. Everything here is personalized for Nora, what Nora is doing. This is a self-learning platform. Every single interaction, the platform is learning. If you look at it, all of this is real time and driving call to action for Nora. This is the backend engines processing all events real time and in real time telling you your orders, quotes, subscriptions, which are there to process at single view. You can get all your orders, quotes, renewals, subscriptions. You can look at active quotes, your credit information, invoices, returns, and claims insights. These are all personalized widgets, kind of like a Netflix-like, but it's personalized for your experience in the platform. Our AI even gives you the top picks for you. For confidentiality, we have actually grayed out the pricing because we treat data seriously, we're not showing it. Now think about this. Even when I can go and customize this, these widgets are actually personalized for Persona of Nora and you can actually look at that list, what is actually relevant for Nora. You can go active course. It can drag and drop and turn on and off of there. Now, let's move to an important aspect: Insights. You know our partners, some of them are small players. We play in SMBs, mid market. They cannot invest in AI. They cannot invest in all the data. We have been in business for more than 40 years. How do we give data to them to make them better? It's almost like a $48 billion company supporting a small MSP or a partner to make their business better. Go to business insights, not PowerPoints or QBR. You can actually do a business review real time in the platform. There's a difference between having a reporting AI engine versus your platform doing real time, getting all the data. You can come in here, a partner look at Nora can see monthly sales, the sales drivers, recurring revenue, the single pane of glass, the geographic prospecting. I'll show about it. Warranty, attachment, product lifecycle, the training computers. Now, I cannot show you everything in the interest of time. Let me give you two or three important aspects for Nora. She's looking at nurturing and driving share of wallet for the partners who are already in business. She's also looking at finding out new prospects where we can actually look ahead, end customers where you can grow their business. Let's look at how it will work here. First thing, if anybody drove by a highway, look at billboards or a stock market, we actually give with our data trending products which might be interesting to Nora. We look at all the trends that we think is important to Nora. You look at all of the products which is important to her. In the platform, we give the data and our AI is actually figuring out deals. Think about it. Efficiency. We have inventory, looking at it. We process with the AI engine to the factory. It's figuring out there's a deal on an inventory. It's pushed right here. There is a deal on Dell Inspiron here. Nora can view it or add it to the cart. Now goes to Nora. Product lifecycle. As you know, renewal and refresh is very important for Nora. You can look at renewal opportunities, you can look at what is ready to order, subscriptions, all of that over here. Now, other thing is sales maximization as I talked about, warranty is a big piece in her business. How do you look at warranty opportunities to do that? How do you look at cross selling opportunities? Nora can figure out what are the warranty opportunities here. It gives you insights real time from our AI. You can also look at cross sell opportunities that Nora can figure out. What are the cross selling from products that she's selling to actually attach it to there. Now look at business growth. Nora is California, because we are from California. You can actually go and look at lookalike customers and it clubs you with our algorithm. Where are the prospects? You can go and look at it to grow your business generally. A few years ago in this industry we used to hear we fly kind of blind with our distributors. Here you are getting real time data as a platform for Nora to do business with us. This is not just an e-commerce platform. If you go here you have everything we talked about: hardware, software, cloud. You look at products, you look at cloud, you look at NC. All of this is integrated in one single platform. Now let's move on to here. I'm typing Del. Before I even type, our GenAI algorithm type ahead figures out what is actually important for Nora. She does a lot of hardware. Desktop, Dell Latitude. I click on, not clicking Dell. Immediately the Dell product comes up with special pricing integrated. Look at all this information. I have the product with special pricing, products related to the item with my recommendations coming in now. Very important, the moment I'm picking up the hardware that Nora is interested in, our platform immediately pushes warranty that there's a warranty opportunity. When I actually take a look at this, there is automatically, I'm trying to add the Dell laptop, it figures out there is an opportunity for upselling, you know, warranty from a one year to a three year. Do this, say continue shopping. I look at it. I'm not only buying the hardware, it actually shows you the service and software on the same platform. This is all the AI, the engine I talked about, the real time events pushing, it's processing all of that in the AI factory. I want to add some Copilot add here, look at this. It tells you you cannot buy a Copilot without a 365 license. I didn't do anything. The logic is telling us. Interesting. Maybe I'll go and do this. Add to the cart. I add to the cart and I say go to cart. Look at this. A hardware, a warranty, a subscription, and cloud all in one single cart. There's no friction, there's no fragmented marketplaces. It's all there in one single platform, irrespective of the technology. The NORA goes and says continue to checkout. We have the vendor mandatory fields already integrated real time from the back end. I'm not going and putting into Microsoft's website. It's all in one single place. Continue, the order information comes. I actually get my shippable items, shipping address, all of this, my shipment details, shipment summary, provisioning summary, license, everything. It parses everything through our backend orchestration engine. Place an order, the order is done. One single click, and then I want to view order details. It gives my shipment data, and I'll show you how it can go to mobile and push notification. I track. It's already figured out the ETA, where it can track and where it is going. Now let's look at another case where there are two scenarios we have. Sometimes our partners have to go and register deals, and how do we authorize those in our platform. I'll give you a recent example of Proofpoint. Here at Proofpoint, we integrated our systems with Proofpoint. You see these ingested products are already there. I select here. I want to select option. It already shows me the channel service for commercial customers already populated over here. Now there's a new capability we added. We normally have to go through authorization, pricing, back and forth, talk to Proofpoint. It's all integrated with the backend. I want to request price. Look at this. The end customer, which is a bank, comes here. I select this. As simple as that. Continue. Now I don't have to go and authorize this reseller information, register price. It's all seamless, integrated. The backend, our business engines, our AI factory, data mesh is doing all this complex processing to take friction out. I continue. The end customer information is registering. Wow, look at this. We can actually get review and price and get a quote. Now I realize, okay, I want to add some more Proofpoint items. It's already ingested in the platform. Okay, I want to do a Zen guide enterprise. I want to add to quote. It's automatically added. I submit a request. The request is submitted. Now I don't have to go and call Proofpoint. I'm sitting in this ecosystem. I'm watching requests submitted, getting a drink, maybe a Diet Coke or a Monster, and seeing how is the request. Wow, this immediately the submitted request is done. I don't have to go anywhere. This is the power of ecosystem with our logic and AI. Now let's look at another scenario where you already have the deal reg done like CTO for a vendor. Let's take another scenario. I come here. Let's say Nora has an authorization for HPE and got an email 10 minutes before that the HPE is done. Generally you have to call, figure out from HPE's site, get the authorization. Here I see, wow. There is already in the dashboard, real time pushed to me in Xvantage. The HPE core is already there, ready to order. Great. Nora drinks some coffee, clicks on this and look at this. All the line items of HP order is here. I look at this. Okay, as I said, we get out the pricing, but it is integrating special pricing which is a complicated issue in our IT industry because you have back end special pricing. David, you look at all these items. Oh, a complex CTO order looks good. Continue to check out. Okay, I see all these line items over here. The deal information is here. Looks pretty good. Notice this. Fine. This all looks good. I continue and automatically I'm done. Done. One single click. What used to take days or weeks or even several times. It is done in minutes and seconds. Now let's move to a same platform. I talked about a single pane of glass, hardware, software, cloud, subscriptions. Let's look at subscriptions. Same platform, same persona for vendors, customers. It's not different platform, same platform. I come here. Wow. My real time event engine is telling me in my dashboard I have 10 subscriptions active. Say go here. I can see immediately active subscription spending. Keep in mind this is giving you all information at your fingertips to do with all that. I said okay, this is fine. Nora wants to change a subscription. Nora goes here. I see my subscription details from Proofpoint. I want to change it. In our industry it takes a lot of touches, lot of calls backend to actually get all subscription changes done. I'm the same platform that I showed you a hardware CTO quote to actually a cloud to a bundling. Let's try changing subscription works or not. I go and change. First it can give me options whether you want to change immediately or on a specific date. I want to change immediately. It tells me do you want to upgrade the subscription? Because we have already done the backend integration with our agnostic framework to do that. Okay, I want to upgrade the subscription. Then it gives me automatically what are my upgrade options. It gives you Proofpoint Advanced Threat Protection or Commercial Prime Threat Protection. Okay, I will select this. Then it tells me you already have bought a license. Do you want to modify the license quantities? I will do the right here and modify the license quantity. Then you see automatically the AI engine figures out what are the products that it can add to the same license. Okay, I want to do Zen Guide Enterprise version 2. I do continue. It automatically prepared the entire code for me. You can even adjust margins, all of that in interest of time. I say request a quote. I submit the request. Nora again takes a break, gets a coffee. I'm saying, okay, let me see if my request gets submitted or not. I'm watching my dashboard having a coffee and let's see what happens. It's processing. The event engine is actually doing. Wow, I did not go anywhere. The same engine real time through our real time data mesh and AI factory and our intelligent engines is processing same seamlessly in this platform. Now let's talk about integration. In our industry and in any B2B, our partners have lot of systems. CPQ, CRM, RMM, the switching between them. Let's say you have a Salesforce. To integrate a Salesforce to our platform, it might take months, sometimes years on priority. Let me show you the integration that I talked about. Xvantage integrations, how does it work through our agnostic AI framework. I go here, I'm going to go to an integration hub. This is our integration hub. It can be Salesforce, Zoho, ConnectWise, all of this. We have connectors for all today. Let me show you Salesforce. Nora has Salesforce that she works with. Normally you go to Salesforce, enter the orders, then call up Ingram Micro, then tweak, enter it manually. You do this here. Let's see how quickly we can integrate Salesforce with Ingram Micro and the Xvantage platform. Okay, I select Salesforce. I say, okay, we want to integrate Salesforce CRM, want to install integration. It sets up my authorization and takes me to Salesforce. If you have already a Salesforce account, you know we actually do login and app is installed from Xvantage. Now if Nora goes to her Salesforce instance, look at this. I am in Nora's Salesforce instance. We can look at the goals and how she's working in Salesforce. I'm going to say, okay, I'll look at new order. When I look at new order, immediately there is a simple icon called sync to Ingram. No integration, no multiple developers, no months of format exchange. A simple click. I think that's easy for Nora to do. Just click here, save, oh my God, look at that. The Xvantage order that she submitted shows up in Salesforce. It takes almost a minute or minute and a half to integrate a CRM with Xvantage. Now, a lot of us have integrations, but it's all about how you take the friction out and seamlessly integrate to make it easy for our partners. I showed our experience for our partners. Now let's move on to next thing. Some of our partners actually not always on their desktops. They're going on customer sites, they want to have opportunities. Nora has her mobile phone. She got a new iPhone. Likes iPhone more than Samsung. She goes and says, wow, push notification. You see, wow. The order that she ordered has been shipped. Nora wants to see tracking details. She opens her mobile. There's a distribution platform in a mobile app. Clicks on that, it's loading the app. The app says, okay, your estimated delivery is tomorrow. The UPS tracking number is here. She doesn't have to go to UPS and copy it and figure out when it's coming. She actually clicks on here and it gives you the tracking details, your ETA. There's a difference between a tool and building a comprehensive ecosystem that collates all information to take the friction out. Another example. Now let's look at this. Nora is at the customer site and says, okay, let me see. I already sold a Dell. Can I sell an installation service immediately? My service opportunities come here. I add some. Look at that. It's already added to my cart in the mobile. Instantly, I look at my cart, it's there. All right. I want to check out. The PO number is here. The terms are here. Dell ProDeploy Essentials. Place your order. I'm done. Nora can now transact from the mobile. Now let's look at other things. We said we are a platform company. We are building an ecosystem like a platform company, demand and supply. I showed you platform for demand with our partners. Where is a platform for supply for our vendors? Vendors are a part of the ecosystem. As a platform company, we also have a platform for our OEMs and our vendors. A single pane of glass for our vendors. This is our platform for our vendors. Vendor comes here, looks at business performance, partner breadth, the orders, looks at the entire orders and shipments. Direct ship opportunities also, looks at who are the top five partners that are actually buying those products for the vendor. Look at sales. Product type gives information, listing quality. It gives you information. Now let's look at what is more important for what we hear from our vendors: performance and insights. Like partners, we also give performance and insights for our vendors. Obviously, you see the business health, you see the sales revenue, partner growth. Now look at this. Dormant partners are increasing from previous year and ideal partners are up 15%. Vendor thinks, is my brand awareness not working? Should we position a marketing campaign to these ideal partners to have more aware of our brand? What do we do? The vendor goes there. Let me go to go to market. You look at all your marketing campaigns over here with activity and progress mix. Most importantly, you create the marketing plan and you look at what is my objective: brand awareness, the moment. Brand awareness. It gives you all the preloaded packages that you can actually drive those campaigns for brand awareness. Now the vendor goes here, we actually kind of look to performance insights and look at supply and demand. Inventory is an important piece. Right as we are looking at the ecosystem, we're moving inventory. How do you optimize? How do you look at the rate? You see what is aging inventory, you see what is your aged inventory over here. The vendor gets a quick view and can search. You can even sort based on inventory and you can download that information so you can access it. Now let's move on to codes. You can actually look at your cloud codes here. It gives you nine codes and gives you a probability% conversion that drives your propensity to act on that code. If you look at the philosophy of our platform, it actually drives call to action. The more you drive call to action and real time integration, it will drive stickiness for the partners and that will drive stickiness in our vendors. You can really connect both sides of demand and supply. You go to quotes and you look at all of these quotes over here, Copilot license North, and you can actually have all the quote information over here. Similarly, you want to go at orders. The moment you look at orders, you have new order, past due shipments, all that order factors. You actually can look at shipment details of all these shipped, delivered, all of that. I click on an order, it gives me information about shipped, unshipped. Most importantly, take a look, ASNs for hardware order, advance shipment notice is important. How do we get ASN set up properly to give notification? That is a big problem we have. Here I can actually go here to ASN. I look at the vendor sales order number, tracking number to actually get my ASN set up. I submit and automatically that ASN notice is submitted. We have integration tools that take that data and transit across a platform ecosystem to do that. Now let's look at another aspect, catalog. You know every vendor has different formats of data and catalog. To add SKUs is a big problem. We told about how our AI is agnostic and actually processes any format of data. Let me show you today how we process using our agnostic framework. We talked about PDF to SKUs, Excel to SKUs, any format. Let me show you live in action how this works. Today I have all of these solutions over here. It can be hardware, cloud solution listings. Say, okay, I want to add new products in my catalog, I add new products. I want to upload a new file to feed this AI engine. I click, this is the MS catalog. Look at this file. It has specific Excel sheets and different kinds of formats and long description, category, and a cost and all that stuff. How do I process it using our AI engine? I click open. Now this is processing. Wow. It actually processed through our engine. Let's see, what are the results? Oh, it says it matched all the attributes through our agnostic framework, but it has a question on two columns. The subscription period doesn't match and the cancellation policy doesn't match. What do we do? I go here, click on this. Okay. I match these two fields only from those hundreds of fields. I do next. Wow, this catalog is added. I gave you a little bit of idea about these platforms. You actually got an understanding of. You saw the Xvantage for vendors, partners, and Xvantage for mobile. What we are building is not modernizing distribution or B2B. You're building a comprehensive ecosystem as a platform business model that solves a holistic problem for this industry and the entire B2B industry as well. Starting with it, we are bringing speed, scale, service to this industry and our partners. You saw speed in operations. We can actually help our partners scale and drive their business by not only taking OpEx out by the insights we give, and we can service our partners for bringing entire ecosystem, all technology into one single platform. There's a difference between building a tool or technology or a system to modernize distribution or support distribution or the business versus becoming a platform business. It's different. We had the ecosystem. We started building Xvantage with the power of 40 years of data and AI to comprehensively solve this problem. That is what we are becoming, a platform company doing platform business. Hopefully today you got enough idea and view to start looking at us differently as a platform company, a platform business who is solving these complexities of this ecosystem. Thank you. With that, I'll ask Willa to come in and take questions and answers. Great. Thank you, Sanjeev. Our first question is how do we differentiate Xvantage from other distribution platforms that might be out in the market? Willa, if you heard me today, I hope I said it clearly. We are not building a platform to modernize distribution. If you look at it, Ingram Micro Xvantage is solving a problem with our AI, our AI factory with the technology that we have, holistically solving the problem for the entire B2B IT industry, connecting seamlessly our vendors with our resellers and our end customers in a very different way. We are taking friction out, personalizing experience for your persona, not building a separate platform for cloud services, hardware, software, bringing everything together with the power of data. That is Xvantage. It will be difficult to make Xvantage as only a tool for distribution. We are solving a bigger problem for this industry and that is why Xvantage is different. You can look at the building blocks with the data mesh, AI factory we have, having a platform for every single persona, solving special pricing, real-time pricing, having complex quotes and configurations in minutes and seconds, driving insights, what you show, doing integrations to meet our partners where they are, that's the platform. I want to say, Willa, I again think that there is a clear difference between a platform supporting distribution versus becoming a platform business. Xvantage is that platform business. Great, thank you. One of our customers asks, how are you building Xvantage to drive growth for your customers? There are multiple ways we are driving growth for customers to Xvantage. Right. You saw the insights, which actually gives them demand signals and how they can grow and position their products. Geo prospecting, optimizing share of wallet, you saw it in the demo today. We're also working with different marketing campaigns to actually load them, give them data to actually grow and grow their business. The other thing we'd also see is that what we work is we take OpEx out for the customer so they can really focus on their growth. We have heard from multiple partners that the platform has given them efficiencies, taken cost out, given them data to grow their businesses. Most importantly, the Xvantage integrations, if you look at it, they don't have to switch between multiple systems. They can integrate once, they can operate their business, frees up their resources so they can focus on growth. You don't have to have a separate marketplace for cloud, for hardware. It's all things together in one single ecosystem, and that's how we are helping our partners grow. Excellent. You get to drink a lot of coffee. Absolutely. Coffee, you'll be a Coke Zero. Yes, exactly. A question from one of our sell side analysts: Can you share more about how Xvantage is able to connect supply with demand, and how this is different from what other distributors can do? Yeah. If you look at it, as I said, we are connecting demand and supply to solve the complexity of the entire ecosystem. I give example, a single quote takes three people up to 72 hours to do that. There are multiple challenges. How do you have hardware, software, cloud in one single platform? If you look at the OEMs and the vendors, then you have the resellers, right? The hyperscalers. It is not more linear. The market is changing from OEM to reseller to end customer; it is not the same anymore. Everybody's going to everybody and more lines are blurring. We have to have an efficient platform approach to solve this problem as a whole. The idea is that you take how do we actually ingest queues, how do we bundle cloud and hardware, how can we tie up services, how you can connect with hyperscalers, how you can actually drive insights, how you can have real-time data. You are trying to solve a problem of the entire IT ecosystem, not just distribution. That is why we talked about that. The opportunity is an infinite solution that we create and sell. We are playing at a $5 trillion TAM. That's the idea, to create this platform and solve the problem for the entire IT ecosystem, connecting demand and supply like other platform companies did, which we gave examples today. Another sell side analyst asks that we mentioned the AI factory. Are we testing out agentic AI solutions? Great question. Let me give you an idea about our AI factory. Everybody uses AI, the term. We did not do that four years ago. The first thing we did was look at all the data we had, more than 40 years, and start with building a real-time data mesh. My first hire, I said, we brought in from outside was the Chief Data Officer from Instagram. Now, this data factory we created harmonizing data because there is no AI without data. You can do multiple PoCs and algorithms. The idea is you have to find the business problem that actually AI solves. What we did was we actually did the real-time data mesh and then created rapid AI development with that data, with data stores to actually feed the solutions. We started with AI models, then large language models, we actually had machine learning models, and now the same data models is now doing agentic AI, which means that ultimately you solve a business problem, look at what the problem you solve and train the data and do agentic AI. The way we have approached this is we actually, let's say example. We saw recommendations that you have in our platform. Initially, we took the data and the AI factory. We push recommendation for the advantage for our associates, right? The sales team, when they actually looked at the recommendations, they upvoted and downvoted and we trained the algorithm to be better. AI is not perfect, it's iterative. We are doing that. Same thing, we are now doing iteratively, trying out agentic solution, which you will see that will be coming out very soon. Another customer asks, how many different systems or tools do you estimate are being replaced by the Xvantage platform? I will think of it this way. We took a reverse approach, right? We did not try to build another tool for distribution. What we did was our business was running, which we had before, like other distributed ERPs and all. We tried to build a new fabric with looking at customer journey and reimagine the journey with AI and how we build the platform. We created with data, intelligent engines, and experience. What we have done is as we have built this platform, we have transitioned our countries and businesses to move to platform, and in the process we have rationalized hundreds or lots of systems. It's a different way to look at it. We are not replacing one tool with another. Ingram Micro Xvantage is not a tool. It's a complete ecosystem where we are building the platform business, and we are moving the country to run, operate this way. Think of it this way. We have 21 countries in Ingram Micro Xvantage right now. They are using the Ingram Micro Xvantage Modern Stack to run as a platform business. Obviously, there are different levels of maturity. That's the way we have approached it in Ovila. It's a cloud-native platform. We are looking at decoupled data access. We are porting countries to this platform versus replacing one tool with another, because replacing tools and ERP will take a long, long time to do that. I think we have time for one more question, and this comes from an IT analyst who asks, can your customers manage multiple as-a-service solutions within the platform? Yeah, absolutely. That's one of the things that we say, that we actually have our own engine, service engine we call Xvantage subscriptions. We can actually do as-a-service models. Look, it's easier said than done. You can actually have subscription model, hardware service model the customers can manage. We have released already to some of the countries that have this subscription managing engine, and then over the period we will take it to other countries that can use the engine. I want to reiterate one thing that I said. Our goal is to have everything that a partner should do in one single platform. You can manage hardware, you can manage cloud, you can manage as-a-service subscriptions, as-a-service solutions. You can do all of that together in one platform. Kind of like we are not building an AI platform, cloud marketplace, service platform, hardware platform, it's kind of like an iPhone, everything, all in one, it's kind of a desktop, everything in one single platform. That's the power of Xvantage, solving all things in the technology to one platform. Now, it's not always perfect. We listen to our partners, we take feedback, we iterate, we are learning and developing, training the models. That's the idea of Xvantage. Excellent. Thank you so much for your time today, Sanjeev, and I'll turn it over to you for conclusion. Thank you. If anyone has questions, feel free to reach out to investor relations at Ingram Micro. No, thank you, Willa. I want to say everybody, thank you for your time. We appreciate your business, and we are building this platform every day with your feedback and trust that you've shown with us as a platform company to really become and becoming a platform business to solve the problem as a whole and help us, work with us, give us feedback to be better. Thank you all for attending today, and hopefully we can actually talk soon, very soon. Thank you so much. Bye.