 I guess. I guess today, folks, is Michael Otis. Michael is the founder and CEO of Procoto. The website, folks, is P-R-O-C-O-T-O dot com. And Procoto is a cloud-based self-service option for companies looking to organize their data around multiple vendor contracts. Michael, welcome to TFNN. Hi, Tom. Thanks so much for having me. So tell us exactly how this works and what the market is for this, meaning what companies would want to use your product. Sure. So I'll give you a little context. My background, initially consulting, but last two stops were at multi-sided marketplace startups where we'd have giant Fortune 500 companies on one side of the equation, and then we'd interact with much smaller vendors on the other side. So I got to see how Walmart, Best Buy, Target, giant companies, how they're running their RFPs, what software they're using. And then on the other side, these much smaller companies who didn't have access to any software and, comparably, their process was a lot clunkier. And they had the same exact issues, but nobody was really solving the problems for them. So after staring at that problem right in the face side by side for four years, I finally said, okay, I need to go solve this problem myself. So a metaphor, a comparison to the market that we're going after, is really similar to HubSpot's early days. So Salesforce and others had ballooned to these giant enterprise level CRMs that were upwards of a million dollars back, gosh, 15 years ago or so. And HubSpot comes in and says, guys, this is ridiculous. Small businesses have the same exact problems. They have to manage customer relationships and manage the entire sales process. We're going to build a CRM that is catered toward S&Bs. So we're doing the same thing, but for source-to-contract software. Okay. So this would be a company, Michael, that would have probably what, at least 10, 20 other relationships? Yeah. So vendor relationships, sure. So we tend to qualify it by number of employees. So right now we're targeting 50 to 500, maybe upwards of 750,000. Okay, cool. Right. But I use it for us. We interact with vendors, too, and it's still just my co-founder and myself. So our hope and our expectation is longer term we expand beyond those bounds, too. Sure. So and as you get into these companies, are you basically coming in under price? Are you coming in that saying that your software can do something that the other software can't? Meaning that they're using right now? Sure. So it's really a whole go-to-market process that's different for us. So the majority of sourcing and procurement software right now is very traditional enterprise sales outbound. So a salesperson reaches out to you and you talk to them for a few weeks and you look at a deck and then eventually get a contract that sits in legal for six weeks. It's just a buying process that really nobody wants to do anymore, but especially smaller businesses don't want to do. So our go-to-market is much more go to the website, sign up with a credit card number and email address, do a free trial. So the savings, the ROI is immediate and it's a true SaaS model. It's a per user per month product led type product as opposed to the more traditional, hey, paying $125,000 on day one for an enterprise sourcing solution and you're maybe month 18 before you see the ROI on that. Yeah, interesting then. That is interesting. You know, it's amazing to me that there's always a new mousetrap man, right? And it's always sitting right in front of you, right? It sure is. I'll be a little self-reflective here. I don't think I'll ever be the type of founder like Steve Jobs who has this idea that no one knows they need and really goes and puts it in their pocket and shows them, hey, this is what you've always wanted. But I tend to be a little, I tend to be well-versed at looking at problems and saying, OK, how can we make this better? All that said, it took me four years staring at this problem right in my face for me to say, OK, maybe there's a business idea here. So you're right that it's oftentimes right there and it takes you a second or two to acknowledge it. Well, and it's nice that you've had a big corporate experience too, right? Because the bottom line is that what happens in large corporations, folks, everyone has to get something off their desk. You're talking about a bureaucracy, right? I mean, that's the bottom line, right? So that's pretty cool that you've already had that portion of it. And now the bottom line is that you've got to make your own lunch now and you've got to put it in the refrigerator and now you've got to work a little bit harder. But the bottom line is that you have your own company now. That's right. And that's a lot of the people that we're targeting are people like myself who worked at these larger companies that have lived in these giant enterprise solutions that they never had to pay for. And now they're making all the decisions at a much smaller company. And they remember these giant conky outdated solutions that did solve a good chunk of their problems. But now they need something that is more catered to the type of model that they're running today. So we're providing that for them. What's pretty cool, man, is that, you know, like, we're a small company, but realistically, what ends up happening is that there is someone on my payroll that that's all they do. So I can see how this is a nice piece of software, man, because the bottom line is that larger companies, they probably have five. Well, a company with 50 people probably. I don't know. I don't know how many people they have. But the bottom line is that someone has to be paying attention to this versus. So is this like a CMR deal? Like once you get used to it, do you know what I'm saying? Like you plug everything in, right? And then the bottom line gives you updates. And everyone can basically look into it, meaning inside of the office as that contract is revolving. Yep. So I'll apply to both of those thoughts. So first, on the comparison to our CRM, it's very similar to that. But on a contract and vendor management side of things, that is sourcing process management. So if you're involved in the sourcing team, yes, you're actively in the software. But something that was really important to us, that is counter to how a lot of the enterprise procurement tools are built, is we realize that, especially in small companies, everybody is involved in the procurement process. So you might not be the one reaching out to a vendor, but you're waiting on a response from that vendor. You're waiting on the sourcing team so that you can continue your job, whether you're in customer success or sales or finance and accounting. You're dependent on that whole process. So we have made it much more collaborative so that the entire team, all of the different functions, now have access to the software for free view on the accounts because everybody needs to know what's going on the sourcing process because that's core to how you're running your business. And then the flip side on the larger businesses having teams to manage this. So I'll speak from my own experience. I was at a couple of mid-stage startups and I had teams around me helping me manage the entire sourcing and procurement process. At one of the companies, we were 350 employees by the time I left and I had a team of 12 helping me manage the sourcing process. And part of the challenge that we're helping smaller businesses overcome is you're right. Oftentimes you have a single person who's responsible for doing this. So they don't have the time to automate and standardize all of this stuff. It becomes overwhelming. So it's not that they're doing the work of four people, it's they have to let some parts of the process fall by the wayside. So we come in and say, okay, we're gonna give you the power of a team of three, four analysts and it's still just you and we're gonna make your life a lot easier and also allow you to focus on the things more important whether it's negotiating with vendors or negotiating new contract terms, whatever the case may be. We don't want you to focus on the data management side. That should be all automated and systematized at this point. Nice. And you have some good prices, man. So it's intriguing, you know, I mean, I'm looking at the pick a plan, you get what $25 for basic, $100 for a premium and then business, what is that? That's more a custom deal. Right. That's more about traditional enterprise where we get on the phone, we build out a custom version of the product for them. Well, listen, this has been a pleasure. Wish you great luck, man. Now, are you located? Where are you located? I'm in St. Petersburg, Florida right now. That's a beautiful thing. Beautiful St. Pete, man, I like it, I like it. Come on down here, let's get him some business, folks. And the website folks is PROCOTO.com and I'm sure there's plenty of you folks out here that have a small business that need it. Well, Michael, this is a pleasure, man. You have a great one. Safe one and we look forward to speaking to you again. Likewise, Tom. Thanks so much, man. Have a great one. Stay right there, folks. I'm coming right back and bottom line, you can see digital software is running everything, folks. Down, down, industrial's down 275, Nasdaq's up 33, S&P's are off 14 and a half. Stay right there, folks. Come right back.