Ann: Business Update, page-73

In the September webinar Mark Kehoe alerted us to the industry metric that the conversion rate of trials to contracts is 1 out of 5. A sensible person will park their expectations there. [MK expressed his opinion that FGO can do better than 1/5... if so , well and good] From here on it is simply a numbers game.... get in front of prospects, present and sign up trials.

It was EXL which approached FGO. In the video interview with Mike Toma [EXL's CTO and Senior Vice President] Mark Kehoe asks him why EXL chose Flamingo?... Answer.... "the thing that is going to win for companies in the AI space is really building purpose built solutions and Flamingo, I think, more than many other companies have really tailored AI and machine learning capabilities and the cognitive brain to very specific industry solution problems and that's what attracted us to Flamingo and where we feel we will be able to deliver more value to our clients"

The follow up question is ... And looking forward as we go to market, what do the next 6 months have in store for the 2 companies working together? Mike Toma answers it this way..."Our partnership has really started to take off... ... and together we are going after our joint clients and seeing a lot of potential activity"

So... EXL.... a US$4B company, with 800 clients... sees FGO as the means to deliver more value for its clients and is now embarked on a program of jointly presenting with FGO.

A bit of background on Mike Toma... he joined EXL in 2016 after spending 13 years with ADP [Automatic Data Processing... which had revenue of $12.3B in 2017]. His role was leading ADP's international product and technology organizations in Europe, Latin America and Asia Pacific regions. https://www.exlservice.com/global-leadership

Any suggestion that FGO would somehow be better off establishing a client base on smaller Australian companies betrays sloppy research and completely fails to grasp the scale of the market potential.