We are pleased to share with you our latest report on People-Centric HR Software. Millennials have taken over the workplace, bringing with them an entirely new set of core values. Coupled with that generational transformation, a tech-fueled shift from a Goods- to a People-Centric economy is rapidly accelerating in the developed world. These themes have ushered in a People-Centric SaaS revolution, at the forefront of a second wave of SaaS innovation that goes well beyond a simple rip-and-replace of antiquated On Premise software. Millennials, Gen-Z and the younger generations only interact with consumer quality experiences and desire genuine recognition, community involvement and an underlying mission. In response, employers need to make work fun again. Large enterprises have almost universally deployed mission critical core HR and Payroll applications; however, niches remain for well-capitalized new entrants to disrupt. That said, the SMB market is underserved entirely and People-Centric HR offerings have a greenfield opportunity to exploit. Meanwhile, incumbents are keen to acquire the right startups to defend their moat while growth equity investors are in a frenzy to deploy their substantial capital to fund the next leg in a market with increasingly attractive valuations for quality companies. The people have spoken and they want software made for them, not just to track them.