专家电话会议评估客户关系管理（CRM）过渡期间支付的重要性

Hannes Leitner * | Equity Analyst44 (0) 20 7548 4712 | hleitner@jefferies.comMarco Maglioli * | Equity Analyst+44 (0)20 7029 8626 | mmaglioli@jefferies.comCharles Brennan * | Equity Analyst44 (0) 20 7548 4140 | cbrennan@jefferies.comShimoni Agarwal * | Equity Associate+44 (0)20 7029 8192 | shimoni.agarwal@jefferies.com Standing Room Only (SRO), Classy, Aventri (e-touches), Mail Chimp, Survey Monkey, Wealth-X, Quip, Smartsheet, iATS and etc. Asia Society is a cultural nonprofit organization.*Members of the Media and the Press are not authorized to be on this call. If you are from the Mediaor the Press, please do not register or dial in.*Please see important disclosure information on pages 3 - 7 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. We would like to thank Octavian Popescu, employee of Evalueserve Inc., for providing research support services to our preparation of this report.Analyst Certification:I, Hannes Leitner, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) andsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations orviews expressed in this research report.I, Marco Maglioli, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) andsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations orviews expressed in this research report.I, Charles Brennan, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) andsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations orviews expressed in this research report.I, Shimoni Agarwal, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) andsubject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations orviews expressed in this research report.Registration of non-US analysts:Hannes Leitner is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/qualified as a research analyst with FINRA. This analyst(s) may not be an associated person of Jefferies LLC, a FINRA member firm, and therefore maynot be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held bya research analyst.Registration of non-US analysts:Marco Maglioli is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/qualified as a research analyst with FINRA. This analyst(s) may not be an associated person of Jefferies LLC, a FINRA member firm, and therefore maynot be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held bya research analyst.Registration of non-US analysts:Charles Brennan is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/qualified as a research analyst with FINRA. This analyst(s) may not be an associated person of Jefferies LLC, a FINRA member firm, and therefore maynot be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held bya research analyst.Registration of non-US analysts:Shimoni Agarwal is employed by Jefferies International Limited, a non-US affiliate of Jefferies LLC and is not registered/qualified as a research analyst with FINRA. This analyst(s) may not be an associated person of Jefferies LLC, a FINRA member firm, and therefore maynot be subject to the FINRA Rule 2241 and restrictions on communications with a subject company, public appearances and trading securities held bya research analyst.As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receivescompensation based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate,but various regulations may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports arepublished at irregular intervals as appropriate in the analyst's judgement.Investment Recommendation Record(Article 3(1)e and Article 7 of MAR)Recommendation PublishedRecommendation DistributedCompany Specific DisclosuresExplanation of Jefferies RatingsBuy - Describes securities that we expec