Strategic suppliers aren't just the ones you spend the most on. A vendor doing background checks for new users might have low spend but counts as strategic because the service is built into your core platform. Reviews happen quarterly or semi-annually to keep classifications current.
We come from, you know, the e-commerce industry, which has a mix of technology and marketplace. So for us also, you know, the definition keeps changing. At the time of COVID it was different. Today it is different. We are ensuring that, you know, every quarter, every 6 months, we look at, you know, which supplier falls under strategic. For us, you know, the definition is as simple as it should not be only spend-based. It should be, you know, critical to business also. For example, if I talk about even the smaller vendor who does the background check for, you know, any earner who's coming on the platform. The spend might be just a couple of million dollars, but it is a critical supplier because they're integrated with, you know, the app.
