What are the factors that drive customer stickiness for Procol and could they evolve over the next few years as the company continues to grow?

Two things are the main drivers for stickiness. One, the solution the company starts with and then implements, onboards multiple functions in the same company on the Procol platform. Which means if you are integrated PR to PO, you are getting intakes from different internal functions of what they want to buy and send out purchase orders. That's internal functionality. 

The second one is the number of vendors that you have onboarded on Procol. Once you have onboarded your vendors on Procol, it's very hard to switch to a different network to consider your B2B procurements on. And so that is the major switching costs that companies face, even with the likes of Ariba and Coupa that have won the market share in the U.S. market. It's very hard to replace these companies because of these reasons.

While a front-end solution, like a marketing tech or sales tech, is easier to replace as you grow, a procurement tech is not replaced as you grow. It is adopted more as you grow because you make the decision once, and you scale with it. This is what we have seen as the trend of the west currently.