“And as far as we can see, the mainframe software will maintain perhaps mid-single digit growth, not maybe high-single digit growth going into next year.”

In context

“nable and have a lot more value for our clients in terms of the innovation we are delivering them as well as our ability to manage the cost and complexity that they have, as they're all leveraging technology to drive a much larger part of their own businesses. That's kind of the macro. And under that, the fact that 7% of our Software growth this year was organic in this last quarter, not at all acquisitive, gives us confidence about how well that software is being used. 80% of our software is actually now on a recurring revenue basis, that is up significantly over the last few years. Those all tell us real demand in that part of the portfolio. If I turn around and say, it's 80% there, and it generated 10%, that gives us confidence on the organic base of software even going into next year. And as far as we can see, the mainframe software will maintain perhaps mid-single digit growth, not maybe high-single digit growth going into next year. But that gives us really good tailwinds for what we're trying to do there. And while I called out HashiCorp, which has sort of already been announced, we do expect, as we get through that deal, to do a lot more M&A even going into next year. And since our cash flows have gone up from four years ago, that gives us more ability to do M&A without any other actions to speak of. On your Consulting side, while the last year and if I go more than four years ago, have been flat or negative, the confidence we're getting there is from the quality of the signings and from the yields that we expect. The overall signings this year have been lower than last year. But if the signings didn't yield, then they don't mean very much. So it's the yields we worry about. And the backlog that we get that we worr”