May 10, 2018 • 08:00 am ET

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Q & A
Operator
Operator

Thank you. (Operator Instructions). Our first question today comes from Jeff Meuler from Baird. Please go ahead.

Analyst
Nick J. Nikitas

Yeah, good morning, guys. You got Nick Nikitas on for Jeff.

Executive
Thomas J. Manning

Good Morning.

Analyst
Nick J. Nikitas

Good morning. Tom, you mentioned a potential step change in margins coming out of the review, but it also sounds like other areas -- you talked about automation, process changes, that could involve somewhat more significant near-term spend. So can you just talk about your comfort level with the amount of investment currently in the business? I guess, is this just about shifting around the level of spend or could it be a near-term step-up related to some of the changes?

Executive
Thomas J. Manning

Yes. Thank you for the call. With regard to our plans, we're really looking at the full cost base of the business as well as our revenue potential in total and reviewing all of that. We are putting together a number of actions, as I indicated, that are really PE playbook style actions that would enable us to establish a real headstrong approach to taking cost out of the business, eliminating the complexity that has been part of our problem, as I referred to, and clearing the way for additional growth.

So it's with that notion in mind that we're reviewing the business. I think the McKinsey work has really been strong to-date. I've been directly involved in it weekly. And it's very akin to what I've done in part of my career, so I'm very familiar with the techniques and so on. So I am confident that we're actually going to be able to take a real strong approach to generating additional cost savings, but additional revenue growth as well.

Analyst
Nick J. Nikitas

Okay. Thanks. And just with the Phase One complete, were there areas of opportunity that were maybe a little surprising to you, either data sets or solutions that haven't been emphasized in the past and could be areas for significant opportunity coming out of the review? Or is it just really -- it sounds like a lot of it just seems to be execution on your end?

Executive
Thomas J. Manning

Well, I think there is a good deal of validation in Phase One around our current strategies and the spaces in which we currently operate. We were encouraged by some of the recognition of upside opportunities in some of our younger businesses, such as the Compliance business and the Audience-based solutions business. So we're clearly mindful of that as we plan for the future, because we think those will represent continued growth opportunities for us.

Analyst
Nick J. Nikitas

Okay. And then, just last one on the organic revenue growth, I know you're not providing an outlook for 2018, which is understandable given the amount of changes that are ongoing, but just given the Q1 growth and trend versus Q4 and some of the timing items you guys called out in the quarter, any additional info you can give there and just would you expect a full-year trend to improve from that current level?

Executive
Richard H. Veldran

Yeah, here's