Deluxe Corporation

in our payments and data businesses, where we have a major technical replatforming of some of our data capabilities, continuing to build out our software offerings within the payment space. And then a third big capital project that we're deploying both this year and into next year is an investment in our printing technology to modernize the manufacturing process for our check production. And so those are sort of the three big buckets. It's investment in the check printing capabilities, it's continuing to push our payments software services forward, and it's investment in our data business. Very good. Thank you very much.

Your next question comes from Lance Petenda with Cohen.

Guys, let me jump back in here. I did also want to ask you about corporate overhead, which I noticed was down sequentially. And I'm wondering if that reduction was sort of seasonal or was there something that had made the 1Q number higher than it normally would have been? And really just thinking about how we should think about the second half of the year directionally on the corporate overhead line. Any color there would be helpful. Sure, Lance. There is some seasonality from Q1 into Q2 that explains part of that. So maybe let's have the conversation and talk about it year over year from a Q2 perspective. Corporate was up a few million dollars. That is entirely explained by the reintroduction of some employee benefits that have been paused during COVID. If you exclude that one timer, which will conclude at the end of this year and be in their baseline, corporate overhead year over year was flat. We should think about that in this inflationary environment. I think that tells you how much cost that we've taken out of the corporate line. It is a heavy area of focus for us to drive efficiency there. And, in fact, with the strong revenue growth, corporate as a percent of sales was down 70 basis points year over year. So, you know, to the earlier questions around driving productivity, corporate is something that we're always focused on and continue to get more efficient there. Thank you.

At this time, I will turn the call back to Tom Morabito for any closing remarks.

Thanks, Erica. Before we conclude, I'd like to mention that management will be participating in the following conferences. Susquehanna Financial's 2022 Get Carded, a payments and fintech conference, tomorrow, August 5th. Wells Fargo's 7th Annual Fintech and Technology Services Forum on August 9th. And CL King's Best Ideas Conference 2022 on September 12th. Thank you again for joining us today, and we look forward to speaking with you in November as we share our third quarter 2022 results.

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