Was I shocked? A little bit. Initially, folks were telling me that they had started to lose some clients, but not too many. They were adding clients as fast as they departed.
I am beginning to think that the initial losses may have been organic, and potentially regional. The number of startup companies that I am working with right now has remained steady, and they are very excited about getting into a business that is relatively stable during economic turmoil - and they are very aware of what they are doing.
Let me point out that December, January, and February are not exactly prime-time for getting an Accounting Professional on the phone to talk about software. If my own, qualitative analysis of new business coming my direction is any indicator... things are looking REALLY good for payroll.