Exhibit (c)(9)

Discussion Material March 2025

Process Overview 2 Buyer Outreach 14 7 4 2 2 Introductory Conversations Held Parties Engaged with Process Letter Engaged in Due Diligence Sessions IOI Received (1/31) Updated IOI (3/24)

Relevant Potential Financial / Strategic Partners for Virgil Parties Engaged With Process Letter Inbounded 3 Others Financial Sponsors Strategics Considered EV | Market Cap: $150.5 | $126.1bn EV / CY25E EBITDA: 14.8x EV | Market Cap: $39.5 | $25.0bn EV / CY25E EBITDA: 8.4x EV | Market Cap: $9.9 | $8.1bn EV / CY25E EBITDA: 6.8x ( or ) ( or ) ( ) Others ( or ) ( ) EV | Market Cap: $72.0bn | $69.1bn EV / CY25E EBITDA: 22.3x 3/24 Bids EV | Market Cap: $32.1 | $25.7bn EV / CY25E EBITDA: 13.7x EV | Market Cap: $205.7 | $195.2bn CY25E P/E(1): 18.1x EV | Market Cap: $4.7 | $5.2bn EV / CY25E Rev: 17.7x Strategic Inbounds Source(s): FactSet, Broker Research. Market data as of 03/26/2025. 1. P/E is primary valuation methodology used by Wall Street analysts.

Other Inbounds Received 4 Party Inbounding Contact(s) Status Notes Inbounds in response to 3/13 Bloomberg article Advent / Medius • Eric Noeth, Partner • Bo Huang, Partner • Sebastian Garcia, Principal • 3/26: Upcoming call with Sebastian • 3/14: Advent inbounded asking about Virgil, mentioning their investment in Medius American Express • Scott Callard, VP Corporate Development • 3/24: Upcoming call with Scott • 3/17: Scott inquired about Virgil and asked for call to learn more about “initial process considerations” Harvest Partners • Alex Tofel, VP • 3/24: Alex inbounded regarding Virgil; mentioned that they would likely be exploring as a junior capital / co-invest opportunity and/or partnering with a large sponsor Hg Capital • Farouk Hussein, Partner • 3/20: Call held with Farouk • 3/13: Farouk inbounded asking about Virgil, among other topics Insight Partners • Kevin Hurth, Managing Director • Andrew Starker, VP • 3/31: Upcoming call with Kevin • 3/25: Kevin inbounded asking about Virgil to get an update on the process; call scheduled Norwest Venture Partners • Chris Sondej, Principal • Sameer Kapur, VP • Aidan Greenstein, Investor • 3/26: Upcoming call with Aidan • 3/17: Chris inbounded regarding Virgil; mentioned that deal would likely be too large for them but would potentially be interested to co-invest with larger sponsor; Chris notes other NVP investments in the supplier management space including Supplier.io and SourceDay Silver Point • Alyssa Vandris, Director • 3/25: Alyssa shared private credit fund overview materials • 3/24: Alyssa inbounded regarding Virgil noting they could be constructive in providing debt financing packages for buyers to consider Veritas Capital • Todd Herlihy, Partner • 3/27: Upcoming call with Todd • 3/25: Todd inbounded regarding Virgil to get an update on the process Vista • Monti Saroya, Senior Managing Director • Adrian Alonso, Managing Director • 3/17: Adrian inbounded asking if it makes sense to re-engage, FT Partners said we are sorting through inbounds from the leak and would revert back on any relevant update, if any Inbounds prior to 3/13 Bloomberg article BILL • Rene Lacerte, CEO • Mid-April: Mike and Rene to discuss network-of-network initiative and potentially processing BLL transactions on AvidPay Network • 3/5: Rene sent follow-up note saying it was a misunderstanding from his team that Virgil was evaluating strategic options; Rene confirmed he would be available to connect with Mike in person over dinner on 3/24 • 2/27: Rene reached out to Mike asking to catch up. Rene said he has heard from another investment bank that Virgil was evaluating strategic options Corpay • Ron Clarke, CEO • Non-specific ongoing dialogue

Appendix

Overview of Potential Financial Partners for Virgil Considered Parties Engaged with Process Letter (Minority) 6 Others

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