Arthur J. Villasanta – Fourth Estate Contributor
San Francisco, CA, United States (4E) – Cloud-based software company Salesforce.com, Inc is now at its strongest as companies shift their operations to become more cloud-reliant.
Chairman and co-CEO Marc Benioff made this claim, saying Salesforce’s third-quarter earnings report beat analysts’ earnings and revenue expectations. He said the company’s upbeat results were bolstered by growth stemming from its recent acquisition of MuleSoft.
“If you don’t have a digital, one-on-one relationship with your customer, you’re just not going to be that successful.”
Benioff said Salesforce faces a bright outlook for the fourth quarter and will remain strong through fiscal year 2020. This quarter’s revenue was “way beyond” Salesforce’s internal expectations,” according to Benioff.
“The third quarter was phenomenal,” he said. “You see we’re giving phenomenal guidance for the fourth quarter and, certainly, we’re all praying and hoping to improve on that … And now, we can see a strong fiscal year ahead, and fiscal year ’20 as well.”
Benioff likes the situation Salesforce finds itself in, despite a perceptible slowdown in the tech sector.
“I don’t think the company’s ever been stronger or been in a better position. And the reason why is every company that we’re dealing with is going through a huge digital transformation and every digital transformation begins and ends with the customer,” said Benioff.
As for the tech deceleration, Benioff said the concerns were largely overblown, as evidenced by Salesforce’s and its competitors’ end markets.
“All the players are doing well because every company is going through this customer transformation. Who’s not going through a customer transformation?
“Everywhere I go in the world, this is happening, and it’s been going on and it’s not going to stop anytime soon. And you said it right: it’s about sales, it’s about service, it’s about marketing, it’s about commerce, it’s about analytics, it’s about applications, it’s about building community, or, in the case of one great customer that we have, DuPont, it’s about integration.”
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