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Salesforce is a global leader in enterprise cloud computing, with a focus on customer relationship management.
In February 2000, the firm introduced its initial CRM platform, and since then, it has added new editions, solutions, features, and platform capabilities.
Salesforce is a cloud-based corporate software company that specialises in customer relationship management, allowing businesses to better engage with and understand their customers.
Cloud technologies, mobile technologies, social technologies, and Internet of Things (IoT) technologies are among the company's key emphasis areas.
Salesforce's business strategy is centred on cloud subscriptions. Salesforce's cloud CRM (Customer Relationship Management) services, which include everything from sales to marketing, account for over 92 percent of the company's revenue.
Professional services account for the majority of the remaining revenue. In 2017, the company made $8.39 billion in sales.
Salesforce.com has made a profit and plans to increase its products.
Salesforce.com Inc., a four-year-old customer relationship management (CRM) software business, revealed Monday that it turned a profit in its first fiscal quarter, marking a watershed moment in the company's history as a forerunner of the hosted application services trend.
According to a statement made in connection with a corporate overview delivered at the J.P. Morgan 31st Annual Technology and Telecom Conference in San Francisco, Salesforce.com achieved roughly 1% profit on revenue of more than $18.8 million in its first quarter, February through April. The revenue is up from $9.6 million the year before and $15.9 million in the fourth quarter of 2002, according to the business.
It was not immediately possible to obtain information on the magnitude of the company's losses thus far. Because the corporation is private, it is not subject to the same reporting obligations that apply to publicly traded companies in the United States.
In an interview with the IDG News Service, business CEO and Chairman Marc Benioff remarked, "Salesforce.com has proved that the software service model is lucrative, durable, and bankable."
"[Salesforce.com] customers like AOL can afford any sort of software they want, but they've heard about the system-implementation horror stories," Benioff said of in-house CRM software installations. The comparatively short amount of time necessary to get up and running and use hosted software, compared to creating applications in-house, is what attracts clients of all sizes to the notion of hosted apps, according to Benioff.
Salesforce.com had more than 86,000 active users in 6,400 accounts at the end of the first quarter, with the system being used in 10 languages and 110 countries, according to the business. Pearson Packaging Systems, Engage Inc., a producer of advertising and marketing software, and Mimeo Inc., an online document creation service, were among the new clients it disclosed during the quarter. Fortune 500 corporations are also customers of the company.
The firm announced updates to its Enterprise Edition in the first quarter, including capabilities tailored to large enterprises. Improved activity management, faster ways to update sales lead information, and the ability to see attachments and hyperlinks in the self-service portal feature are just a few of the new features.
Salesforce.com managers have stated in recent months that the business intends to expand its product range to include enterprise resource planning (ERP) applications. That was verified by Benioff on Monday.
Salesforce.com is developing its own order management, contract management, and billing and invoicing software components internally, with intentions to make them available to external clients by the end of the year, he added. He added the business intends to offer the same choice of software modules as large ERP companies like SAP do in the future.
Salesforce.com competes with businesses like UpShot Corp., Salesnet Inc., and NetLedger Inc. in the hosted CRM industry, according to Sheryl Kingstone, an analyst at The Yankee Group in Boston. Salesforce.com is regarded as a market leader, according to her.
Kingstone stated, "Salesforce.com has done tremendously well." "They've spent a significant amount of money promoting and educating potential clients about the advantages of hosted application services."
She claims that now that the industry knows the benefits of hosted apps, resistance to the concept is more cultural than technological.
She pointed out that many of Salesforce.com's earliest clients were firms that had attempted and failed to install in-house solutions. "With personnel who have already experienced the hardship of installing CRM solutions, the organisation has done exceptionally well."
However, she claims that the firm has not yet exploited all of the low-hanging fruit in the sector of hosted apps. She stated, "There are still a lot of nice apples to be plucked."
As the firm grows its product portfolio, new rivals in the accounting and ERP fields will emerge. According to Kingstone, the market for this sort of software for medium-sized businesses is fragmented. Large suppliers, such as Microsoft Corp., are likewise trying to get into the medium-sized business.
Offline reporting is one area that Salesforce.com might improve, according to her. Users frequently need to alter reports when offline from the internet and would prefer more advanced capabilities in Salesforce.com's software to allow them to do so, she added.
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