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Killexams : Salesforce Salesforce answers - BingNews https://killexams.com/pass4sure/exam-detail/CRT-160 Search results Killexams : Salesforce Salesforce answers - BingNews https://killexams.com/pass4sure/exam-detail/CRT-160 https://killexams.com/exam_list/Salesforce Killexams : Salesforce is losing the key execs behind some of its biggest and most expensive bets at a critical moment

Slack CEO Stewart Butterfield, Salesforce co-CEO Bret TaylorNOAH BERGER/AFP via Getty Images, Salesforce

  • Salesforce is losing a number of key execs in the wake of Bret Taylor's departure.

  • Slack CEO Stewart Butterfield is also departing, along with some other product-focused execs.

  • The departures come as Salesforce's growth has slowed and it's facing tough questions.

Salesforce is in the midst of a serious brain drain at the highest levels. Last week, co-CEO Bret Taylor made the surprise announcement that he'd be departing the company.

Shortly afterwards came the news that Mark Nelson, the CEO of Salesforce subsidiary Tableau, and Steven Tamm, a CTO at the cloud tech giant, are also departing. In November, the company also said Gavin Patterson, the company's chief strategy officer who had previously been its chief revenue officer will depart at the end of January.

Then, earlier this week, Insider reported that Stewart Butterfield, CEO of Slack — the workplace chat app that Salesforce acquired in 2021 for $27.7 billion —will be leaving the company in the new year. Tamar Yehoshua, Slack's chief product officer, is also resigning, as is Slack senior VP of communications Jonathan Prince.

It's not clear if the timing of all these departures is anything more than coincidence: In a memo to employees, Butterfield wrote that his plans to depart have nothing to do with Taylor's, as Insider earlier reported.

Still, it comes at a critical moment for Salesforce and its now-sole CEO Marc Benioff. The company's stock is down some 48% from the beginning of the year, as the larger tech downturn takes its toll on the markets. Salesforce has warned investors that a slowing economy is making it more difficult to close deals as IT spending stalls out, even as investors push Benioff to demonstrate a commitment to improving its profit margins.

And the specific executives who are hitting the exits represent some of Salesforce's biggest bets on the future. Taylor himself was seen as a product visionary who would help Salesforce break into new markets, as seen when he masterminded the Slack acquisition. Indeed, Slack and Tableau represented Salesforce's two largest acquisitions in its history, as it invested in new lines of business.

The departures of Taylor, Butterfield, and Nelson come as Salesforce's strategy comes under the microscope on Wall Street.

With Slack and Tableau, Salesforce already had a lot to prove. Wall Street thought that the $27.7 billion it paid for Slack and the $15 billion for Tableau was far too steep given the company's financial situation. The scrutiny hasn't stopped.

"Growth has been slowing for years," Bernstein analysts wrote in a exact note to clients. "But that has not been readily apparent due to the cadence of large acquisitions which generate a multiyear tailwind to growth due to acquisition accounting."

Taylor, who had been COO of Salesforce before becoming co-CEO in 2021, championed the two as key to a strategy of building the company's platform into an all-in-one tool for sales, to service, to marketing and commerce, to data analysis. Slack would be the "digital HQ" where work gets done, while Tableau helps customers crunch the massive amounts of data stored in the Salesforce platform and turn it into useful insights.

Neither Slack nor Tableau is going anywhere. Salesforce has already said that Lidiane Jones, an executive VP, will take over for Butterfield as Slack CEO. She'll be working with Cal Henderson, Slack's CTO and cofounder, who remains in his role. And Salesforce has said that in the wake of Nelson's departure, Tableau will be rolled more closely into Salesforce's engineering organization.

What it does mean, however, is that Salesforce, Slack, and Tableau are all losing the biggest champions of the integrated product strategy right as the company faces hard questions.

Amid the chaos, however, some on Wall Street thinks there may be an opportunity.

While some of Salesforce's most experienced execs remain on Benioff's leadership team, including CFO Amy Weaver and COO Brian Millham, analysts think Benioff needs to recruit new leadership

Now could be a good time to recruit talent from a smaller rival or startup, Jaluria told Insider. The relative stability of Salesforce compared to a smaller startup during an uncertain economic environment would be a major draw.

"You need leadership that's focused on the next chapter of Salesforce and the way things should be done, not necessarily the way things have been done from the get go," RBC analyst Rishi Jaluria said last week at the time of Taylor's announcement.

Read the original article on Business Insider

Tue, 06 Dec 2022 03:21:00 -0600 en-US text/html https://www.yahoo.com/lifestyle/salesforce-losing-key-execs-behind-172135199.html
Killexams : Salesforce to expand Sustainability Cloud into full ESG reporting tool

Salesforce has always fashioned itself as a socially responsible company, and that includes working on a Net Zero carbon emissions goal. In fact, it launched Sustainability Cloud (now called Net Zero Cloud) in 2019, a product for tracking customer Net Zero goals. This year, they are taking that idea a step further with a new product that incorporates not only the environmental pieces, but also social and governance goals, all of which fall under the ESG umbrella.

Ari Alexander, GM for Salesforce Net Zero Cloud and Net Zero Marketplace, says the idea is to take advantage of the range of Salesforce tooling from MuleSoft for connecting to data sources to Tableau for data visualization to help companies better understand their progress towards ESG goals.

“ESG is a broad and very important trend where our customers are looking for help, direction and solutions, and increasingly we started hearing that they needed help with reporting, both voluntary and regulatory,” he said.

The amount of information required to build such reports can be a daunting task for those charged with the reporting requirements. “The solution needed to reach across their business to bring in data from many different sources and streamline their reporting. And so we decided it was time to kind of bring the full power of Salesforce to that problem and extend our Net Zero Cloud to broaden into a full ESG solution.”

ESG reporting is challenging in its current state, particularly because there is no common regulatory reporting framework for all of this data, other than for greenhouse gas reporting. “Whereas the E part of ESG has the Greenhouse Gas Protocol to guide it, that’s fairly well aligned as a global standard; when it comes to ESG reporting, that is very much still an alphabet soup of voluntary frameworks,” Alexander said.

What’s more, the regulatory bodies that are there are changing their requirements frequently, and it is expected that there will be in-country requirements in the not-too-distant future.

“So the specific kinds of data that we’re talking about, whether it’s emissions data, whether it’s diversity, equity and inclusion data, whether it’s data about suppliers and whether there are any kind of human rights flags or abuses anywhere deep in your supply chain, the kinds of things that companies are collecting or looking to put in one place and one single source of truth and report out on. There isn’t yet a clean and easy way to say this is good data or this is bad data on an unstructured dataset [like this],” he said.

He says the data can be reported to third-party auditors, however, and the tool is set up to allow that. “There is increasingly pressure on companies to take the data they’re reporting out more seriously, to provide some of the kinds of audit trails, so the Big Four audit firms can come in and look at enterprise data and have a point of view on whether the data that’s being shown to them is up to a certain standard when it comes to workflows and processes, transparency and being able to explain how you get to the kinds of numbers you report out on,” he said.

The full ESG reporting product is expected to be publicly available in the next couple of months.

Thu, 08 Dec 2022 07:45:00 -0600 en-US text/html https://techcrunch.com/2022/12/08/salesforce-to-expand-sustainability-cloud-into-full-esg-reporting-tool/
Killexams : Following Bret Taylor's departure, more top executives are leaving Salesforce

Hello, tech readers. Quick question: Have you gone "goblin mode" yet this year?

Maybe you have — even if you didn't realize it. Goblin mode, which was crowned Oxford English Dictionary's 2022 word of the year, means being unapologetically self-indulgent or lazy, "typically in a way that rejects social norms or expectations." 

I've got more on goblin mode below, but first, let's talk about Salesforce, which is seeing more executive departures this week.

I'm your host, Jordan Parker Erb. Let's get started.

If this was forwarded to you, sign up here. get Insider's app here.

Slack CEO Stewart Butterfield speaks at his company's Frontiers conference at Pier 27 & 29 on April 24, 2019, in San Francisco, California. NOAH BERGER/AFP via Getty Images © NOAH BERGER/AFP via Getty Images Slack CEO Stewart Butterfield speaks at his company's Frontiers conference at Pier 27 & 29 on April 24, 2019, in San Francisco, California. NOAH BERGER/AFP via Getty Images

1. Slack CEO Stewart Butterfield will exit Salesforce in January. The news of Butterfield's departure comes just days after Salesforce announced co-CEO Bret Taylor is also leaving the company — though Butterfield told staff the moves were unrelated. 

  • Butterfield posted his announcement, viewed by Insider, to an internal Slack channel at Salesforce on Monday morning, saying: "This has nothing to do with Bret's departure. Planning has been in the works for several months!"
  • According to the memo, Lidiane Jones, currently executive vice president and general manager of digital experiences clouds at Salesforce, will take over for Butterfield as CEO of Slack. Meet Jones here.
  • Butterfield's departure isn't the only exit to follow Bret Taylor's. A day after Taylor's announcement, Tableau's CEO and one of Salesforce's CTOs announced their exits. Here's a running list of the top execs who left Salesforce recently.

Read the memo Butterfield wrote to employees.

In other news:

PHILIP PACHECO/Getty, caracterdesign/Getty, Tyler Le/Insider © PHILIP PACHECO/Getty, caracterdesign/Getty, Tyler Le/Insider PHILIP PACHECO/Getty, caracterdesign/Getty, Tyler Le/Insider

2. Elon Musk gambled big on Twitter. Tesla is going to pay the price. Vicki Bryan, founder of a bond research firm, writes that she's never seen new management blow up a company as fast as Musk is destroying Twitter — and that he might have to raid Tesla to keep his new purchase afloat. Meanwhile, the company's former C-suite is set to receive $200 million in combined stock payouts after getting fired by Musk, if he abides by their contracts.

3. "Metaverse" lost the word of the year contest to "goblin mode." Oxford Languages, the publisher of Oxford English Dictionary, named "goblin mode" the 2022 Word of the Year — beating out semifinalist "metaverse." A look at what "goblin mode" means.

4. Inside the stunning unraveling of Bright Health. The health-insurance upstart went public in 2021 at a dizzying $11.2 billion valuation. But now, the company has taken a hatchet to most of its business as it works to stave off a collapse, and experts and insiders are blaming Bright's pursuit of rapid growth for its undoing. Read the full story.

5. Want an extra $2 per month? That's what Amazon is offering some customers who let it monitor the traffic on their phones. Under the company's new invite-only Ad Verification program, Amazon is tracking what ads participants saw, where they saw them, and when they were viewed. The program could raise privacy concerns over how Amazon handles customer data — see what we know so far.

6. Shopify told employees not to engage with tweets about its business ties with Libs of TikTok. A leaked memo shows that so many people have contacted Shopify about its hosting the controversial store that the e-commerce company issued specific guidance to customer-support representatives about how they should handle inquiries about the topic. What we learned from the leaked memo.

7. Tesla drivers say they've faced more incidents of road rage since they started driving the EVs. According to the Guardian, drivers claim they've faced more harassment, like being cut off in traffic and heckled, since they started driving the electric car. More on that here.

8. The EU hosted a party in its $400,000 metaverse, but pretty much no one showed up. One journalist who attended the 24-hour launch party said he was one of just six people at the event. More on the event here.

Odds and ends:

Best Buy; GoPro © Best Buy; GoPro Best Buy; GoPro

9. These are the best tech gifts for everyone on your list. We've been searching for the gifts people actually want, and have compiled a list of gifts you can get right now. From portable speakers to action cameras, here are our 33 top picks.

10. What is ChatGPT? The tool, which has reached over one million users in five days, is a new artificial intelligence chatbot that answers questions in a conversational, human-like way. See what the hype is about.

What we're watching today:

Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.

Mon, 05 Dec 2022 21:35:00 -0600 en-US text/html https://www.msn.com/en-us/money/other/following-bret-taylors-departure-more-top-executives-are-leaving-salesforce/ar-AA14XTnT
Killexams : Salesforce employees are bracing for more layoffs amid the company's major executive exodus Salesforce's Marc Benioff. NICHOLAS KAMM/AFP via Getty Images © Provided by Markets Insider Salesforce's Marc Benioff. NICHOLAS KAMM/AFP via Getty Images

Amid Salesforce's leadership shakeups, increasing pressure to make sales goals, and the influence of an activist investor, employees told Insider they're bracing for another round of layoffs.

"People are afraid it could come at any point," one employee told Insider.

Salesforce declined Insider's request for comment.

The company laid off hundreds of employees in November and has since enacted what some insiders called unrealistic new mandates primarily for salespeople, like making daily in-person meetings throughout the holiday season and returning to working in the office despite Marc Benioff's public statements saying workers were just as productive at home.

Rumors are swirling inside the company that more layoffs could come as soon as this month.

Some employees who spoke to Insider speculated much of these internal pressures might be related to the activist investor Starboard Value, which disclosed a significant stake in Salesforce in October, just before the layoffs. A person familiar with the matter told Insider the firm has pushed for cost-cutting measures since first approaching the company this summer.

Employees said these changes were indicative of a larger cultural shift at Salesforce. Where once the company was rated one of the best firms to work for, they said, its welcoming "Ohana" culture is being replaced by a ruthless prioritization of metrics and sales targets. Perhaps fittingly, even its most exact layoffs were referred to internally as a "performance management event."

Are you a Salesforce employee or do you have insight to share? Contact Ashley Stewart via email (astewart@insider.com) or send a secure message from a nonwork device via Signal (+1-425-344-8242).

Thu, 08 Dec 2022 05:39:52 -0600 en-US text/html https://www.msn.com/en-us/money/companies/salesforce-employees-are-bracing-for-more-layoffs-amid-the-companys-major-executive-exodus/ar-AA153WVC
Killexams : Salesforce Predicts Higher Profits, but Loses Another co-CEO -- Is It Time to Sell the Stock?

Investors decided to focus on the negative during Salesforce's (NYSE: CRM) third-quarter update: Co-CEO Bret Taylor is stepping down effective Jan. 31. Co-founder and co-CEO Marc Benioff will once again be the sole head of the enterprise software giant.  

This announcement overshadowed Salesforce's concurrent news that profits will be higher than previously forecast as the company finds ways to unlock efficiencies in the midst of an economic slowdown. But with Taylor deciding to exit, who was seen as a successor to Benioff, should investors move on and sell the struggling Salesforce stock?

Enduring growth and a new focus on cash generation

To answer this question, let's first consider the Q3 fiscal 2023 quarterly update (the three months ended in October 2022). Salesforce's results were quite good, with revenue increasing 14% year over year to $7.84 billion (versus management's predicted $7.83 billion). For Q4, revenue is expected to increase 8% to 10% year over year, not bad considering many businesses are delaying their spending on tech these days as a sharp economic slowdown looms headed into calendar year 2023.  

Also notable is that Salesforce is putting up these growth numbers in spite of the U.S. dollar's record run-up against foreign currencies – a side effect of the Federal Reserve's aggressive path of interest rate hikes as it tries to tame inflation. Excluding the impact of currency exchange rates, total revenue would have increased 19% in Q3. And excluding the further impact of the U.S. dollar in Q4, revenue growth is expected to be up about 11% to 13%.  

To illustrate just how disruptive the dollar has been, revenue growth in Europe and the Middle East was 10% in Q3, or 23% excluding currency headwinds. In the Asia and Pacific region (Australia and Japan, primarily), reported revenue growth was 14%, or 30% excluding exchange rates. Ouch!

Exchange rates aside, though, this slowing growth is a departure from Salesforce's track record of delivering at least 20% year-over-year revenue expansion. Instead, the company is focusing a bit more on profitability during these challenging times. And on that front, there was some more good news. Operating profit margin and adjusted operating profit margin are now expected to be 3.8% and 20.7%, respectively, for full-year fiscal 2023 (the 12 months that will end in January 2023). Previously, Salesforce had said to expect operating margin of 3.6%, or 20.4% on an adjusted basis.  

During its Q2 earnings update, Salesforce also announced its first-ever share repurchase program, which is a way tech companies return excess cash to shareholders. Salesforce delivered during Q3 and repurchased $1.7 billion worth of stock. 

A bad sign with Taylor leaving?

Then there's the matter of Taylor leaving Salesforce, just about a year after getting appointed co-CEO (he joined when his start-up Quip was acquired back in 2016). In a prepared announcement, Taylor said he wants to "return to his entrepreneurial roots," seemingly indicating he has ideas for a new start-up of some sort.  

This is the second co-CEO departure. Keith Block, who served alongside Benioff from 2018 to 2020, left to found and head investment firm Smith Point Capital. A revolving door at the co-CEO position isn't exactly a great look.  

But why bother with a co-CEO at all? There's a lot of speculation here, but many investors thought that the software innovation-minded Taylor was heir apparent to Benioff, who co-founded Salesforce all the way back in 1999. Getting a like-minded chief executive in the seat that can continue to propel Salesforce higher in this golden age for cloud computing is a must if Benioff has any ideas of retiring from leading his company. 

Nevertheless, Benioff being back in sole command isn't a bad thing, either. In just over two decades, Salesforce has become one of the largest software companies out there. The usually boisterous Benioff tends to play coy when asked about future plans on the CEO role, so investors will have to stay tuned for more information.

For now, though, this probably isn't a reason for investors to exit. Salesforce stock is already down some 40% this year with just a month left to go in 2022, clobbered by the bear market along with other technology names. Salesforce's historical focus on growth over profitability is the primary reason for the punishment, but it's making solid progress on stoking higher margins from its sprawling operations. Shares trade for 32 times expected current-year adjusted earnings per share, or 28 times trailing-12-month free cash flow.

Salesforce is still a growing business, it's an integral piece of the software suite used by thousands of organizations around the globe, and the cloud is still expanding at a rapid pace. Salesforce stock isn't cheap, but Benioff's empire is a clear leader in its space and is worth hanging on to as the economy works through its pandemic-related issues. 

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Thu, 01 Dec 2022 01:36:05 -0600 en-US text/html https://www.msn.com/en-us/money/companies/salesforce-predicts-higher-profits-but-loses-another-co-ceo-is-it-time-to-sell-the-stock/ar-AA14MUE6
Killexams : Salesforce, Inc. (NYSE:CRM) Q3 2023 Earnings Call Transcript

Salesforce, Inc. (NYSE:CRM) Q3 2023 Earnings Call Transcript November 30, 2022

Salesforce, Inc. beats earnings expectations. Reported EPS is $1.4, expectations were $1.22.

Operator: Good afternoon, ladies and gentlemen, and welcome to Salesforce's Fiscal 2023 Third Quarter Results Conference Call. At this time, all participants are in a listen-only mode, and please be advised that this call is being recorded. After the speaker's prepared remarks, there will be a question-and-answer session. And now at this time, I'll turn the call over to your speaker, Mr. Mike Spencer, Executive Vice President, Investor Relations. Please go ahead.

Mike Spencer: Thank you, Bo. Good afternoon, and thanks for joining us today on our fiscal 2023 third quarter results conference call. Our press release, SEC filings and a replay of today's call can be found on our website. With me on the call today is Marc Benioff, Chair and Co-CEO; Bret Taylor, Vice Chair and Co-CEO; Amy Weaver, Chief Financial Officer; and Brian Millham, President and Chief Operating Officer. As a reminder, our commentary today will include non-GAAP measures. Reconciliations between our GAAP and non-GAAP results and guidance can be found in our earnings and press release. Some of our comments today may contain forward-looking statements that are subject to risks, uncertainties and assumptions, which could change.

Should any of these risks materialize or should our assumptions prove to be incorrect, real company results could differ materially from these forward-looking statements. A description of these risks, uncertainties and assumptions and other factors could affect -- that could affect our financial results is included in our SEC filings, including in our most exact report on Forms 10-K, 10-Q and other SEC filings. Except as required by law, we do not undertake any responsibility to update these forward-looking statements. And with that, let me hand the call over to Marc.

Copyright: drserg / 123RF Stock Photo

Marc Benioff: Okay. Well, thank you so much, Mike, and thank you, everyone, for being on the call. I just want to come back to how great it was to see so many of you at Dreamforce in September. It was really a wonderful experience for me personally. It was our most successful, but I really think it was our most important Dreamforce ever, because we were able to come together for what we called our great reunion. And being with you all of you, especially at our IR day, that was a joy for me. Now let's get on to the quarter results. We delivered solid revenue growth and profitability in an increasingly challenging environment. You've seen how we're driving customer success, the strength of our organic innovation and this incredible Trailblazer community and how it manifested at the Dreamforce.

And everywhere we turn, we saw customers learning how to connect with their customers in entirely new ways and the depth of our Customer 360 platform. We're also thrilled to introduce Genie, which is our Customer Data Cloud, and it's one of the most transformational technologies we have ever delivered. And when you hear some of the metrics already coming out of customer adoption with Genie, I think that you'll be incredibly impressed, and I can't wait for Bret to talk about that. The best part of Dreamforce was being together. That was what it was all about for me, and I'm sure it was for you as well, and the 40,000 folks that all came to San Francisco to have this incredible experience and all the additional folks that joined us online. Now let's get to our results.

Revenue in the quarter, well, it was $7.84 billion. That's up 14% year-over-year. I think that's a record for us. And also, it was 19% in constant currency. And we're going to talk about that foreign exchange situation in just a second. We closed some amazing deals in the quarter with great companies like Bank of America, RBC Wealth Management and Dell and other great stories, and I'm also going to get that into a moment as well. And even with purchase decisions receiving greater scrutiny, we continue to gain market share and close marquee transactions. IDC recently ranked Salesforce as the number one in CRM. And now we've done that for nine years in a row. And I'm proud that we've delivered revenue growth in this environment, but especially proud of the team for our continued focus on delivering record operating margins.

And here, you can see now, up 22.7% non-GAAP operating margin we delivered for the quarter. And I think when I look back at various financial crisis, as we think back even, I think, to 2008, 2009, I think it was like somewhere down to 10%. So we've come a long way in a short period of time. So this quarter has been further proof of our commitment to profitable growth, continuing our operating margin growth, continued focus on our revenue growth, continued focus on our market share growth. And a great evidence of that is our remaining performance obligation. Our RPO is now an incredible $40 billion. Now, as I've said in the last few quarters, the dollar had a strong quarter, maybe even a stronger quarter than we had. I think that when we first said that, in the second quarter, folks didn't really understand what we were talking about, or maybe it wasn't the first quarter we said that.

I remember, it was a trip to Japan when I called Amy, and I was asking her what the expectations were for revenue. But when I told her what my guidance was for what and how I was looking at revenue, including foreign exchange, I don't think either one of us could believe what was really happening, and now we've really seen that start to play out. We continue to see the impact of foreign currency fluctuations. And of course, that is our biggest surprise of the year. In the quarter, we saw $300 million year-over-year headwinds to revenue, and we've expected a total of $900 million for the full year. Now that is something we just could not have expected a year ago, and that is when we initiated our revenue guidance. At Dreamforce and in my travels around the world, our customers have been asking how to best navigate this economic situation with the high level of market volatility and uncertainty.

A lot of CEOs have never been through these types of crisis before. They haven't seen these kind of variations in the market or in foreign exchange or even in market demand. Well, we've got a lot to say about that, because this is not our first financial crisis. And I'm seeing a lot of buying behavior that really reflects a lot of what we've seen during other crisis, whether it's 2008, 2009 or even 2001. And obviously, the current economic situation is nowhere near as severe as what happened beginning in 2008, but there are some patterns that we've seen repeat themselves. And in early 2008, we saw customers who are reluctant to expand distribution capacity, they weren't adding service people, they froze their hiring, they initiated headcount reductions.

We saw those occur in that year. We saw that in (ph) as well. I think that, maybe when things start to get a little tough or when the stock market shifts that's when CEOs say, hold on, should we be expanding distribution capacity right now? Should we be expanding service capacity? What do we stop -- let's stop our advertising, let's stop our marketing spend, things that they can immediately take actions on. Well, you couple that with foreign exchange headwinds have become an issue and everyone was shifting their focus to finding efficiencies, reducing their costs, increasing productivity, and again, we're feeling all of this once again. And that led us to the shift of the company. It took us a lot to how we operate and where we are investing our dollars.

We've actually developed our own playbook. We really wrote it all down. We talked about what was happening we knew would happen again. And we had to dust off some of those plans and numbers from 12, 13 years ago from 22 years ago. And we've turned that playbook in gaining market share and focusing on operational discipline and operational excellence, especially in the face of economic headwinds. And as the economy has started to recover, whether it's in 2010, or even in 2002, we were able to radically accelerate our growth. I have to tell you, when we went back as a team and we looked at the numbers, even I was really shocked to see kind of how things change some of the decisions that we made, but then how we all of a sudden were able to navigate so well, and use that as an opportunity to adjust the company in all -- in a number of really critical and strategic areas.

Now I've always believed since that point, especially, that an economic crisis creates these opportunities, and we're squarely in that moment, and we've acted. Starting in July of this year, the buying environment became more measured and foreign exchange headwinds were becoming increasingly complex. We told you then we didn't believe this challenging macro environment was going to be a short-term problem. And you know we're not economists. You know that we don't know exactly what is happening or when the recovery will happen, et cetera, but we do see a lot, and I think we understand a lot about what's going on, because we have such strong global data. And we're not assuming that this economy gets any better anytime soon. We're just reporting what we see with our customers, the kind of changes they make, when they start to feel these headwinds.

We're following our playbook to make sure we're well positioned to gain market share, to increase our profitability, to focus on our operating margin, to focus on the growth of our revenue and be able to continue to invest, especially when the economy recovers. Now for this fiscal year, we're maintaining our revenue guidance of $30.9 billion to $31 billion, up 17% year-over-year or 20% in constant currency. And you saw that, that also included that incremental foreign exchange headwind, and it's even an expected incremental $100 million of foreign exchange headwind just since last quarter. We're raising our fiscal year 2023 non-GAAP operating margin guidance from 20.4% to 20.7%, an expansion of 200 basis points year-over-year, and I expect a lot more, especially with this increased focus we have on expanding our operating margin.

Salesforce is mission-critical to nearly every Fortune 1000 company, because every company is becoming a customer company. And everyone knows that this is the time during a crisis like this that you need to focus on your customers. If you need to do one thing, if there's one critical thing that every company has to do to get through this, is to make sure they maintain their relationships with their customers. It's a critical part of navigating through this time, and you're not going to be successful if you don't stay connected with your customers. We're signing transformational deals with major brands, as every industry continues to digitally transform and that continues to be perhaps the most important initiative of every company, regardless of the economic situation.

When you look at this by industry, it's slightly different for each industry. In telecom, we're working with almost every major players. They transform how they connect with their customers. All telcos must deliver faster, better service to customers, keeping their costs down, focusing on their NPS score, becoming more competitive. We all know that. It's a highly competitive industry. We all understand the dynamics well. It's one of the reasons why we've done so well in all these global telecom companies. But I really want to talk to you about a great example, and this deal that we signed with T-Mobile in the quarter. Now we've done a lot of work with Mike and with T-Mobile over the years, and that's been very exciting to see how they built their company and especially how they've executed the merger and now they have a treeing amazing transformational opportunity on how they work with businesses, and we're working with them to develop a vision for the next-generation user experience for T-Mobile for Business and our professional services team is leading that charge.

Financial Services, well, that's another industry that's been going through one of the most incredible digital transformations, but it's an incredible moment for them actually. It's why we're working with all the major financial service companies to drive stronger client relationships and to unite their teams to be more effective, especially in this environment. It's a golden time for financial services in many ways. A great example is Bank of America, who I think has been a customer for more than 20 years, and we've been with them through many different financial crisis. But in a short amount of time, they've increased productivity and reduce their technical debt. They're saving time and money, they're connecting with their customers in new base.

It's a tremendous relationship with BofA to become their CRM standard. We're delighted to have such great success with them over many decades and to expand this relationship to the business bank, to the corporate bank and the investment bank, it's really an expansion. And I just want to thank Brian for his tremendous loyalty, but also his partnership over so many decades, and it's just a great organization to work with every single day. Well, before I go on, first of all, I want to supply you an invitation. I hope that, you'll all plan to join us in New York City next week, where we're going to host our Salesforce world tour on December 8. Join us in person or online, where we're going to announce some new innovations. And you're going to hear from our incredible customers and so much more.

Now before I end, I have to say something, and it's something that I did not want to say ever, and I'm extremely sad to tell you that, Bret Taylor is going to be leaving the company. Bret and I are like brothers. I love him very deeply. He's an incredible person. And one of the great joys of my company has been having him here. And I'll tell you, for me, this has been a feeling of tremendous loss. I'm experiencing that right now. You can probably hear it in my voice. It makes me think of all the great people that we have actually lost in the company over the time as well, so many great leaders of our industry, but especially now with Bret. This is just really hard for me, and I'm extremely sad to see him go. I know he has created two great companies.

I know he wants to go create a third great company. And you can't keep a wild tiger in a cage. And we got to let them be free and let him go, and I understand, but I don't like it. And Bret, you know that you're always going to be our brother. You know that you -- we love you very deeply, that you have a home here. We're going to try to get you back somehow. So don't think that you're going to somehow get out of this alive, because you're not. And you're always going to be part of our Ohana. And we are really upset about this, and it's going to be a difficult moment for us. But I know that you're going to be with us through the end of the year, and I know you're going to continue to work with us even after this point. But Bret, we love you, and we're so sorry to see you leave the company at the end of this year.

Bret Taylor: Thank you, Marc. It's hard to follow that and trying to keep my composure as well. I just want to start, Marc, by just expressing how deeply grateful I am to you. And just as importantly, the entire Salesforce team. For the past six-plus years, I just couldn't have imagined it when I joined the company, I could not be more proud of the trust, innovation and customer success we've delivered in my time here, particularly over the past few years, I think this amazing community has helped every organization in the world to remain connected to their customers amidst a public health crisis, the economic turmoil, this global pandemic. It's just incredible, and I'm incredibly grateful. And Marc, you personally, you've been my mentor long before I joined this company.

And in the past six years, your relationship has definitely become the most significant in my professional career. I would not be the leader, I am today without you, and I cannot thank you enough for our friendship and our partnership. The past few years have been tumultuous for all of us, and I've recently been reflecting what's been truly important to me. And while there is absolutely no easy time for a transition like this, I really do feel that now is the right time for me to return to my entrepreneurial roots, particularly given the technology landscape and the economy going through such tectonic shifts. Salesforce has never been stronger, and I've never been more confident in the future of the company. And as Marc said, I will remain as co-CEO through the end of the fiscal year, not only to ensure a smooth transition, but most importantly, to ensure that we have a strong close to the quarter and a strong close to the fiscal year.

And as Marc said, even after this transition, I will always, always be a part of this company and always be a part of this community. As Marc said, we had a solid quarter, top -- double-digit top and bottom line performance, demonstrating the strength of our business model and our commitment to operating with discipline and delivering profitable growth at scale. We continue to deliver on organic innovation, and our product portfolio is strategically positioned, mission-critical and highly differentiated. Our ecosystem and our app exchange marketplace are unparalleled in the industry. And as Marc mentioned, as you saw at Dreamforce, our innovation engine is an overdrive, with Genie, Slack canvas, Net Zero Marketplace and more, building on our position as a leader in nearly every CRM category.

Genie, in particular, makes every part of our Customer 360 platform more automated, intelligent and real-time, driving faster time to value for our customers. And the adoption of Genie by our customers, particularly this past Cyber week, has exceeded all of our expectations. The Genie Customer Data Cloud is already processing literally over 100 billion customer records on average every single day. During Cyber Week alone, Genie ingested an astonishing 1.1 trillion records and enabled 43 billion consumer engagements for our customers. Inter, a leading digital banking service company in Brazil, is a great example of Genie's power. Inter was able to consolidate six data systems into one, and they are converting 35 times more customers with Genie.

Like Marc, I met with hundreds of CEOs across every industry over the last few months. In this buying environment, our customers are increasingly focused on three things. First is time to value. Our customers need to quickly get the benefits of their technology investments. Second is ensuring these digital transformation projects drive cost savings in addition to customer satisfaction and top line growth. And third, we know our customers need to consolidate their platforms and vendor relationships to reduce complexity and risk and to drive efficiency. We are delivering on all three at scale today for our customers. Our customers are seeing on average an estimated 25% in savings in their IT costs and 26% increase in employee productivity using Salesforce according to a exact survey of more than 3,500 of our customers.

RBC Wealth Management is a great example. RBC is onboarding new customers in minutes instead of days, and they've consolidated over 26 technology systems into one using our Customer 360 platform, decreasing their maintenance costs by 50%. Despite the economic headwinds that Marc mentioned, we had record low revenue attrition again this quarter, which is a testament to just how mission-critical Salesforce is to our customers, especially in this environment. We also launched new product bundles for sales, service, marketing and analytics. These product bundles are enabling our customers to consolidate their tools on Salesforce, driving efficient growth. We're also closing transformational deals and multi-cloud expansions. This quarter, seven of our top 10 deals included five or more of our clouds.

Now let's turn to the cloud performance. Sales Cloud, our flagship, continues to drive sales productivity for the world's most important brands. Sales Cloud grew 12% year-over-year, a healthy 17% in constant currency, including great customer wins at companies like Bolt, Snowflake and Thermo Fisher. Service Cloud continues to help our customers deliver exceptional customer service experiences and reduce their customer service costs. Service Cloud grew 12% year-over-year or 16% in constant currency, approaching $2 billion in revenue for the quarter, with wins at Carl Zeiss, Dell and Fujitsu. Our Marketing and Commerce Clouds power the digital customer experiences for the world's greatest retailers and browns around the world, and together grew 12% year-over-year or 18% in constant currency, thanks to wins at companies like Banco Bradesco, Hugo Boss and Slack.

We just passed Black Friday and Cyber Monday, and I want to express my gratitude to our engineering teams. Our engineering teams again delivered unparalleled mission-critical reliability and scale to retailers around the world. Even lapping the pandemic, the sales process for our Commerce Cloud in Cyber Week increased 11% year-over-year. And our Marketing Cloud delivered nearly 49 billion messages in Cyber Week alone, up 21% year-over-year. We've now sent 1.4 trillion messages from our Marketing Cloud so far this year, just incredible. Our platform business, which includes Slack, grew 18% or 22% in constant currency, highlighted by wins at Japan Airlines, WorkSafe, Victoria and Zoom. Einstein Artificial Intelligence platform is now generating 194 billion predictions every single day across the Salesforce Customer 360 platform, up 57% year-over-year.

And Slack, which now powers collaboration and workflows across the entire Customer 360, grew 46% year-over-year. Slack is now handling more than 2.6 billion actions every single day and had great wins this quarter with companies like Rivian and Verizon. Data, which includes MuleSoft and Tableau, continues to be core to every digital transformation at every single one of our customers. Data grew 13% year-over-year or 16% in constant currency. We're seeing strong demand from MuleSoft, which reaccelerated in the quarter to 19% year-over-year growth or 23% in constant currency, with wins at brands like Western Union, SmileDirectClub and Kona. Integration transactions on the MuleSoft platform grew to $6.7 billion per day, up 33% year-over-year. Tableau grew at 8% year-over-year or 9% in constant currency, with wins in the quarter at Inter and McLaren Racing.

As a reminder, due to the way we recognize revenue in MuleSoft and Tableau, when the macro environment is difficult, we typically see the effects earlier and more pronounced in these businesses. We're confident in the opportunity ahead for Tableau, and we recently made changes to reaccelerate Tableau growth. This includes new leadership, and as importantly, new product integrations like revenue intelligence, a deep integration between Sales Cloud and Tableau that has become one of our fastest-growing add-on products. And finally, as we mentioned every quarter, our industry solutions continue to be a strength in our portfolio, with out-of-the-box processes that enable our customers to achieve faster time to value and lower implementation costs.

Even with the many successes in the quarter, we expect this increasingly challenging buying environment to continue next year. I'm confident that, Salesforce has never been more mission critical to our customers in this environment. And to wrap, I'm so grateful for our employees, our 80 million Trailblazers, and all of our customers and partners for helping lead the way with innovation, agility and resilience to navigate in these times. And before I pass it to you, Amy, I just want to express my personal gratitude to you. As I became the first-time CEO and you became a first-time CFO navigating the company and navigating our customers through these crisis, I'm so grateful for our relationship and for everything this company has done for me.

See also Top 15 Infrastructure Companies in the US and 15 Most Capitalist Companies in the World.

Amy Weaver: Great. Bret, thank you. And let me just start by saying you, it has truly been a joy to work with you for the last six years. I am going to miss you carefully, but I'm also equally excited for you on your next steps, and I know they will be incredible success again. So taking that left turn to our results here. I am pleased to report another quarter of double-digit top and bottom line growth. Despite increasing macro pressure, revenue grew nearly 20% in constant currency. And as we discussed at our Investor Day in September, it's a new day for profitability. I'm very proud of our Salesforce team and all of our employees for generating record operating margin during Q3. Reiterating Marc's comments, profitable growth is a major focus as we lean in on best-in-class operational excellence across all aspects of our business.

As customers focus on optimizing time to value, driving cost savings and consolidating platforms and vendor relationships, we remain well positioned to support them through the current economic environment. Now to our results for Q3 fiscal year 2023, I'll begin with top line commentary. Total revenue for the third quarter was $7.84 billion, up 14% year-over-year, or 19% in constant currency. Foreign exchange continued to be a headwind to our results, as the dollar further strengthened throughout the quarter. For Q3, the total FX impact was $300 million, approximately $50 million more than we had forecast. A few highlights from the quarter. Again, as we outlined at Investor Day, we have three balanced growth pillars: Customer 360 Advantage, industry solutions and geographical expansion.

All of these continue to reflect the growing adoption of our portfolio across our customer base. First, multi-cloud adoption by our customer base continues. Customers with five or more clouds increased ARR by over 20%. Second, our industry solution continues to be a strong tailwind to our revenue growth. Seven of our 13 industry clouds grew ARR above 50% this quarter. In some of the highest performing industries, clouds in the quarter included energy and utilities, manufacturing and our recently announced Automotive Cloud. Finally, from a geographical perspective, Americas grew 16% year-over-year, EMEA grew 10%, 23% in constant currency, and APAC grew 14%, which is 30% in constant currency. And as you have heard, revenue attrition in Q3 was again below 7.5%, reflecting the value that our services are providing to the customer base in this tough operating environment.

Q3 non-GAAP operating margin was a strong 22.7%, driven by our ongoing focus on disciplined execution, our hiring slowdown and resource prioritization. Q3 GAAP EPS was $0.21 and non-GAAP EPS was $1.40. Mark-to-market accounting of the company's strategic investments increased GAAP and non-GAAP EPS by $0.02. Operating cash flow was $313 million in Q3, down 23% year-over-year. CapEx $198 million, resulting in free cash flow of $115 million, down 52% year-over-year, both driven by lower billings. Turning to remaining performance obligation, which represents all future revenue under contract. RPO ended Q3 at approximately $40 billion, up 10% year-over-year. Current remaining performance obligation, or CRPO, was approximately $20.9 billion, up 11% year-over-year and 15% in constant currency.

This includes one point of incremental FX headwinds beyond our Q3 guidance. And finally, Q3 was a milestone corridor for Salesforce. After announcing our first ever share repurchase program on the last earnings call, I am pleased to share that we returned $1.7 billion to shareholders during Q3. Before moving to our guidance, I'd like to comment on the current economic environment. You recall that last quarter we noted measured customer buying behavior really beginning in July. This led to elongated sales cycles, additional deal approval layers and deal compression, particularly in enterprise. As Q3 progressed, we saw an even more challenging buying environment, driving intense customer scrutiny on every investment dollar to ensure the highest return possible.

During Q3, this behavior was most pronounced in our US and major European markets, while Japan remains more resilient. From an industry perspective, the most impacted was retail, consumer goods and communications and media, while the more resilient for travel and hospitality, manufacturing, automotive and energy. And from a product perspective, we continue to see customer spending pressure in commerce and marketing. Now to our guidance. First, on revenue, we are pleased to maintain our fiscal year 2023 revenue guidance of $30.9 billion to $31 billion representing 17% growth year-over-year or 20% in constant currency despite an incremental $100 million FX headwind since our last call. This raises the total year-over-year FX headwind to $900 million.

In addition, our guidance includes flat at slightly above $1.5 billion. As you've already heard, we are deeply committed to expanding our profitability over the long term. I am proud that, we are raising our fiscal 2023 non-GAAP operating margin guidance to 20.7%, an increase of 200 basis points year-over-year. And this guidance also includes approximately 75 basis points of headwind from Slack. As a reminder, because our regional revenue and expenses are generally in the same currencies, there tends to be a natural FX hedge in our operating margin. For Q4, we expect GAAP EPS of $0.23 to $0.25 and non-GAAP EPS of $1.35 to $1.37. For the full year, we expect GAAP EPS of $0.55 to $0.57 and non-GAAP EPS of $4.92 to $4.94. CRPO growth for Q4 is expected to be approximately 7% year-over-year or 10% in constant currency.

This guidance continues to incorporate the more challenging trends in our customer behavior, as previously discussed. We now expect our fiscal 2023 operating cash flow guidance to be approximately 16%, which is at the lower end of our previous guidance, driven by lower billings. This includes a three-point headwind from cash taxes associated with tax law changes, requiring the capitalization certain R&D costs. We now expect CapEx to be approximately 2.5% of revenue for the fiscal year. This results in free cash flow growth of approximately 17% for the fiscal year. Before I close, I'd like to share a few thoughts on fiscal year 2024. As discussed, we are experiencing a very unpredictable macro environment as our customers are looking to ensure their businesses are also healthy for the long term.

Compounding that dynamic is an unprecedented foreign currency market. Therefore, at this time, we believe it will be pretty sure to provide revenue guidance for the next fiscal year. Now in terms of operating margin, we are driving operating discipline and following our playbook that Marc discussed to ensure that we are consistently expanding our operating margin in the face of top line headwinds. And as the leadership team, we're continuing to take a hard look at our cost structure. This is all part of our playbook, and we will continue to take steps that drive profitable growth. Of note, we intend to provide full FY 2024 guidance on our fourth quarter earnings call. So to close, we are helping our customers navigate the current macro environment by bringing much needed efficiencies to their digital strategy with a compelling value case.

Our commitment to disciplined decision-making is unwavering, and we are marching towards our fiscal 2026 target of at least 25% non-GAAP operating margin, inclusive of any capital allocation decision. And as our business grows, we will continue to target returning on average 30% to 40% of free cash flow annually to our shareholders. Now, Mike, should we open up the call for questions.

Mike Spencer: That's good. Thank you, Amy. Bo, we'll go to Q&A and we'll take the first question.

To continue practicing the Q&A session, please click here.

Wed, 07 Dec 2022 05:22:00 -0600 en-US text/html https://finance.yahoo.com/news/salesforce-inc-nyse-crm-q3-182351421.html
Killexams : Salesforce ends CEO job share – again. Marc Benioff back as sole boss © Provided by The Register

Bret Taylor returns to entrepreneurial roots after losing his gig as chair of Twitter

Salesforce has again unwound its CEO job share arrangement, with co-CEO Bret Taylor announcing he will leave the company in January 2023 – leaving Marc Benioff occupying the one remaining big chair.…

The SaaS giant has tried sharing the CEO's job before: from 2018 to 2020 Keith Block shared the gig with Benioff. But that arrangement ended when Block departed without an explanation but with thanks and warm hugs, because he stayed on as an advisor.

Taylor at least explained why he.s leaving. "After a lot of reflection, I've decided to return to my entrepreneurial roots" he said, in a canned statement.

Opportunities to exercise his entrepreneurial muscles have been hard to come by for Taylor in 2022. He was chair of Twitter's board so had plenty of drama to deal with during Elon Musk’s on-again, off-again, on-again bid for the microblogging service. Taylor steered the deal to completion and was then fired for his troubles.

On Salesforce's Q3 2023 earnings call on Thursday, Benioff was asked if Salesforce intends to appoint another co-CEO. He didn't answer the question, but expressed confidence in the quality of Salesforce's senior management team.

"We're still in a little bit of shock and extremely sad and feeling of our loss for losing Bret," he added.

Benioff also marked Taylor's departure on Twitter by sharing data on Salesforce's revenue trajectory. A near-identical tweet was Taylor's first public act as co-CEO.

Salesforce's earnings call featured typically robust numbers.

Revenue of $7.84 billion was up 14 percent year on year, and produced net income of $210 million – a drop from $468 million in 2021's corresponding quarter. Exchange rate issues slugged the company to the tune of $300 million in the quarter.

Benioff said Salesforce achieved margins of 22.7 percent, but aims to hit 25 percent or above by FY 2026. Customers are apparently happy with this: execs said Salesforce's wares have proven they save money for users, and Salesforce is confident it can pull it off given it increased margin during the economic down years of 2008 and 2009.

The soon-to-be-sole CEO also said Salesforce staff now attend the office 50 percent of the time, but noted that just as factory workers kept going to work during the pandemic, the SaaS company now has workers who really need to be on site each day to do their jobs.

But he also feels that the world of work has changed.

"I do think that we're going to have a rebalancing," Benioff said. "I think even at Salesforce, we have what I would call factory jobs – folks that are required to be here, whether they are doing maybe very core work or even new folks who don't have maybe the tribal knowledge yet or need the mentorship or folks coming in from college who benefit from being in the office."

"But we're never going back to how it was. We all know that." ®

Wed, 30 Nov 2022 15:05:29 -0600 en-US text/html https://www.msn.com/en-us/money/companies/salesforce-ends-ceo-job-share-again-marc-benioff-back-as-sole-boss/ar-AA14LurW
Killexams : Salesforce CPQ Consulting Service Market 2023 | Size, Share, Trend and Outlook of Regulatory Scenario by 2028 with Top Countries Data

The MarketWatch News Department was not involved in the creation of this content.

Dec 06, 2022 (The Expresswire) -- Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this industry.

"Salesforce CPQ Consulting Service Market" Insights 2022 - By Applications (Large Enterprises, SMEs), By Types (Online Service, Offline Service), By Segmentation analysis, Regions and Forecast to 2028. The Global Salesforce CPQ Consulting Service market Report provides In-depth analysis on the market status of the Salesforce CPQ Consulting Service Top manufacturers with best facts and figures, meaning, Definition, SWOT analysis, PESTAL analysis, expert opinions and the latest developments across the globe., the Salesforce CPQ Consulting Service Market Report contains Full TOC, Tables and Figures, and Chart with Key Analysis, Pre and Post COVID-19 Market Outbreak Impact Analysis and Situation by Regions.

Salesforce CPQ Consulting Service Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2021, at unexpected CAGR during the forecast Period 2022-2028.

Browse Detailed TOC, Tables and Figures with Charts that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, Salesforce CPQ Consulting Service, which accounted for % of the global market of Salesforce CPQ Consulting Service in 2021

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Salesforce CPQ Consulting Service Market Report identifies various key players in the market and sheds light on their strategies and collaborations to combat competition. The comprehensive report provides a two-dimensional picture of the market. By knowing the global revenue of manufacturers, the global price of manufacturers, and the production by manufacturers during the forecast period of 2022 to 2028, the reader can identify the footprints of manufacturers in the Salesforce CPQ Consulting Service industry.

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Salesforce CPQ Consulting Service Market - Competitive and Segmentation Analysis:

Salesforce CPQ Consulting Service Market Reportproviding an overview of successful marketing strategies, market contributions, and exact developments of leading companies, the report also offers a dashboard overview of leading companies' past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Salesforce CPQ Consulting Service Market.

The Major players covered in the Salesforce CPQ Consulting Service market report are:

The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report: Breakdown data in in Chapter 3. ● Coastal Cloud
● SevenPoints
● Simplus
● Code Zero
● Algoworks
● Corrao Group
● rackspace
● ATG Consulting
● Uptima
● IBM
● Wipro
● Internet Creations
● Chetu
● Keste
● Cloudsquare
● Original Shift
● Spaulding Ridge
● Standav
● AblyPro
● Ad Victoriam Solutions
● AppShark
● Plative
● Red Sky
● A5
● Centric Consulting
● Dupont Circle Solutions
● ForceBrain
● Mountain Point
● NexGen Consultants
● Salesforce

Short Description About Salesforce CPQ Consulting Service Market:

The Global Salesforce CPQ Consulting Service market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Highlights

The global Salesforce CPQ Consulting Service market is projected to reach USD million by 2028 from an estimated USD million in 2022, at a CAGR of % during 2023 and 2028.

North American market for Salesforce CPQ Consulting Service is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.

Asia-Pacific market for Salesforce CPQ Consulting Service is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2022 through 2028.

The major global companies of Salesforce CPQ Consulting Service include mbn

The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report: Breakdown data in in Chapter 3., Coastal Cloud, SevenPoints, Simplus, Code Zero, Algoworks, Corrao Group, rackspace, ATG Consulting, Uptima, IBM, Wipro, Internet Creations, Chetu, Keste, Cloudsquare, Original Shift, Spaulding Ridge, Standav, AblyPro, Ad Victoriam Solutions, AppShark, Plative, Red Sky, A5, Centric Consulting, Dupont Circle Solutions, ForceBrain, Mountain Point, NexGen Consultants, Salesforceetc. In 2021, the world's top three vendors accounted for approximately % of the revenue. The global market for Salesforce CPQ Consulting Service is estimated to increase from USD million in 2022 to USD million by 2028, at a CAGR of % during the forecast period of 2022 through 2028. Report Scope This report aims to provide a comprehensive presentation of the global market for Salesforce CPQ Consulting Service, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Salesforce CPQ Consulting Service. The Salesforce CPQ Consulting Service market size, estimations, and forecasts are provided in terms of output/shipments (K PCs) and revenue (USD millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. This report segments the global Salesforce CPQ Consulting Service market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments. The report will help the Salesforce CPQ Consulting Service manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

Get a sample Copy of the Salesforce CPQ Consulting Service Report 2022

Salesforce CPQ Consulting Service Market is further classified on the basis of region as follows:

● North America (United States, Canada and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Turkey etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam) ● South America (Brazil, Argentina, Columbia etc.) ● Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Salesforce CPQ Consulting Service Market Research/Analysis Report Contains Answers to your following Questions

● What are the global trends in the Salesforce CPQ Consulting Service market? Would the market witness an increase or decline in the demand in the coming years? ● What is the estimated demand for different types of products in Salesforce CPQ Consulting Service? What are the upcoming industry applications and trends for Salesforce CPQ Consulting Service market? ● What Are Projections of Global Salesforce CPQ Consulting Service Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export? ● Where will the strategic developments take the industry in the mid to long-term? ● What are the factors contributing to the final price of Salesforce CPQ Consulting Service? What are the raw materials used for Salesforce CPQ Consulting Service manufacturing? ● How big is the opportunity for the Salesforce CPQ Consulting Service market? How will the increasing adoption of Salesforce CPQ Consulting Service for mining impact the growth rate of the overall market? ● How much is the global Salesforce CPQ Consulting Service market worth? What was the value of the market In 2020? ● Who are the major players operating in the Salesforce CPQ Consulting Service market? Which companies are the front runners? ● Which are the exact industry trends that can be implemented to generate additional revenue streams? ● What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Salesforce CPQ Consulting Service Industry?

Customization of the Report

Our research analysts will help you to get customized details for your report, which can be modified in terms of a specific region, application or any statistical details. In addition, we are always willing to comply with the study, which triangulated with your own data to make the market research more comprehensive in your perspective.

Inquire more and share questions if any before the purchase on this report at -https://www.360researchreports.com/enquiry/pre-order-enquiry/20351966

Detailed TOC of Global Salesforce CPQ Consulting Service Market Insights and Forecast to 2028

1 Salesforce CPQ Consulting Service Market Overview
1.1 Product Overview and Scope of Salesforce CPQ Consulting Service
1.2 Salesforce CPQ Consulting Service Segment by Type
1.2.1 Global Salesforce CPQ Consulting Service Market Size Growth Rate Analysis by Type 2022 VS 2028
1.3 Salesforce CPQ Consulting Service Segment by Application
1.3.1 Global Salesforce CPQ Consulting Service Consumption Comparison by Application: 2022 VS 2028
1.4 Global Market Growth Prospects
1.4.1 Global Salesforce CPQ Consulting Service Revenue Estimates and Forecasts (2017-2028)
1.4.2 Global Salesforce CPQ Consulting Service Production Estimates and Forecasts (2017-2028)
1.5 Global Market Size by Region
1.5.1 Global Salesforce CPQ Consulting Service Market Size Estimates and Forecasts by Region: 2017 VS 2021 VS 2028
1.5.2 North America Salesforce CPQ Consulting Service Estimates and Forecasts (2017-2028)
1.5.3 Europe Salesforce CPQ Consulting Service Estimates and Forecasts (2017-2028)
1.5.4 China Salesforce CPQ Consulting Service Estimates and Forecasts (2017-2028)
1.5.5 Japan Salesforce CPQ Consulting Service Estimates and Forecasts (2017-2028)
1.5.6 South Korea Salesforce CPQ Consulting Service Estimates and Forecasts (2017-2028)

2 Market Competition by Manufacturers
2.1 Global Salesforce CPQ Consulting Service Production Market Share by Manufacturers (2017-2022)
2.2 Global Salesforce CPQ Consulting Service Revenue Market Share by Manufacturers (2017-2022)
2.3 Salesforce CPQ Consulting Service Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.4 Global Salesforce CPQ Consulting Service Average Price by Manufacturers (2017-2022)
2.5 Manufacturers Salesforce CPQ Consulting Service Production Sites, Area Served, Product Types
2.6 Salesforce CPQ Consulting Service Market Competitive Situation and Trends
2.6.1 Salesforce CPQ Consulting Service Market Concentration Rate
2.6.2 Global 5 and 10 Largest Salesforce CPQ Consulting Service Players Market Share by Revenue
2.6.3 Mergers and Acquisitions, Expansion

3 Production by Region
3.1 Global Production of Salesforce CPQ Consulting Service Market Share by Region (2017-2022)
3.2 Global Salesforce CPQ Consulting Service Revenue Market Share by Region (2017-2022)
3.3 Global Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)
3.4 North America Salesforce CPQ Consulting Service Production
3.4.1 North America Salesforce CPQ Consulting Service Production Growth Rate (2017-2022)
3.4.2 North America Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)
3.5 Europe Salesforce CPQ Consulting Service Production
3.5.1 Europe Salesforce CPQ Consulting Service Production Growth Rate (2017-2022)
3.5.2 Europe Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)
3.6 China Salesforce CPQ Consulting Service Production
3.6.1 China Salesforce CPQ Consulting Service Production Growth Rate (2017-2022)
3.6.2 China Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)
3.7 Japan Salesforce CPQ Consulting Service Production
3.7.1 Japan Salesforce CPQ Consulting Service Production Growth Rate (2017-2022)
3.7.2 Japan Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)
3.8 South Korea Salesforce CPQ Consulting Service Production
3.8.1 South Korea Salesforce CPQ Consulting Service Production Growth Rate (2017-2022)
3.8.2 South Korea Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)

4 Global Salesforce CPQ Consulting Service Consumption by Region
4.1 Global Salesforce CPQ Consulting Service Consumption by Region
4.1.1 Global Salesforce CPQ Consulting Service Consumption by Region
4.1.2 Global Salesforce CPQ Consulting Service Consumption Market Share by Region
4.2 North America
4.2.1 North America Salesforce CPQ Consulting Service Consumption by Country
4.2.2 United States
4.2.3 Canada
4.3 Europe
4.3.1 Europe Salesforce CPQ Consulting Service Consumption by Country
4.3.2 Germany
4.3.3 France
4.3.4 U.K.
4.3.5 Italy
4.3.6 Russia
4.4 Asia Pacific
4.4.1 Asia Pacific Salesforce CPQ Consulting Service Consumption by Region
4.4.2 China
4.4.3 Japan
4.4.4 South Korea
4.4.5 China Taiwan
4.4.6 Southeast Asia
4.4.7 India
4.4.8 Australia
4.5 Latin America
4.5.1 Latin America Salesforce CPQ Consulting Service Consumption by Country
4.5.2 Mexico
4.5.3 Brazil

5 Segment by Type
5.1 Global Salesforce CPQ Consulting Service Production Market Share by Type (2017-2022)
5.2 Global Salesforce CPQ Consulting Service Revenue Market Share by Type (2017-2022)
5.3 Global Salesforce CPQ Consulting Service Price by Type (2017-2022)

6 Segment by Application
6.1 Global Salesforce CPQ Consulting Service Production Market Share by Application (2017-2022)
6.2 Global Salesforce CPQ Consulting Service Revenue Market Share by Application (2017-2022)
6.3 Global Salesforce CPQ Consulting Service Price by Application (2017-2022)

7 Key Companies Profiled
7.1 Company 1
7.1.1 Company 1 Salesforce CPQ Consulting Service Corporation Information
7.1.2 Company 1 Salesforce CPQ Consulting Service Product Portfolio
7.1.3 Company 1 Salesforce CPQ Consulting Service Production, Revenue, Price and Gross Margin (2017-2022)
7.1.4 Company 1 Main Business and Markets Served
7.1.5 Company 1 exact Developments/Updates

Continued..

8 Salesforce CPQ Consulting Service Manufacturing Cost Analysis
8.1 Salesforce CPQ Consulting Service Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Salesforce CPQ Consulting Service
8.4 Salesforce CPQ Consulting Service Industrial Chain Analysis

9 Marketing Channel, Distributors and Customers
9.1 Marketing Channel
9.2 Salesforce CPQ Consulting Service Distributors List
9.3 Salesforce CPQ Consulting Service Customers

10 Market Dynamics
10.1 Salesforce CPQ Consulting Service Industry Trends
10.2 Salesforce CPQ Consulting Service Market Drivers
10.3 Salesforce CPQ Consulting Service Market Challenges
10.4 Salesforce CPQ Consulting Service Market Restraints

11 Production and Supply Forecast
11.1 Global Forecasted Production of Salesforce CPQ Consulting Service by Region (2023-2028)
11.2 North America Salesforce CPQ Consulting Service Production, Revenue Forecast (2023-2028)
11.3 Europe Salesforce CPQ Consulting Service Production, Revenue Forecast (2023-2028)
11.4 China Salesforce CPQ Consulting Service Production, Revenue Forecast (2023-2028)
11.5 Japan Salesforce CPQ Consulting Service Production, Revenue Forecast (2023-2028)
11.6 South Korea Salesforce CPQ Consulting Service Production, Revenue Forecast (2023-2028)

12 Consumption and Demand Forecast
12.1 Global Forecasted Demand Analysis of Salesforce CPQ Consulting Service
12.2 North America Forecasted Consumption of Salesforce CPQ Consulting Service by Country
12.3 Europe Market Forecasted Consumption of Salesforce CPQ Consulting Service by Country
12.4 Asia Pacific Market Forecasted Consumption of Salesforce CPQ Consulting Service by Region
12.5 Latin America Forecasted Consumption of Salesforce CPQ Consulting Service by Country

13 Forecast by Type and by Application (2023-2028)
13.1 Global Production, Revenue and Price Forecast by Type (2023-2028)
13.1.1 Global Forecasted Production of Salesforce CPQ Consulting Service by Type (2023-2028)
13.1.2 Global Forecasted Revenue of Salesforce CPQ Consulting Service by Type (2023-2028)
13.1.3 Global Forecasted Price of Salesforce CPQ Consulting Service by Type (2023-2028)
13.2 Global Forecasted Consumption of Salesforce CPQ Consulting Service by Application (2023-2028)
13.2.1 Global Forecasted Production of Salesforce CPQ Consulting Service by Application (2023-2028)
13.2.2 Global Forecasted Revenue of Salesforce CPQ Consulting Service by Application (2023-2028)
13.2.3 Global Forecasted Price of Salesforce CPQ Consulting Service by Application (2023-2028)

14 Research Finding and Conclusion

15 Methodology and Data Source
15.1 Methodology/Research Approach
15.1.1 Research Programs/Design
15.1.2 Market Size Estimation
15.1.3 Market Breakdown and Data Triangulation
15.2 Data Source
15.2.1 Secondary Sources
15.2.2 Primary Sources
15.3 Author List
15.4 Disclaimer

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To view the original version on The Express Wire visit Salesforce CPQ Consulting Service Market 2023 | Size, Share, Trend and Outlook of Regulatory Scenario by 2028 with Top Countries Data

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Mon, 05 Dec 2022 16:28:00 -0600 en-US text/html https://www.marketwatch.com/press-release/salesforce-cpq-consulting-service-market-2023-size-share-trend-and-outlook-of-regulatory-scenario-by-2028-with-top-countries-data-2022-12-06 Killexams : Salesforce Q3 earnings preview: what to watch

Customer spending, employee layoffs and key executive exits, the rollout of Salesforce Genie, strategies around Slack and the presence of an activist investor are some of the things investors will look for when the enterprise applications vendor reports earnings Wednesday for the third quarter of its fiscal year.

Salesforce will hold third-quarter earnings this week, according to the company.

Despite Salesforce cutting guidance during the previous quarterly earnings report, multiple investment firms have issued positive reports around the customer relationship management software provider and the potential that it can beat lowered expectations.

What to expect from Salesforce’s Q3 2022 earnings report

A November report from Morgan Stanley even said Salesforce is in the “best position” in an environment of slow demand and low valuations, alongside work management vendor Smartsheet.

The report noted average software stocks down 45-plus percent year to date. Morgan Stanley expects cautious fourth quarter revenue predictions from multiple vendors.

Here’s what you need to know.

Customer spending

One of the biggest reveals during Salesforce’s previous quarterly earnings was the softening of customer purchasing amid economic slowdown in the United States. Analysts will no doubt look for more signs from Salesforce of how economic conditions are affecting the business.

According to a November report from Morgan Stanley, interviews with Salesforce channel partners gave the investment bank confidence in Salesforce passing the worst of the effects of the economic slowdown.

“While our channel conversations were mixed for the second consecutive quarter during Q3, partner commentary suggests macro headwinds consistent with those observed towards the end of Q2, leading us to believe concerns around a more meaningful slowdown in growth near term are likely overblown given a lack of material worsening of the environment in August through October,” according to the report.

In August, Salesforce cut its guidance for how much it expects to make this fiscal year, with co-founder and CEO Marc Benioff saying that Salesforce expects to see between $30.9 billion and $31 billion in revenue, about 17 percent growth year over year, but keeping the same 20.4 percent operating margin.

It was the second haircut to guidance this year from Salesforce. In March, the company said it expected between $32 billion and $32.1 billion in revenue for the year. Then in May, the company decreased the guidance to between $31.7 billion and $31.8 billion.

Benioff said that, back in July, he and his team saw “customers becoming more measured in the way they buy” and sales cycles “get stretched” with deals “inspected by higher levels of management.”

“Nearly everyone I’ve talked to is taking a more measured approach to their business,” he said. “We expect these trends to continue in the near term.”

Co-CEO Bret Taylor echoed Benioff. “We’re in a more measured buying environment,” he said. “Executive teams are scrutinizing all purchasing decisions, and we are seeing some deals take longer to close. I personally met with over 100 CEOs this quarter in my travels across Latin America, Europe and North America. And digital transformation remains their top priority.”

Taylor continued: “But the focus of the conversation has shifted meaningfully toward productivity, efficiency and time-to-value. In this environment, our Customer 360 portfolio is uniquely positioned to enable our customers to deliver both growth and cost savings.”

Employee changes

Salesforce has shed employees and seen major leadership changes since its last quarterly earnings report. Analysts will likely seek answers on the effect these changes have had on the company’s bottom line.

The company confirmed this month that President and Chief Strategy Officer Gavin Patterson will leave Jan. 31. In August his role changed to chief strategy officer from his earlier title of chief revenue officer.

In a November report, investment bank KeyBank said it looked forward to the earnings call for “further commentary” given the “relatively quick departure for Gavin Patterson, who will only have served as president and chief strategy officer for six months.”

Tableau channel chief Julie Bennani is also no longer with the company, which plans to roll out a combined Tableau, MuleSoft and Salesforce partner program to partners starting Feb. 1.

In October, Salesforce confirmed that it “ended contracts with some temporary recruiting contractors,” with former employees posting on LinkedIn to say “90+” Salesforce employees were gone. The next month, plans by Salesforce to lay off hundreds of workers came to light. Salesforce has more than 70,000 workers.

Salesforce Genie roll out

In September, during Salesforce’s annual Dreamforce conference, the company unveiled Genie, a feature co-CEO Taylor called “the most significant shift to the Salesforce platform” in 20-plus years.

The real-time customer data platform runs on the Hyperforce Salesforce public cloud infrastructure and aims to ingest and store real-time data streams at a massive scale and unite them with transactional data.

The platform can bring data from mobile, web, application programming interfaces (APIs), legacy data using Salesforce subsidiary MuleSoft, historical data from proprietary data lakes and other means, according to Salesforce.

Genie makes a unified customer profile record called a graph and allows actions on the graph across Customer 360, including in industry services, AppExchange and custom applications.

Analysts might look for signs the feature is opening up new opportunities for the vendor.

Slack and cloud strategies

Analysts will likely look for any updates around Slack, which Salesforce bought last year for $27.7 billion.

A report from investment firm Wedbush was positive about the cross-selling potential among other Salesforce products and Slack.

“We also note the Slack deal is starting to gain traction within the CRM ecosystem and we believe is starting to result in cross-sell opportunities across the board speaking to the underlying potential for this controversial acquisition looking ahead,” according to the report.

Wedbush also praised Salesforce’s efforts around getting customers to buy multiple cloud products. Four-plus clouds representing about 20 percent of total customers, about 85 percent of total annual recurring revenue, according to the firm. Wedbush expects the number to grow.

Starboard looms

Activist investment firm Starboard Value revealed a stake in Salesforce back in October, saying that the company “Represents an Opportunity to Own a High-Quality and Sticky Business at an Attractive Valuation with the Potential for Significant Value Creation Through a Better Balance of Growth and Profitability,” according to a presentation.

If analysts don’t ask about Starboard directly, they may look for signs that the firm is helping Salesforce increase its margins.

For Salesforce, which is working toward $50 billion in revenue by fiscal year 2026, “as growth has slowed, the company has not yet produced margins expected from its leadership position” in customer relationship management (CRM), according to Starboard.

“Salesforce has not realized the benefits of operating leverage over the last several years, and the Company has generated significantly lower incremental margins than peers” Oracle, Microsoft, Adobe, Intuit, SAP, Workday and ServiceNow, according to Starboard.

The presentation put Salesforce at No. 1 in marketing campaign management, customer service applications and model-driven application platforms. It put Salesforce at No. 2 in analytics software, integration software, digital commerce applications and the collaboration market.

Starboard founder Jeff Smith told CNBC in a televised interview that he and his New York-based firm want to see Salesforce focus more on operating margins and improving value for shareholders.

“Salesforce is a great company, really a terrific company,” Smith told CNBC. “Salesforce is ingrained in the fabric of so many companies and has become so important in the way they operate and conduct business.”

But, he continued: “They’re not dropping as much to the bottom line. They haven’t been as focused on operating margins as we think, maybe, they should be.”

This article originally appeared at crn.com

Mon, 28 Nov 2022 23:19:00 -0600 text/html https://www.crn.com.au/news/salesforce-q3-earnings-preview-what-to-watch-588439
Killexams : Salesforce may eliminate more downtown San Francisco office space in the future File photo of Salesforce West. © Smith Collection/Gado/Getty Images

File photo of Salesforce West.

The city’s largest private employer could continue to downsize its office footprint, executives said in a exact earnings call.

Salesforce CEO Marc Benioff said there will continue to be flexibility for employees who want to work from home, while Chief Financial Officer Amy Weaver said the software company is continuing to evaluate its real estate holdings. Salesforce did not respond to a request for comment as of publication.

"Over the past two years, we have continued to re-imagine our real estate strategy,” Weaver said on the call. “That is not only to optimize for scale but also continue hybrid work environment and how people are working and how they're using their space. And this has included reducing our footprint fairly significant right now."

Salesforce has already begun eliminating some office space in San Francisco. The company listed nearly half of its office space at 50 Fremont St., the 43-story Salesforce West tower, in July 2022. It will maintain ownership of the building and may reoccupy the space in the future, a Salesforce spokesperson told SFGATE at the time. It also canceled a 325,000-square-foot lease at the unbuilt Parcel F tower in San Francisco’s Transbay neighborhood in March 2021.

“We are subleasing floors in Salesforce West to make the most efficient use of our real estate footprint,” the statement said at the time. “As the largest private employer in San Francisco, we are deeply committed to the city and are actively welcoming employees back to Salesforce Tower."

Salesforce laid off hundreds of employees in November 2022, just a month after eliminating around 90 people in October. It has also frozen hiring until January 2023.

The company has over 10,000 employees in the Bay Area. Despite downsizing in San Francisco, it announced in a March blog post its plans to open Salesforce Towers in Tokyo, Dublin, Sydney and Chicago over the next two years.

San Francisco recently hit a record high in office space vacancy.

Fri, 02 Dec 2022 13:12:00 -0600 en-US text/html https://www.msn.com/en-us/news/us/salesforce-may-eliminate-more-downtown-san-francisco-office-space-in-the-future/ar-AA14Q8NE
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