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Salesforce nCino 201 Commercial Banking Functional
https://killexams.com/pass4sure/exam-detail/Salesforce-nCino-201 Question: 45
True or False? A Limit or a Sub Limit adds additional exposure to the overall hierarchy.
B. False Answer: B Question: 46
True or False: A Limit or Sub Limit adds additional exposure to the overall hierarchy.
B. False Answer: B Question: 47
When configuring Credit Memo, which section resource should be used to display information from a child object to
D. MappedSObjectScreenResource Answer: C Question: 48
True or False: The roles used in loan team member alerts configuration are the standard Salesforce roles.
B. False Answer: B Question: 49
True or False? When you log a call, you are also given the ability to create a follow-up task on the same page, if
B. False Answer: A Question: 50
True or False: Once the entire Loan term is defined, the payment structure data from the first payment stream is
pushed back to the loan object and saved. This overwrites existing data on the loan object.
B. False Answer: A Question: 51
True or False: An approval process can fire email alerts to a group of users.
B. False Answer: A Question: 52
The Decline Loan button is at the top of the ______ page.
D. Relationship Answer: D Question: 53
True or False? A Change Memo is used to request an approval to change terms, rate, amount, etc. AFTER the Loan
has already been approved but BEFORE the Loan has been closed/booked.
B. False Answer: A Question: 54
True or False: Appending tool- OR action- to the beginning of an App Name on the Route object will make the
Route display in the Magic Wand.
B. False Answer: A Question: 55
Which child object of a Covenant Management record can have multiple records? (Select 2).
A. Covenant Type
B. Covenant Compliance
C. Account Covenant
D. Loan Covenant Answer: B,D
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Salesforce Salesforce student - BingNews
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https://killexams.com/exam_list/SalesforceSalesforce raises guidance but sees pressure as customers back away from big consulting deals
Salesforce CEO Marc Benioff attends the TIME100 Gala at Jazz at Lincoln Center in New York on April 26, 2023.
Dimitrios Kambouris | Getty Images
Salesforce reported an earnings and revenue beat and lifted its full-year earnings guidance, but the stock dropped as much as 7% in extended trading as capital costs were higher than analysts expected.
Here's how the company did:
Earnings: $1.69 per share, adjusted, vs. $1.61 per share as expected by analysts, according to Refinitiv.
Revenue: $8.25 billion, vs. $8.18 billion as expected by analysts, according to Refinitiv.
Capital expenditures in the quarter totaled $243 million, up about 36% and above the $205 million consensus among analysts polled by StreetAccount.
Concerns about costs overshadowed the company's 11% increase in revenue for the quarter that ended on April 30. Net income totaled $199 million, or 20 cents per share, up from $28 million, or 3 cents per share, in the year-earlier quarter.
For the fiscal second quarter, Salesforce expects earnings of $1.89 to $1.90 per share on an adjusted basis and revenue of $8.51 billion to $8.53 billion. Analysts surveyed by Refinitiv had expected $1.70 in adjusted earnings per share and $8.49 billion in revenue.
Salesforce raised its earnings forecast for the 2024 fiscal year but left its revenue forecast intact. It's now calling for $7.41 to $7.43 in adjusted earnings per share on $34.5 billion to $34.7 billion in revenue. In March, Salesforce's projected adjusted earnings of $7.12 to $7.14 per share. Analysts polled by Refinitiv had been looking for adjusted earnings of $7.14 per share and fiscal-year revenue of $34.65 billion.
CEO Marc Benioff said in the statement that the company "significantly exceeded" its operating margin target for the quarter. Salesforce is now calling for an adjusted operating margin of 28% for the 2024 fiscal year, up 1 percentage point from the 27% forecast it gave in March.
But there are challenges facing Salesforce. Clients are still looking carefully at deals, which are taking longer to close than they were in the past, Chief Operating Officer Brian Millham said on a conference call with analysts. Now, the company is looking at how to automate the selling process on the low end of the market and make its salespeople more productive, he said.
During the quarter, "our professional-services business started to see less demand for multiyear transformations and in some cases, delayed projects as customers focus on quick wins and fast time-to-value," Millham said.
The company expects those issues to remain, said Amy Weaver, Salesforce's finance chief.
"One of the things that we are seeing right now is not only professional services as a whole seeing pressure, but more customers are choosing to contract on the time and materials basis," she said.
During the quarter, Salesforce announced Einstein GPT generative artificial intelligence technology designed to help salespeople, marketers and customer-service agents do their jobs more efficiently. Many other software makers have been embedding generative AI into their products since OpenAI's ChatGPT went viral after its November launch.
Also in the quarter, Elliott Investment Management said it would not move forward with its director nominations after the activist firm disclosed a Salesforce stake.
Prior to the drop after hours, Salesforce shares were up 67% so far this year, outperforming the S&P 500, which has edged up 9% in the same period.
Wed, 31 May 2023 08:49:00 -0500entext/htmlhttps://www.cnbc.com/2023/05/31/salesforce-crm-earnings-q1-earnings-report-2024.html5 Skills Required To Become a Salesforce Developer
With the growing demand for Salesforce developers, more and more people are showing their interest in learning Salesforce. With its wide range of features and capabilities, Salesforce offers lucrative career opportunities for professionals looking to build successful careers as Salesforce developers.
However, to become a master in this field, it's important to hold a specific set of skills that will set you apart from the competition.
Here are the top five skills required to embark on a successful Salesforce development career:
Salesforce Platform Knowledge:
It's essential to have a thorough understanding of the Salesforce platform before you start your career as a Salesforce developer. Learn about the key elements and features provided by each Salesforce product, such as Sales Cloud, Service Cloud, and Marketing Cloud. Learn about the objects, fields, workflows, and security models available in Salesforce. Also, recognize declarative development, which enables you to create applications without writing code, as well. A strong foundation in Salesforce platform knowledge will serve as the building block for your development expertise. Check out igmGuruâs Salesforce training to learn more about Salesforce.
2. Apex And Visualforce:
The programming language Apex was created expressly for customizing and expanding Salesforce. You need to get a solid grasp of Apex if you want to become a skilled Salesforce developer. Study the best practices for Apex development's syntax, data types, control structures, and other elements. Apex is essential for developing custom business logic and automation on the Salesforce platform. Learn Visualforce, a markup language used to create unique user experiences within Salesforce, in addition to Apex. Mastering Apex and Visualforce will empower you to create tailored solutions and enhance the functionality of Salesforce applications.
3. Lightning Component Framework:
Salesforce Lightning is a modern and dynamic framework that allows developers to build intuitive user interfaces. Lightning Components are reusable, modular units that can be combined to create seamless user experiences. As a Salesforce developer, it is essential to develop skills in building Lightning Components using the Aura framework and Lightning Web Components (LWC). Learn about the architecture, events, and data-binding mechanisms involved in Lightning Components. By mastering the Lightning Component Framework, you can craft visually appealing and highly interactive interfaces, elevating user satisfaction and productivity.
4. Integration and APIs:
Integration is a fundamental aspect of Salesforce development. Organizations often require Salesforce to communicate with external systems, such as payment gateways, ERP systems, or social media platforms. To meet these demands, you must possess a strong understanding of integration concepts and be proficient in working with APIs (Application Programming Interfaces). Familiarize yourself with REST and SOAP APIs, as well as authentication and authorization mechanisms. Additionally, explore integration tools like Salesforce Connect and Heroku that expand your capabilities further. With solid integration skills, you can seamlessly connect Salesforce with external systems, enabling data flow and system interoperability.
5. Problem-Solving and Analytical Thinking:
In addition to technical skills, Salesforce developers must excel in problem-solving and analytical thinking. As you work on projects, you will encounter complex business requirements and need to find creative and efficient solutions within the Salesforce platform's confines. Develop your ability to analyze problems, break them down into manageable components, and devise effective strategies to overcome them. Enhance your problem-solving skills by staying curious, seeking best practices, and actively engaging with the Salesforce developer community. By fostering your problem-solving and analytical thinking skills, you will tackle challenges with confidence and deliver innovative solutions.
Becoming a successful Salesforce developer requires a combination of technical expertise and soft skills. Acquiring Salesforce platform knowledge, mastering Apex and Visualforce, delving into the Lightning Component Framework, understanding integration and APIs, and nurturing problem-solving and analytical thinking abilities are essential for your development journey. Additionally, remember to stay updated with the latest Salesforce releases, certifications, and industry trends to stay at the forefront of the field. With determination, continuous learning, and a passion for Salesforce development, you can embark on a fulfilling and rewarding career as a Salesforce developer.
Ravikant loves pursuing excellence through writing and his dedication to technology clearly shows in any draft. He has published many articles in several technology magazines and websites. As a technical writer, he holds 8+ years of experience. He currently writes for igmGuru, a global ed-tech company that offers certification and training for diverse trending courses. He has covered many trending technologies like IoT, machine learning/artificial intelligence, data science with Python, cloud computing, business intelligence, IT, SAP, project management, and more.
Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.Â
Salesforce said it would no longer divulge the individual revenue numbers of acquired companies including Slack and Tableau in its quarterly earnings filings and instead focus on percentage changes.
Initial signs of the new reporting standard came Wednesday when the customer-relationship giant released earnings for the quarter ended April 30.
The change reflects a âstandard approach for acquired companies at this stage,â a Salesforce spokesperson told GeekWire in an email Thursday.
In the past, Salesforce provided separate financial figures for Slack, MuleSoft, and Tableau in its regular financial reports. However, in the most accurate filings, the revenue from each company was consolidated under Salesforceâs professional services, subscription, and support revenue categories. The company also combines Tableau and MuleSoft revenue under the âdataâ category.
Earlier this year, activist investors criticized Salesforce executives for the companyâs string of pricey acquisitions. Salesforce bought Tableau for $15.7 billion, whereas Slack was acquired for $28 billion. The company disbanded the boardâs M&A committee in March, in part to signal its effort to increase profitability.
Salesforce has conducted a number of cost-cutting measures in response to activist pressure and a broader market slowdown. The company announced in January a plan to lay off 10% of its employees.
In February, Fortune reported that Slack isÂ ditching its headquartersÂ and moving into Salesforceâs office tower in San Francisco. Salesforce confirmed last week that it would put Tableauâs headquarters building in Seattle on the sublease market.Â
Fri, 02 Jun 2023 06:04:00 -0500en-UStext/htmlhttps://www.msn.com/en-us/money/companies/salesforce-stops-reporting-individual-revenue-figures-for-slack-and-tableau/ar-AA1c35Hd$66M Salesforce donation meant to close educational gaps has only widened them
Tue, 23 May 2023 08:52:00 -0500entext/htmlhttps://www.sfexaminer.com/news/education/66m-salesforce-donation-meant-to-close-educational-gaps-has-only-widened-them/article_88263dc8-f9a3-11ed-9a5d-afda61b12937.htmlStanford launches 'ecopreneur' program with funding from BenioffNo result found, try new keyword!Lynne and Marc Benioff made a 'sizeable' donation to Stanford University for a new 'ecopreneurship' program. Here's what that will entail.Tue, 30 May 2023 23:40:00 -0500text/htmlhttps://www.bizjournals.com/sanfrancisco/inno/stories/news/2023/05/31/stanford-university-ecopreneur-benioff-program.htmlKhammam: 15-day software training for girl students begins at SBIT
The training, which costs around Rs 25,000 per student, was being given free of cost, SBIT chairman Gundala Krishna said.
Addressing the students the institute chairman Gundala Krishna informed that ICT Academy has organised the training programme in association with Cognizant Foundation as part of womenâs empowerment initiative.
The training, which costs around Rs.25,000 per student, was being given free of cost. Women should excel in all the fields for the nationâs growth. It was planned to offer training programmes for students along with academics, he said.
College secretary and correspondent Dr. G Dhatri said training programmes for girl students were being organised to ensure that they excel in academics. She handed over training material to the participating students.
SBIT principal Dr. G Raj Kumar informed that students would be trained on Salesforce platform developer-1 certificate and Microsoft power business intelligence data analytics. ICT head Gopal said the training makes students industry ready.
The college chairman Krishna informed that Nehru Yuva Kendra and NSS jointly organising a Youth Festival on June 8 at SBIT with the competition theme âPanchapraniâ. Painting, poem writing, elocution, folk and classical dance competitions would be conducted along with a photography workshop, he said.
Mon, 05 Jun 2023 02:49:00 -0500entext/htmlhttps://telanganatoday.com/khammam-15-day-software-training-for-girl-students-begins-at-sbitBest Salesforce plugins of 2023
The best Salesforce plugins make it simple and easy to manage and Improve productivity using the Salesforce sales software suite.
However, with over 3,000 Salesforce plugins available, it can be a daunting prospect trying to find the best of what you need.
The good news is we've put together our top selections: we've considered key factors including usability, cost, connectivity with popular mail clients and calendar apps, whether free trials are available, whether it features paid tiers, and any existing user feedback and reviews.Â
Below then is our list of the best Salesforce plugins currently available.
Still getting to grips with the Salesforce suite? Then check out our articleWhat is Salesforceto understand how it can streamline and Improve your business practices.Â
Why you can trust TechRadar We spend hours testing every product or service we review, so you can be sure youâre buying the best. Find out more about how we test.
The best Salesforce plugins of 2023 in full:
Best for integrating Salesforce with email client
Reasons to buy
5/5 stars on AppExchange
Access Salesforce without exiting emails
Reasons to avoid
Free trial restricted to 14 days
The Outlook, Gmail & Office 365 Sidebar plugin is a top-rated email organizer plugin by Cirrus Insight. This plugin offers a handy sidebar where you can access Salesforce without exiting your email provider.Â
The plugin also provides automated data entry into Salesforce from email contacts, tasks, and calendars. It will, for example, log emails from Microsoft Outlook and meetings in Google Calendar directly to the appropriate Salesforce record. The sidebar works with any Salesforce product and can be accessed from Gmail, Microsoft Outlook, or any Office 365 application.
Outlook, Gmail & Office 365 Sidebar is rated 5/5 stars on AppExchange, with 388 customer reviews, making it one of the top-rated email organizer plugins available. It is priced at $10 per user per month, with a 14-day free trial available. Look no further if you want an application that integrates Salesforce with Outlook, Gmail, or Office 365.
2. Free Outlook and Gmail Integration
Best free option for connecting email provider to Salesforce
Reasons to buy
Great customization options
If you are looking to connect Salesforce to Gmail or Outlook without paying a per-user fee, Free Outlook and Gmail Integration by RevenueGrid is a great option.Â
It provides a Salesforce sidebar in Gmail or Outlook, where users can create leads and contacts or view their Salesforce database. You can customize the appearance of the sidebar, and even make different data appear depending on the department of the accessing user. The plugin also enables one-click email logging to Salesforce and lets you save entire email threads to the appropriate Salesforce record.Â
Free Outlook and Gmail Integration is rated 4.5/5 stars on AppExchange, with 162 customer reviews. It is one of the highest-rated free email organizer plugins on AppExchange. We consider it to be the best free option if you are looking to connect your email provider to Salesforce.
Top-rated geolocation solution
Reasons to buy
Consistent 5-star rating from users
Free trial available
Integrates Salesforce data with Google Maps
Reasons to avoid
Monthly fee doesn't come cheap
Geolocated dataâ data linked directly to geographic coordinatesâis not present in the Salesforce suite by default. Geopointe, brought to you by Ascent Cloud LLC, is a top-rated geolocation solution for your Salesforce data.Â
By integrates Salesforce data with Google Maps, it lets you plot travel routes for your delivery drivers (including automatic optimization of each route), create territories directly on a map for your sales team, and automate lead and customer assignments for your branches by location. Essentially, this plugin is intended as a one-stop shop for any geolocation-based use case for your Salesforce data.
Considering its 5-star rating (based on 852 reviews), Geopointe clearly delivers as promised. Pricing starts at $55 per user per month, with a 15-day free trial available, so supply it a try if you are looking for a robust and professional geolocation plugin.
Best free geolocation add-on
Reasons to buy
Great free alternative to Geopointe
Includes predictive sales analyticsÂ
Reasons to avoid
Not the easiest for beginners
Looking for a geolocation plugin that wonât break the bank? Try Veloxy. This free plugin provides route planning, lead prospecting, and analytics based on geographical data.Â
But Veloxy is not just a geo plugin, for it also provides predictive sales analytics that helps you reach the right person at the right time. It also offers email sync for Gmail and Outlook by capturing, creating, updating, and tracking records from your inbox - all automatically.
The goal of this diverse range of features is to Improve the efficiency of your sales team. That is why all of the features, including geolocation, are focused on sales.Â
Veloxy currently has a 5/5 star rating on AppExchange based on 210 reviews. If you are looking for a free geolocation plugin for Salesforce, you canât do much better than that.
5. Invoices for Salesforce
Best one-stop shop for all invoicing needs
Reasons to buy
Excellent user reviews
Wide customization options
Reasons to avoid
Entry level is quite expensive
Invoices for Salesforce by Kognoz enables you to manage invoicing directly in Salesforce. Invoices created this way are entirely customizable. You can modify their visual appearance, as well as any number of variables.Â
Is the invoice one-time or recurring? Do you need to add shipping or taxes? Does it need to be in multiple currencies? You can specify any of this information and pull data directly from Salesforce to pre-fill relevant fields.
Invoices for Salesforce has an excellent reputation with users, scoring a 5/5 star rating on AppExchange out of 148 reviews.Â
Pricing for this plugin starts at $59 per user per month, paid annually, which works out to $708 per user per year. Alternatively, you can pay $76 per user per month on the monthly payment plan. supply Invoices for Salesforce a shot if you are looking for a one-stop shop for all of your invoicing needs that also fully integrates with Salesforce.Â
6. Quickbooks Online and Desktop Integration for Salesforce
Best solution for Quickbooks users
Reasons to buy
Integration assistance provided
Reasons to avoid
Not free as advertised on AppExchange
If your business is one of the many organizations that use Intuit Quickbooks for accounting and invoicing, supply Quickbooks Online and Desktop Integration for Salesforce by DBsync and Avankia a try. This plugin synchronizes data between records in your Salesforce database and customers, jobs, products, invoices, and estimates in your Quickbooks database.Â
Data entered into one database is automatically updated in the other. The DBsync team will assist you during initial implementation to help determine which fields to sync and how to best go about linking your Quickbooks and Salesforce databases.Â
This plugin is rated 4.5/5 stars on AppExchange with 368 reviews. It is worth noting that although it is presented as free on AppExchange, Quickbooks Online Integration is paid after a 14-day free trial.Â
At the end of the trial, you can continue to use the Standard Edition of the plugin, which lets you connect up to 5000 fields between Salesforce and Quickbooks, or you can upgrade to the Pro Edition, which allows you to connect up to 50,000 fields. Pricing for both packages is available from DBsync on request.
7. Salesforce Adoption Dashboards
Ideal for those looking to track user login history
Reasons to buy
Automated report generation
Reasons to avoid
Installation issues have been reported
Salesforce Adoption Dashboards by Salesforce Labs is a plugin that - as the name suggests - helps you track Salesforce adoption across your organization. It measures user login history, adoption of key Salesforce.com features, and the use of sales and marketing productivity enhancers. The plugin then generates reports to help you gauge if your organization is using Salesforce to its full potential.Â
The plugin is free and has a 4.5/5 star rating out of 521 reviews. Its usefulness is not limited to large enterprises eitherâmany students on Salesforce Trailhead use it as a way to remain accountable by tracking how frequently they log into Salesforce.Â
It also lets them know whether or not they are taking full advantage of Salesforceâs features. Consider adding Salesforce Adoption Dashboards to your Salesforce suite to enhance your overall experience.
8. DocuSign eSignature for Salesforce
Top eSignature solution for Salesforce
Reasons to avoid
Entry-level cost not the cheapest at $30 per month
DocuSign eSignature for Salesforce by DocuSign pairs a popular eSignature solution with your Salesforce database.Â
With this plugin, you can close deals faster by creating standardized agreements paired with Account or Opportunity records in your database. You can then send those agreements to your clients for digital signing, and then store the signed documents with the appropriate Customer 360 entry for each client. Best of all, DocuSign signatures are versatile, meaning customers can sign from pretty much any digital device with an intuitive interface.Â
This plugin has a 4.5/5 star rating from over 4,000 reviews and comes with payment plans that start at $30 per user per month. The plugin comes with a 30-day free trial, so feel free to try it out if you are looking for an eSignature solution that integrates seamlessly with Salesforce.
9. Duplicate Check for Salesforce
Great choice for users needing to clean up their database
Reasons to buy
Most popular deduplication app on AppExhange
Reasons to avoid
Free version is limited
Duplicate Check for Salesforce, by Plauti B.V. is a data-cleansing plugin designed to detect and remove duplicate data in your Salesforce database.
Specifically, the plugin will automatically scan all of your Salesforce records, including leads, contacts, accounts, and custom objects. Upon detecting a duplicate, it will merge the two duplicate records into one, thereby cleaning up your data. Duplicate Check boasts that it is the most downloaded and complete deduplication app on AppExchange. Users seem to be pleased with the results, with an overall rating of 4.5/5 stars out of 241 customer reviews.
Duplicate Check is available for free, but the free version is limited to scanning 5000 records. Paid tiers allow you to make an unlimited number of scans. If you are looking to clean up your database of duplicate entries quickly and cost-effectively, supply Duplicate Check a try.
10. Mass Edit + Mass Update + Mass Delete
Best free choice for modifying masses of Salesforce records
Reasons to buy
Completely free with no paid add-ons
Reasons to avoid
Glitches aren't uncommon
Mass Edit + Mass Update + Mass Delete by VersatileCapitalist Inc. enables you to modify large numbers of Salesforce records simultaneously.Â
It works on leads, accounts, contacts, and opportunities. You can access its functions from the List View, Search View, or Related Lists. The plugin adds three new buttons to these views: Mass Edit, Mass Update, and Mass Delete. They function identically to the existing Delete, Edit, and Update functions in Salesforce, but are expanded to affect all of the records on the list you are viewing.
The plugin is completely free, and users rated it 4/5 stars from nearly 200 reviews. Optimized for Lightning Experience and compatible with all versions of Salesforce from Professional and above, if you find yourself needing to modify large numbers of records quickly, Mass Edit + Mass Update + Mass Delete is the plugin for you.
How to choose the best Salesforce plugins for you
With no shortage of Salesforce plugins available online (with over 3,000 to choose from on AppExchange) it's no easy feat to be able to narrow that down to only the apps that will benefit your business.
To do that, we recommend first making a list of any regular sticking points or recurring barriers you encounter when using Salesforce. The likelihood is there'll be an app that can overcome these issues - no matter how minor - and Improve your overall experience.
It may be that you're desperate to integrate Salesforce into your email provider, or require additional data (such as geolocation) in the suite. Then once you've found an app that appears to promise the solution, make sure to check the comprehensive reviews on AppExchange to make your final choice.Â
How we choose the best Salesforce plugins
When considering the best Salesforce plugins, we've analysed the many top-rated apps on AppExchange and endeavoured to compile a list that covers a wide-ranging scope of uses, from invoice-generation to email integration. In each case the app has been deemed to have a high level of intuitiveness and usability.Â
We've also looked at connectivity options, app costs and whether they require recurring payments, and finally whether its strong performance is reflected in positive customer reviews.
Jones was blindsided by the news but immediately interested in the âdream jobâ that combined her love of consumer-focused design with enterprise technology. âI was so emotionally invested because I was so excited,â she says. But she worried she âwasnât going to be picked.âÂ
Jones was a somewhat unlikely contender for the role. For one, she didnât work for Slack, the workplace productivity platform Salesforce acquired in 2021 for $27.7Â billion. The 43-year-old was a Boston-based executive vice president overseeing Salesforceâs experience cloud, commerce cloud, and marketing cloud productsâall key pieces of Salesforceâs product offering to enterprise customers. Slack didnât fit that bill. It represented just 5% of Salesforceâs $31.4Â billion in annual sales, and the omnipresent messaging tool didnât overlap much with Jonesâs duties.Â
Whatâs more, Butterfield was departing after reportedly clashing with Salesforce CEO Marc Benioff following the acquisition. (Salesforce declined to comment; Butterfield didnât respond to a request for comment.) The next Slack CEO needed to take the reins from the platformâs founder, patch up the arranged marriage of Slack and Salesforce, and boost morale among Slackâs workforce even as its new corporate parent instituted 7,000 layoffs, Slackers included. A Salesforce incumbent hardly seemed like the pacifying pick.Â
Yet it was Butterfield who publicly endorsed Jones for the job. In late 2022, Butterfield announced his exitâwhich Salesforce had kept quiet for weeksâand Salesforce named Jones as his successor; she reports to Salesforce chief product officer David Schmaier, not Benioff. In a departing note to Slack workers, Butterfield called Jones âone of us.â Jones says the line referred to her âobsession around customer focus.â But the note was also an effort to win Jones support from a Slack workforce that had the potential to mistrust its new outsider CEO.Â
Jones entered the CEO role in January with a mandate to close the gulf between Slack and Salesforce culturally and commerciallyâto endear the two workforces to each other and effectively pair the companiesâ tools to better meet todayâs business needs. Plus, she has to convince a skeptical Wall Street of the business case behind the acquisition, Salesforceâs most expensive ever. Itâs a daunting task, but Jones happens to be an expert bridge builderâpersonally, as an all-too-rare Latina tech executive, and professionally, as a veteran of integrating acquired businesses into their larger parents. Ultimately, her success could turn easy-to-use Slack, whose rat-a-tat notifications punctuate the modern workday, into the interface for Salesforce, a pioneering but clunky customer relationship management provider. Enterprise customers everywhere would cheer such a transformation, says Wolfe Research analyst Alex Zukin: âNobody would ever have to use Salesforce again, and yet everybody would always be using Salesforce.âÂ
Born in SĂŁo Paulo, Jones grew up in a small neighborhood within that big city. Her father worked factory jobs. Her mom was a cleaner. At 13, Jones won a school contest to earn a spot in a computer programming classâher first time accessing a computer. Programming ignited her passion for technology and software development, which seemed like âmagicâ to her. Â
Jones earned a scholarship to attend the University of Michigan, but almost didnât get to go; she failed the Test of English as a Foreign Language required of international students the first time and just barely passed on her second try. When she arrived in Ann Arbor, she was still far from fluent. She missed the weather in Brazil; she lost âa ton of weightâ her freshman year because she didnât like french-fry-heavy Midwestern cuisine. âIt was like, Oh, my God, what am I doing here?â she recalls.Â
That transition was one of the âhardest thingsâ sheâs been through, Jones says. But she made friends in her unfamiliar surroundings, survived that first year, and became fluent in English. She earned a computer science degree and secured an internship at Apple, where she and fellow interns ate lunch next to Steve Jobs in the cafeteria.Â
She intended to move back to Brazil, but she got a job at Microsoft as an Excel software engineer and met her husband, an American, in Seattle. (He still works at Microsoft, whose Teams program competes with Slack. âWe donât talk about work,â Jones says.) Microsoft employed people from all over the worldâbut ânot a lot of Brazilians and not a lot of Latina women,â Jones says. She didnât think much of it at first, but eventually she began noticing little slights, like when ânobody really heard what I said in that meeting,â she says. âI became more conscious over time.â So when Slack employees feel as though Salesforce doesnât understand them, she has an idea of what thatâs like.Â
At Microsoft, she helped integrate virtualization startup Softricity, acquired in 2006, into what became Microsoft Intune, a management tool. Later, she oversaw the post-acquisition integration of another Microsoft target: collaboration software platform Groove Networksâan East Coast team acquired by a âgiant company on the West Coast.â âThereâs always patterns that are not too different,â Jones says. âThe biggest one is just understanding each otherâs language.â From Boston, Jones helped Microsoft âunderstand whatâs so great about this team.â Feeling like sheâd done all she could at Microsoft, she left in 2015 to try her hand at consumer technology at speaker company Sonos before jumping back to enterprise at Salesforce in 2019.Â
In her new CEO role, Jones set out to make Slack more like Salesforce (a moneymaking enterprise tool) and to make Salesforce more like Slack (a creative platform that earns not just begrudging users but genuine fans).Â
One of her earliest efforts to breach the cultural divide between Slack and Salesforce teams was a companywide memo featuring five tips for using Slack effectively. It went viral internally and, Jones says, sparked goodwill across teams. Jones advised brevity, consistency, authenticity, and, yes, a healthy dose of emojis. (Her favorite is a custom Slack logo emoji, its colored lines replaced with hearts.) Theyâre âincredibly effective in separating key points and adding dimension to your posts,â she wrote.Â
The business integration challenge canât be summarized so succinctly.
Jones believes that Slack should be âthe front door of Salesforceââthe product Salesforce customers check first. âFor every job, you start your day, you open Slack, and you figure out, What should I do now?â she says. âIf youâre a salesperson, which accounts should I target this month? Why? Which products are most valuable for these customers?â For Salesforce customers, who rely on the product but can be frustrated by its less-than-intuitive user experience, operating via Slackâs friendly and colorful UX would be transformative. Jones adds: âSalesforce is amazing at leading large enterprise relationships, and we want to bring more of that to Slack.âÂ
Slackifying Salesforce is also a matter of redefining what counts as âcreative,â Jones says: âIf youâre a marketer, thatâs a creative job. If youâre a salesperson or engaging with people, thatâs a creative job. We can bring the sensibility of design across the portfolio.âÂ
Jones says sheâs a genuine fan of Slack, having fallen for it while at Sonos. The programming-nerd CEO spends some of the little free time she has building Slack features; her latest is a tool that summarizes a channel or a thread on command.
Jones isnât just trying to convince her own employees of the Salesforce-Slack synergies. Wall Street thinks Salesforce overpaid for the workplace communications platform and questions why Salesforce customers would fork over extra money for the tool when they likely already have access to rival Microsoft Teams. Salesforceâs stock is down 17% since the deal closed, and activist investors have pressured the company to be more efficient. Slack right now doesnât complement the Salesforce suite the way the architects of the deal intended, analysts say. Benioffâs big talk in the high-growth days of 2020âhe said Slack would put Salesforce on a path to a double its revenue to $50Â billionâdidnât help set measured expectations. However, Wall Street is more optimistic about Slackâs long-term prospects.Â
â[Slack] hasnât been the growth driver they expected it to be,â says Baird analyst Rob Oliver. âBut I donât think that says much about the long-term value of Slack.â
Jones admits the earliest integrations between Slack and Salesforce werenât particularly sexy; they were tweaks like authenticating Slack and Salesforce systems so users can move seamlessly between the two and access customer relationship management data on both platforms. She says that investorsâand othersâmay be skeptical because the company hasnât released flashier synergies yet. âThe market just hasnât seen a lot of integrations come to life,â she says. Oliver agrees: âWeâre starting to see some of the beginnings of the fingerprints of that plan.âÂ
Slack does have more exciting integrations up its sleeve, Jones says. In May, Salesforce announced Slack GPT, a suite of conversational A.I. capabilities that mines Slackâs expertise: its knowledge of the people who make up an organization and how it functions. Slack could brief a user on the traits of a colleague theyâre about to meet. Users could ask Slack, âWhat should I know about [them?] How should I prepare? What are two key pieces of information about them?â Jones says. Integrating that technology throughout Salesforceânot just in Slack, but in customer relationship management software, for exampleâcould extend the tool beyond colleagues, to customers. âWhatâs the context of all that knowledge an organization has?â Jones asks.
The Groove Networks acquisition Jones oversaw at Microsoft had a relatively positive long-term outcome: While the startup ditched its own name, its Boston-based workforce is still Microsoftâs Office Collaboration team a decade later. So is that what Slackâs future will look like? Jones says Slack will remain an independent unit within Salesforce âfor the foreseeable future.â âIt makes sense because itâs such a great, recognized brand,â she says.
Slackâs brand gives Jones more visibility in her role than she might have if she were simply running a productivity software tool at another giant tech corporation; sheâs taking advantage of that spotlight to talk up the business case for Slack at Salesforce. As for the competition? âI donât hear a lot of people telling me they love to do their day-to-day jobs in Teams,â she says.â
This article appears in the June/July 2023 issue of Fortune with the headline, âIn focus: Lidiane Jones.â
Wed, 31 May 2023 21:55:00 -0500en-UStext/htmlhttps://www.msn.com/en-us/money/other/salesforce-picked-one-of-its-own-execs-to-become-slack-s-ceo-now-she-s-patching-up-a-277-billion-marriage/ar-AA1bYF2jBetter Buy: Adobe vs. Salesforce
Adobe(ADBE-0.50%) and Salesforce(CRM-1.49%) are both bellwethers of the cloud software market. Adobe's Photoshop, Illustrator, and Premiere Pro -- all housed in its Creative Cloud -- are industry-standard tools for media professionals. Its Acrobat PDF and e-signature apps are also widely used by its enterprise customers alongside its other cloud-based e-commerce, marketing, and analytics services.
Salesforce owns the world's largest cloud-based customer relationship management (CRM) platform. Like Adobe, it also expanded that ecosystem with additional cloud-based marketing, data analytics, and collaboration services.
Image source: Getty Images.
I compared these two cloud stocks back in Sept. 2021Â and concluded that Salesforce's more balanced growth and lower valuation made it the better buy. But since I made that call, Salesforce's stock declined 25% as Adobe's stock slumped 33%. Both stocks lost their luster as the macro headwinds curbed their near-term growth and interest rates deflated their frothy valuations. But could either of these out-of-favor cloud kings be worth buying again before a new bull market starts?
Adobe continues to face tough macro headwinds
Adobe expects its revenue to rise only 9% in fiscal 2023 (which will end in early December) compared to its 12%Â growth in fiscal 2022 and 23%Â in fiscal 2021.
It blames that slowdown on the macro headwinds that forced many companies to rein in their software spending. However, it expects its adjusted earnings per share (EPS) to grow 12%-14% in fiscal 2023, which would represent an acceleration from its 10% growth in fiscal 2022, as it streamlines its spending to cope with its slower sales growth.
However, Adobe's revenue and earnings outlook for fiscal 2023 doesn't include any gains from its planned $20 billion takeover of the design software start-up Figma, which competes against Adobe's own XD platform in the user interface (UI) and user experience (UX) design markets. Adobe insists it can close that massive half-cash, half-stock deal by the end of fiscal 2023 but hasn't cleared all the regulatory hurdles yet.Â Adobe's critics claim that acquiring Figma would further solidify the company's control of the digital media and design markets.
Meanwhile, Adobe is still spending a large portion of its free cash flow (FCF) on big buybacks. It reduced its outstanding share count by more than 4% over the past three years, and it still has $5.2 billion remaining in its current $15 billion buyback authorization -- which will last through the end of fiscal 2024. Adobe's stock still looks reasonably valued at 24 times forward earnings, and its growth will likely accelerate again once the macroeconomic environment improves.
Salesforce is cutting costs to cope with the downturn
Salesforce expects its revenue to rise 10%Â in fiscal 2024 (which ends next January), which would also markÂ a slowdown from its 18% growth in fiscal 2023 and 25% in fiscal 2022. That deceleration was mainly caused by macroeconomic and currency-related headwinds.
But unlike Adobe -- which only let 100Â employees go last December and doesn't plan to execute any mass layoffs -- Salesforce abruptly laid off about 8,000 employees, or 10% of its workforce, at the beginningÂ of this year. It also hinted at additional layoffs throughout the rest of the year as it focuses on boosting its operating margins. It even launched its first buyback plan last year, then doubled that authorization from $10 billion to $20 billion earlier this year.
As a result, Salesforce expects its adjusted EPS to rise 36% in fiscal 2024 compared to its 10% growth in fiscal 2023 and 3% decline in fiscal 2022. That accelerating earnings growth could appease the activist investors who ramped up their pressure on Salesforce over the past year. Still, there's a risk that it could toss out its babies with the bathwater and weaken its own defenses against Microsoft, Oracle, and SAP in the CRM market.
Moreover, investors should recall it already lost a long list of top leaders -- including co-CEO Bret Taylor, Chief Strategy Officer Gavin Patterson, Chief Marketing Officer Stephanie Buscemi, Slack CEO Stewart Butterfield, and Tableau CEO Mark Nelson -- as it streamlined its sprawling business.
Salesforce's stock looks a bit pricier than Adobe's at 27 times forward earnings, but it's also growing faster and has no unresolved acquisitions hanging over its stock.
The better buy: Salesforce
Salesforce's aggressive cost-cutting measures seem risky, but they were long overdue after years of big acquisitions and hiring sprees. If it successfully streamlines its business this year, it could emerge as a leaner, more profitable tech giant that generates more predictable returns. Adobe is still a good long-term investment, but its slower growth and massive commitment to Figma could make it a less appealing investment than Salesforce for the rest of the year.
Leo Sun has positions in Adobe and Salesforce. The Motley Fool has positions in and recommends Adobe, Microsoft, and Salesforce. The Motley Fool recommends the following options: long January 2024 $420 calls on Adobe and short January 2024 $430 calls on Adobe. The Motley Fool has a disclosure policy.
Mon, 29 May 2023 00:28:00 -0500Leo Sunentext/htmlhttps://www.fool.com/investing/2023/05/29/better-buy-adobe-vs-salesforce/Salesforce Shares Are Pressured, But I'm Not Threatened: Here's the Trade
On Wednesday evening, Salesforce (CRM) , another Sarge fave, released the firm's fiscal first quarter financial results that reflected solid performance, yet sold off overnight.
For the three month period ended April 30th, Salesforce posted an adjusted EPS of $1.69 (GAAP EPS: $0.20) on revenue of $8.247B. Both these top and adjusted bottom line results beat Wall Street rather handily. The revenue print was good enough for year over year growth of 11.3%. The adjustments made were fairly well spread across charges related to restructuring costs, stock-based compensation expense and the amortization of purchased intangibles.
With revenue growth at 11.3%, the cost of those revenues increased just 3.9% to $2.125B, leaving a GAAP gross profit of $6.122B (+14.1%) on a gross margin of 5%, or an adjusted gross margin of 27.6%, which beat expectations. Operating expenses for the quarter increased by 6.8% to $5.71B, producing operating income of $412M up from just $20M for the year ago comp. After accounting for interest and taxes, the firm was left with a GAAP net income of $199M, up from $28M.
Remaining performance obligation was up 11% to $46.7B. Current remaining performance obligation increased 12% to $24.1B.
- Subscription and Support Services generated sales of $7.642B (+11.5%), beating estimates.
- Sales Cloud generated sales of $1.81B (+10.9%).
- Service Cloud generated sales of $1.964B (+11.5%).
- Platform & Other generated sales of $1.567B (+10.4%).
- Marketing & Service generated sales of $1.17B (+7.4%).
- Data generated sales of $1.131B (+18.4%).
- Professional Services and Other drove sales of $605M (+9%), falling just short of consensus.
For the current quarter, the firm is projecting revenue of roughly $8.51B to $8.53B in expectations of roughly 10% growth. Wall Street was around $8.49B on this number. The firm also sees GAAP EPS of $0.79 to $0.80 and adjusted EPS of $1.89 to $1.90. Wall Street was down around $1.70 on this, so this is excellent guidance.
For the full year, Salesforce sees revenue of $34.5B to $34.7B, again reflective of an expectation for growth of about 10%. For the year, Salesforce sees GAAP EPS of $2.67 to $2.69 and adjusted EPS of $7.41 to $7.43. Wall Street was down around $7.14 for that number, again reflective of better profitability than the Wall Street had seen coming.
Cash flows were well ahead of expectations. Operating cash flow for the quarter reported hit the tape at $4.491B. Out of that came $243M in capital expenditures, leaving a whopping $4.428B in free cash flow, which was just about a cool $1B ahead of where Wall Street was on this. Out of that, the firm repurchased $2.054B worth of common stock. The firm does not pay shareholders a dividend.
Let's go to the balance sheet. At quarter's end, Salesforce ran with a cash position of $13.977B and current assets of $21.981B. Current liabilities add up to $21.626B. If taken at face value, the firm ended the period with a current ratio of 1.02, which would barely pass muster. Now, let's consider that within those current liabilities, there is $15.121B in deferred revenues.
I have explained this often. For any new kids, deferred revenues are not financial liabilities. When included in current and quick ratios, they can mislead. Deferred revenues are reflective of goods, services and/or labor yet to be provided, but already paid for. Once provided, this revenue can be recognized as ordinary. Deferred revenues are not financial obligations. Here, they make up 70% of current liabilities.
Total assets amount to $93.541B, including $55.221B in goodwill and other intangibles. At 59% of total assets, I admit to significant discomfort in seeing that number. Total liabilities less equity comes to $36.129B. This includes $9.421B in longer-term debt, which the firm could pay off out of pocket if need be. This balance sheet is healthy. There is no need for the bloated entry for goodwill. Unnecessary.
There is a lot of professional opinion out there concerning Salesforce this morning. I have come across 19 sell-side analysts that are both rated at four stars or better by TipRanks, and have opined on CRM since these earnings were released. Across these 19 analysts, there are 11 "buy" or buy-equivalent ratings, seven "hold" or "hold-equivalent" ratings and one "underperform" rating, which is considered to be "sell-equivalent."
Two of these "holds" did not set target prices, so we are working with 17 targets. The average target price across these 17 analysts is $234.53 with a high of $325 (Kash Rangan of Goldman Sachs) and a low of $153 (Mark Moerdler of Bernstein).
Once omitting these two as potential outliers, the average target across the other 15 analysts drops to $233.93. For those wondering, the average buy rating posted a target of $250.82, while the average hold rating posted a target of $215.
The activist investors have worked their magic, as has CEO Marc Benioff. Sales growth has stabilized. Margins are up. Cash flows are roaring. Guidance is strong. There's not a lot to dislike in my opinion, except for valuation, which is what I wrote about CrowdStrike (CRWD) this morning. The difference is that CrowdStrike is growing much more rapidly and is valued accordingly.
Salesforce, after this morning's selloff, is now trading at 31 times forward looking earnings. Do 11% sales growth and improved profitability equal a valuation well above the S&P 500 norm? Maybe, if the firm is heavily integrated into the burgeoning new world of artificial intelligence.
The firm's own Einstein GPT conducted 1M transactions for its customers just this past week. The firm is also working AI into its Slack and Tableau offerings. Salesforce will be holding an AI Day on June 12th. I don't think I want to sell my shares of Salesforce ahead of that event. The first chart shows the run that Salesforce has had off of the bottom.
I had taken some shares off at $216, which was my target price. What now that the trend has overrun the breakout from the winter cup with handle pattern? What now? With these shares finally coming in a little bit.
This morning's 5% haircut does not even seem to be making a dent in the upward sloping trend in place. The stock has found some support at its 21 day EMA (exponential moving average), and if that line does crack, the 50 day SMA (simple moving average) has worked in the accurate past. We do need a new pattern to take hold.
For now, all we have is this price channel. I would not get out of these shares unless I see that 50 day line break. My net basis is $158.90, so I am not threatened by the pressure this morning. In fact, I would consider writing August 18th $165 puts just in case the market decides that the unfilled gap from early March has to be filled. That would knock a rough $0.90 off of net basis. Temporary upside target? $240 (top of trend) until something more obvious reveals itself.
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Thu, 01 Jun 2023 03:15:00 -0500STEPHEN GUILFOYLEentext/htmlhttps://realmoney.thestreet.com/investing/salesforce-shares-are-pressured-but-i-m-not-threatened-here-s-the-trade-16125211