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Salesforce Certified Service cloud consultant
http://killexams.com/pass4sure/exam-detail/Service-Cloud-Consultant Question: 166
Which search mechanism should be used to find case comments from within the lightning service console?
A. Search utility component
B. Comment search component
C. Comments list view
D. Global search Answer: D Question: 167
A Contact Center Manager is implementing a new customer care program and wants to specifically measure customer
Which three measures satisfy this requirement? Choose 3 answers
A. customer satisfaction Survey
B. Customer Purchase History
C. Customer Support Requests
D. Net promoter Score
E. Service Level Agreement Answer: A,B,D Question: 168
Universal Containers recently implement Service Cloud. The Support Manager notices that cases are being distributed
unevenly across the team.
What should the consultant recommend to address this problem?
A. Configure Case Assignment Rules to use Queues.
B. Configure Omni-Channel Routing Model as Most Available.
C. Configure Case Assignment Rules to use Users.
D. Configure Omni-Channel Routing Model as Least Active. Answer: B Question: 169
A company wants to publish knowledge articles to its customer community. The articles should be organized for easy
navigation by community members.
What should a consultant recommend?
A. Define data categories with custom visibility.
B. Define article types with public sharing settings.
C. Define subjects for each knowledge article.
D. Define a custom field to identify the subject. Answer: A,B,D Question: 170
A company wants to publish Knowledge articles to its Customer Community. The articles should be organized for
easy navigation by Community members .
What should a Consultant recommend?
A. Define Article Types with Public Sharing Settings.
B. Define Data Categories with Custom Visibility.
C. Define subjects for each Knowledge article.
D. Define a Custom Field to identify the Subject. Answer: C Question: 171
UC has two customer service contact centers and each focuses on a specific product line. Each contact center has a
varying call volume, contributing to a high operational cost for the company. UC wants to optimize the cost without
compromising customer satisfaction .
What can a consultant recommend to accomplish these objectives? Choose 2 answers.
A. Implement a customer self-service portal
B. Enable agents to transfer calls to other agents
C. Cross-train agents on both product lines
D. Prioritize customer calls based on their SLA Answer: A,C Question: 172
A manager would like information on the knowledge base searches conducted by customers and call center agents .
Which two metrics are useful for identifying knowledge article effectiveness? Choose 2 answers
A. Knowledge search query with no results.
B. Knowledge articles with the lowest rating.
C. Number of knowledge articles in each data category.
D. Knowledge articles created by call center agents. Answer: A,B Question: 173
The Service Manager at universal Containers manages three teams. Each team provides support for the specific
product. Agents have concerns about seeing search results for other products when searching the knowledge base. The
service manager originally provided the teams with full access to the articles.
Which solution will ensure each team sees only the relevant article type for their product?
A. Create an article action for each record type and assign them to each team based on their product specialization
B. Create a permission set for each record type and assign them to each team based on their product specialization
C. Create a page layout for each article type and assign them to each team based on their product specialization
D. Create a data category for each product and assign them to each team bases on their product specialization Answer: D Question: 174
Universal Containers wants to implement best practices for its customer support teams and has decided to follow a
Knowledge-Centered Support (KCS) methodology.
Which two benefits can be expected from KCS adoption? Choose 2 answers
A. A knowledge article life cycle that is implemented correctly the first time and does not need to change
B. Reduced first contact resolution
C. A knowledge article life cycle that evolves based on usage and demand
D. Reduced issue resolution time Answer: B,D Question: 175
As part of a new Salesforce Knowledge implementation, Universal Containers would like to migrate articles from their
Which factor should a Consultant consider as part of the migration strategy?
A. Convert any articles containing HTML into plain text before importing because HTML is NOT supported in any
article field types.
B. Verify that each article type has field level security on all fields set to read-only prior to import, in order to prevent
any loss of data.
C. Ensure that each existing article type has a corresponding Salesforce Knowledge article type that matches its
structure and content.
D. Prepare a single .csv file that can be used to migrate all articles types at once and include with a properties file in a
.zip for import. Answer: D Question: 176
Universal Containers (UC) is updating the Service Cloud console app for its call center agents. Management is
concerned that deploying the new app will disrupt current operations and impact customer satisfaction.
What should the consultant recommend to mitigation these concerns?
A. Deploy the configured and tested app to production, update the agent’s profile to view the app and take away
access to the old app.
B. Configure the new app in a sandbox. Use a change-set to push the configuration to production for testing and
C. Deploy the configuration from a sandbox to production during the next Salesforce version update so the system
only goes down once.
D. Configure the new app m developer org and use an unmanaged package to deploy to production. Answer: D Question: 177
How can a Contact Center Manager see which Service Representatives have not accepted new Cases recently using the
Lightning Service Console?
A. Omni-Channel Utility Component
B. Cases report sorted by Rep and Case Owner
C. Cases report sorted by Rep and Case CreatedDate
D. Omni-Channel Supervisor tab Answer: D Question: 178
Sales engineer needs visibility to list field edits, emails, case comments, and related objects on ONE page .
How can this be achieved?
A. Customer view of case tab
B. Custom Visual force page
C. Custom report
D. Custom related list Answer: B Question: 179
Universal Containers would like to provide their contact center agents with a map image of their customers location
based on the Shipping Address of their Account Record .
What should a consultant recommend as part of the solution?
A. An outbound message to a middleware platform to provide map details
B. A mashup integration on the Account page to a third-party mapping service
C. A Web Service call-out that retrieves map details from the backend system
D. A custom tab of type URL that displays a map image of customer location Answer: B Question: 180
Universal Containers (UC) wants to schedule for repair service when an agent is unable to solve the customer’s
problem via the call center.
What functionality should a consultant recommend to satisfy the UC’s need?
A. omni Channel
B. Contact Request
C. Field Service
D. Mobile Connect Answer: C
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https://killexams.com/exam_list/SalesforceKsolves Introduces Powerful Salesforce Messaging App, SMS 24Ă—7No result found, try new keyword!With the SMS 24x7 Salesforce Messaging App, businesses can now enhance their communication strategy and Boost customer engagement like never before. This app allows users to send and receive SMS, ...Mon, 05 Jun 2023 16:04:00 -0500https://markets.buffalonews.com/buffnews/article/abnewswire-2023-6-6-ksolves-introduces-powerful-salesforce-messaging-app-sms-247Salesforce shares fall despite better-than-expected earnings
Salesforce reported better-than-expected results last quarter.
The company says it dialed back spending on cloud-based software offerings in an uncertain economy.
Salesforce Chief Financial Officer Amy Weaver said the company faced continued macroeconomic pressures in the United States and that demand from financial services and technology companies slowed in the quarter.
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 â€śstandard approach for acquired companies at this stage,â€ť 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 Salesforceâ€™s professional services, subscription, and support revenue categories. The company also combines Tableau and MuleSoft revenue under the â€śdataâ€ť category.
Earlier this year, activist investors criticized Salesforce executives for the companyâ€™s string of pricey acquisitions. Salesforce bought Tableau for $15.7 billion, whereas Slack was acquired for $28 billion. The company disbanded the boardâ€™s 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 Salesforceâ€™s office tower in San Francisco. Salesforce confirmed last week that it would put Tableauâ€™s 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-AA1c35Hd5 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 igmGuruâ€™s 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
Tue, 30 May 2023 01:12:00 -0500entext/htmlhttps://www.livemint.com/brand-stories/5-skills-required-to-become-a-salesforce-developer-11685450878140.htmlSalesforce Shares Fall as Customers Watch Spending
Salesforce shares dropped as CapEx spending rises and customer behavior changes.
Salesforce's quarterly earnings, revenue, and current quarter outlook exceeded forecasts.
Despite the stock price's decline on Thursday, shares were up about 60% for 2023.
CONSTELLATION BRANDS, INC.
Salesforce (CRM) was the worst-performing stock in the Dow in early trading on Thursday after the cloud-based enterprise software provider reported higher-than-expected spending and warned of changes in customer buying behavior.
Shares dropped even though Salesforce posted strong fiscal 2024 first quarter results, with earnings per share (EPS) of $1.69 and revenue up 11.3% to $8.25 billion. Both were better than forecasts. The company also raised its profit outlook for the full year and gave current quarter guidance that exceeded analystsâ€™ estimates.
However, Salesforce said capital expenditures (CapEx) jumped 35.8% to $243 million, almost $40 million more than anticipated. In addition, COO Brian Millham noted that clients were continuing to look closely at deals, and are taking more time to close them than in the past. He noted that the companyâ€™s professional services business began to see less demand for multiyear transformations, and in some cases, they delayed projects.
CFO Amy Weaver added that along with pressure on professional services, more customers are choosing to contract on the time and material basis.
Salesforce shares were down 4.5% as of 11:16 a.m. ET on Thursday, though they were still up about 60% year-to-date.Â
Salesforce CEO Marc Benioff told CNBC's Jim Cramer on Wednesday that artificial intelligence will be and already is a boon for the cloud software company, especially when it comes to one of its recently acquired products, messaging application Slack.
"My dream is that all that data that's inside Slack, well, as we work on our own [large language model], that Slack is almost going to like wake up and become intelligent itself," Benioff told Cramer. "It's going to be an incredible revelation for our customers, that they've got intelligence by their side with Slack."
Slack announced earlier this month that it plans to add a whole host of generative AI features to the program, including "Slack GPT," which can summarize messages, take notes and even help Boost message tone, among other things.
"It means that Slack is going to be my assistant, my partner, my copilot, it's helping me to run my company, just as Salesforce GPT is going to let me, be my copilot in running all of my customer relationships," Benioff continued.
He added that Salesforce's use of AI has already started to benefit its clients, from New York's Northwell Health hospital group to luxury retailer Gucci, which used Salesforce's AI products to enhance their call center employees' performance. Benioff stressed that Gucci's case shows that AI will enhance workers, not make them obsolete.
"We thought it's just going to make them much more productive in handling cases," Benioff said. "It actually transformed the call center agents into sales agents, into marketing agents, it gave them capabilities they did not have, it augmented them."
Salesforce reported a decent quarter on Wednesday after the market's close, with profits up 68% year to date by the market's close. First-quarter revenue was $8.25 billion, comfortably exceeding the $8.18 billion estimate.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Salesforce.
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Wed, 31 May 2023 13:21:00 -0500entext/htmlhttps://www.cnbc.com/2023/05/31/salesforce-ceo-marc-benioff-says-new-ai-enhanced-products-will-be-a-revelation.htmlSalesforce 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.htmlSalesforce Reports A Decent Quarter With A Big AI Promise
Salesforce Inc CRM not only topped estimates across the board but also raised full year earnings guidance. However, stock dropped 7% upon the report owed to the fact that capital expenditures were higher than expected.Its shares are under pressure as customers are backing away from consulting deals with the software giant experiencing its slowest pace of growth in 13 years. Salesforce is another tech powerhouse that integrated AI tools into its business, but it is behind its rivals Microsoft Corporation MSFT and Google.Â
First Quarter Highlights
For the quarter ended on April 30th,Â revenueÂ amounted toÂ $8.25 billion,Â topping Refinitivâ€™s consensus ofÂ $8.18 billion.Â But the revenue rise of 11% was overshadowed by a 36% rise in capital expendituresÂ that amounted toÂ $243 million, greatly topping by StreetAccount consensus of $205 million.Â The resulting net income amounted to $199 million, or 20 cents per share, rising from last yearâ€™s quarter when it amounted to $28 million, or 3 cents per share.Â Adjusted earningsÂ amounted toÂ $1.69 perÂ share, below Refinitivâ€™s estimated ofÂ $1.61 per share.
Second Quarter Guidance
Adjusted earnings were guided in the range between $1.89 and $1.90 per share on the back of a revenue range between $8.51 billion and $8.53 billion. Analysts gathered by Refinitiv guided for adjusted earnings of $1.70 on revenue of $8.49 billion.
With the revenue forecast remaining intact, adjusted earnings were lifted compared to the guidance provided in March. They are now expected in the range between $7.41 and $7.43 per share on $34.5 billion to $34.7 billion in revenue. Refinitivâ€™s poll of analysts guided for a fiscal year revenue $34.65 billion with resulting adjusted earnings of $7.14 per share.Â As CEO Marc Benioff stated, with the operating margin for the quarter significantly exceeding the target, it is now called at 28% for the fiscal year, compared to 27% guided back in March.Â Â
Chief Operating Officer Brian MillhamÂ noted the trend of clients taking longer to close deals and are looking at them more carefully. Also, professional service businesses are seeing a weakened demand for multiyear transformations as consumers are more interested on quick wins and strategies that bring value as soon as possible. In response, Salesforce is making efforts to automate the sales process and Boost the productivity of its salespeople. Chief Financial OfficerÂ Amy WeaverÂ expects those issues to remain.Â
The AI Race Against Microsoft And Google
During the reported quarter, Salesforce revealed it is following Microsoftâ€™s footsteps as it announced an AI tool its salespeople will use. Einstein GPT is a generative artificial intelligence technology designed to help salespeople, marketers and customer-service agents be more efficient at their jobs. Even the mighty Google got threatened byÂ ChatGPT, as instead of â€śgooglingâ€ť questions on Google, one can just ask the ChatGPT. Although Google launched Bard AI in response, it was actually one of the first in the conversational game but it missed the boat by launching its own consumer product based on Lamda. Google is hoping to turn things around with Bard which is powered by the language model, but Microsoft is the one troubling Salesforce as besides AI tools, it is its main competitor with Dynamics 365. But, CEO Marc Benioff promises a revelation through Salesforceâ€™s AI-enhanced products that will be added to one of the companyâ€™s most recently acquired assets, the messaging platform Slack.
All in all, Salesforce reported a decent quarter with a profit rise of 68% year-to-date by the market close. With AI claimed to be the companyâ€™s biggest assets, Salesforce promises to be a worthy rival to Microsoft and Google in this arena.
DISCLAIMER: This content is for informational purposes only. It is notÂ intended as investing advice.
Fri, 02 Jun 2023 04:24:00 -0500text/htmlhttps://www.benzinga.com/23/06/32694143/salesforce-reports-a-decent-quarter-with-a-big-ai-promiseInactive Salesforce Communities could leak sensitive data
Threat actors could gain access to improperly deactivated or unmaintained Salesforce sites by changing the host header, thereby gaining access to sensitive personal and business data.
In a Wednesday blog post by Varonis Threat Labs, researcher Nitay Bachrach wrote so-called â€śghost sitesâ€ť are Salesforce communities that are no longer being used. The abandoned sites were originally designed to allow partners and customers to collaborate within a companyâ€™s Salesforce environment. Ghost sites are simply forgotten or unused collaborative sites that instead of being deactivated create a liability, researchers said.
However, the Salesforce sites still pull new data and can be easily found on the public internet and can be exploited by attackers.Â
â€śBecause these unused sites are not maintained, they arenâ€™t tested against vulnerabilities, and admins fail to update the siteâ€™s security measures according to newer guidelines,â€ť Bachrach, the author of the Varonis post, wrote.
Ghost sites start when custom domain names are created and point to the Salesforce Community Site by configuring the DNS record. Risk is introduced when companies move to a different vendor, Bachrach explained. Varonis Threat Labs researchers discovered, many companies only changed the DNS records and did not remove the custom domain or deactivate the Salesforce Site.
Since the Salesforce site is still active, attackers can access them by simply changing the host header. Tools that index and archive DNS records, such as SecurityTrails, make identifying ghost sites easier for attackers, Bachrach noted.Â
â€śOur research found many such sites with confidential data, including PII and sensitive business data that were not otherwise accessible,â€ť he wrote. â€śThe exposed data is not restricted to only old data from when the site was in use; it also includes new records that were shared with the guest user due to the sharing configuration in their Salesforce environment.â€ť
To avoid the issue, Varonis researchers said that Salesforce Communities should be deactivated.
Fri, 02 Jun 2023 10:35:00 -0500entext/htmlhttps://www.scmagazine.com/news/cloud-security/inactive-salesforce-sensitive-dataBetter 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/