Salesforce is Soaring
Amid the dazzling Q4 and full-year results they reported late last week, Salesforce.com leaders emphasized two external factors that play beautifully into their hand: CEOs are making digital transformation their top priority, and the recent U.S. tax cuts are giving them the resources to pursue that aggressively.
Noting that he’d had dinner with 20 Fortune 100 CEOs in New York the night before the Feb. 28 earnings call, Salesforce CEO Marc Benioff said on the call, “Squarely in the center of each and every one of their consciousnesses is the digital transformation their company’s going through.”
Across all industries, Benioff said, “Every CEO is thinking about their digital transformation—and every digital transformation begins and ends with the customer.”
And the recent tax cuts in the U.S. are directly fueling a “very fast-moving economic freight train” that’s helping CEOs create end-to-end digital businesses.
“We’ve seen an incredible increase in investment activity with our customers, especially accelerated with these tax cuts,” Benioff said. “That has been amazing to us.”
That turbocharging effect comes at an ideal time for Salesforce because the broad and deep relationships with a range of C-level executives among its customers has greatly enhanced Salesforce’s credibility to be among or perhaps even the strategic technology partner for those top-priority digital initiatives.
Asked by an analyst to describe how Salesforce has been able to generate a cloud-revenue backlog of $20 billion of business on and off the balance sheet—up 40% from a year ago—vice-chairman and COO Keith Block said, “It really comes back to the strategic relationships that we’re driving with these customers: they’re deeper and more-meaningful.
“We’re driving their digital transformations, and that results in more large contracts than ever before and more large customers than ever—plus longer contracts in terms of duration, and also a lot of multi-cloud solutions,” said Block. (You can see a transcript of the entire earnings call at seekingalpha.com—I use seekingalpha’s transcripts to supplement my own notes from the calls.)
The post Why Salesforce is Soaring In The Cloud: 20 Eye-Popping Numbers appeared first on Statii News.
source http://news.statii.co.uk/why-salesforce-is-soaring-in-the-cloud-20-eye-popping-numbers/
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