Salesforce Grows Beyond $10B in Revenue as CEO Proclaims the Fourth Industrial Revolution
Updated · Mar 01, 2018
The fourth industrial revolution has begun, according to Salesforce CEO Marc Benioff, and it’s his company that is at the forefront of the movement.
Salesforce reported its fourth quarter and full fiscal 2018 financial results on Feb. 28, passing new milestones. For the quarter, Salesforce reported revenue of $2.85 billion, for a 24 percent year-over-year gain. For the full year, revenue came in at $10.48 billion, for a 25 percent year-over-year gain.
”We have propelled Salesforce over the $10 billion revenue milestone, and we couldn’t be more excited about that,” Benioff said during the company’s earnings call. “Now our vision has never been bigger or more exciting as we have a very clear trajectory to $20 billion in revenue.”
Benioff said that the key thing that is helping to drive Salesforce forward it that all types of organization around the world feel the need for digital transformation.
“It doesn’t matter if they’re a consumer product goods company CEO or financial services or retail or any industry or any geography,” Benioff said. “Every CEO is thinking about their digital transformation, and I think you and I know that every digital transformation begins and ends with the customer.”
Part of focusing on the customer is about understanding the customer, which is where Salesforce’s Einstein machine learning technology fits in. Benioff explained that Salesforce Einstein, has become a critical part of of the Salesforce customer relationship management (CRM) platform, as well as the rest of the company’s product portfolio.
“Whether you’re using Commerce Cloud like Adidas is, whether you’re using Sales Cloud like Cisco is, or whether you’re using an incredible product like Service Cloud like Intuit is, Einstein is in there now,” Benioff said.
The Fourth Industrial Revolution
The digital transformation that Benioff sees coming is also known as the fourth industrial revolution. With the revolution has come advancements in technology, including mobility and artificial intelligence.
“As every company sees the fourth industrial revolution underway, they have to pick their place in it, what are you going to do, what is your position, and also what are your values, what’s important to you,” Benioff said. “For us, it’s very simple, we squarely believe that we’re in the age of a customer and that for each and every one of our companies that we deal with around the world, that they have to connect with their customer in a whole new way. And to build this high-hidelity relationship, whether they’re a B2B or B2C customer, that they need to have this single view of the customer. “
Sean Michael Kerner is a senior editor at EnterpriseAppsToday and InternetNews.com. Follow him on Twitter @TechJournalist.