The industrial cloud is growing much faster than the business cloud, which is why Salesforce is making “huge” investments in the vertical market for solutions. #3 Google Cloud.
Co-CEO Bret Taylor says Salesforce customers are “increasingly focused on time-to-value and lower implementation costs,” and Salesforce’s 12 industrial clouds meet both of these requirements. said it was “another bright spot” in the quarter that ended July 31.
“Our ready-to-use industrial processes integrated into our industrial cloud are an attractive value proposition in this more measured environment and we are excited about the new processes we brought to market in the first half of 2019. includes trade promotion management for consumer goods and virtual assistants for financial services clouds.
– Advertising -
These new solutions demonstrate the detailed and tangible capabilities offered in this hot segment of the market, and Salesforce is actively working to meet the growing customer demand for these purpose-built industry applications and solutions. said it will continue to make significant investments.
“Our Industry Cloud is essentially leveraging Customer 360 Clouds (Sales, Service, Marketing, E-Commerce, Tableau, MuleSoft, Slack) to create industry-specific processes and workflows that work out of the box. Out of the box,” Taylor said on Salesforce’s Q2 earnings call late last month.
“Our customers have a lot of value. First, they don’t have to pay us or a professional services company to implement a table stake in their digital transformation because it’s out of the box. , we can focus our investment resources on differentiated business areas,” said Taylor.
“This means faster time to value and easier adoption of that process, which is why our industrial cloud has a lower churn rate than our business cloud.”
Lower turnover — very interesting. Given Salesforce’s continued success in a highly competitive market, I’d suspect that deal drop rate is pretty low to begin with — and he said Taylor said industry cloud is a big deal among customers. It is said that it has been more successful in
With all these arrows pointing upwards, Salesforce is investing more in this dynamic new space. I believe this will be the hottest category in the world’s fastest growing market in the next two years.
Industrial cloud is “a huge growth area for us,” Taylor said during the earnings call, referring to Vlocity, which Salesforce acquired several years ago. Continuing the “huge” theme, Taylor said the industry’s cloud is “a huge area of investment for us.”
Taylor also named David Schmaier, Salesforce’s chief product officer. He founded his Vlocity and was a fast-growing figure in the product development department, demonstrating just how strategic Salesforce believes its cloud industry is.
“This is a big part of our strategy going forward,” Taylor said before asking hypothetical questions that strongly underscore the company’s confidence in this dynamic new category. ? They work right out of the box with faster time to value.? »
He also touched on what enterprise customers have told me as their number one concern about industrial clouds. That said, the big cloud providers need to make it completely transparent for their customers to work with these dedicated industrial applications and the traditional horizontal applications that these providers have been delivering. Many years.
“I think it’s a really unique way of doing what we do – and Mark [Benioff] Alluded to before – it really is all in one unified platform. When you purchase Financial Services Cloud, you get all the capabilities of Salesforce Cloud, Service Cloud, or Customer Data Platform in one unified technology platform. »
This seamless integration, and the benefits it brings to businesses in these tough economic times, makes the industry’s cloud even more attractive, Taylor said.
“This is very unique in the industry, and I think it will be even more important in this more measured buying environment, but it was really important even before that: value to our customers.”
We’ll hear more about Oracle’s aggressive industry strategy today as it releases its first quarter financial results. And it will undoubtedly intensify the bitter rivalry that Oracle and Salesforce have maintained for more than a decade.
As always in Cloud Wars, the big winner is the customer.
Interested in learning more from Bob Evans and seeing cloud-focused content at Cloud Wars Expo? featuring more speakers) will be available soon.All content is free for Acceleration Economy subscribers with an On-Demand Pass.