Salesforce Inc. (NYSE:CRM) Co-Chief Executive Officer Marc Benioff said the corporation will continue to make acquisitions while focusing on integrating companies it has previously purchased.
Benioff said Thursday in an interview with Bloomberg Television from the software giant’s annual Dreamforce conference that they have bought 60 companies, they’ll always buy companies. Meanwhile, Salesforce is still integrating employees of recently acquired firms like Tableau.
As economic mood has deteriorated, the customer-relationship software behemoth is attempting to boost its profitability. During an investor event on Wednesday, the business maintained its objective of $50 billion in revenue by fiscal year 2026, nearly doubling its current annual revenues, while adding a new profit margin target of 25%. Benioff said that now they want to have very strong margins.
After expanding its employees during the epidemic, the business, like many of its tech counterparts, has reduced its spending on recruiting and travel. “In the previous two years, we have spent heavily, and we are absorbing those investments into our business,” Benioff remarked. Further reductions in personnel investment are “certainly not our aim,” he added.
Since the product leader was elevated to share the top role in November 2021, the co-founder and board chair has split CEO duties with Bret Taylor for over a year. Taylor was described as a “great leader of the organization” by Benioff.
The collaboration enhances existing solutions in order to bring future innovation to the insurance sector
Today at InsureTech Connect Vegas (ITC) 2022, Zywave, an insurtech startup, announced a committed collaboration and improved cooperation with Salesforce, the worldwide Customer Relationship Management (CRM) leader. This cooperation will better combine insurance agency sales and client support, resulting in more efficient, strategic operations powered by data and information to deliver a seamless consumer experience.
According to Jason Liu, Chief Executive Officer of Zywave, as insurance agencies grow and expand new digital solutions to engage customers, the historical divide between selling new business and servicing that business has only widened, creating even more challenges in the coordination of cross-functional work and client experience. They are excited to collaborate with Salesforce to help simplify and connect these workflows by combining Zywave’s revenue-generating technologies with a flexible, world-class CRM. The expansion of our collaboration will unleash limitless development possibilities for our mutual consumers and the insurance sector as a whole.
