Salesforce CEO Benioff says success is due to Cloud, Social and IoT

CEO of tech giant, Mark Benioff has said their higher than expected earnings for the quarter is due to a number of factors. Those factors include growth and investment...

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CEO of tech giant, Mark Benioff has said their higher than expected earnings for the quarter is due to a number of factors. Those factors include growth and investment in the cloud and the Internet Of Things. He says mobile and data science are also key factors in why the largest companies are making huge commitments to Salesforce. On CNBC’s Mad Money, Benioff says this (Q2 of 2015) is having an unbelievable year.

“Next year we’re going to be the 4th largest software company in the world.”

Microsoft, Oracle and SAP are the top 3 and Benioff says they won’t be number 4 for very long because they have strong momentum, support of their customers and a strong focus on ensuring those customers love their products. As the world’s largest CRM in the world Salesforce is growing rapidly.

“We’re not selling millions of Customer Relationship Management software, we’re selling billions.”

The company now has around $9 Billion in the bank at this point and sure it’s a long way short of Apple, but in terms of software businesses, Salesforce is a massive enterprise.

Expectations are that Salesforce is on a clear trajectory to $10 Billion in revenue in a single year. Benioff says they are the fastest company to reach $7 Billion and is expected to break the record for the fastest growing company to reach $10 Billion in revenue. After launching in the year 2000, the company continues to go from strength to strength, with large clients like Coke, GE, Home Depot, Sprint, Sony, Spotify and many more.

Host Jim Cramer asked Benioff why someone like Stanley Black & Decker would need a CRM. Naturally Benioff had a great answer. He says as tools are becoming more connected and as they do, businesses that sell those tools want to get closer to the customer. By understanding their needs better, they can know who they are, when they’re using the product, what they want to achieve, how they can upsell or provide support and use Salesforce to do that.

“In the world of connected products, you have to be more connected to your customers than ever before, you have to connect in new and exciting ways. That’s the power of the Internet of Things.”

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If you had any doubt about how successful the company is, the Foo Fighters are playing at their Dreamforce conference in San Francisco next month.

More information at ZDNet.

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