May
12
2021
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Salesforce is bringing drag and drop interactive components to its low-code toolkit

Low-code and no-code tools abound these days, as the industry attempts to give nontechnical end users the ability to create applications without code (or very little anyway). Salesforce has been a big proponent of this approach to help reduce the complexity of working on its platform, and today the CRM giant announced a new wrinkle: drag and drop interactive components.

These new components allow users to create more sophisticated kinds of interactions, says Ryan Ellis, SVP for product management and platform at Salesforce. “We’re introducing this new feature called Dynamic Interactions and prior to their existence you had to have developers if you wanted to be able to build essentially truly interactive applications,” Ellis said.

What he means by this is if you have an application made up of multiple components such as a list of companies, a map and information about the company. You can click a company name and its location instantly appears on the map, and information about the company appears alongside it.

Salesforce will be providing about 150 such interactions like maps, lists, Einstein next best action and so forth. Developers can also create these for users as reusable building blocks that make sense to your organization or make them available in the AppExchange for others to use. Finally, you might have a systems integrator or consultant help build them for you.

“With dynamic interactions, we’re really dramatically simplifying the process of building apps with components that communicate with each other, pass data back and forth and react to user actions. It’s an entirely no-code tool so that developers write the code once for their component, and then that component can be reused by people who don’t have technical skills by dragging and dropping them onto the page, then configuring what should happen when a user takes an action,” Ellis explained.

An example of dynamic interactions from Salesforce. Clicking an item of the left causes its locations to appear in the center and information about the selected item on the right.

Image Credits: Salesforce

He says that this is part of a larger trend of digital transformation happening across the industry, one that was accelerated by the pandemic, something we hear frequently from tech companies like Salesforce.

“There’s really this big push to go digital faster than ever before, and this was happening for years as we were seeing businesses having to pivot much more rapidly as new business models were coming about. […] But then in this last year COVID really changed the game, and people just had to put on full gas in terms of actually being able to deliver those digital transformations in some instances overnight,” he said.

When you combine that with a shortage of developers, it makes sense that Salesforce and many other companies in the industry are developing these low-code tools that allow nontechnical business users to build some applications themselves, while freeing developers to concentrate on more sophisticated organizational requirements.

Dynamic Interactions will be available starting today from Salesforce (in beta). The product is expected to be generally available around Dreamforce in the fall.

Mar
24
2021
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Salesforce updates includes sales info overlay for Zoom meetings

The pandemic has clearly had an impact on the way we work, and this is especially true for salespeople. Salesforce introduced a number updates to Sales Cloud this morning including Salesforce Meetings, a smart overlay for Zoom meetings that gives information and advice to the sales team as they interact with potential customers in online meetings.

Bill Patterson, EVP and General Manager of CRM applications at Salesforce says that the company wanted to help sales teams manage these types of interactions better and take advantage of the fact they are digital.

“There’s a broad recognition, not just from Salesforce, but really from every sales organization that selling is forever changed, and I think that there’s been a broad understanding, and maybe a surprise in learning how effective we can be in the from anywhere kind of times, whether that’s in office or not in office or whatever,” Patterson explained.

Salesforce Meetings gives that overlay of information, whether it’s advice to slow down the pace of your speech or information about the person speaking. It can also compile action items and present a To Do list to participants at the end of each meeting to make sure that tasks don’t fall through the cracks.

This is made possible in part through the Einstein intelligence layer that is built across the entire Salesforce platform. In this case, it takes advantage of a new tool called Einstein Conversation Insights, which the company is also exposing as a feature for developers to build their own solutions using this tool.

For sales people who might find the tool a bit too invasive, you can dial the confidence level of the information up or down on an individual basis, so that you can get a lot of information or a little depending on your needs.

For now, it works with Zoom and the company has been working closely with the Zoom development team to provide the API and SDK tooling it needs to pull something like this off, according to Patterson. He notes that plans are in the works to make it compatible with WebEx and Microsoft Teams in the future.

While the idea was in the works prior to the pandemic, COVID created a sense of urgency for this kind of feature, as well as other features announced today like Pipeline Inspection, which uses AI to analyze the sales pipeline. It searches for changes to deals over time with the goal of finding the ones that could benefit most from coaching or managerial support to get them over the finish line.

Brent Leary, founder and principal analyst at CRM Essentials says that this ability to capture information in online meetings is changing the way we think about CRM.

“The thing the caught my attention is how tightly integrated video meetings/collaboration is now into sales process. This is really compelling because meeting interactions that may not find their way into the CRM system are now automatically captured,” Leary told me.

Salesforce Meetings is available today, while Pipeline Inspection is expected to be available this summer.

Feb
26
2021
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Salesforce delivers, Wall Street doubts as stock falls 6.3% post-earnings

Wall Street investors can be fickle beasts. Take Salesforce as an example. The CRM giant announced a $5.82 billion quarter when it reported earnings yesterday. Revenue was up 20% year over year. The company also reported $21.25 billion in total revenue for the just-closed FY2021, up 24% YoY. If that wasn’t enough, it raised its FY2022 guidance (its upcoming fiscal year) to over $25 billion. What’s not to like?

You want higher quarterly revenue, Salesforce gave you higher revenue. You want high growth and solid projected revenue — check and check. In fact, it’s hard to find anything to complain about in the report. The company is performing and growing at a rate that is remarkable for an organization of its size and maturity — and it is expected to continue to perform and grow.

How did Wall Street react to this stellar report? It punished the stock with the price down over 6%, a pretty dismal day considering the company brought home such a promising report card.

2/6/21 Salesforce stock report with stock down 6.31%

Image Credits: Google

So what is going on here? It could be that investors simply don’t believe the growth is sustainable or that the company overpaid when it bought Slack at the end of last year for over $27 billion. It could be it’s just people overreacting to a cooling market this week. But if investors are looking for a high-growth company, Salesforce is delivering that.

While Slack was expensive, it reported revenue over $250 million yesterday, pushing it over the $1 billion run rate with more than 100 customers paying over $1 million in ARR. Those numbers will eventually get added to Salesforce’s bottom line.

Canaccord Genuity analyst David Hynes Jr. wrote that he was baffled by investors’ reaction to this report. Like me, he saw a lot of positives. Yet Wall Street decided to focus on the negative, and see “the glass half empty,” as he put it in his note to investors.

“The stock is clearly in the show-me camp, which means it’s likely to take another couple of quarters for investors to buy into the idea that fundamentals are actually quite solid here, and that Slack was opportunistic (and yes, pricey), but not an attempt to mask suddenly deteriorating growth,” Hynes wrote.

During the call with analysts yesterday, Brad Zelnick from Credit Suisse asked how well the company could accelerate out of the pandemic-induced economic malaise, and Gavin Patterson, Salesforce’s president and chief revenue officer, says the company is ready whenever the world moves past the pandemic.

“And let me reassure you, we are building the capability in terms of the sales force. You’d be delighted to hear that we’re investing significantly in terms of our direct sales force to take advantage of that demand. And I’m very confident we’ll be able to meet it. So I think you’re hearing today a message from us all that the business is strong, the pipeline is strong and we’ve got confidence going into the year,” Patterson said.

While Salesforce execs were clearly pumped up yesterday with good reason, there’s still doubt out in investor land that manifested itself in the stock starting down and staying down all day. It will be, as Hynes suggested, up to Salesforce to keep proving them wrong. As long as they keep producing quarters like the one they had this week, they should be just fine, regardless of what the naysayers on Wall Street may be thinking today.

Feb
18
2021
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Census raises $16M Series A to help companies put their data warehouses to work

Census, a startup that helps businesses sync their customer data from their data warehouses to their various business tools like Salesforce and Marketo, today announced that it has raised a $16 million Series A round led by Sequoia Capital. Other participants in this round include Andreessen Horowitz, which led the company’s $4.3 million seed round last year, as well as several notable angles, including Figma CEO Dylan Field, GitHub CTO Jason Warner, Notion COO Akshay Kothari and Rippling CEO Parker Conrad.

The company is part of a new crop of startups that are building on top of data warehouses. The general idea behind Census is to help businesses operationalize the data in their data warehouses, which was traditionally only used for analytics and reporting use cases. But as businesses realized that all the data they needed was already available in their data warehouses and that they could use that as a single source of truth without having to build additional integrations, an ecosystem of companies that operationalize this data started to form.

The company argues that the modern data stack, with data warehouses like Amazon Redshift, Google BigQuery and Snowflake at its core, offers all of the tools a business needs to extract and transform data (like Fivetran, dbt) and then visualize it (think Looker).

Tools like Census then essentially function as a new layer that sits between the data warehouse and the business tools that can help companies extract value from this data. With that, users can easily sync their product data into a marketing tool like Marketo or a CRM service like Salesforce, for example.

Image Credits: Census

Three years ago, we were the first to ask, ‘Why are we relying on a clumsy tangle of wires connecting every app when everything we need is already in the warehouse? What if you could leverage your data team to drive operations?’ When the data warehouse is connected to the rest of the business, the possibilities are limitless,” Census explains in today’s announcement. “When we launched, our focus was enabling product-led companies like Figma, Canva, and Notion to drive better marketing, sales, and customer success. Along the way, our customers have pulled Census into more and more scenarios, like auto-prioritizing support tickets in Zendesk, automating invoices in Netsuite, or even integrating with HR systems.

Census already integrates with dozens of different services and data tools and its customers include the likes of Clearbit, Figma, Fivetran, LogDNA, Loom and Notion.

Looking ahead, Census plans to use the new funding to launch new features like deeper data validation and a visual query experience. In addition, it also plans to launch code-based orchestration to make Census workflows versionable and make it easier to integrate them into an enterprise orchestration system.

Dec
02
2020
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With Hyperforce, Salesforce lets you move your data to any public cloud

For much of its existence, Salesforce was a cloud service on its own with its own cloud resources available for its customers, but as the company and cloud computing in general has evolved, Salesforce has moved some of its workloads to other clouds like AWS, Azure and Google. Now, it wants to allow customers to do the same.

To help facilitate that, the company announced Hyperforce today at its Dreamforce customer conference, a new architecture designed from the ground up to help customers deliver workloads to the public cloud of choice.

The idea behind Hyperforce is to enable customers to take all of the data in what Salesforce calls Customer 360 — that’s the company’s detailed view of the customer across channels, Salesforce products and even other systems outside the Salesforce family — and be able to store that in whichever public cloud you want in whatever region you happen to operate. For now, they are in India and Germany, but there are plans to add support for 10 additional countries over the next year.

Company president and COO Bret Taylor introduced the new approach. “We call this new capability Hyperforce. Simply put, we’ve been working to enable us to deliver Salesforce on public cloud infrastructure all around the world,” Taylor said.

Holger Mueller, an analyst at Constellation Research, says the underlying architecture running the Salesforce system is long overdue for an overhaul. At over 20 years old, it’s been around a long time now, but Mueller says that it’s about more than modernizing. “The pandemic requires SaaS vendors to move their offerings from their own data centers to [public cloud] data centers, so they can offer both architectural and commercial elasticity to their customers,” he said.

Mueller added that by bringing Salesforce data into the public cloud, besides the obvious data sovereignty issues it solves, it brings all of the advantages of using public cloud resources.

“Salesforce can now offer both architectural and commercial elasticity to their customers. Commercial elasticity matters a lot to CIOs and CTOs these days because when your business slows down, you pay less, and when your business accelerates, then you can afford to pay more,” he said. He says that Salesforce is bringing an early generation SaaS product and pulling it into the modern age, something that is imperative at this point in the company’s evolution.

But while moving forward, Taylor was careful to point out that they rebuilt the system in such a way as to be fully backward compatible, so you don’t have to throw out all of the applications and investment you’ve made over the years, something that most companies couldn’t afford to do.”For you developers out there, This is the most remarkable thing. It is 100% backward compatible, your apps will work with no changes and you can benefit from all of this automatically,” he said.

The company will be rolling out Hyperforce over the next year and beyond as it opens in more regions.

Oct
26
2020
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Freshworks (re-)launches its CRM service

Freshworks, the customer and employee engagement company that offers a range of products, from call center and customer support software to HR tools and marketing automation services, today announced the launch of its newest product: Freshworks CRM. The new service, which the company built on top of its new Freshworks Neo platform, is meant to give sales and marketing teams all of the tools they need to get a better view of their customers — with a bit of machine learning thrown in for better predictions.

Freshworks CRM is essentially a rebrand of the company’s Freshsales service, combined with the company’s capabilities of its Freshmarketer marketing automation tool.

“Freshworks CRM unites Freshsales and Freshmarketer capabilities into one solution, which leverages an embedded customer data platform for an unprecedented and 360-degree view of the customer throughout their entire journey,” a company spokesperson told me.

The promise here is that this improved CRM solution is able to provide teams with a more complete view of their (potential) customers thanks to the unified view — and aggregated data — that the company’s Neo platform provides.

The company argues that the majority of CRM users quickly become disillusioned with their CRM service of choice — and the reason for that is because the data is poor. That’s where Freshworks thinks it can make a difference.

Freshworks CRM delivers upon the original promise of CRM: a single solution that combines AI-driven data, insights and intelligence and puts the customer front and center of business goals,” said Prakash Ramamurthy, the company’s chief product officer. “We built Freshworks CRM to harness the power of data and create immediate value, challenging legacy CRM solutions that have failed sales teams with clunky interfaces and incomplete data.”

The idea here is to provide teams with all of their marketing and sales data in a single dashboard and provide AI-assisted insights to them to help drive their decision making, which in turn should lead to a better customer experience — and more sales. The service offers predictive lead scoring and qualification, based on a host of signals users can customize to their needs, as well as Slack and Teams integrations, built-in telephony with call recording to reach out to prospects and more. A lot of these features were already available in Freshsales, too.

“The challenge for online education is the ‘completion rate’. To increase this, we need to understand the ‘Why’ aspect for a student to attend a course and design ‘What’ & ‘How’ to meet the personalized needs of our students so they can achieve their individual goals,” said Mamnoon Hadi Khan, the chief analytics officer at Shaw Academy. “With Freshworks CRM, Shaw Academy can track the entire student customer journey to better engage with them through our dedicated Student Success Managers and leverage AI to personalize their learning experience — meeting their objectives.”

Pricing for Freshworks CRM starts at $29 per user/month and goes up to $125 per user/month for the full enterprise plan with more advanced features.

Oct
26
2020
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SAP shares fall sharply after COVID-19 cuts revenue, profit forecast at software giant

SAP announced its Q3 earnings yesterday, with its aggregate results down across the board. And after missing earnings expectations, the company also revised its 2021 outlook down. The combined bad news spooked investors, crashing its shares by more than 20% in pre-market trading, and the stock wasn’t showing any signs of improving in early trading.

The German software giant has lost tens of billions of dollars in market cap as a result.

The overall report was gloomy, with total revenues falling 4% to €6.54 billion, cloud and software revenue down 2% and operating profit down 12%. The only bright spot was its pure-cloud category, which grew 11%, to €1.98 billion.

SAP’s revenue result was around €310 million under expectations, though its per-share profit beat both adjusted and non-adjusted expectations.

While SAP’s big revenue miss might have been enough to send investors racing for the exits, its revised forecast doubled concerns. Even though the company said that its customers are accelerating their move to the cloud during the pandemic — something that TechCrunch has been tracking for some time now — SAP also said the pandemic is slowing sales and large projects.

Constellation Research analyst Holger Mueller says this is resulting in an unexpected revenue slow-down.

“What has happened at SAP is a cloud revenue delay as customers know that SAP is only investing into cloud products, and they have to migrate to those in the future. The news is that SAP customers are not migrating to the cloud during a pandemic,” Mueller told TechCrunch.

In a sign of the times, SAP spent a portion of its earnings results talking about 2025 results, a maneuver that failed to allay investor concerns that the pandemic was dramatically impacting SAP’s business today and in the coming year.

For 2020, SAP made the following cuts to its forecasts:

  • €8.0 – 8.2 billion non-IFRS cloud revenue at constant currencies (previously €8.3 – 8.7 billion)
  • €23.1 – 23.6 billion non-IFRS cloud and software revenue at constant currencies (previously €23.4 – 24.0 billion)
  • €27.2 – 27.8 billion non-IFRS total revenue at constant currencies (previously €27.8 – 28.5 billion)
  • €8.1 – 8.5 billion non-IFRS operating profit at constant currencies (previously €8.1 – 8.7 billion)

So, €300 million to €500 million in cloud revenue is now gone, along with €300 million to €400 million in cloud and software revenue, and €600 to €700 million in total revenue. That cut profit expectations by up to €200 million.

The company, however, is trying to put a happy face on the future projections, believing that as the impact of COVID begins to diminish, existing customers will eventually shift to the cloud and that will drive significant new revenues over the longer term. The trade-off is short-term pain for the next year or two.

“Over the next two years, we expect to see muted growth of revenue accompanied by a flat to slightly lower operating profit. After 2022 momentum will pick up considerably though. Initial headwinds of the accelerated cloud transition will start to turn into tailwinds for revenue and profit. […] That translates to accelerated revenue growth and double digit operating profit growth from 2023 onwards,” SAP CFO Luka Mucic said in a call with analysts this morning.

The question now becomes can they meet these projections, and if the longer-term approach during a pandemic will placate investors. As of this morning, they weren’t looking happy about it.

Oct
22
2020
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Extra Crunch Partner Perk: Get 6 months free of Zendesk Support and Sales CRM

We’re excited to announce an update to the Extra Crunch Partner Perk from Zendesk. Starting today, annual and two-year Extra Crunch members that are new to Zendesk, and meet their startup qualifications, can now receive six months of free access to Zendesk’s Sales CRM, in addition to Zendesk Support Suite, Zendesk Explore and Zendesk Sunshine.

Here is an overview of the program.

Zendesk is a service-first CRM company with support, sales and customer engagement products designed to improve customer relationships. This offer is only available for startups that are new to Zendesk, have fewer than 100 employees and are funded but have not raised beyond a Series B.

The Zendesk Partner Perk from Extra Crunch is inclusive of subscription fees, free for six months, after which you will be responsible for payment. Any downgrades to your Zendesk subscription will result in the forfeiture of the promotion, so please check with Zendesk first regarding any changes (startups@zendesk.com). Some add-ons such as Zendesk Talk and Zendesk Sell minutes are not included. Complete details of what’s included can be found here.

Oct
06
2020
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Scratchpad announces $3.6M seed to put workspace on top of Salesforce

One thing that annoys sales people is entering data into a CRM like Salesforce because it’s time spent not selling. Part of the problem is Salesforce is a database and as such is not necessarily designed for speed. Scratchpad wants to simplify that process by creating a workspace on top of the CRM to accelerate the administrative side of the job.

Today, the company announced a $3.6 million seed round led by Accel with participation from Shrug Capital and Sound Ventures, the firm run by Ashton Kutcher and Guy Oseary, as well as several individual investors. The round, which closed at the end of last year, hadn’t been previously announced.

Last year, company co-founder and CEO Pouyan Salehi had just stepped down from his previous company PersistIQ, a sales enablement startup that came out of Y Combinator in 2014. He and his co-founder Cyrus Karbassiyoon began researching a new company, and the idea for Scratchpad came to them when they simply sat down and watched how salespeople were working. They noted that they were using a hodgepodge of tools like taking notes in Evernote or Google Docs, tracking their pipeline in Excel or Google Sheets and tracking tasks with paper lists or sticky notes.

They recognized that these tools were disconnected from Salesforce and required hours of manual work copying and pasting this data. That’s when they saw there was an opportunity here to build a tool to track all of this information in one place and connect it to Salesforce to automate a lot of this grunt work.

“It eventually evolved into this idea that we’re calling “The Workspace” because everyone has Salesforce, but they are working with all of these other tools that then they just have to literally spend hours — and we saw some reps block off four-hour chunks on their calendar — just to copy and paste from their documents, spreadsheets or notes into Salesforce for their pipeline reviews. And that’s how the idea for Scratchpad came to be,” Salehi told TechCrunch.

Today, a salesperson can install Scratchpad as a Chrome plug-in, connect to Salesforce with their log-in credentials and create a two-way connection between the tools. Scratchpad pulls all of their pipeline data into the WorkSpace. They can cycle through the various fields to enter information quickly, enter notes and track tasks (which can be pulled from email and calendar) all in one place.

What’s more, because all of this information is linked to Salesforce, anything you enter in Scratchpad updates the corresponding fields and sections in Salesforce automatically. And any new opportunities that start in Salesforce update in Scratchpad.

The company has been operating for about a year and has thousands of users, although many are currently using the free tier. It has seven employees, with plans to hire more over the next year. As he builds his second company, Salehi says he and his co-founder are building on a foundation of diversity and inclusion.

“By nature, we are very diverse in many different perspectives that you can look at, including gender, age, location and backgrounds,” he said. He adds that building a diverse and inclusive workforce is important to the company.

“And so even in our hiring process, we incorporated certain elements just to make sure that we’re not introducing bias in any sort of way, or at least recognizing that the natural bias and thoughts we might have. We look at things like doing blind looks at resumes and it’s something that we take very, very seriously,” he said.

While the company is built on top of Salesforce today, he says it could expand to include other databases or sources of information where the product could also work. For now though, he sees an opportunity to build another company in the sales arena to help reduce the amount of work associated with updating the CRM database.

Sep
18
2020
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Salesforce announces 12,000 new jobs in the next year just weeks after laying off 1,000

In a case of bizarre timing, Salesforce announced it was laying off 1,000 employees at the end of last month just a day after announcing a monster quarter with over $5 billion in revenue, putting the company on a $20 billion revenue run rate for the first time. The juxtaposition was hard to miss.

Earlier today, Salesforce CEO and co-founder Marc Benioff announced in a tweet that the company would be hiring 4,000 new employees in the next six months, and 12,000 in the next year. While it seems like a mixed message, it’s probably more about reallocating resources to areas where they are needed more.

While Salesforce wouldn’t comment further on the hirings, the company has obviously been doing well in spite of the pandemic, which has had an impact on customers. In the prior quarter, the company forecasted that it would have slower revenue growth due to giving some customers facing hard times with economic downturn time to pay their bills.

That’s why it was surprising when the CRM giant announced its earnings in August and that it had done so well in spite of all that. While the company was laying off those 1,000 people, it did indicate it would give those employees 60 days to find other positions in the company. With these new jobs, assuming they are positions the laid-off employees are qualified for, they could have a variety of positions from which to choose.

The company had 54,000 employees when it announced the layoffs, which accounted for 1.9% of the workforce. If it ends up adding the 12,000 news jobs in the next year, that would put the company at approximately 65,000 employees by this time next year.

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