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Digital Transformation

Salesforce’s Marc Benioff Discusses “Connected Digital Revolution,” Customer Focus and Q4 Results with CNBC’s Jim Cramer

Salesforce Chairman and co-CEO Marc Benioff discussed on Monday the “connected digital revolution,” in an interview with Jim Cramer on CNBC’s “Mad Money” following the release of Q4 and full year fiscal 2019 fiscal results.

Are today’s business-to-business companies and business-to-consumer companies pursuing different strategies? Definitely not, Benioff said.

“Every B2B company and every B2C company is becoming a B2B2C company,” he said. “What company does not have to directly connect with the consumer? You can be a traditional industrial company. We’ve talked about them before, selling to B2B resellers. You have to be ready in this kind of connected digital revolution to be able to connect directly to your consumer as well. That’s a major trend that we’ve benefited from for so many years now and you’re going to continue to see that play out.”

Benioff pointed to the fact that global financial services company Barclays is leveraging Salesforce’s platform to help automate interactions among its bankers and its 50 million customers. Salesforce technology is supporting a huge, customer-focused transformation at the company, he said.

"I’ve never been more excited about Salesforce than I am right now," Benioff said. Salesforce announced fourth-quarter revenue of $3.6 billion, an increase of 26 percent year-over-year. Full year revenue was $13.28 billion, also up 26 percent year-over-year.

Salesforce trades on the New York Stock Exchange under the ticker symbol CRM. For more on the earnings report, read the press release and see the results report slides. The full video interview is available here.


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