{"id":19672,"date":"2019-06-14T05:00:00","date_gmt":"2019-06-14T12:00:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=19672"},"modified":"2020-09-18T00:35:51","modified_gmt":"2020-09-18T00:35:51","slug":"marc-benioff-discusses-digital-transformation-trust-in-tech-and-q1-results-with-cnbcs-jim-cramer","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/news\/stories\/marc-benioff-discusses-digital-transformation-trust-in-tech-and-q1-results-with-cnbcs-jim-cramer\/","title":{"rendered":"Marc Benioff Discusses Digital Transformation, Trust in Tech and Q1 Results with CNBC\u2019s Jim Cramer"},"content":{"rendered":"<div class=\"wp-block-image__wrapper\"><figure class=\"wp-block-image size-large prevent-download\">\n\t<a href=\"https:\/\/www.cnbc.com\/video\/2019\/06\/04\/salesforces-benioff-massive-digital-transformation-is-driving-growth.html\">\n\t\t<a href=\"#\" class=\"wp-block-image__modal-toggle\" aria-expanded=\"false\" data-modal-id=\"19673-modal\"><span class=\"screen-reader-text\">Open Image Modal<\/span><img loading=\"lazy\" decoding=\"async\" width=\"769\" height=\"432\" src=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?strip=all&#038;quality=95\" alt=\"\" class=\"wp-image-19673\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png 769w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=300&amp;h=169 300w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=264&amp;h=148 264w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=500&amp;h=281 500w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=678&amp;h=381 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=150&amp;h=84 150w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=314&amp;h=177 314w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=344&amp;h=193 344w\" sizes=\"auto, (max-width: 769px) 100vw, 769px\" \/><\/a>\n\t<\/a>\n\t\n<\/figure><div id=\"19673-modal\" class=\"image-modal\" aria-hidden=\"true\" aria-labelledby=\"image-dialog-title\"><div class=\"image-modal__overlay\" tabindex=\"-1\" data-a11y-dialog-hide><\/div><div class=\"image-modal__content\" role=\"dialog\"><button class=\"image-modal__close-button\" type=\"button\" data-a11y-dialog-hide aria-label=\"Close this image dialog window\"><svg viewBox=\"0 0 26 25\" height=\"16\" width=\"16\" fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><rect x=\".626\" y=\"22.753\" width=\"32\" height=\"3\" rx=\"1.5\" transform=\"rotate(-45 .626 22.753)\"\/><rect x=\"2.747\" y=\".125\" width=\"32\" height=\"3\" rx=\"1.5\" transform=\"rotate(45 2.747 .125)\"\/><\/svg><\/button><h1 id=\"image-dialog-title\" class=\"screen-reader-text\">Image Modal<\/h1><figure class=\"wp-block-image size-large prevent-download\">\n\t<a href=\"https:\/\/www.cnbc.com\/video\/2019\/06\/04\/salesforces-benioff-massive-digital-transformation-is-driving-growth.html\">\n\t\t<img loading=\"lazy\" decoding=\"async\" width=\"769\" height=\"432\" src=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?strip=all&#038;quality=95\" alt=\"\" class=\"wp-image-19673\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png 769w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=300&amp;h=169 300w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=264&amp;h=148 264w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=500&amp;h=281 500w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=678&amp;h=381 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=150&amp;h=84 150w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=314&amp;h=177 314w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2020\/08\/madmon.png?w=344&amp;h=193 344w\" sizes=\"auto, (max-width: 769px) 100vw, 769px\" \/>\n\t<\/a>\n\t\n<\/figure><\/div><\/div><\/div>\n<p>Salesforce Chairman and co-CEO Marc Benioff discussed widespread \u201cdigital transformation\u201d , as well as breaches of trust in the tech industry, in an interview with Jim Cramer on CNBC\u2019s \u201cMad Money\u201d following the release of record Q1 2020 fiscal <a href=\"https:\/\/www.salesforce.com\/company\/news-press\/press-releases\/2019\/06\/190406-pq\/\">results<\/a>.<\/p><p>\u201cEvery customer is going through a massive digital transformation,\u201d Benioff said. \u201cThis is as big as Y2K for the tech industry.\u201d Southwest, for example, is transforming the delivery of its HR services with new self-service, chat, and mobile capabilities for more than 60,000 employees. <\/p><p>Cramer called the possibility of new <a href=\"https:\/\/www.cnbc.com\/2019\/06\/03\/apple-google-facebook-amazon-facing-potential-regulatory-scrutiny.html\">government regulations<\/a> imposed on the tech industry an \u201cill-advised war on tech.\u201d<\/p><p>\u201cI\u2019m going to have to disagree with you on this point,\u201d Benioff said. \u201cWe are at a point in our industry where enough is enough. We need to get the values straight with these tech companies. There are some things going on regarding the manipulation of consumers, misuse of the data, serious issues with privacy. Those values need to change and some companies need to be held accountable.\u201d<\/p><p>Benioff has previously <a href=\"https:\/\/www.salesforce.com\/company\/news-press\/stories\/2018\/5\/051618\/\">called for<\/a> a national privacy law in the U.S. and he reiterated today that America is behind Europe in advancing the legislation to protect consumers and their privacy. While discussing the U.S. government, Benioff added that CEOs he is talking to are very concerned about the trade environment as widespread tariffs are imposed.<\/p><p>Salesforce <a href=\"https:\/\/www.salesforce.com\/company\/news-press\/press-releases\/2019\/06\/190406-pq\/\">announced<\/a> Q1 2020 revenue of $3.74 billion, up 24 percent year-over-year, with operating cash flow of almost $2 billion, up 34 percent year-over-year. \u201cWe have a massive opportunity in front of us and are well-positioned for long-term growth as the world&#8217;s #1 CRM,\u201d he said. <\/p><p>Salesforce trades on the New York Stock Exchange under the ticker symbol CRM. For more on the earnings report, read the <a href=\"https:\/\/www.salesforce.com\/company\/news-press\/press-releases\/2019\/06\/190406-pq\/\">press release<\/a>. The full Mad Money video interview is available <a href=\"https:\/\/www.cnbc.com\/video\/2019\/06\/04\/salesforces-benioff-massive-digital-transformation-is-driving-growth.html\">here<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Salesforce Chairman and co-CEO Marc Benioff discussed widespread \u201cdigital transformation\u201d , as well as breaches of trust in the tech industry, in an interview with Jim Cramer on CNBC\u2019s \u201cMad Money\u201d following the release of record Q1 2020 fiscal results. \u201cEvery customer is going through a massive digital transformation,\u201d Benioff said. \u201cThis is as big [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sf_subhead":"","sf_i18n_disclaimer":false,"_jetpack_memberships_contains_paid_content":false,"alternateThumbnailId":0,"sf_product_cta_id":0,"footnotes":""},"categories":[1],"tags":[],"sf_content_type":[1735],"sf_theme":[1912],"sf_topic":[1744,1726,1775,1763,1769],"sf_product":[],"sf_industry":[],"sf_role":[],"sf_multimedia_asset":[2055],"sf_location":[1724],"sf_collection":[],"sf_visibility":[],"coauthors":[],"class_list":["post-19672","post","type-post","status-publish","format-standard","hentry","category-uncategorized","sf_content_type-news-highlights","sf_theme-digital-transformation","sf_topic-customer-success","sf_topic-digital-transformation","sf_topic-earnings","sf_topic-innovation","sf_topic-public-policy","sf_multimedia_asset-video","sf_location-amer"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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