The Economist December 5th 2020 pp65 |Business|Business software| “Get me some Slack” “The Boss of Salesforce has high sights set on tech’s big league”
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Summary of Article
Salesforce, CRM, trails Microsoft well behind MSFT market capitalization of $1.6trn at $0.22trn but both have hit stock price highs currently at about 50% higher than June 20th 2019 levels. In recent times the business suite of MSFT has gotten even more formidable with the addition of their videoconferencing known as Team. Number two in business software, CRM, hopes to boost its appeal by leveraging, integrating and synergizing its “$27.7bn deal” for Slack, an instant-messaging tool, and $25bn spent for “over a dozen firms to boost its computing chops”…[including] Tableau, a data analytics platform and MuleSoft, which helps firms connect legacy IT systems to the cloud.” Given these new capabilities if melded favorably will increase CRM’s competitiveness as Slack includes “2,400 software tools…that compete with” MSFT and the use of the instant messaging as an interface for Salesforce. Further, businesses want to customize programs “’with clicks not code’ as Salesforce puts it and like MSFT, although smaller, “Salesforce’s Developer 360” is improving thanks to “MuleSoft and Einstein, a set of artificial intelligence services.” To really make a run at MSFT Mark Moerdler (Berstein) points out that CRM “would need to build (or buy) capabilities in document storage, cyber-security and more.” Mr Butterfield (Slack) notes that CRM CEO Marc Benioff “has already started one revolution [Software-As-A-Service (SAAS)].”
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