Salesforce Spreading Wings as Tech-world Cross Fingers
Click here to read the magazine
Mergers and acquisitions have always created quite a lot noise in the industrial sector. It kicks open a pandora box of speculations, expectations, and hopes for many. Shares of the acquired company and parent company show bullish and bearish tendencies whenever the news of an acquisition pops up. Quite naturally, when Salesforce, acquired Quip, document-editing start-up it surely hit the headlines with a bash. Salesforce, provider of enterprise cloud computing solutions with a focus on customer relationship management (CRM) with this acquisition is joining Microsoft and Google in enterprise productivity race. Quip’s wordprocessing platform is designed to be used by teams to edit documents or spreadsheets on mobile devices and desktops.
The acquisition indicates that enterprise giants across various verticals are moving in the direction of end-to-end solutions. It also signals of more mergers and acquisitions in enterprise software sector. Now the tech world is seriously contemplating about the implications of recent developments. Salesforce before this acquisition has also welcomed to its fold the e-commerce software platform Demandware. With the acquisition of Quip, the ground is set for more fierce competition in the field.
Enterprise software spending is expected to reach $326 billion this year, and the market is expected to be more saturated and fragmented than ever before. And since the potential for growth is so high, the chances of an enterprising start-up being acquired by software giant got many folded in the recent years.
Salesforce has emerged as a leader in Customer Relationship Management with its superior capabilities and cloud connectivity. The current atmosphere is shaped in such a way that those companies that do not use CRM tools are effectively stunning their organization’s growth. Salesforce being the most popular solution by substantial margin will continue to dominate the market. There is no wonder why Forbes dubbed Salesforce CEO Marc Benioff as ‘Tech’s Mad Genius’ and ‘The Decade’s Top Innovator’. The budding entrepreneurs and managers have a lot to learn from this man.