Salesforce development is the perfect blend of programming and automation techniques. Thus, it has become a remarkable drift nowadays. Salesforce is used in the different business arenas to accomplish smooth operations. As a unique component, salesforce implementation is a top preference for multiple businesses to satisfy their clients and make them happy. Not only that, but Salesforce also maintains customer retention, gets a birds-eye view of companies’ business insights, and much more!
Choosing a good Salesforce development company is essential because the right Salesforce development company helps any business to achieve its targeted goal. A certified Salesforce development company brings forth customized solutions as per the business necessity and supports them throughout the process. Implementation of salesforce technology can simplify complicated organizational operations by breaking them into small processes and make them easy to proceed.
To leverage the full potential of Salesforce, you must require a suite of dependable and logical Salesforce development services. But it is really challenging to find out the Salesforce development solution perfect for your business. If you’re confused and unable to understand which company can best meet your business objectives, then this article will greatly help you.
Here we’ve listed down the top 10 Salesforce development companies in India, and you can pick one of them to get started.
Right Salesforce development company saves time and pulls things together to find the right direction for your business that stimulates growth. Thus, collaborating with the right Salesforce consultants in India can be paramount for your business. This meaningful partnership contributes to vital decision-making, planning, designing, & development.
Let’s have eyes on the top 10 Salesforce development companies in India and their valuable contributions to transforming business solutions.
Mind Digital Group is India’s leading Salesforce development company, founded in 2013. Since then, they have harnessed the true power of the world’s most powerful CRM platform, i.e., Salesforce. MDG works on the core level of salesforce development and maintenance. Mind Digital Group has an impeccable track record in Salesforce integration, Customization, and architecture designing.
Mind Digital Group is the most trusted Salesforce development company supported by an experienced team of Salesforce developers, architects, and integration certified to deliver resilient, perfectly optimized CRM on time.
MDG not only develop a Salesforce CRM platform for your business but also help their clients to put together their business on a single, secure, and measurable platform so that growth can be measured easily; along with that, Salesforce developers also make pre-built apps to skyrocket the capacity of sells, service, and marketing.
Capgemini is a famous and globally reputed Salesforce development company that has been offering end-to-end salesforce consultation for over a decade. Capgemini, one of the top Salesforce development companies, strives to deliver blue-chip Salesforce solutions that facilitate business growth. Capgemini is highly recognized in the IT industry for its remarkable contribution to Salesforce development services.
Tata Consultancy Services was founded on 1 st April 1968. They employ a divergent cloud-based platform in Salesforce to ensure their clients receive cost-effective yet valuable services. TCS possesses very high engineering expertise in Salesforce development and support. They’ve undoubtedly a team of highly skilled & certified Salesforce developers (more than 4,00,000) to deliver the best Salesforce CRM solutions in different industry segments across the globe.
IBM falls under the top category in Salesforce development services in India. They are equipped with a qualified and certified team of Salesforce developers, architects, and integration specialists, encouraging the correct implementation of data power throughout the Salesforce clouds. Their meticulously designed Salesforce Einstein takes care of the entire workflow and makes effective decisions that advocate business growth in both sales and services.
Deloitte Digital is a pioneer in delivering services for Salesforce development projects in a versatile business spectrum. Deloitte spreads across 35 countries and consistently provides impeccable salesforce services with its vast team of certified and skillful salesforce developers. They are leveraging their strong expertise in Salesforce development and building a customized CRM solution that fulfills clients’ business requirements.
When we’re talking about leading Salesforce development companies in India, we can’t forget the famous industry Jargon “Accenture”. The MNC is empowered with the best salesforce developers who collaborate strongly to develop, design, and bring forth excellent outcomes. As per their business report, they’ve successfully delivered 1500+ Salesforce projects around the globe and established their name in the relevant field with high recognition.
4C Wipro has become a great competitor in the Salesforce development industry, and they have been delivering top-notch Salesforce services and solutions for more than ten years. They help their clients to empower their businesses with Salesforce integration. Wipro is the first company that simplifies the business strategy for their clients and makes their journey smooth, effective, and meaningful.
Cognizant is a prestigious and globally accepted Salesforce development Company that delivers end-to-end Salesforce consultation. They are renowned for offering a suite of services such as consulting, designing, implementing, and supporting different brands’ business roadmaps and expediting sustainable growth and positive business transformation.
Tech Mahindra is one of the fast-growing IT companies incepted in 1986 by Anand Mahindra. They are recognized for their expertise in Salesforce development across India and the globe. Tech Mahindra possesses a robust portfolio in the field of Salesforce development; thus, the company is a trusted option for emphasizing the implementation, development & maintenance of Salesforce solutions.
Hyperlink infosystem is a newbie in the Salesforce development industry, incepted in 2011 as a mobile development company. They used to work on particular domains such as IoT, Artificial Intelligence, and blockchain. Though the company is new, they’ve successfully established its position in the Salesforce development industry in India. They deliver various comprehensive CRM solutions with the help of a certified and highly experienced team of Salesforce developers.
These are the top 10 Salesforce development companies in India. The entire list is based on their expertise, quality of services they offer, & recognition in the Salesforce development field. All these companies are in a class by themselves with a strong portfolio. You can pick any of them according to your business requirements and budget because an authentic and experienced Salesforce development partner significantly helps you to step up your business growth.
These are the top 10 Salesforce development companies in India. The entire list is based on their expertise, quality of services they offer, & recognition in the Salesforce development field. All these companies are in a class by themselves with a strong portfolio. You can pick any of them according to your business requirements and budget because an authentic and experienced Salesforce development partner significantly helps you to step up your business growth.
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In the world of SaaS (software as a service), there are a few different types of companies. You have your vertical market software companies, think Unity (U) and Constellation Software (OTCPK:CNSWF), both of which I’ve written about at length. And you have horizontal market software companies that serve a variety of verticals - SAP SE (SAP) and Oracle (ORCL) are good examples of those.
And then there’s the third type of software: Microsoft Corporation (MSFT).
Why is Microsoft in a category of its own? Because Microsoft is virtually an HMS bundle monopoly.
Let me explain.
Remember Zoom Video Communications, Inc. (ZM)? How about DocuSign, Inc. (DOCU)? These two pandemic darlings were all the rage in 2020, but sales growth has nearly fizzled out and investors have begun to flee. Microsoft did not escape the 2022 tech crash, either, but it fared much better than Zoom and DocuSign, to say the least…
So what happened to Zoom and DocuSign? What does this all have to do with Salesforce, Inc. (NYSE:CRM)? Because I believe Salesforce is replicating just what made Microsoft so successful. Furthermore, I believe they’ve reached “escape velocity” and can’t be crushed the same way Microsoft has so often crushed its horizontal market competitors. (Looking at you, Zoom)...
Let’s back up a bit. Remember those vertical market companies I mentioned just a bit earlier? Let’s talk about what makes those special, and differentiates them from HMS companies, Salesforce and Microsoft included.
You see, vertical markets companies usually target a small niche, like software to manage your local bowling alley, or funeral home scheduling software, markets so small they don’t interest the likes of Microsoft. Sure Microsoft could make better software than what’s on the market, but why waste the time when the total addressable market ("TAM") may only be $1-10mm? Unity started as software to build FPS video games on the Mac, markets like that simply lack the economic sense for a company like Microsoft to enter.
But horizontal markets like spreadsheets, presentations, or document storage solutions? You better bet Microsoft will be all over that. And it’s no surprise, when the prize is in the multi-billions it makes sense to devote the best, and majority of your resources, to that goal.
It’s because of that “prize” (large TAM) that P/E firms and tech investors are fine foregoing profitability today, because they believe the longer they wait to pursue profitability, the more of that future pie they will take. Delayed gratification.
Internal Capital aka Cash Flow, that’s what.
That’s where Microsoft shines. The cash flow from Azure and Office gives them the capital they need to build new services like Teams which are crushing software products like Zoom. Think about it from the perspective of a manager, you love Zoom, but Teams is half the price because you are already on the office bundle, so why bother with another solution?
It’s no wonder why Peter Theil has been quoted as saying:
[To build a successful startup] You have to be 10 times better than second best.
Is Zoom 10x better than Teams, probably not, is it 20% better?… probably. But that doesn’t move the needle on sales.
Other companies employ a similar strategy to Microsoft, epic games, for example, uses the funds from its smash-hit Fortnite to build its game development tool Unreal. Internal capital is a powerful tool.
That’s great, but what does any of this have to do with Salesforce?
I’m happy you asked!
It’s because Salesforce too has replicated that strategy but has given it its own unique Salesforce flavor. What’s that flavor? Acquisitions. Epic and Microsoft funnel cash flow from profitable business segments to less profitable segments internally. Salesforce focuses on acquisitions (and internal growth).
Now many companies do acquisitions, including Microsoft. Just look at that massive Activision deal. But for Salesforce, acquisitions are an integral part of their strategy.
Some investors hate acquisitions, they see them as value-destroyers, as the acquiring firm is usually forced to pay a hefty premium on the target it acquires. Others love acquisitions. Berkshire Hathaway (BRK.A, BRK.B) is a case study of acquisitions gone right.
My view? I’m acquisition-agnostic. If a company can employ valuations in a manner that drives value for shareholders, I’m all for it. Salesforce has cracked that code in a manner that many other companies have not.
I won’t rehash the stats here, but Salesforce has acquired a great deal of software companies, often for billions of dollars. If you’d like to read more about the individual deals, I’d shift your attention here.
What I would like to talk address is how these deals have driven shareholder value. Salesforce has been critiqued in the past for overpaying on takeovers, and Slack is a good example of that, at 26x sales investors scratched their heads. But what investors miss is the benefit of being in the Salesforce ecosystem. Just as Microsoft can leverage its office suite to push their Teams software, so too can Salesforce use its other software, like its namesake CRM software, to push Slack. This concept of bundling is what makes Microsoft, and now Salesforce, such a powerful force in the HMS world.
Bundled software creates a strong flywheel effect.
Salesforce has reached the point where its own bundle of products, cannot be threatened in the same way Zoom can by Microsoft, Salesforce has its own bundles. Just like how Microsoft can offer Teams at a discount to office customers, so too can Salesforce offer slack to its CRM customers.
As Salesforce continues to acquire businesses, this “sales force” continues to strengthen as the flywheel effect is further strengthened.
For now, let’s shift our attention to the financials of both companies.
Both Microsoft and Salesforce have had strong revenue growth over the last 5 years. Salesforce’s growth has been exceptionally strong as they’ve grown through issuing equity to target companies alongside using internal capital.
On a per share basis, CFO growth has been relatively comparable between the two companies. Both have roughly doubled over the past 5 years and have continued to grow even in the face of a very challenging macro environment. Given the similarity of their business models, seeing such similar financial results does not surprise me much.
Now that we’ve gone through the financials, I will present you with my valuation for Salesforce. Let me first preface this with some more context, in my articles I usually employ two methods, a P/E comparison, and FCF (free cash flow) Discount Model. For the sake of Salesforce, I’m performing just the DCF (discounted cash flow) component. If I were to employ a P/E comparison I believe it would skew the results because Salesforce keeps its earnings low as part of its strategy to reinvest into the business. Also, pertaining to the DCF, I am factoring in an expectation for acquisitions to continue, albeit at a slower pace than they previously had occurred.
Base Case Assumptions:
Growth rate for next 7 Years (excl. 2022 & 2023)
Terminal Growth Rate
Intrinsic Value per Share ($USD)
Current Share Price ($USD)
Source: Yahoo Finance Authors Estimates & Calculations
In my base case, I’m assuming revenue growth of 17% over the next 7 years excluding 2022, and 2023. This is somewhat slower than what they have historically been able to achieve (20%+) but I wanted to err on the side of conservatism due to the unknown nature of future acquisitions and any potential impact to share count.
As you can see above, Salesforce’s shares are roughly at fair value, perhaps slightly undervalued. But that doesn’t paint the whole picture. For my final take on valuation, please refer to the conclusion.
Before I provide my final assessment on Salesforce let me highlight the biggest risk I am concerned with: tightening financial conditions (perhaps that is a bit of a euphemism).
As rates have risen, valuations continue to compress across the tech sector. On one hand, as an acquirer, this benefits Salesforce vis-à-vis lower prices. But on the other hand, it may slow the pace of acquisitions, as target companies become more hesitant to sell in a period of lower valuations. Historically, salesforce has acquired companies using a mixture of stock and cash, obviously, with shares much lower than they were last year, the stock portion is much more expensive to issue than it once was. Given the FCF generative nature of Salesforce’s business, they should be able to at least, partially mitigate these concerns.
Since Salesforce is so reliant on acquisitions to fuel growth, investors should pay attention to how the tightening financial conditions wind up affecting the M&A market. P/E firms are still active in the market, but would-be sellers are nervous. The jury is still out on this one.
Microsoft shareholders best watch out, there’s a “new” kid on the block. He’s scrappy, he’s smart, and he moves fast. And his name is Salesforce. Salesforce doesn’t play by your traditional growth by acquisition playbook, it follows its own rules.
Step 1. Acquire. Step 2. Bundle. 3. Forego profit now, in exchange for more profit later.
The macro-economic environment is a legitimate concern but Salesforce, at least to this investor, looks like a company with a secular growth story that is still very much intact, it looks like a company that will continue to grow despite the headwinds.
On the valuation front, the discounted cash flow analysis points to Salesforce being a company that is approximately fairly valued. But a large part of that is due to the conservatism that I have baked into my DCF, should Salesforce execute on their flywheel, 17% growth may be much too slow, and margins may grow much faster than anticipated.
In short, the “bundle” factor is immune to rising rates.
I rate Salesforce as a “Buy” with a 1-year price target of $165.
As always, thank you for taking the time out of your day to read my article, all feedback and comments are welcome. I try to engage with all of my readers so if something sparked your interest feel free to let me know in the comment section and I will do my best to get back to each of you with a response. Have a fantastic rest of your day/evening!
While Salesforce has many different products with pricing structures that often require a quote from the company, we’ve compiled the basic pricing for their sales CRM only.
It should be noted that the pricing is the same no matter how large your business is, but Salesforce markets a small business plan for each of its three main products of Sales, Service and Pardot. The prices are listed by Salesforce as being the exact same as they are listed for larger businesses. Their small business offering is more of a summary of what they recommend for businesses with smaller teams and less-needed accounts.
As you can see in the table above, as you scale up your pricing plan you’ll be able to get access to more rich features meant for larger or scaling businesses. The Essentials plan should be great for most small businesses with fewer than five sales team members, unless you are looking for something with accurate sales forecasting.
As you grow your business, you’ll be able to take advantage of the more advanced features like workflow automation. All businesses will have sales team members with a lot to juggle who can benefit from this. But more importantly, the larger your team is, the more automation you’ll need to make sure all processes are the same and tie back into your analytics correctly.
Your team will get access to the Salesforce mobile app no matter what plan you choose, which allows you to input data on any lead right from your phone. You’ll also be able to check any information you need as you’re on the go attempting to sell in person. It’s a great time-saver to help your sales team take their customer relationships to the next level.
If you’re looking for advanced developer tools, such as a sandbox or the ability to add custom applications, then you’ll want to check with your dev team for their specific needs. Some of these tools are unlocked with the Professional plan but most do not become available until you pay for Enterprise.
Finally, no matter what plan you choose, you can use Salesforce with any major email provider as you’ll be able to integrate your Gmail or Outlook service directly into the platform. This is a huge time-saver as you’re communicating either via cold reach out or via a back-and-forth with your leads.
As tens of thousands of Salesforce partners, developers, and customers descend on its Dreamforce conference in San Francisco this year, the software giant is finding itself increasingly intertwined with another unexpected data giant: Snowflake.
Increasingly, analysis of the data generated via Salesforce is not happening on Salesforce. It's instead getting piped into Snowflake or other providers, where the work — such as building machine learning models or analyzing customer demographics and behaviors — actually happens alongside other data sources like those from Twilio's Segment. And Salesforce is addressing that uncomfortable reality with several big strategic moves.
"Set simply, the pattern we see customers doing, they need to bring in data from a lot of different sources — Salesforce included — and they need to do work," Salesforce EVP and GM of platform products Patrick Stokes told Insider in a recent interview. "They need to build an AI model or rationalize the data in some meaningful way so they can derive some insight. Historically, Salesforce has not always been the place to do that."
First, it launched a new tool called Genie in Tuesday at its first conference since the pandemic brought in-person mega-events to a screeching halt. Genie enables customers to orchestrate a variety of tasks and update their products instantly. That can come in the form of recommendations, fraud detection, or others. Genie, too, integrates directly with Tableau, providing a way to create real-time visualizations without having to build them on top of data in Snowflake.
It also said in early September it was partnering with Snowflake, making it natively compatible and integrating it without users needing to copy data. And Salesforce on Tuesday said it is launching a direct integration with Amazon's machine learning tool SageMaker to support custom machine learning models.
At its Tableau keynote, Salesforce emphasized the company's Einstein integrations with Snowflake, with the presentation working with Snowflake data. And at a separate meeting with reporters and analysts Tuesday, co-CEO Marc Benioff took a moment to lean over and remind his co-CEO Bret Taylor to talk about its data lakehouse architecture—and how it plays nice with Snowflake.
"Snowflake has been a close partner for a while, we're going to try to be compatible for all," Taylor told Insider. "The principle of Genie is, these data lakes are huge, and customers don't want to copy data back and forth. We're trying to do zero copy architecture with partners so you can have better governance and lineage, and the chief compliance officer can wrangle that data lineage."
In short, Snowflake was everywhere. And with these moves, Salesforce is ensuring the analysis and usage of Salesforce data and its results can remain inside Salesforce's sphere of influence.
Salesforce has for the majority of its twenty-plus years of operating enjoyed both carving out and owning a large share of online enterprise tooling. Now, as dozens of startups remake the analytics ecosystem and companies collect more and more data, Salesforce has to adjust.
Salesforce now also joins several companies, including Databricks and Snowflake, as it looks to inch the world closer to a future where products and AI models update instantaneously. Investing in those instant updates can lead to outsized returns, such as a smarter product recommendation that can help close a sale.
"It really starts to show Salesforce isn't looking at products, they're not looking at individual clouds, they're saying 'how do we be that business operations platform that has to deal with engagement or personalization,'" said Liz Miller, vice president and principal analyst at Constellation. "Snowflake isn't going away—it's not that you suddenly have this sigh of relief and you're like, 'we dont need Snowflake.' This is more about accessibility and being able to allow your teams to have that real-time access you need."
Snowflake declined to comment on this story.
Salesforce operates what it calls a customer data platform, based on a "data lakehouse" architecture built on the Apache Iceberg software. It enables organizations to connect other data lake tools and operate Salesforce data. Snowflake recently backed Apache Iceberg as its file format for its data lake tools, which themselves compete with Databricks' Delta Lake.
But in multiple conversations, industry insiders have been increasingly concerned about whether Salesforce users will simply do all their data analysis through platforms like Snowflake, with Salesforce's tools insufficient for the scale of data operations today. Instead, Salesforce data is part of a conglomerate of sources that land in a data warehouse like Snowflake through popular data analytics tools like Fivetran and Dbt. That data can then go into other sources like Google Cloud's Looker, or various machine learning tools.
From there, analysts and data scientists use other tools to do their work, and pipe the results back into Salesforce. The emergence of tools in the "reverse ETL (extract-transform-load)" space like Hightouch and Census have further trivialized this process and built substantial businesses.
While it isn't necessarily bad for Salesforce that customers are using data from the platform in other places, it also opens up entry points for other companies to disrupt Salesforce's other products — such as Tableau, the visualization tool it bought for $15.7 billion in 2019. Tableau is up against stiff competition, including from Looker.
Salesforce, however, has no intention of building its own data warehouse, Stokes said.
"We're not skipping the data warehouse, we're embracing it," Stokes said. "We're using that capability and integrating it with the Salesforce platform."
The explosion in machine learning tools that power products ranging from ecommerce to financial services has increased the demand for tools that power real-time data pipelines. But streaming for a long time felt like it was "coming next year" until 2022 turned out to be that "next year."
"I think a big part of what we were seeing is some really scrappy cloud-native businesses start to achieve some degree of real-time within their customer experience," Stokes said. "As some of those companies started to achieve certain parts of the experience in real-time, that changes consumer expectations everywhere."
As a result, Snowflake, Databricks, Confluent, and many other companies are chasing a world where all data is processed and updated in real time. That's in lieu of existing processes where companies update their tools with large batches of data, sometimes once or twice a day. Increasingly, the AI industry is moving to a "micro-batch" approach, with real-time updates as the natural next step.
"Streaming introduces a different velocity of data, and the way to make decisions that take advantage of that unique new frontier of data velocity is one that is not conducive to humans making these decisions," said Mike Del Balso, co-founder of $900 million real-time machine learning startup Tecton. "You can't have a human there making these decisions every time."
While Salesforce said it is largely targeting broad adoption with low-code tools that require a minimum of programming expertise, it will increasingly build connectors that will enable companies to deploy their own machine learning models may be built with outside tools like Hugging Face.
In the past few years, Salesforce has been one of the fastest-growing business software in the world. Businesses are dependent on their current and future clients. Therefore, having a strong customer relationship management or CRM tool is something every business should have. Even though every business has its own set of requirements, maintaining connections with customers has always been the same. The Salesforce platform fulfills every bit of business requirements offering the exclusive features of CRM systems. The customer customization functionality of the salesforce CRM makes it accessible for any size of business belonging to various industries starting from manufacturing to education.
Along with various pre-installed features of Salesforce CRM the access to integrate 3rd party tools helps many business processes efficiently and decreases operational costs. The Salesforce CRM also facilitates services ranging from brand identity building to data report generation and analysis. Salesforce CRM offers visual representation of effectiveness of popular marketing campaigns,Customer issues management and resolution status, and many more through visual dashboards, and comprehensive reporting features. As these features are beneficial in almost every industry, various businesses belonging to the banking system, financial services, corporations and insurance sectors, retail, fitness and healthcare, ed tech, and government sectors and many more are reaching out to Salesforce development companies in India to get affordable and feature rich salesforce solutions.
As India is becoming a homeground of various Salesforce consulting companies, finding the ideal partner will never be as simple as having a cup of tea. Before finalizing the most suitable salesforce consulting firm, there are various things businesses should consider such as the company's prestige, the employee strength, years of experience, their service offering and many more. As it takes a long time to study everything, we have done it for you. The team of TopSoftwareCompanies.co has assembled a list of the top 10 Salesforce Consultants in India 2023 after doing comprehensive research and analysis. To compile this list of trustworthy firms, the team did an extensive analysis in Ahmedabad, Mumbai, Bangalore, Jaipur, and other major cities in India.
The List of Top 10 Popular Salesforce Consulting Companies in India 2023
1. Hyperlink InfoSystem
Hyperlink InfoSystem established its business in 2011 as a mobile app development company that provides top services such as AI, IoT, Big Data, AR/VR, Metaverse, Salesforce, and blockchain. With 10+ years of experience in the industry, the company has worked with more than 2,700 plus clients for their custom tech needs. Hyperlink InfoSystem is listed as the top Salesforce partner in India. They implement the best Salesforce development services, including planning, designing, & implementing Salesforce solutions.
By unlocking the potential of data across Salesforce clouds, IBM allows Salesforce Einstein and IBM Watson to change your operations. This activity is carried out throughout the whole Salesforce platform and customer life cycle, including sales, marketing, customer service, and commerce.
Accenture is one of Salesforce's most important international partners. They are a trustworthy leader when it comes to creating, cultivating, and growing transformational skills via the use of Salesforce technologies. Accenture has finished 1529 Salesforce projects. They stimulate innovation to better how our lives operate.
4. Marlabs LLC
Marlabs LLCcreates cutting-edge digital solutions that assist our clients to enhance their business outcomes quickly and precisely. They achieve our goals by using the power of the Digital CollectiveTM, which combines design-led digital innovation with human experience, composable digital platforms, and a collaborative network of world-class technology partners and innovators.
5. Deloitte Digital
Deloitte Digital has extensive Salesforce service experience across multiple market verticals. So, Salesforce and its 6,500 consultants in 35 countries have a track record of collaboration and integration, aiding varied organizations in meeting their business objectives.
6. Grazitti Interactive
Grazitti Interactive is a global strategic partner that helps businesses develop their CRM strategy, laying the road for long-term success. It is trusted for its wide experience, innovative ideas and products, and exceptional customer service. Salesforce's technology and skills, when combined, can change your sales, marketing, and commerce cloud strategy.
Cyntexa provided Salesforce consulting services to a leading social enterprise. They examined the system's history, performed interviews, and suggested CRM courses and certifications with links for progress. They have 250+ certified Salesforce certified that have worked on over 400+ projects with 350+ pleased clients all across the world.
Webkul is a renowned IT services provider that was formed in 2010. With our industry-leading services for Digital Commerce, ERP, and CRM solutions, we assist businesses all over the world address challenging business issues. Over the last 11 years, the company serviced over 80,000 clients worldwide, ranging from small and medium-sized businesses to huge corporations, enterprises, and government agencies.
9. Damco Solutions
Damco Solutions is a prominent IT Services and Solutions provider with over two decades of professional expertise in offering the excellent customer value and enormous business benefits to its clients globally. They provide end-to-end, innovative, and cutting-edge business and technical solutions to assist corporations in leveraging technologies, transforming their businesses, and achieving long-term growth.
10. HData Systems
HData Systems delivers all today's trending innovative solutions, including Blockchain, Big Data Analytics, Data Science, Salesforce Development, Artificial Intelligence, and many more. HData Systems delivers eye-catching solutions to businesses, starting from startups to enterprises, to achieve their goals efficiently with better decision-making strategies to boost their ROI.
Source:Top Salesforce Consulting Companies in India
Bret Taylor, co-chief executive officer of Salesforce.com Inc., right, and Marc Benioff, co-chief executive officer of Salesforce.com Inc., wear rabbit ears during a keynote at the 2022 Dreamforce conference in San Francisco, California, on Tuesday, Sept. 20, 2022.
Marlena Sloss | Bloomberg | Getty Images
Salesforce stock rose almost 3% in extended trading on Wednesday after the enterprise software maker announced a new long-range profitability goal that showed the company's determination to operate more efficiently.
Several cloud software companies, including Salesforce, have become less compelling to investors as interest rates have risen to respond to higher prices this year, after becoming more glamorous during the Covid pandemic, when organizations boosted their use of programs employees could use without being in offices.
Management teams at cloud companies have sought to recapture interest by emphasizing cost-savings plans and pull forward their timelines for profitability. Salesforce itself said it would be more careful in adding talent.
The company went further on Thursday, as Amy Weaver, Salesforce's finance chief, revealed new targets for the 2026 fiscal year at the company's investor day, taking place in San Francisco during its Dreamforce conference. The company is aiming for a 25% adjusted operating margin, including future acquisitions, she said. That compares with the 20% target Salesforce announced one year ago for its 2023 fiscal year. The adjusted operating margin was 19.9% in the quarter that ended July 31.
Salesforce indicated that it intends to push adjusted sales and marketing spending as a percentage of revenue below 35% by 2026 through increasing self-serve efforts, alliances with partners, and productivity improvements for salespeople. In marketing, the idea is to draw on proprietary marketing channels. Sales and marketing on a GAAP basis took up over 44% as a percentage of revenue in the July quarter.
Additionally, Salesforce is keen to manage general and administrative spending, in part by evaluating real estate assets for a hybrid workplace.
Weaver reiterated the $50 billion revenue target for fiscal 2026 that it announced one year ago, but she said that the figure now takes into account a $2 billion headwind from exchange rates since last year's investor day.
Shares of Salesforce reached a 52-week low on Wednesday. The company has begun buying back its own shares as part of its first share-repurchase program, Weaver said.
The Microsoft Dynamics 365 product suite contains a comprehensive set of tools built to perform practically every aspect of business management. Based on Microsoft Azure, a cloud-computing ecosystem―although an on-premise solution is also available, if preferred―Dynamics 365 features 11 core “modules,” which cover everything from sales, customer service, automation and marketing to talent management, finance and operation, retail and AI. What sets Microsoft Dynamics 365 apart from the competition is the full integration with Microsoft’s extensive list of software including the classics we all know and love, like OneDrive, Excel and Outlook.
Microsoft Dynamics 365 offers three main sales plans and two main customer service plans designed to cover a wide variety of business needs. On top of that, Microsoft Dynamics 365 has a whole host of add-ons for businesses with specific needs. Most of Microsoft Dynamics 365 plans are discounted to $20 per user, per month, if the user already has one Dynamics 365 product.
The Microsoft Dynamics 365 product tiers start with the Sales Professional at $65 per user, per month, billed annually. The Professional plan offers an extensive suite of sales executing services, full reporting and analysis with exports to Excel and some amount of customization.
The Sales Enterprise, at $95 per user, per month, adds knowledge management and gamification as well as a limited amount of contextual insights and AI.
The Sales Premium plan, at $135 per user, per month, offers the full package when it comes to sales acceleration, fully customizable solutions and more in-depth contextual insights and conversational intelligence.
For the customer service side of your business, Microsoft Dynamics 365 offers a Professional plan at $50 per user, per month, which includes an unlimited number of named users, extensive case and knowledge management and includes service for mobile.
The Customer Service Enterprise plan, at $95 per user/per month adds more advanced capabilities like a unified service desk, embedded AI intelligence which gives context-driven suggestions and analytical reports.
All the Microsoft Dynamics 365 sales and customer service products are fully integrated with all Microsoft products, such as Outlook, Excel, OneNote and more:
If you ask 100 different investors if a stock is under- or overvalued and why, you're likely to get 100 different answers. If everyone knew a stock was undervalued, they would purchase it, which would drive the price up, and then it wouldn't be undervalued anymore.
However, going through the exercise to determine if a stock is undervalued is vital, as your research could yield significant returns. Today, I will dig into Salesforce (CRM 3.49%).
You can get a clue as to what Salesforce does by looking at its ticker: CRM. CRM is a common acronym that stands for customer relationship management, basically how a business interacts with current and prospective clients. The primary way to grow a business is by obtaining new customers and getting existing ones to spend more, so this software is vital for nearly every business.
CRM platforms have many capabilities, like marketing, customer service, and sales. By combining these operations into one software bundle, businesses can be more efficient in dealing with customers.
The CRM market opportunity is enormous, with the market expected to reach $158 billion by 2030, growing at a 13.3% annual rate from 2022 on.
That's an impressive market, but what's Salesforce's position in it? According to Statista, Salesforce controlled about 23.8% of the market in 2021, dwarfing second-place SAP's 5.4% market share. Furthermore, Salesforce's market share is growing, showing it is still the top pick for many businesses.
Salesforce's market leadership position in a growing industry checks many investment boxes. But how about its financials?
Despite a tricky second-quarter environment, Salesforce did well. Many businesses were not interested in purchasing new enterprise software. It's a cumbersome task, expensive, and has a steep learning curve. None of these activities are wise to do when the economy is struggling. If a business adopts new software, it's likely mission-critical and must provide significant value to the business.
In Salesforce's Q2 (ending July 31), revenue rose 22% YOY (year over year) to $7.72 billion. However, it lowered its fiscal-year 2023 (ending Jan. 31, 2023) revenue guidance from $31.75 billion to $30.95 billion. Nevertheless, this guidance still indicates 16.8% YOY growth -- not too bad for the current environment.
Remaining performance obligations (RPO) only rose 15% YOY. This trend is disappointing, as RPO is an indicator of future revenue. Still, this can be interpreted two ways. First, the difficult environment caused companies to pull back their spending, and this lost revenue will eventually return. Second, Salesforce has penetrated its market entirely, and its only growth will come from market expansion (projected to be 13.3% growth through 2030, as mentioned above).
When a growth stock's business begins to slow, investors demand profits. Profits have been slim in Salesforce's life as a public company, but management is projecting a 3.6% GAAP operating margin for FY23 (its current fiscal year). Much of Salesforce's losses come from heavy stock-based compensation -- in Q2, it was $851 million, or 16% of all operating expenses.
However, stock compensation is a noncash expense, which allows Salesforce to be free cash flow positive. In Q2, Salesforce produced $131 million in free cash flow, adding to its $13.5 billion cash and marketable securities position. With its cash pile, Salesforce plans to repurchase $10 billion in stock.
At face value, this may indicate that management believes its stock is undervalued. However, the primary reason for this repurchase plan is to offset shareholder dilution. Because of heavy stock-based compensation, Salesforce's share count has risen 38% over the past five years. This dilution makes each share less valuable, since each stock is worth a smaller stake in the company when new shares are issued.
If Salesforce were to drop all $10 billion on its shares right now, it would reduce its outstanding shares to a level last seen in 2021 before the acquisition of Slack was completed. That doesn't rewind the clock on share count much, but it would be a start.
As for a valuation, Salesforce trades at 5.7 times sales, which is low compared to other enterprise software companies like Adobe (11.3) and Autodesk (10), even though it used to trade in a range similar to its peers'.
However, Salesforce isn't close to the profitability levels of these two, which weighs into its valuation.
I'm on the fence about declaring Salesforce undervalued. While it operates in a massive and growing industry, its dominance has brought it to the point where it will likely grow at a similar rate to the overall market. As Salesforce flips the switch from growth at all costs to profitability, it may struggle with its high stock-based compensation bill.
I think this pessimism is reflected in its below-industry-average valuation. As a result, I think Salesforce shares are likely reasonably valued.
However, this doesn't mean you shouldn't buy the stock. As Warren Buffett once said, "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." Salesforce is a wonderful company; it just has a lot to prove before joining the ranks of highly profitable businesses.
Keithen Drury has positions in Adobe Inc. and Autodesk. The Motley Fool has positions in and recommends Adobe Inc., Autodesk, and Salesforce, Inc. The Motley Fool recommends SAP SE and recommends the following options: long January 2024 $420 calls on Adobe Inc. and short January 2024 $430 calls on Adobe Inc. The Motley Fool has a disclosure policy.
Salesforce.com (CRM) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this customer-management software developer have returned -6%, compared to the Zacks S&P 500 composite's -6.5% change. During this period, the Zacks Computer - Software industry, which Salesforce.com falls in, has lost 8.4%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Salesforce.com is expected to post earnings of $1.21 per share, indicating a change of -4.7% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
The consensus earnings estimate of $4.72 for the current fiscal year indicates a year-over-year change of -1.3%. This estimate has remained unchanged over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $5.56 indicates a change of +17.8% from what Salesforce.com is expected to report a year ago. Over the past month, the estimate has changed -0.5%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Salesforce.com is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth Forecast
While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Salesforce.com, the consensus sales estimate of $7.82 billion for the current quarter points to a year-over-year change of +14%. The $30.94 billion and $35.4 billion estimates for the current and next fiscal years indicate changes of +16.8% and +14.4%, respectively.
Last Reported Results and Surprise History
Salesforce.com reported revenues of $7.72 billion in the last reported quarter, representing a year-over-year change of +21.8%. EPS of $1.19 for the same period compares with $1.48 a year ago.
Compared to the Zacks Consensus Estimate of $7.69 billion, the reported revenues represent a surprise of +0.34%. The EPS surprise was +16.67%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Salesforce.com is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Salesforce.com. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
To read this article on Zacks.com click here.
Oxford University is steeped in traditions a world away from the modern, digital era. The world’s oldest English-speaking university was founded in 1096, just 30 years after the Battle of Hastings and more than a century before the Magna Carta was signed.
But at just 25 years old, the university’s business school isn’t wedded to centuries-old traditions, enabling Saïd Business School (SBS) to operate at a faster pace of change compared to its parent institution.
Andy Faulkner, Head of Product Development and Delivery at Saïd Business School, University of Oxford, explains:
The university is quite rightly heavily governed, reputationally quite risk averse, and tends to do things a little bit slower than perhaps we would like to.
Case in point: SBS has been able to develop and launch programs around sustainable finance, sustainable leadership, climate emergency for leaders and programs in response to climate crisis actions, all over the last five years, responding nimbly to current global trends.
The college is also able to move relatively quickly when delivering broader infrastructure or IT projects, and then bring the university in at a later, convenient time, notes Faulkner:
What's been very helpful is the business school has been in a position to pilot initiatives on several occasions, that the university has later benefited from.
One of these initiatives is SBS’s deployment of Salesforce. The initial program of works focused on improving efficiency in ways of working within the business school. But this is now spilling out into other areas of Oxford University such as admissions, where they are seeing the benefits of a unified data structure and how that could help lead to a more effective way of operating. Faulkner says:
Those conversations are definitely growing now. The piloting and agility that the business school has is often a precursor to the university moving.
While SBS is pioneering change and modern technology at the university, its first incarnation of Salesforce wasn’t a complete success. The school first started using the tech in 2016, and it was pretty much an out-of-the-box Sales Cloud instance.
At that time, everybody at SBS had a different way of working and consequently the project delivered a number of very different instances that weren't then particularly easy - if at all - to pull together into a business school-level view of activity. This led to the school deciding to redo the implementation four years later. Faulkner recalls:
“The big flip has been Salesforce Mk 1 was ‘department first, school second’; Salesforce Mk 2 was ‘school first, department second’. It was completely turning the design and development process on its head, which was a significant shift. We have to now think about how this works across the piece, come together, collaborate and build something that's going to work at the high level rather than facilitating a system that addresses current ways of working in independent departments.”
The reworking of Salesforce was prompted by the COVID-19 pandemic, and the arrival of Natasha Heaton, SBS Director of Service Delivery and Change. Heaton joined at the start of 2020, tasked with overseeing the development of the new building SBS will be opening in a few years.
When COVID-19 hit, the university paused all building projects and Heaton started looking at other programs that centered around change. There were three pillars SBS wanted to focus on: data covering both compliance and a unified data architecture; putting the customer at the heart of everything; and getting consistency around workflows and processes.
Faulkner happened to be the first person Heaton spoke to about the project, and he promptly informed her that the business school’s iteration of Salesforce just wasn’t working. Heaton says:
I worked with Andy to understand what his pain points were and realized that we'd actually built it originally around 20 departments, different ways of working, rather than setting it up correctly from the get-go. Our data was 25 years’ worth of data in different places, and we had 20 departments doing it 20 different ways.
Phase one of the second Salesforce project has been fixing those problems and addressing the three pillars. SBS is about to start on phase two, which is the growth area. Heaton adds:
Phase one, we had to get that unified data architecture. It was a huge amount of work, working out scripts, getting rid of fields that have grown up over the years. Now we're looking at capabilities and outcomes, which is a far more exciting place to be.
Despite having to start again from scratch, Heaton is quick to point out there was never any question that the technology was in any way at fault:
It was definitely the way we'd implemented it and tried to use it. We were just completely siloed and each department was very much thinking about their stakeholder requirements rather than the customer requirements. As soon as we flipped it and looked at that customer-first way of working, it was really easy to see what we needed to do.
Under the original rollout, governance around Salesforce development was pretty non-existent: individual departments would make requests, those requests would be fulfilled, and the notion of a single, coherent system got further away. One of the big shifts with the latest version is around change requests, which are now carefully considered regarding how they impact the wider structure. Faulkner says:
It’s asking questions around does this need to be done more broadly, what's the genuine user story here, what are you trying to achieve rather than ‘I want to add x field into this object’. The governance around it now is much more robust and allows us to maintain that one school ideology.
SBS approached the work as a change program as opposed to a technology project - a change for the whole school, in the way people work, in the way they deal with customers and their data – and ensured all staff were included from the start. The resulting solution was agreed across the whole school, by all the different teams and also all the senior leadership. However, the response has been mixed. Heaton explains:
There are some departments where they've got to the point where they couldn't work anymore with the way they were working, and they could see that this was going to be a huge benefit. There were other departments that were not using Salesforce and were using spreadsheets; wrestling those spreadsheets off them has been quite difficult.
To overcome this reluctance, SBS has run a lot of workshops looking at the end-to-end customer journey, and has focused on helping staff see common areas of the new way of working rather than the differences.
SBS is now using Salesforce Service Cloud with Education Data Architecture (EDA), a version aimed specifically at higher education institutions. This offers a wider range of objects covering the range of activities that take place at a university, and puts students and alumni at the center. It is also using Marketing Cloud and Experience Cloud for building out student communities and centralized points of engagement and information.
Benefits from an IT perspective include reducing the number of systems the school needs to maintain, and as it continues to add more capabilities to the Salesforce platform, it can dispense with further standalone pieces of software. SBS is looking at Admissions Connect next, and is also considering modules for coaching, room booking and event booking. Heaton adds:
The school hosts a huge number of events. That's something we want to bring into Salesforce so we can understand what people are attending and why, and make sure we are delivering the best for the customer.
Around the data compliance aspect, auto deletion of records has been hugely beneficial as SBS is no longer relying on large, annual processes to complete this task.
But most important is the customer view, which is vital in forging ongoing and close relations with the 2,000 new students who join the school each year, and its 50,000-odd alumni.
EDA helps SBS better understand how people learn through the school, whether via the online portfolio, its flagship MBA, or return learners, and tracks their different interactions and involvement whatever the department or channel. Heaton notes:
From the moment that they have a first touch point with us all the way through to alumni status, it’s being able to offer them what they need at each step of the way.
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