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Salesforce has a 20-year history of innovation. In fact, the multi-billion dollar tech giant was ranked the world’s No. 3 most innovative company by Forbes in 2018. Its Customer Relationship Management (CRM) system is among the most popular Salesforce Products.
The primary goal of the Salesforce CRM is to give every department within a company a single, shared view of each customer. Going into its third decade of existence, Salesforce’s offerings have branched out into many specialized categories. Each time new Salesforce products or services are released, businesses gain access to an even more drilled-down level of functionality that helps them remain intentional about meeting business goals.
Now that 2020 is here, more expansion is on the horizon for Salesforce. Here are four things to take note of during the first quarter of the year.
1. Salesforce Spring ‘20 release features are now available
Customers across the globe can now access more than 300 innovations with the Salesforce Spring ‘20 release.
Among its latest brainchildren is the Sustainability Cloud, which gives companies tools to consciously manage greenhouse gas emissions. Businesses that use the product will gain a 360-degree view of their environmental impacts.
According to a Salesforce news release, global sustainable investing exceeded $30 trillion in 2018 (up 34% from 2016). This proves companies are beginning to care more about the eco-friendliness of their daily operations. Insights provided by the Sustainability Cloud are intended to help businesses make noticeable changes that protect the planet and fight global warming.
Additional key features of the release include:
- The Marketing Audience Studio is among the new Salesforce products and makes advertising more efficient. It gathers, unifies, and acts on all customer data to help businesses reach more people at the right time. It keeps track of all customer segments and reaches them across all devices at opportune times.
- Einstein Analytics for Customer Goods is a new reporting product used in conjunction with the Consumer Goods Cloud. The Consumer Goods Cloud is a tool for field reps in industries such as food and beverage, personal care, health, and beauty. It enables them to improve store visits, manage inventory, and more.
- myTrailhead for Customers and Partners is an online learning platform that enables businesses to train their team members and equip them for success. Rather than leaning on a corporate learning structure, it provides bite-sized tidbits that are easy to digest (and sometimes gamified).
- Failing to secure data can lead to loss of customer trust and legal consequences. The Salesforce Data Mask helps safeguard businesses by securing valuable information stored in Sandbox test environments.
2. Salesforce is getting closer to the general release of several Einstein Voice products
In a November 2019 news release, Salesforce announced various components of its Einstein Voice capabilities would be in beta starting in February 2020. That means the testing period is currently underway, making several pieces of Einstein Voice one step closer to release.
Salesforce reported that Einstein Voice Assistant, Einstein Voice Skills and Service Cloud Voice would all be in beta during this time, with Service Cloud Voice expected to be generally available as early as June. The other Salesforce products are slated for release in 2021. At the time of the news release, Einstein Call Coaching was already in its pilot stage and is expected to be available in June.
Here is a brief rundown of what each of these voice products offers.
- Service Cloud Voice integrates phone, digital channels, and CRM data to a centralized console in real-time. With it, employees can save time by routing calls from a single platform and leveraging automatic transcription functionality. Artificial intelligence is used to provide solutions and recommend the next-best actions for sales agents. Managers are also able to view all calls and digital correspondence in real-time, so they can easily intervene when assistance is needed (or provide training after the fact).
- Einstein Voice Assistant allows employees to build a custom voice-powered assistant. The application, which works on any device, allows users to log notes, update records, create tasks, and filter analytics using their voice.
- Expanding on Einstein Voice Assistant, Salesforce created Einstein Voice Skills so companies can build voice-powered apps that take the place of manual data entry or navigation in Salesforce.
- Einstein Call Coaching gives insights into team conversations, defines sales strategies based on conversational trends, and provides best practices for future interactions. This product saves the most successful calls to a conversation library that can be used for team training purposes.
3. Salesforce’s complete fiscal year 2020 financials will soon come to light
Salesforce announced that its fourth-quarter and full-year fiscal 2020 results conference call will take place Feb. 25 at 5 p.m. ET. During the call, Salesforce’s financial results will be discussed with the investment community, and a live webcast will be available on the Salesforce Investor Relations website at www.salesforce.com/investor.
United States residents who are interested in tuning into the call via phone can do so by calling 866-901-7332. International listeners can gain access by calling 706-902-1764 with the passcode 1984056. A replay of the call will be available by calling 800-585-8367 until midnight (ET) on March 26.
Salesforce products have earned a steady revenue increase year after year. The 2019 fiscal year closed at a record-breaking 13.48 billion, up 26% year-over-year.
4. Recurrex subscription management tool is now available in the Salesforce AppExchange
There are more than 3,400 apps available in the Salesforce AppExchange. Each one allows users to expand the CRM functionality of Salesforce products in accordance with their specific needs.
One of the most recent Salesforce apps to be released is a subscription management solution called Recurrex. Developed by Austin-based tech company PowerSync, the app solves many challenges faced by businesses that rely on recurring revenue.
Sales teams can not function without CRM data. Roadblocks also arise when customer information is outdated or inconsistent. These facts ring especially true for subscription businesses because meticulous record-keeping is essential for success.
Recurrex automates the many aspects of subscription workflows, saving companies thousands of valuable hours overtime. Watch the video tutorial above for an overview of what the extension can do.
Do you want to learn more about Recurrex? Fill out the form below to schedule a call with PowerSync.