Salesforce maintains competitive advantage by continuous innovation and creativity
Innovation through research and development of the company's technological capabilities and intangible resources may not bring immediate revenue and profit to businesses. However, in the long term, the ability to innovate and create can form invisible competitive advantages that competitors can hardly catch up with, typically Salesforce's infinite creative ability.
In 2018, Salesforce continued to record double-digit growth in revenue, from $ 8.3 billion in 2017 to nearly $ 10.5 billion. Salesforce is again listed as one if Forbes' most innovative companies.
Salesforce is no longer a strange name for users. It is a cloud computing company, specializing in providing software in the form of registration of access (or subscription) to more than 150,000 businesses worldwide. Salesforce specializes in providing customer community, partner community, utility community platforms and spaces to exchange applications among enterprises. Salesforce also provides products and services for companies in health, finance, science, automation, communications, retail and manufacturing industries.
The company's main products include cloud packages like Sales Cloud, Service Cloud and Markering Cloud. In addition, Salesforce also provides community cloud packages and analytics cloud packages. Through these service packages, customers can manage their sales and business activities more flexibly and effectively.
So, how could Salesforce make it to the list of the most innovative companies worldwide? The key is Salesforce's ability to focus on artificial intelligence (AI) to foster the company's creativity. Accordingly, Salesforce always uses the company's annual seminar Dreamforce as an event to offer business support products. In particular, in 2016, Salesforce launched Einstein Salesforce service, a platform of artificial intelligence.
According to Salesforce, Einstein is the world's first complete and integrated artificial intelligence platform for customer relationship management. This platform is built on many acquisitions that the company has done such as RelateIQ, MetaMind, Implisit Insights, PredictionIO, and Tempo.
Meanwhile, IBM and Microsoft are also trying to snatch market share in artificial intelligence technology. IBM has invested billions of dollars in machine learning and AI, through business partnerships and acquisitions, as well as developing the Watson platform. Microsoft acquired Genee to enhance the ability of virtual personal support service Cortana to access artificial intelligence.
According to Lynne Parker, Assistant Director of Artificial Intelligence at the White House Office of Science and Technology Policy, cognitive computing is often the complete structures of a smaller scale artificial intelligence system combined. This is considered an extremely complex system, playing a key role in the digital age.
Cognitive computing is one of six factors that promote innovation and creativity. It will shape the digital transformation process by expanding new revenue sources, creating new organizations operating on information platforms, and helping to change the way a work is done.
Building strength at the right time and integrating customer relationship solutions for partners have helped Salesforce boost business results.
From a traditional point of view, when the scale is larger, the company will face more difficulties in innovation and creation. However, Marc Benioff, co-founder and CEO of Salesforce.com has proved that this concept is totally wrong. For Salesforce, he has managed the company toward creating and operating a special business model with creative activity as the central theme.
By: Peter O'Neill