Salesforce announced today that their acquisition of Vlocity for $1.33bn has closed with David Schmaier being named as the CEO of Salesforce Industries.
Salesforce Industries is a new division and will be used to create new market opportunities for Salesforce and its core service and product offerings.
Vlocity has built multiple CRM tools for different industries from media and entertainment through to healthcare on the Salesforce platform.
Bret Taylor, president and COO wrote a blog post announcing the new division where he said: “Companies in every industry have a digital transformation imperative like never before — and many are accelerating their plans for a digital-first, work-from-anywhere environment. With Salesforce Customer 360 and Vlocity, our customers have the most advanced industries platform as well as tools and expert guidance completely tailored to their specific needs,”.
Schmaier mentioned that due to the company’s tooling already being built on top of Salesforce allows the new division to hit the ground running without any challenges with the integration of platforms that combining organisations usually have to go through after similar acquisitions.
COVID-19 has made companies adapt their businesses to a digital model quicker than they might have liked and as a result has shown the opportunities for new and existing businesses to add value to increasing business and consumer needs.
Only recently Autonomous Mobile Robot provider OTTO Motors raised $29m in response to growing demands from consumers and the lack of manual labour due to social distancing measures introduced.
Taylor wrote in the blog post that industries focus are on digital transformation and moving operations online with the initiatives of Salesforce Industries being to help bring these industry-specific solutions to the customer.
Schmaier said: “We basically have a platform now inside Salesforce to build verticals. So the cost to build new verticals is a fraction of what it was for us to build the first one because of this industry cloud platform. So we are going to look at opportunities to build new ones but we’re not ready to announce that today. For starters, we are forming this one organization,”.
The company recently recorded a record quarter and with businesses increasingly looking for digital transformation tools due to the COVID-19 pandemic, there are several different verticals Salesforce Industries could go down to meet their mission and keep adding value to businesses.
