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Salesforce is working on a product based on Blockchain Technology

San Francisco based CRM giant Salesforce has been one of the early tech adopters. They always look ahead to the next big things in mobile, social, digital, cloud, IoT and AI. In a recent interview with Business Insider’s Julie Bort, Salesforce’s co-founders Marc Benioff and Parker Harris told how their company is working on one of the revolutionary technologies “Blockchain” to build a product.

During their talk with Business Insider, Benioff told at the time of his participation in the World Economic Forum in Switzerland, he started thinking about blockchain & how it can help building Salesforce products. At the same time, there was a crypto conference going on & Benioff got an opportunity to chat with one of the attendees. After his interaction, he started visualizing a blockchain based Salesforce product.

Benioff said: “I had been thinking a lot about what is Salesforce’s strategy around blockchain, and what is Salesforce’s strategies around cryptocurrencies and how will we relate to all of these things. I am actually a big believer in the power of serendipity, and I said just by having that conversation, it started me down the road to thinking more seriously about Salesforce’s role in this developing technology. He added, the more I thought about it, the more I believed that Salesforce could make use of Blockchain. Then suddenly something clicked for me and I saw a way to put blockchain and cryptocurrencies to work in Salesforce. That’s kind of how it works and I hope by Dreamforce we will have a blockchain and cryptocurrency solution.”

Benioff is a visionary person & the small conversation with that attendee in that event in Switzerland on blockchain made him identify an opportunity to expand Salesforce in the blockchain direction. Benioff said there are many ideas in his mind and he can execute most of them, but what’s important is to understand what is important for Salesforce customers.

Blockchain has transformed the financial sector and it created a more productive ecosystem where customers got a chance to participate in the value they create. Previously blockchain was limited to an electronic ledger used to track cryptocurrencies, but with time it has a more general business role. As an immutable record, it can track anything of value. Dreamforce is Salesforce’s annual customer conference, which will be held this year in San Francisco from September 25-28 and we can expect the big announcement of a blockchain product this year.

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Salesforce’s MuleSoft Acquisition: How the deal went down

Last month when Salesforce announced its acquisition of MuleSoft, many business leaders told this is one of the finest strategic acquisitions for Salesforce. Still, when we see the amount that Salesforce spent to acquire MuleSoft, it is bit surprising. No doubt, MuleSoft is one of the top company, but a $6.5 billion came out of nowhere. It looks hard to justify the purchase price of nearly 22 times trailing sales (sales, not earnings). According to the timeline published by Salesforce, they originally offered $38 per MuleSoft share, half in cash and half in stock. But, later MuleSoft CEO Greg Schott said to his Salesforce’s counterpart Marc Benioff that the price tag was $45 per share. On March 19 the deal was finalized, and they made it public on March 20th.

There was no bidding war for MuleSoft, as speculated by many analysts. As per the regulatory documents no other company was making move to buy MuleSoft. Salesforce is planning to pay a 30% premium for Mulesoft, compared with its average valuation in the weeks prior the agreement was announced. This was Salesforce’s biggest acquisition in a long time.

Salesforce was looking for a way where they can make better use of their customer data. MuleSoft has been doing well in their niche by selling software to gather data across a variety of databases. Even Salesforce participated in MuleSoft’s fundraising rounds in 2013 & 2017. But in past, both the companies never talked about a potential deal until February 2, when John Somorjai, Salesforce’s Executive Vice Chairman, emailed MuleSoft’s Schott to discuss a potential business partnership. The talks went for few weeks and finally, Salesforce made an offer on 5th March. Sensing the opportunity MuleSoft tried to negotiate the offered price and finally got what they want, except all the amount in cash. In the final terms, Salesforce agreed to pay $45 per share, 80% in cash and 20% in stock. This amount was a 32% premium over the MuleSoft’s public market value at that time.

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The 5 Trends of IT to Watch

Where is IT heading in future? 

Some of the experts point to five trending aspects that will impact IT industry within the recent years. Both business and the workplace this year will be affected. Together, the trends point to a further acceleration of the entire digital transformation and the widening gulf between traditional and the digital innovation.

The Expansion of IoT – Internet of Things

The IoT is mainly the concept of connecting almost every device with the Internet. These things can be as small, as phone or even a coffee maker, while it can also be as large, as an autonomous vehicle. This concept is indeed applied to the home, the workplace, transportation networks, hence, blurring the lines between the digital and physical lines. It also has a huge impact on all aspects of life.

The basic definition for IoT is that it will redefine our relationship with objects and the relationships of all the internet-connected objects to each other.

The Connected Digital Mesh

The digital mesh is said to be comprised of people, some smart machines, the internet-connected devices, content and the services. The expanding and all the interoperable set of endpoints people can utilize to access applications and information, or even interact with other individuals, self-selected communities and businesses.

The Challenge of Security

There have been many expansions in digital technology, like the IoT and the Digital Mesh will require some multi-layered security that can indeed adapt via the behavioural analytics. As these technologies extend to every workplace, the need for adaptive security will become universal.

It has been seen that all types of risk, from regulatory compliance to natural disasters will be developed and adopted.

The Promise and Possibilities of AI

There are some well-funded startups that continue to pursue AI: the intelligent systems that can learn independently, adapt and as well extend to every technology-enabled service, object or application. Still, there is some dispute about how “intelligent” AI is at the current juncture because it has been performing based on preset instructions.

The Adoption of various IT Techniques in Start-Up

Development techniques that are very common in the tech start-up environments will indeed increasingly be adopted to the reinvent established IT workplaces because they actually deliver competitive advantages.

Open source software, the Agile practices and as well as the DevOps have long been used in start-ups in order to bring faster time to market, lower development cost, acute collaboration opportunities, and much more faster adoption by users.

These agile practices rely on incremental, iterative work cadences as one of the alternatives to traditional project management and sequential development, hence, increasing productivity.

Blockchain
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Blockchain – Imperative for Business

The Blockchain Ebook equips you with an understanding of what blockchain stands for,  the working process, and as well as how it can enhance your business along with the industry in which it operates. You will be able to learn the fundamentals of blockchain and how this technology can revolutionize transactions as well as the business networks. You can discover the important difference between Blockchain and Block- Chain for Business.  This will guide you through an ideal solution for streamlining business networks.

Blockchain Fundamentals

Blockchain is a shared, well-distributed ledger that is said to facilitate the process of recording transactions and as well as tracking assets in a business network. This asset can be tangible — a house, a car, land — or even intangible like some intellectual property, such as patents, branding, or copyrights. Virtually it is said that almost anything of value can be tracked and traded over the blockchain network, reducing risk and also the cutting costs for all involved Read more…