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Salesforce (CRM) & ADP Tie Up to Enhance Client Experience
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Salesforce (CRM - Free Report) and Automatic Data Processing (ADP - Free Report) have announced an ambitious collaboration to reshape the landscape of client experiences. Leveraging Salesforce's Customer 360 platform, ADP aims to revolutionize its service delivery for more than 1 million clients globally.
The expanded alliance between the companies signifies a strategic merging of ADP's extensive human capital management (HCM) expertise and Salesforce's AI prowess. This synergy seeks to empower ADP's service teams by unifying data insights and enabling lightning-fast responses to client queries.
Maria Black, ADP's president and CEO, emphasized the significance of this collaboration in meeting client demands swiftly and effectively. "This expanded partnership furthers our ability to quickly translate client data into actionable insights," she stated. ADP's two-decade-long collaboration with Salesforce has continuously propelled them toward the forefront of client experience delivery.
Marc Benioff, chair and CEO of Salesforce, echoed this sentiment, highlighting the transformative power of AI in reshaping customer experiences. He emphasized ADP's leadership in harnessing AI, the Data Cloud and collaboration tools to redefine the client experience.
ADP's proactive stance in embracing technological advancements isn't new; having previously partnered with Salesforce to digitize its global sales team, they are now embarking on a new journey to revamp human capital management experiences. This collaboration promises a tailored approach, integrating ADP's data-driven insights with Salesforce's cutting-edge technology to furnish personalized, actionable insights for each client.
AI-powered analytics can provide deeper insights into workforce trends, enabling ADP's clients to make more informed decisions about talent management, resource allocation and strategic planning. Integrating AI into HCM services can streamline and automate various HR processes such as payroll management, talent acquisition and employee benefits administration, thereby reducing manual efforts and errors.
Salesforce Banks on GenAI for Growth
Salesforce is currently focusing on incorporating generative AI tools across its products as it looks to keep its business ahead of rivals. The company forayed into the generative AI space with the launch of Einstein GPT in March 2023. Einstein GPT is the world’s first generative AI CRM technology, which delivers AI-created content across every sales, services, marketing, commerce and IT interaction at hyperscale. With Einstein GPT, the company will transform customer experience with generative AI.
Upping its ante in the space, CRM launched its AI Cloud service in June 2023, which is the company’s one-stop AI-powered solution for enterprises looking to enhance productivity. In March 2023, CRM raised its venture capital fund for generative AI to $500 million from $250 million. With this enhanced fund, Salesforce Ventures, the company’s global investment arm, will support the generative AI ecosystem and promote the development of responsible and trusted technology.
In September 2023, Salesforce announced that it entered into a definitive agreement to acquire Airkit.ai, a startup that develops AI-powered customer service applications. Founded in 2017, Airkit.ai is a low-code platform that helps e-commerce companies build AI-powered customer engagement applications that can be deployed across multiple channels, including web, mobile and messaging apps.
This Zacks Rank #3 (Hold) company has been benefiting from the resilient demand for its cloud and business software offerings in an uncertain macroeconomic environment as customers continue their major digital transformation. Moreover, its bottom-line results are benefiting from ongoing cost-restructuring initiatives, which include the trimming of the workforce and a reduction in office spaces.
In third-quarter fiscal 2024, its revenues and non-GAAP earnings per share soared 11% and 51%, respectively, on a year-over-year basis.
The Zacks Consensus Estimate for Intel’s fourth-quarter 2023 earnings has moved up 11 cents to 44 cents per share in the past 60 days. The consensus estimate for 2023 earnings has increased 55.7% to 95 cents in the past 60 days.
Intel's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 136.3%. Shares of INTC have risen 69.1% year to date (YTD).
The Zacks Consensus Estimate for Aspen's second-quarter fiscal 2024 earnings has moved north 14 cents to $1.49 per share in the past 60 days. The consensus estimate for fiscal 2024 earnings has increased 5 cents to $6.63 per share in the past 60 days.
Aspen's earnings missed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average negative surprise of 32.3%. Shares of AZPN have lost 1.5% YTD.
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Salesforce (CRM) & ADP Tie Up to Enhance Client Experience
Salesforce (CRM - Free Report) and Automatic Data Processing (ADP - Free Report) have announced an ambitious collaboration to reshape the landscape of client experiences. Leveraging Salesforce's Customer 360 platform, ADP aims to revolutionize its service delivery for more than 1 million clients globally.
The expanded alliance between the companies signifies a strategic merging of ADP's extensive human capital management (HCM) expertise and Salesforce's AI prowess. This synergy seeks to empower ADP's service teams by unifying data insights and enabling lightning-fast responses to client queries.
Maria Black, ADP's president and CEO, emphasized the significance of this collaboration in meeting client demands swiftly and effectively. "This expanded partnership furthers our ability to quickly translate client data into actionable insights," she stated. ADP's two-decade-long collaboration with Salesforce has continuously propelled them toward the forefront of client experience delivery.
Salesforce Inc. Price and Consensus
Salesforce Inc. price-consensus-chart | Salesforce Inc. Quote
Marc Benioff, chair and CEO of Salesforce, echoed this sentiment, highlighting the transformative power of AI in reshaping customer experiences. He emphasized ADP's leadership in harnessing AI, the Data Cloud and collaboration tools to redefine the client experience.
ADP's proactive stance in embracing technological advancements isn't new; having previously partnered with Salesforce to digitize its global sales team, they are now embarking on a new journey to revamp human capital management experiences. This collaboration promises a tailored approach, integrating ADP's data-driven insights with Salesforce's cutting-edge technology to furnish personalized, actionable insights for each client.
AI-powered analytics can provide deeper insights into workforce trends, enabling ADP's clients to make more informed decisions about talent management, resource allocation and strategic planning. Integrating AI into HCM services can streamline and automate various HR processes such as payroll management, talent acquisition and employee benefits administration, thereby reducing manual efforts and errors.
Salesforce Banks on GenAI for Growth
Salesforce is currently focusing on incorporating generative AI tools across its products as it looks to keep its business ahead of rivals. The company forayed into the generative AI space with the launch of Einstein GPT in March 2023. Einstein GPT is the world’s first generative AI CRM technology, which delivers AI-created content across every sales, services, marketing, commerce and IT interaction at hyperscale. With Einstein GPT, the company will transform customer experience with generative AI.
Upping its ante in the space, CRM launched its AI Cloud service in June 2023, which is the company’s one-stop AI-powered solution for enterprises looking to enhance productivity. In March 2023, CRM raised its venture capital fund for generative AI to $500 million from $250 million. With this enhanced fund, Salesforce Ventures, the company’s global investment arm, will support the generative AI ecosystem and promote the development of responsible and trusted technology.
In September 2023, Salesforce announced that it entered into a definitive agreement to acquire Airkit.ai, a startup that develops AI-powered customer service applications. Founded in 2017, Airkit.ai is a low-code platform that helps e-commerce companies build AI-powered customer engagement applications that can be deployed across multiple channels, including web, mobile and messaging apps.
This Zacks Rank #3 (Hold) company has been benefiting from the resilient demand for its cloud and business software offerings in an uncertain macroeconomic environment as customers continue their major digital transformation. Moreover, its bottom-line results are benefiting from ongoing cost-restructuring initiatives, which include the trimming of the workforce and a reduction in office spaces.
In third-quarter fiscal 2024, its revenues and non-GAAP earnings per share soared 11% and 51%, respectively, on a year-over-year basis.
Stocks to Consider
Some better-ranked stocks from the broader technology sector are Intel Corporation (INTC - Free Report) and Aspen Technology, Inc. (AZPN - Free Report) each carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Intel’s fourth-quarter 2023 earnings has moved up 11 cents to 44 cents per share in the past 60 days. The consensus estimate for 2023 earnings has increased 55.7% to 95 cents in the past 60 days.
Intel's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 136.3%. Shares of INTC have risen 69.1% year to date (YTD).
The Zacks Consensus Estimate for Aspen's second-quarter fiscal 2024 earnings has moved north 14 cents to $1.49 per share in the past 60 days. The consensus estimate for fiscal 2024 earnings has increased 5 cents to $6.63 per share in the past 60 days.
Aspen's earnings missed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average negative surprise of 32.3%. Shares of AZPN have lost 1.5% YTD.