advantages of deep systems integration and bundled contracting and pricing will begin to re-dominate. And then, a new wave of cloud-native mega-vendors is going to emerge. One of these companies, clearly, is Salesforce. I believe that Rippling is another. EmployeeForce One way to understand Rippling is to contrast it with Salesforce. Rippling is Salesforce, but starting from employee data instead of customer data. What do I mean by that? In the same way that Salesforce is not merely a system for building pipeline reports, Rippling is not merely a payroll and HR system. In reality, Salesforce is a system for managing business processes and work昀氀ow, which happens to be built on an underlying foundation of customer data. Salesforce has a series of core platform capabilities that query the underlying customer data in its system—reports and dashboards, a work昀氀ow builder, con昀椀gurable policies and permissions, an object query language in SOQL, custom 昀椀elds and objects, alerts, and approvals. These can then be strung together and tuned by a client to manage their bespoke business process relating to customers, support, sales, and marketing. Salesforce is useful to companies both because of this con昀椀gurable Platform toolset—companies need reports and they need work昀氀ow tools—but also because these tools have a built-in understanding of the company’s customers.
Investor Memo 2024 Page 7 Page 9