Global CRM giant Salesforce’s India arm saw its revenue surpass the INR 6,000 Cr mark in FY23 helped by the increasing adoption of cloud-based solutions.
As per the company’s regulatory filings, Salesforce India’s standalone revenue surged 52% to INR 6,699.3 Cr in FY23 from INR 4,403.2 Cr in FY22.
Arundhati Bhattacharya, CEO and chairperson of Salesforce India, told Hindu businessline that though India, with a considerable IT talent, didn’t embrace digitisation at the same pace as other countries in the past, companies in the country are now realising the necessity to adopt advanced technologies like AI and ML due to increased data requirements.
This trend is driving an increasing demand for Salesforce’s offerings, she said.
It is important to mention here that earlier this month Salesforce launched new AI and data innovations in Sales Cloud, including embedded AI assistant copilot for sales, enabling a faster and more efficient sales process for sales representatives and operations teams.
Bhattacharya told the publication that Salesforce is betting big on generative AI with the recent launch of its new offerings.
It must be noted that the adoption of generative AI is on the rise in the world, including in India, post the success of ChatGPT.
As per Inc42’s analysis, the country’s GenAI market is expected to grow exponentially in the next few years surpassing $17 Bn by 2030 from $1.1 Bn in 2023, growing at a CAGR of 48%.
In a latest development, Adobe has reportedly acquired Bengaluru-based AI-powered video creation platform Rephrase.ai, making its first acquisition in a generative AI startup.
Bhattacharya also said that Salesforce’s growth in the country is fuelled by the rising need to adopt cloud-based solutions, especially public clouds, which are also less capital-intensive.
“We are probably one of the late entrants to India and to that extent there is still considerable white space in the region. We expect to see broad-based growth in the region, as interest across the board is peaking,” Bhattacharya was quoted as saying.
Meanwhile, Salesforce is also looking to increase its office presence in Bengaluru and hire talents across technology and product, sales, business support and customer success roles.
The company currently has 10,000 employees in India, across Bengaluru, Hyderabad, Mumbai, Gurugram, Pune and Jaipur.
Salesforce India’s profit stood at INR 635.4 Cr in FY23.
The post Salesforce India’s FY23 Revenue Crosses INR 6,000 Cr Mark; Co Strengthening AI Playbook appeared first on Inc42 Media.