On the 7th of August 2019, Salesforce announced that it has signed a definitive agreement to acquire ClickSoftware for approximately $1.35 billion. ClickSoftware is cloud-based field service management & work management software & is already a key component of Salesforce’s Field Service Lightning offering for the businesspeople using the mobile devices. The announcement for the new acquisition by Salesforce has come only a few days after the much talked about $15.7 billion Tableau acquisition deal by Salesforce.
Acquiring ClickSoftware can scale up the field service offerings by Salesforce, which currently is under the over-arching umbrella of Service Cloud. Salesforce in its revenue reporting in June had unveiled that back then its Service Cloud had surpassed the revenue threshold of $1 billion for the very first time. This acquisition is aimed at maintaining & optimizing the exponential increase in the Service Cloud.
According to Bill Patterson, Employee Value Proposition (EVP) & General Manager (GM) of Salesforce Service Cloud the acquisition of ClickSoftware will not only accelerate the growth of service cloud but will also equip them to further innovate & improve the Field Service Lightning, to better meet the expectations of the customers.
He also added at a time when more than 70 percent of the customer service leaders are making significant investments to transform the mobile workforce, delivering exceptional field service is an important priority for the companies functional in the landscape of service cloud.
Mark Cattini, CEO of ClickSoftware expressed his glee on joining Salesforce & stated that joining hands with Salesforce will help their company work more rigorously to achieve their mission of delivering exemplary field service management services to their clients.
He also asserted that as a part of Salesforce, the company will be able to innovate faster, which in turn, will optimize the experiences of their joint customers.
ClickSoftware enables its clients to precisely schedule & optimize their field service tasks. Salesforce Field Service Lightning, which has been built on Service Cloud, empowers the mobile workforces & leverages IoT technologies to empower companies to interconnect their entire service workforces, by providing a centralized platform. With the combined expertise of Filed Service Lightning & ClickSoftware, Salesforce is well-positioned to be a leader among the field service providing companies. Interestingly, ClickSoftware is an older platform as compared to Salesforce. Founded in the year 1997, the company went live in 2000, & remained listed until went private again in the year 2015. In 2015, a private equity company called Francisco Partners had bought the company for $438 million.
The deal between Salesforce & ClickSoftware is expected to close in a fall as merely the regulatory formalities remain to be completed.
Modern customers need to be provided with highly tailored pieces of content as an essential pre-requisite to optimize their experiences. The companies use omnichannel marketing & the data from diverse platforms needs to be assimilated & analyzed, to live up to the ever-evolving customers’ expectations & provide them with the unique solutions resonating with their pain-points. The deal will provide Salesforce an immense number of opportunities to advance & optimize the on-site customers’ experiences (CXO).
Back in the year 2016, Salesforce introduced Filed Service Lightning, which was meant to equip the mobile workforce with a 360-degree view of the customer.
The platform provided predictive insights & could for an offline-first mobile app. Field Service Lightning for the first time brought ClickSoftware & Salesforce together to deliver preemptive & intelligent field service.
In an era of evolving customer research, the acquisition of ClickSoftware will allow Salesforce to establish strategic synchronicities to better live up to the expectations of existing as well as new customers, & the prospects. Providing a unified field service solution, technological unity & innovation, Salesforce & ClickSoftware will together be able to optimize users’ experiences (by deriving & interpreting data from diverse channels for data-driven decision making). This, in turn, will help the customers in achieving their universal bottom-line goals such as revenue optimization & the optimization of users’ experiences.
The purchase price will be constituted of a mix of cash as well as Salesforce common stock & also probably will include outstanding equity awards, which will be awarded to the ClickSoftware employees. It is also speculated that the acquisition will close during Salesforce’s fiscal quarter, which will end on the 31st of October, 2019. The acquisition process will be subject to customary closing conditions, including the termination of the waiting period under the Hart-Scott-Rodino Improvements Act & as per the Israeli antitrust clearance.
ClickSoftware is a global leader amongst the companies providing field service management solutions. The company believes in delivering value through improved efficiency, efficacy & the optimized users’ experiences (UX). The company leverages exemplary state-of-art computer science & mixes it with its phenomenal industry expertise to optimize critical business processes & to simultaneously delight the customers. Delivering meaningful & measurable business value, the Click Field Service Edge is an armory that allows field service leaders to use intelligent technologies & best practices from around the globe. The platform can be used for real-time recommendations & real operational intelligence & also to derive predictive insights after monitoring the data from diverse channels over a while.
Salesforce.com Inc. is an American cloud-based software solution provider company with its headquarters in San Francisco, California. They brand themselves as a holistic platform for customer success & have a wide variety of social & cloud-based technologies including their flagship sales & CRM applications. Salesforce serves as a uniform platform facilitating interconnectedness & effective communication between companies, customers, partners & employees. Customer data from Salesforce can be integrated with third-party tools & can be analyzed for deriving meaningful insights driving fast & intelligent business decisions.