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Salesforce to Acquire PredictSpring

Salesforce to Acquire PredictSpring

Salesforce to Acquire PredictSpring, Enhancing Omnichannel Capabilities Last month, Salesforce finalized an agreement to acquire PredictSpring, a leading provider of point-of-sale (POS) software. PredictSpring, known for its omnichannel commerce solutions, offers a suite of mobile POS systems along with clienteling, inventory management, and order management tools tailored for the retail sector. Insights from Industry Analysts In a recent episode of CX Today’s BIG News Update, key analysts shared their perspectives on the acquisition, highlighting three major points. Filling a Critical Gap Rebecca Wetteman, CEO & Principal Analyst at Valoir, noted that while Salesforce has effectively assisted many B2B clients, such as Fiserv and Peloton, in transitioning to B2C strategies, one crucial component was missing: order management. PredictSpring’s solutions address this gap, enhancing Salesforce’s data strategy and providing a more comprehensive customer view. Wetteman stated, “This addition is a significant move for Salesforce, strengthening their position beyond B2B and bridging the B2B to B2C divide.” Advancing Omnichannel Retail Simon Harrison, Founder & CEO at Actionary, emphasized that the acquisition represents a major step forward in delivering effective omnichannel solutions. PredictSpring’s technology promises to solve challenges associated with integrating in-store and digital experiences, enhancing overall customer interactions. Harrison praised the investment, stating, “This is a smart move, addressing real-world issues and increasing value for both staff and customers in today’s dynamic retail environment.” Expanding Market Reach Martin Schnieder, VP and Principal Analyst at Constellation Research, pointed out that acquiring PredictSpring aligns with Salesforce’s strategy to expand its total addressable market (TAM). He highlighted retail as a sector with unique challenges and opportunities, where Salesforce’s Data Cloud and platform can create impactful vertical-specific solutions. Schnieder noted, “Retail offers a different model with constrained margins, and Salesforce can leverage its platform to provide substantial value.” Michael Fauscette, Founder, CEO, and Chief Analyst at Arion Research, observed that Salesforce is strategically acquiring startups to fill gaps in its vertical offerings. He remarked, “Salesforce’s approach involves identifying startups that address specific needs and integrating them into their ecosystem. This strategy has proven effective and allows Salesforce to go to market directly with these partners, a practice not always seen among enterprise vendors.” Conclusion Salesforce’s acquisition of PredictSpring is a strategic move to enhance its omnichannel capabilities and address key gaps in its offerings. By integrating PredictSpring’s advanced POS solutions, Salesforce aims to strengthen its position in the retail sector and continue its growth trajectory in both B2B and B2C markets. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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Unified Omnichannel Retail Platform

Unified Omnichannel Retail Platform

Salesforce has signed a definitive agreement to acquire PredictSpring, a leading unified omnichannel retail platform in the retail POS market. This acquisition aims to enhance Salesforce’s Customer 360 capabilities by integrating PredictSpring’s technology into physical retail environments. Jeff Amann, EVP of Salesforce Industries, emphasized the potential synergies: “Consumers demand a retail experience that seamlessly blends physical and digital shopping. The combined talent, resources, and innovation of Salesforce and PredictSpring will empower brands and retailers to drive frictionless and personalized engagement across all touchpoints.” PredictSpring’s modern POS software offers a fast checkout service centered around customer experience. It advocates for intelligent and user-friendly technology to revolutionize in-store operational efficiency. On its website, PredictSpring details how its unified retail platform enables consistent shopping experiences by incorporating features such as diverse payment options, inventory access, customer data management, and personalized recommendations. This alignment supports Salesforce’s 360-degree customer view, multi-tender payment management, and streamlined customer experiences. PredictSpring also provides Cloud POS solutions, enabling mobile transactions within stores, and includes features like Store Operations, Clienteling, Endless Aisle, and Store Fulfilment to enhance worker efficiency and shopper experience. Its Content Management System (CMS) allows retailers to create customizable experiences matching company branding, promotions, and loyalty programs. Already a Salesforce partner, PredictSpring has integrated Commerce Cloud and Service Cloud. Its customers include Movado, LoveSac, Steve Madden, Suitsupply, Bouclair, and Deceim. Nitin Mangtani, Founder & CEO of PredictSpring, expressed enthusiasm for the partnership: “We are excited about the future of PredictSpring and what this means for the retail industry at large. We’re energized by the opportunity to make an even greater impact on the future of shopping as part of Salesforce.” Why PredictSpring mPOS? Retailers have become acutely aware of the detrimental impact that outdated legacy point of sale systems are having on their brand’s reputation and overall customer satisfaction. The consequence is evident in prolonged queues and an unsatisfactory shopping experience. However, the remedy to this challenge presents itself in the form of a modern solution: the mobile point of sale (mPOS). Forward-looking brands are embracing the concept of prioritizing mobile-first POS systems as the natural progression, and the integration process is surprisingly straightforward – a seamless extension to existing point of sale infrastructure. Facilitate cash payments with a mobile point of sale, streamlining the payment experience. With the Modern POS, store devices are wirelessly connected to a cash drawer so payment can be taken from anywhere in-store, leading to a higher engagement and conversion rate with customers. According to research released by Capterra, “48% of retail workers prefer using mPOS”. PredictSpring True Omnichannel Replace the need for separate technology stacks with a completely unified retail platform. PredictSpring ensures in-store experiences benefit from the same functionality as online ones. This includes the same payment options, company-wide inventory access, customer data management and personalized product recommendations. With these capabilities, stores are empowered by a truly Modern POS that provides seamless cross-channel personalization, inventory management, order management and order fulfilment. Encompassing the power of a full Modern POS, the system offers brands 50+ 00TB modules of integrated technology, including mPOS, clienteling, order fulfilment, order management and inventory management features. The Modern POS platform provides store associates with a 360 view of customers and access to a global inventory, resulting in a fully integrated brand experience at every touchpoint. This way, when a customer visits in-store they can interact with the physical products and receive a high-touch service while also still benefiting from the same access to inventory, reviews and recommendations as an online customer. APIs and Integrations PredictSpring is built for integrations. With the REST API, developers can access and seamlessly integrate PredictSpring functionalities into existing operations as well as other third-party applications. The platform’s API layer allows data to be shared securely across channels while minimizing risk. With this added flexibility comes the ability to create individually personalized and completely seamless experiences both online and in-store. Leverage easy integrations to offer more payment options for global customer bases. PredictSpring supports integrations with third-party payment providers such as Adyen, Elavon and Stripe to simplify the collection of global payments. PredictSpring fully supports omni channel order management. Ensure orders arrive on time while incurring the lowest costs with item-level smart order routing and rules-based configurations. Leverage inventory, location and fulfilment data to ensure order routing is optimized for orders on all channels – whether in-store or eCommerce. Leverage enterprise-wide inventory data and integrate with third-party logistics platforms to maintain a full, real-time picture of inventory. As well as cycle counts and easy inventory adjustments, the platform supports integration with RFID to ensure accurate inventory data. As well as offering BOPIS and curbside pickup solutions, the PredictSpring platform natively supports find in store and ship to store capabilities to maximize fulfilment options. Pick and pack allows fulfilment from any location with orders also able to be routed from store to store. PredictSpring allows the device’s own camera to be used as a barcode scanner, with no additional hardware required, to ensure easy order tracking functions for associates. Salesforce Commerce Cloud With a secure integration with Salesforce Commerce Cloud, PredictSpring offers even more flexibility. Users can choose to utilize features as a combined offering or independently to suit requirements. With this partnership, PredictSpring customers can benefit from the deployment of key Salesforce features including, customer data insights, order management, cart synchronization, product information management and more. AI-Based Voice Assistant Natural Language Based Voice Assistant for Modern POS Retail in the digital era is a story of constantly rising customer expectations. These days, customers demand seamless omnichannel experiences, so they can shop whenever and wherever they want. They expect personalized in-person shopping experiences, instant gratification, and fast, reliable delivery options. The only way to continue to meet these expectations at scale without breaking the bank is to harness the capabilities of AI—which is where the PredictSpring Modern POS comes in. As Modern POS systems have evolved into a complete operating system for stores with functionality ranging from checkout, returns, store fulfillment, clienteling,

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Salesforce to Acquire PredictSpring

Salesforce to Acquire PredictSpring

Salesforce to Acquire PredictSpring, Enhancing Customer 360 Capabilities in Retail Salesforce has announced a definitive agreement to acquire cloud-based point-of-sale (PoS) software vendor PredictSpring, aiming to bolster its Customer 360 capabilities and strengthen its foothold in the retail industry. PredictSpring, headquartered in California, provides PoS systems that enable store associates to engage with shoppers and complete transactions from anywhere in the store using mobile devices. The software also supports store operations, including fulfillment, client profile management, and online ordering for items not immediately available. “The combined talent, resources, and innovation of Salesforce and PredictSpring will empower brands and retailers to drive frictionless and personalized engagement across all touchpoints,” said Jeff Amann, executive vice president of Salesforce Industries. PredictSpring, already a Salesforce ecosystem partner integrated with Commerce Cloud and Service Cloud, has been collaborating with Salesforce since 2019 when new tools were added to Commerce Cloud. Founded in 2013 by Nitin Mangtani, a former product manager at Google, PredictSpring has received investments from Salesforce Ventures, Felicis Ventures, Novel TMT Ventures, and Beanstalk Ventures. The company raised $16 million in a Series B funding round and $11.4 million in a Series A round. While Salesforce did not disclose the transaction value, it will retain the entire PredictSpring team, consisting of approximately 31 employees. The acquisition is expected to close in the third quarter of Salesforce’s fiscal year 2025, which runs from February to January. Earlier this year, Salesforce attempted to acquire enterprise data management software provider Informatica, but the talks fell through. Notable past acquisitions by Salesforce include Slack, MuleSoft, Tableau, and Troops.ai. Like Related Posts Salesforce OEM AppExchange Expanding its reach beyond CRM, Salesforce.com has launched a new service called AppExchange OEM Edition, aimed at non-CRM service providers. Read more The Salesforce Story In Marc Benioff’s own words How did salesforce.com grow from a start up in a rented apartment into the world’s Read more Salesforce Jigsaw Salesforce.com, a prominent figure in cloud computing, has finalized a deal to acquire Jigsaw, a wiki-style business contact database, for Read more Health Cloud Brings Healthcare Transformation Following swiftly after last week’s successful launch of Financial Services Cloud, Salesforce has announced the second installment in its series Read more

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