Good afternoon, everyone. It's Brent Thill from the software team at Jefferies. We wanted to welcome you to a chance to have a quick fireside chat with Bret Taylor, President and COO at salesforce.com. A special thanks to Evan and the rest of the IR team at Salesforce for making this happen. They're also on the line and available to take your questions at the end of the call. We will do a quick chat, and then I can take your questions.
You can email them to me at bthill@jefferies.com, B-T-H-I-L-L @jefferies.com, or you can jump in on the live Q&A session. Bret is President and COO. He leads salesforce.com's global product vision, engineering, security, marketing, and communications. A very respected engineer with an executive and an impressive history of building widely used and loved products. He was most recently the Co-Founder and CEO of Quip.
The company was acquired by Salesforce in 2016. Prior to that, he served as the CTO of Facebook, selling the company through a successful IPO in 2012. He's credited with the invention of the Like button. Bret is also a member of Twitter's Board of Directors and a member of Stanford University. Graduated there in 2003. Bret, thanks again for joining today.
Apologize, we don't have a bearskin rug and a fireplace to talk through. Maybe if you could just kick off. Congrats on your recent promotion to President and COO. I think many would love to hear how your role is changing and how it has compared to when you initially joined.
Thank you. Thank you all for joining the call. It is funny to do all this virtually. My kids start shrieking in the background, I apologize in advance. This is the new normal WFH. It's been a real honor to take on the role of Chief Operating Officer. When I arrived at the company, through the acquisition of my startup, Quip, I really focused on operating that sort of as an operating unit within the company.
Two and a half years ago, I took over on products, focusing on product strategy, and with my most recent promotion one year ago, a much larger part of the company, and really focus on bringing together a product strategy, a go-to-market strategy, our marketing, and acquisition strategy to make sure that we're aligning ourselves for the next decade of growth.
I think this company is really defined by really redefining the markets that we're in. Joked that at the time that they invested originally, the total addressable market for CRM was less than our current revenue. I think it's because, as a company, we've really said, been willing to reassess what does it mean to transform people's customer experiences and enable them to have a digital relationship, and digitally transform their customer experience.
That's led to, I think, a pretty robust string of both organic product development and acquisitions, and we've really had to transform our go-to-market strategy in the process. I'm excited with the new role to play a bigger part in that, especially as at the scale we're at, it's a pretty privileged time to be at a great company like Salesforce.
I think we're all doing this call from home and obviously living in unprecedented times. The work from home, WFH, theme has emerged. How are you helping customers in this new environment? Many ask us how you kind of reshape part of your go-to-market or your product line to help companies in this environment. It'd be great to hear your perspective on that.
Yeah. It's a wonderful question. I kind of view this crisis, which is unprecedented. It's kind of having a few different stages. Right now we're in the middle of a crisis, and we want to help all of our stakeholders, our customers, our communities, our employees, just respond to that crisis. We've been trying to bring the full force of our company behind that.
Our software, which plays a big part in it, both for our government customers and private customers who are figuring out how do they engage with their employees and their customers digitally in an era of work from home, helping in our communities through our philanthropic efforts and our employee volunteering, which has been a big part of this company, and our 1-1-1 model since our inception.
I also think it's important in the time of crisis to help our customers and Salesforce look beyond it, and make sure that we're preparing ourselves and preparing our customers to get back to growth. Once this crisis subsides, which I hope with the amazing efforts of the global community, and I think the response we're seeing, I hope it can happen robustly and quickly, but honestly, we don't know.
With that, I do think that this has really created an imperative for businesses around the globe to invest in digital technologies. I look at our business, like our Commerce Cloud business. Our direct-to-consumer digital commerce is really the one part of the economy that's still running in this work from home era. Customers who have invested in digital service experiences, they can do service from home.
Similarly, a lot of our other platforms, we really see across the board, like we help our customers sell from home, service from home, market from home. Yeah, while that won't be completely the new normal, I think this event has really, I think, created a sense of an imperative for companies to have a robust digital strategy sort of in the face of really dramatic shifts to how companies engage with every one of their stakeholders and customers, and how the global supply chain depends on these technologies.
The companies that are digitally equipped right now are doing much better and much more agile than the ones who aren't. As I said, right now we're focused on just helping every one of our stakeholders deal with this response, and that we want to make sure that we're well-positioned to help every single one of our customers get back to growth and really invest in what has really, I think, become a digital imperative once we get back to rebuilding the global economy.
Just on that, is there one or two products that stand out where customers feel like they can get up and going quicker? Is this still just the big platform play? Everyone is saying, "Look, I just can be on this platform, and there's so many things I can take that there's not one thing." It's the platform that's still selling. Go back to yesterday's comment of NIKE saying they had some big store shutdowns, but the online digital market helped them by selling online. Anything you're seeing in terms of the Commerce Cloud or any other areas that you feel are standing out in this time?
It's a wonderful question, and I think when you look at the trends that you've seen in a lot of industries to build completely digital experiences, retail, consumer goods, the direct-to-consumer trend, a lot of those interactions are very durable right now because those digital interactions still work in the face of social distancing and sheltering in place and the world in which a lot of people are living right now.
I think that certainly stands out, and I heard those comments as well, and they resonated with that part of our platform. I also think that one of the other things that we've really focused on is focusing on just the communities that every one of our customers engage with, whether it's the community of your employees, the community of your partners, the community of your customers.
A lot of the success we've seen with customers engaging with communities for, if you just take a small business, asking, "Are you open? What are your delivery hours? When are you open? What are your plans?" That kind of community engagement technology, which is a big part of our core platform, is also something I think is vitally important.
What I think a lot of people are learning now is just a lot of the casual way information flowed around companies right now really needs to be embedded in these digital tools. We're really trying to be a trusted digital advisor for each one of our customers as they navigate that.
It's not just the digital marketing and digital commerce, which is a huge part of it, but also how each one of our customers, we create a community around every one of their stakeholders that is digital as well, so they kind of navigate these changes which are happening day by day in real time with every one of their stakeholders.
That's great. One of the big questions that everyone is asking is just around with Keith Block's departure, obviously a very influential player on your team, and he had a big presence in the field. If you could just talk through what you're seeing in the wake of his departure, and I think many are still a little concerned from this. Can you just give us a sense of what you guys are doing and what's happening and maybe why we perhaps shouldn't be as concerned from this departure?
Well, first, I just want to say Keith Block was a mentor and a deep friend of mine and had a huge influence on not only the company, as you all know, but also me personally. I think the thing that I think it's really a credit to Keith Block as a leader, just the bench that we have, particularly on the sales side.
With our announcements the last earnings, we announced Gavin Patterson will be running our international business, as CEO of our International business. We also announced that Brian Millham, who has been at the company for almost 20 years, is running our American sales business as well. We continue to have great leadership in Japan under Koide-san, an incredible leader.
I think that we obviously focus a lot on developing our executive bench, and I think I feel just great confidence in the leadership team that we have in place. We're really growing the business and really executing on the strategy that we've been forming over the past five years in particular, which is making sure, number one, we're a global business, and we are where our customers are, that we're speaking the language of our customers and delivering really the most vital industry-specific capabilities to each of our customers with the vertical and industry strategy I think Keith really brought to the company.
That we're deepening our relationship with all of our partners, and making sure that we're really bringing success to all of our customers, which is really defined not just by our software, but the partners that each one of our customers use to deploy it. I feel like we have a great bench and a great leadership team in place that are really executing on that strategy.
The other big announcement last quarter was the acquisition of Vlocity. It fit into what you had mentioned with Keith's passion for the verticals. What is this bringing to your portfolio that you didn't have?
First, I think David Schmaier is an incredible leader, been in the CRM business for a long time, and I'm personally really excited to work with him. I think he brings an incredible track record, not just from Vlocity, but his experience at Siebel, and the team there really understands really what it means to bring customer relationship management and these industry solutions in ways few other teams in the world do.
As I look at the product offerings, the capabilities around communications and media, insurance, they really complement our product suite perfectly. They've been, as I think you know, a partner and an ISV of Salesforce for a long time, so their solutions have been designed to really complement our capabilities.
It really means that our capabilities, which we've been building out in financial services, in healthcare, most recently in manufacturing and consumer goods, and now in media, communications, insurance and others, I think we'll end up with probably the most robust set of industry capabilities in the market. Really enables us to get almost every business, particularly enterprise business in the world, and come with a really complete set of industry capabilities.
Which is a really meaningful change to how we go to market, how our customers look at our platform, and enables them, candidly, to sort of start on third base, so to speak, when they're deploying Salesforce, because so many of the industry-specific workflows will be built and working right out of the box.
Last year, you did roughly $17 billion in acquisitions. Adding Vlocity brings you to $18.5 billion. Many investors say, "Bret, you're a product guy, take a break. Where's the organic innovation?" There's been a lot of kind of pushback of why you need to go at this pace. Can you just balance this between the acquisition side and could you just take a break and digest what you have, and show investors the type of growth on the top and bottom line on the margin side without having to do this magnitude of acquisitions?
First, I think as Marc said, pretty recently, we are intending to take a pause and make sure that we integrate Tableau successfully. I think Vlocity was a bit of a special case. We've had a longstanding relationship with them and had an opportunity that was time-based to really get this asset at an incredible price. I do think that we're really focused on making sure that we absorb this acquisition successfully, and just want to reiterate that.
To speak to the broader philosophical point that you brought up, we, I think as a company, have what I think Marc would call beginner's mind as it relates to innovation. We believe that a lot of innovation will come organically and developed by our product and engineering teams. When we see incredible innovation that could provide value to help build our Customer 360, which is our product strategy, and really complement it in a unique way, we're open to it.
I think when I look at the success and acquisition of, I'll say of MuleSoft, which brought deep integration capabilities to our Customer 360, I think that acquisition has done incredibly well, both from a financial standpoint, but, perhaps even more importantly, it's helped drive success for all of our customers, because it means that they can more successfully deploy their Customer 360 and integrate with all the legacy systems and deploy it faster. I think we're going to continue to have a beginner's mind as it relates to building, partnering, buying, and just making sure that we're doing it responsibly.
I think we have a good track record of integrating not only these technologies, but integrating the teams. I'm somewhat biased being product of one of those acquisitions, but a large portion of our leadership team that's thriving here, have come in through those acquisitions and I think really helped form the Salesforce as we know it today. Agree with you there responsibly, but also, I think we take great pride in our capability of successfully integrating these acquisitions on behalf of our customers.
Yeah. One of the things that stood out, I think you had presented this at Dreamforce, was around marketing and commerce and this concept of headless commerce where if you're selling a product, you want to be kind of wherever, but you have to fulfill and be a backend, and you guys can help fulfill a lot of that demand. Can you just expand upon what you're seeing?
We've obviously seen this when we went live on Instagram with Facebook, with shopping taking over and Zuckerberg spending a lot of time saying it's one of his biggest initiatives. How you benefit on the backend and for those that don't really, truly dove into this topic, what you're seeing around the Marketing Cloud and Commerce Cloud?
Yeah. It's a wonderful question. I think broadly, we're just seeing with digital technologies, commerce experiences and marketing experiences are really going where the consumers are, which means there's lots of really rich experiences being embedded in popular consumer applications, whether it's a Facebook, as you mentioned, or a Pinterest, or messaging applications.
When you are a CPG company, which is kind of the direct consumer, or you're a retailer, you want to really create integrated experiences where you can grow your brand and enable commerce and discovery of your brand to happen wherever those consumers are. That the technology term is headless, and it just means that behind that, you still have order management, you still have all the inventory, you still have all of your product listings, but it's not just powering a website anymore.
It's powering commerce that's really integrated into all these consumer experiences. I think, broadly, this really fits into our product strategy, which is we're not just a service product or a service platform. We're not a commerce product or a commerce platform. I think when we think about enterprise capabilities and building for the most sophisticated and demanding brands in the world.
It means that we need capabilities that can move at the pace of consumer expectations and move at the pace of technology trends, which means deep extensibility, deep platform capabilities. I think it really gives us and gives our customers a strategic advantage as they're sort of navigating this extremely rapidly changing sort of consumer landscape where these experiences are being embedded.
Yeah. I want to make sure we get to investors' questions. You can email me at bthill, B-T-H-I-L-L, @jefferies.com. I have a few questions already in the queue. There are definitely a lot of questions around the environment.
I know we're not here to update people on the environment, but maybe even for Evan and the IR team, just when you think about, there's a lot of questions around the mix of commercial and SMB, versus what you saw in the past, and I think you've seen commercial build and SMB at the beginning become a bigger percent, but that piece is now overshadowed by the enterprise business. I don't know if there's any thoughts you can talk about that mix and kind of what you're seeing among that client base today.
Yeah, we talked a little bit about this at Analyst Day, where we've seen that mix shift a little bit more towards enterprise, but we're really happy we sort of have a nice breadth across both segments, and we feel really good about how that has progressed, especially in this environment.
When you think about some of the SMBs who may have just started with Sales or kind of one solution, are you starting to see even the SMBs move to more of a platform approach? I guess if you fast-forward, if you're just taking Sales and you're a small SMB, and you have an issue that goes on versus you're running multiple aspects of your platform on your side, you would theoretically have a lower likelihood to churn off. Are you seeing more SMBs take the full suite versus just a one-off product solution set?
Yeah. The trend we're really seeing in truly super small business, sole proprietors, like under 20 employees, is really seeking out more integrated solutions. I'm not sure the flower shop would use the word platform in the same way an enterprise would, but we're really trying to meet that demand with a new product we call Essentials, Salesforce Essentials.
It's an integrated sales and service product with one product, which is, I believe, $25 per user per month. Really simple packaging for really the whole CRM. We've really tried to address that to, I think, bring the spirit of what you're talking about, which is a complete solution for small businesses. It's easier to use and easier to onboard. I think broadly, I do think that we really take pride in serving all segments of the market.
I do think there is a divergence in requirements and needs. If you look at really the ethos of Salesforce and where it started, it was an innovative business model with software as a service, innovative delivery model with cloud. Also, I think, Marc had a sort of a fun quote, which is, could we make CRM as easy to use as amazon.com? I think being inspired by ease of use is a really big part of why our customers are more successful with our technology than others. Our focus on SMB, I really think, holds us accountable to keeping that simplicity I think really defined our company from its inception.
There are a lot of questions around the demand environment. We're not going to go there. I guess the one thing is, kind of question that comes out is, in the last downturn, what did the company learn and the tips and tricks to help customers through what we're going through right now? Is there a message and a piece that kind of keeps you more insulated in this environment, and that you've learned from past downturns?
Look, I think, first, it's really too early to tell, like, the extent of the impact of this because we're right in the middle of it. We have to be thoughtful. I do think we're really fortunate that we have a really durable business model. 90% of our revenue is ratable. About 70% of our FY 2021 revenue guide is already booked. We have a really durable business model.
I think, we really want to make sure that we're focused on the long term, despite unprecedented disruption in the short term. I think that we want to make sure that we are focused on the success of our customers, helping them respond to this crisis, helping them get through it. Also, when it will end at some point, we can help our customer base get back to growth.
I think the privilege position we're in is a big part of that will be their Customer 360 to help digitize their customer experience and really take advantage of the growth that these consumer experiences are providing. We're really trying to think long term, while being responsible in the short term as we deal with a very unprecedented situation.
Yeah. That's great. A lot of questions just around more complex implementations in an environment where it's harder to get people on-site, how you actually are dealing with clients in this time with some of these more complex integrations.
Yeah. You're absolutely right. We're definitely in unusual times. I joked about my kids perhaps jumping in my office here as we're on this phone call, and the fact that I'm even saying that, I think just illustrates how unprecedented this is. Our sales teams are working remotely, and we're switching a lot of our customer events to virtual only. One of the ones that happened a few weeks ago is our World Tour event in Sydney we did entirely digitally, and got incredible engagement, but digital engagement.
Honestly, we don't know what impact this will have just because these are unprecedented times. I do think that we're going in it to evaluate it day by day and make sure to, again, lean into the agility that new technologies afford, meeting with customers digitally, and just changing the way we operate in the face of unprecedented times.
We feel very good about sort of our ability as a company to deal with adversity and deal with change, especially given our deep, obviously, as a technology company, deep investment in technology ourselves.
I think you obviously have a pretty big inside sales team, and many kind of ask about the go to market and how you continue to stay in front of new clients right now. I would assume that you're leveraging your technology, you're using an inside sales team. In terms of the go to market, how you approach the team in this environment, making sure they're staying engaged, you have these virtual summits. What other things have you kind of found useful to staying engaged at this point with clients?
I think the main thing we're trying to do is just to ask a lot of questions and make sure we're there for our customers who are dealing with a lot of business challenges they've never faced before. We start every conversation just asking, "How can we help?" I think especially in the short term, we just need to make sure we're there as a trusted advisor to all of our customers.
I think over the medium term, as we sort of settle into this sort of working from home environment through this current period of time, is making sure that we're there with the tools and technologies our customers need to continue to do business in this environment. That's sort of the stage we're taking. We're trying to be humble, trying to focus on our customer success, and trying to listen. Again, trying to sort of evaluate the system day by day, and just make sure we're there for all of our customers.
Yeah. There are a few questions just around the M&A strategy, and I know you said that you hope to take a break after a pretty big period, but I think many are kind of observing a lot of the asset prices have come off, and given some of these changes, does that change your philosophy or not about trying to take a break in the short term?
It doesn't change our philosophy, first of all. Our philosophy is as I stated, which is we're really focused on integrating our acquisitions, but I do think that our philosophy of having the M&A mind is enduring, and if there's an incredible opportunity, we would always look at it. We're never going to say no to look at an opportunity, and I do think that in this environment, opportunities may come up. It doesn't change our underlying philosophy, and I think that's important to say.
Great. Then, many are kind of thinking about just the Marketing Cloud and Commerce Cloud and just trying to understand how that's priced. Is that based on volume? How are you approaching customers with those discussions around the pricing?
You're asking about pricing of what? I'm sorry, I missed the first part.
Yeah. For marketing and commerce, how you work through the pricing strategies with clients in terms of kind of what you're basing your prices for your services on for them, but just more around that go to market and the pricing structure of that individual line.
Yeah. I think for our platform, we have a variety of different ways of pricing our products. For the majority of our commerce capabilities, it's really proportional to the gross merchandise volume that our customers are doing on the product, and that's really the basis of the value you get from it, and that's true of most of our Salesforce products. As we've talked about on a lot of calls, too, our relationships with customers are pretty nuanced. They're not all just about one technology. We've already a real Customer 360 solutions that really varies customer to customer.
One bigger question about the competitive landscape. Adobe talks a lot about the Customer 360 as well, and I think there's been a lot of confusion about kind of where they sit, where you sit. They've been pretty clear to investors they actually use your technology internally to run Adobe sales team. They actually use your product.
I think there's questions around some of the marketing digital experience solutions that they have, and how overlapping. It seems like a lot of companies use both, but I'd be curious to get your view, and I think many are trying to understand kind of where they're at and where your position.
That's a good question. Our product strategy is oriented around this concept of Customer 360, which is can we build an integrated experience around your B2B and B2C sales, your B2B and B2C service, customer service? Can we integrate your field service, your digital service, your call centers into one platform? Can we bring together your marketing capabilities, your commerce capabilities, analytics, integration, community?
It's all by vertical. Really our value proposition, as we talked about, is many customers start with one of those capabilities and expand to this Customer 360. Our most successful customers are really integrating all of these things. They have a digital marketing experience that's integrated with a commerce experience that's deeply integrated if you have a return or you have a customer service problem.
They're all integrated into one platform, because that's really what it means to build a seamless customer experience and connect with your customers in new ways. When I look across the portfolio, I would say every one of those clouds has unique, and oftentimes very great competitors. I would say what really sets us apart of, not just companies like Adobe, but sets us apart from the rest of the market, is really the completeness of that solution.
I just bring it up because when you talk to the CEO of a retail company, she doesn't want digital commerce product. She doesn't want digital marketing product. She wants to compete with Amazon. To do so is really about an integrated experience across the entire customer life cycle, from demand generation to a loyalty program for their customers.
That's really, I think, our enduring competitive advantage is this focus on Customer 360, and really the completeness of that solution. On the margins, we'll obviously compete with a number of different companies, but I think as it relates to our overall Customer 360 strategy, I think we really stand apart.
Yeah, there was another question just on how do you differentiate CDP from CRM in Customer 360? Are you consolidating to one database? How does this work? It may be too hard to explain on a conference call, but certainly I think there are a lot of questions around how this all works and how it all ties together.
I'll do my best, happy to take follow-up questions, not get into architecture diagrams. Look, when I think about CDPs, it stands for customer data platform. It's a big trend in marketing right now. I'll give you my commentary on it, which is, I think for a long time, marketing's been defined just by engagement.
The explosion in these channels from social media to texting to push notifications, really the explosion in engagement there. I think with CDPs, marketers, CMOs and B2C companies broadly are really saying, "I want a single source of truth for all of my consumer and customer data." To date, there really hasn't been a great solution for that. There hasn't really been a CRM capability for consumer companies, large scale companies.
I think that really uniquely positions us as a company to deliver that with our combined experience in both CRM in the B2B space and our, I think, unique scale on B2C technologies like our Marketing Cloud and our Commerce Cloud. That's why we're investing in that area. Our CDP is called Customer 360 Audiences, deeply integrated into all of our capabilities. I think broadly, some customers really want to put everything in one database.
Some people want to use technologies like MuleSoft to aggregate data from around the enterprise. I think every company approaches it in different ways, but I think the main thing that people want is a single source of truth, that Customer 360. That's why that strategy and that new, I think, hot investment in technology like CDP really plays into our strategy quite well.
A lot of questions about Tableau. Next steps for integration. I think there are a lot of questions, too, that you've had analytics. What wasn't working in the analytics solution that made this happen? I guess it seems like some of this could actually be very complementary what Tableau brings versus what you've originally built.
Yeah. This quarter is practically speaking, really our first quarter of integration due to regulatory approval obtained in November. We're sort of really busting ahead, focused on integrating our go-to-market capabilities like territory accounts, sales competition, just make sure we're getting alignment across all the teams so that every single one of our mutual customers can find out about our integrated value proposition.
Speaking to the broader question about where it sits and our other capabilities, the analogy I would draw is really MuleSoft. MuleSoft is a general purpose integration platform. It can integrate any product, any other product. Not just Salesforce. It can integrate SAP to Oracle, right? That's why it's such an amazing, robust platform.
By bringing into Salesforce, we were able to take that capability, bring it into our strategic C-level conversations and say, "Hey, if you want to build a Customer 360, this is a strategic capability you have to integrate all those legacy systems," which can really accelerate that digital transformation.
You've seen that acceleration in Tableau's business because it takes one technology sold to one buyer, brings it into a more strategic value proposition, and it really, one plus one equals a lot more than two in that case. Tableau is just an incredible product and incredible community around analytics. Much like MuleSoft, it's really technology independent, in a really, I think, differentiated way. It can analyze data in the cloud, it can analyze data on-premises, and it's really designed to be empowering.
As easy to use as a tool like Microsoft Excel, that really, all of us can be analysts, and it's not relegated to simply a team producing dashboards, but it's a really empowering concept. What I've heard from customers over the past few months, I've talked to a lot of teams, a lot of CEOs about this too, is in this age of digital transformation, of which our technologies play this huge part, we're just producing much more data than ever before.
Most of the CEOs I've talked to say, "I know I have more data than ever before, but I can't say with a straight face I'm getting insight from it." We really think that Tableau is an incredible asset for companies going through these transformations to say, how do you create a culture around data?
When you're building this Customer 360 and you have all this new data about your customers, how can you empower everyone in your company to actually derive insights from those data and make better decisions? We think that that's a really wonderful complementary value proposition. Like MuleSoft, I really hope that by bringing these things together into a value proposition where we're trying to help our customers transform their businesses, grow, it's really unique in that context.
I had one last question, then we'll go to a couple from the line. Again, if you want to email me, you can. One of the questions we've gotten is, I think obviously no one saw this coming in the overall environment, but many companies were kind of caught flat-footed and don't have an agile infrastructure in.
Many have said, when we all go back to an office building at some point that the move to cloud is only going to accelerate. It's been moving, but does this create a bigger tailwind that we maybe have never seen because companies just don't want to be caught in this position again, if this happens, and hopefully it never happens again, knock on wood. Just your thoughts in terms of how you think this catalyzes this move to cloud.
In the short term, we really don't know how it can impact customer spending just because we really don't know the scope of the short-term economic impact, and I just want to acknowledge that. Long term, though, I do think that the companies that are surviving right now are the ones that have robust digital strategies, who have what you described as agility, which I really agree, which is, do you have a customer experience that can exist in all these different media, so that when something like this happens, hopefully not globally again, but even in region, you have alternative ways to engage with your customers, grow your businesses. I think that as companies come out of this eventually, they'll be looking at what would have mitigated the business disruption that we're seeing right now.
The answer for most businesses will be an investment in these digital experiences to build Customer 360 that is not wedded to a single customer touch point, which is really flexible, durable, exists in multiple channels, especially digital channels. I believe that it's going to create that sense of imperative so that companies look to be prepared for the kind of business interruption we're all experiencing right now.
That's great. Tiffany, can you poll for any questions?
At this time, if you would like to ask a question, please press star followed by the number one on your telephone keypad. We will pause for just a moment to compile the queue and raise your hand. Again, that is star one on your telephone keypad to ask a question. There are no questions over the phone at this time.
Bret, we really appreciate the time. There have been a lot of questions on the email hotline, a lot of these around the overall environment, and I know we can't really address those, so that's the predominant list of questions. Thanks for sharing your perspective today and thanks to Evan and the rest of the team at Salesforce for hosting. We appreciate it and look forward to staying in touch.
Thank you for having me.
Thanks, everyone. Have a good day.
This concludes today's conference call. Thank you for your participation. You may now disconnect.