Salesforce has signed a definitive agreement to acquire the Point-of-Sale (POS) software vendor ‘PredictSpring’.
Describing itself as the retail POS market’s “leading omnichannel commerce platform”, PredictSpring brings its unified omnichannel retail platform to the CRM giant Salesforce.
Salesforce believes that this will integrate well with its Customer 360 capabilities and increase exposure to its technology through physical shops.
Jeff Amann, EVP of Salesforce Industries, details some of the synergies that this partnership will create: “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.
Why PredictSpring?
There are a number of ‘resources’ and ‘innovations’ that Amann could be referring to within PredictSpring’s technology portfolio that makes it an attractive addition to the Salesforce team.
As a modern POS software retailer, PredictSpring provides a fast checkout service that is designed around the customer. It claims that retailers must incorporate intelligent and user-friendly technology to ‘revolutionize’ in-store operational efficiency.
On its website, PredictSpring explains how its unified retail platform can ensure that shopping experiences can use the same features as online ones, such as the same payment options, access to inventories throughout a company, customer data management technologies, and personalized recommendations.
As part of this leveling up between in-store and online technology, it enables organizations to adopt a ‘360 view’ of customer profiles, multi-tender payment management, streamlined customer experiences, and more – which resonates with Salesforce’s work within the CRM industry.
The retail software vendor also offers ‘Cloud POS’ solutions that allow staff to carry out transactions from anywhere within the shop using a mobile device.
PredictSpring’s retail technology also includes ‘Store Operations’, ‘Clienteling’, ‘Endless Aisle’, and ‘Store Fulfilment’ to assist workers and enhance the overall experience for shoppers.
With its Content Management System (CMS), PredictSpring gives retailers the ability to create customizable experiences to match company branding, in-store promotions, and loyalty schemes.
Salesforce pointed out that PredictSpring was already a Salesforce partner and had previously implemented Commerce Cloud and Service Cloud.
PredictSpring’s customers include Movado, LoveSac, Steve Madden, Suitsupply, Bouclair, and Deceim.
Nitin Mangtani, Founder & CEO of PredictSpring, was positive about its future roadmap working alongside Salesforce: “We are excited about the future of PredictSpring and about what this means for the retail industry at large.
“PredictSpring has taken great pride in powering omnichannel experiences for many of the world’s leading brands and retailers, and we’re energised by the opportunity to make an even greater impact on the future of shopping as part of Salesforce.”
Subject to the usual conditions, the acquisition is likely to close in Salesforce’s third quarter of FY 2025.
Salesforce has also said that this acquisition does not affect the current financial guidance, which it provided in May, and it will not be sharing any more financial information at this time.
In 2021, Salesforce acquired the productivity platform Slack for $27.7BN, which was also integrated into its Customer 360 suite.
