San Francisco, July 25: In a bid to make inroads into China, US-based Cloud computing firm Salesforce has joined hands with Alibaba. A leader in customer relationship management (CRM) solutions, Salesforce will now be able to reach customers in mainland China, Hong Kong, Macau and Taiwan. Alibaba will become the exclusive provider of Salesforce to customers and Salesforce will become the exclusive enterprise CRM product suite sold by Alibaba.

Salesforce's CRM platform includes Sales Cloud, Service Cloud, Commerce Cloud, and Salesforce Platform. "More and more of our multinational customers are asking us to support them wherever they do business around the world. That's why Salesforce announced a strategic partnership with Alibaba," Salesforce said in a statement. Jack Ma, Co-founder of Alibaba Endorses 12-Hour, 6 Days Working Policy, Gets Slammed For Slave Culture.

"Alibaba's advanced, secure infrastructure and knowledge of these markets will empower our global customers with a solution that meets local business needs," it added.

According to Synergy Research that monitors Cloud market share, the enterprise SaaS market generated well over $23 billion of revenue for software vendors in Q1 and will hit a $100 billion annual run rate in the current quarter.

Microsoft reported $10.1 billion in Productivity and Business Processes revenue with a global market share of 17 per cent. Salesforce was second with $3.74 billion in revenue and garnering 12 per cent market share.

(The above story first appeared on LatestLY on Jul 25, 2019 03:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).