Salesforce Launches Public Sector Division and Digital Lending Solution in India

Salesforce Launches Public Sector Division and Digital Lending Solution in India

Salesforce, the global enterprise software giant, has announced the launch of its public sector division in India, along with a new digital lending solution tailored to meet the needs of the Indian market. This move underscores Salesforce’s strong commitment to the rapidly growing Indian market, which is seeing a swift adoption of digital technologies and artificial intelligence (AI).

The announcement comes in the wake of an IDC study, which forecasts that Salesforce and its ecosystem of customers and partners in India will create a net gain of 1.8 million new jobs and generate USD 88.6 billion in new revenues from 2022 to 2028. Arundhati Bhattacharya, CEO and Chairperson of Salesforce India, highlighted the immense growth potential, driven by rapid digital transformation across the country.

“India has talent and capability, and now we are seeing far quicker adoption,” Bhattacharya stated at a media briefing. She emphasized that India is an “outlier” in digital adoption, noting the urgency driven by the advent of generative AI. “Generative AI has made people feel that they now need to leapfrog very quickly because capabilities seen by digitizing business and using AI were not evident earlier,” she explained.

The new public sector division aims to empower government agencies and public sector organizations to enhance citizen experiences through Salesforce technology. Additionally, the digital lending solution is designed to offer banks and lenders a platform to digitally manage consumer lending, potentially reducing costs and inefficiencies associated with outdated systems.

Digital Lending for India will exclusively serve customers within the country,” Salesforce elaborated, detailing its Made-for-India product. This platform integrates banking and financial data with customer information from Salesforce, built on the Financial Services Cloud platform. This integration aims to provide a single view of customer information for loan application processing, leading to faster approvals.

Salesforce has significantly expanded its presence in India over the past few years, scaling up its sales and distribution efforts and establishing the country as a support hub for various functions like technology, products, and engineering. “We have grown multifold in the last four years. People-wise, we have grown about 4X what we were in the last four years and we continue to maintain that growth journey,” Bhattacharya shared.

The public sector has been a new focus area for Salesforce in India. Bhattacharya noted, “People now realize that cloud is a safe venture and there can be a lot of applications on cloud…Public sector companies have also become open to solutions we bring to the table.”

The digital lending cloud offering represents Salesforce’s first product developed specifically with Indian requirements in mind. “We are hoping that this is the first of many where India will be the focus as we innovate on our products, and subsequently, they will again be customized for global needs,” Bhattacharya said.

As Salesforce continues to innovate and expand its offerings in India, the company is poised to play a pivotal role in the country’s digital transformation, driving job creation and economic growth through cutting-edge technology and AI advancements.