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Sprinklr CEO on becoming a major customer experience player like Salesforce, Adobe, and Microsoft

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Sprinklr Founder & CEO Ragy Thomas joins Yahoo Finance Live to discuss the newly public company and customer experience management for larger global companies.

Video Transcript

BRIAN SOZZI: As if companies don't have enough to deal with during the pandemic, social media remains a hotbed of activity companies must manage around the clock. One customer complaint could snowball on social media. And before you know it, a boycott the brand hashtag is, in fact, trending. Let's check in one company trying to mitigate these risks for very large companies. Ragy Thomas is the founder and CEO of Sprinklr. Roger, good to see you again. It's been some time. So we're almost in the new year. What are companies telling you is their biggest challenge they're dealing with at this point in the pandemic?

RAGY THOMAS: Brian, good to see you, too. Thank you for the opportunity. What we're hearing from customers consistently is, you know, especially with COVID, they're all going through their own digital transformation. And what are they transforming into? What we're seeing is they're transforming into customer centric companies. They are shifting away from being brand or product centric, and they're shifting to being customer centric and doing that using digital capabilities across channels. And that's what we are hearing from all of our customers and then the companies that we talk to.

BRIAN CHEUNG: Hey, Ragy, it's Brian Cheung here. Can you explain to us exactly how you do that, how you fit into the ecosystem here? Because it's kind of factored into the stock ticker as well, right, CXM, customer experience management. But what exactly does that involve when you interact with your clients and say, here's how we can help you do that and execute?

RAGY THOMAS: Great question. Brian, just look at our-- look, each one of our own behavior, we spend a lot of time on the Facebook and the Twitter and the WhatsApp and the WeChat and the Google message and the Apple iMessage and all of those a lot more than we used to, right? We're not watching TV as much. We're not writing emails as much on a personal context.

What we do is provide a unified platform for large companies to do all their customer facing functions, everything from customer care to marketing and advertising, across 36 modern digital channels. So that's all social channels, all messaging channels, and now we're going backwards and adding text and live chat. And we just added voice, and Honda Japan went live on Sprinklr with voice. So that's really the powerful idea here-- one unified platform to do everything from care to marketing across 36 channels. And that's a big-- that's, like, a big thing if you're a large company.

JULIE HYMAN: Ragy, it's Julie here. You guys just came out with these numbers that beat estimates. As we talked about, your forecast for revenue also ahead of estimates. I'm curious about the profitability side of the equation. You guys just came public, I believe in June, right? And so you're a newly public company. You're posting losses like many other newly public companies. But I'm just curious what the trajectory looks like to a goal of profitability.

RAGY THOMAS: Absolutely. Great question, Julie. We were cash flow positive last year and year before. We have proven over and over again that we have the ability to pull back and make the company profitable. And we've done that when we thought that was the right thing to do. The right thing to do right now for us is to invest in growth. We see this as a 20, 30-year run.

Julie, if you ask any CIO or CMO, CDO, or even a CEO of a large global company-- and we target about 100,000 companies around the world-- those guys-- and ask them to think about their customer-facing technology stack. And it's very complex. And you're going to inevitably find that they've got a corporate IT team that has built a ton of stuff. You're going to inevitably find that they're either using Salesforce or Microsoft for CRM. You're going to find that they are now standardizing maybe on Adobe. And they still got a chunk of mishmash point solutions.

And ask them who among the existing crop of next generation companies has a shot at being the third or fourth platform. This is huge. You know how big these other companies are. And they need a third or fourth platform. And Sprinklr is quickly becoming that third or fourth enterprise customer-facing platform that works with the Salesforce, Adobes, and the Microsofts and gets them 80%, 90% of the way there with consolidation. So we think that this is a long-term play. We think that we should be investing more for our investors and our shareholders. The right thing is to double down and grab market share.

BRIAN SOZZI: Ragy, do you have any teams working internally on the Metaverse? Because the way I'm thinking about it right now-- and again, this is real-time-- I'm in the Metaverse. Maybe Brian Cheung tweets me something I don't like. I wish somebody would flag that to me.

RAGY THOMAS: Great question, Brian. Look, we are bullish on the vision that Facebook has laid out and the whole concept of AR, VR, and how we can change customer-facing functions. However, what we think large companies need today is a channel agnostic way to do their business. You can say I'm going to deal with you differently on the phone than if you were texting me or you were FaceTiming me.

So our approach has been how do we create an omnichannel ability so I can be in the Metaverse, maybe jump back and text you or email you or live chat with you? And that's the infrastructure that we have been building for 12 years. So the Metaverse is not here and now. It's coming. It's got a lot of promise. But what enterprises should do now is get a channel agnostic ability to sell and market and run advertising and to do customer care. And that's the foundation we help them lay.

BRIAN SOZZI: Well, I should clarify that Brian Cheung only tweets me nice things. We'll leave it there for now. Ragy Thomas, founder and CEO of Sprinklr, always good to see you. Have a great weekend.

RAGY THOMAS: Thank you, Brian. You, too.