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Salesforce.com targets Wall Street with wealth creation plan

Fund managers ahoy

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Salesforce.com is kicking off a series of CRM (customer relationship management) packages targeting financial services, starting with a hostile Wall Street.

Salesforce.com Wealth Management Edition draws on more than two dozen pre-integrated partner applications and mash-ups from the AppExchange marketplace. These include customer management and financial services planning and regulatory tools for financial analysts, advisors and brokers. Wealth Management Edition is due in the third quarter.

Pricing is a slight departure from the Salesforce.com norm, and appears to fulfil chief executive Marc Benioff's promise for more expensive services. Wealth Management Edition is priced $500 per user per month, compared to the company's $695 a year for five users and $65 per user per year. Salesforce.com promised "high user adoption".

Salesforce.com is also planning versions for other sections of the financial services chain in banking, capital markets, insurance and mortgages.

Benioff let slip news of pricier offerings under a grilling last week from Wall for issuing relatively light first-quarter and full-year anticipated results, and for putting almost all revenues back into the company to fund massive expansion. Analysts expressed the view Salesforce.com's stock is over-priced, while Benioff sought to re-assure investors the on-demand customer relationship management market - and therefore Salesforce.com - is poised for growth.

By targeting Wall St, Salesforce.com risks treading on the toes of Bloomberg and Reuters, which also provide desktop-based financial tools for analysts.®

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