When considering investment ideas, one thing I look for is strong, double-digit revenue growth. That's because the pace at which a company can grow sales sets the bar for every other aspect of its financial performance. Of course, it's not the only metric that matters, and it's great to see incremental profitability driven by improving margins. But revenue growth is the real driver of cash flow over the long term. And for that reason, it's often a good predictor of stock performance.

Globant (NYSE:GLOB) and Salesforce.com (NYSE:CRM) have increased sales at a tremendous pace in recent years, and both companies are well positioned to maintain that momentum in the years ahead. Here's what you should know.

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1. Globant

Globant is an IT consulting firm that helps clients adapt to and succeed in an increasingly digital world. The company's services are organized into studios (areas of deep expertise) that range from building sustainable business strategies to implementing new technologies. Specifically, Globant specializes in trendy areas like blockchain, cloud computing, cybersecurity, and video game design.

The company also provides an array of AI-powered tools that accelerate digital transformation. For instance, Augmented Coding is a product that facilitates software development by predicting code, and Navigate is a decisioning platform that helps organizations analyze business processes to anticipate bottlenecks and improve efficiency.

Globant's broad range of expertise and its focus on emerging technologies have helped it grow quickly. As of the second quarter, 941 companies rely on its consulting services, including the likes of Alphabet's Google, Coca-Cola, and Walt Disney. Notably, 154 of those customers spend over $1 million each year, up 36% from the prior year.

That success with large clients has been a significant growth driver for Globant.

Metric

Q2 2016 (TTM)

Q2 2021 (TTM)

CAGR

Revenue

$291.9 million

$1.0 billion

28%

Source: YCharts. TTM = trailing-12-months. CAGR = compound annual growth rate.

Going forward, Globant is well positioned to maintain that momentum. In the coming years, digital transformation promises to enhance operational efficiency and improve the customer experience, boosting profitability for businesses that effectively leverage technology. And Globant's portfolio of services fits that bill perfectly.

The company puts its market opportunity at $154 billion by 2022. That's a big part of the reason why this stock looks like a smart long-term investment.

2. Salesforce

Salesforce is another company that should benefit from digital transformation. Its customer relationship management (CRM) platform includes applications for sales, marketing, commerce, and customer service, as well tools for visual analytics and workflow automation. Collectively, that suite of products helps businesses manage and deploy customer data in a way that drives sustainable growth.

In fact, Salesforce has become the gold standard in the CRM industry. It held 19.5% market share in 2020, according to the International Data Corp., more than the next four competitors combined. The company earned that position through strategic acquisitions and continuous innovation. For instance, Salesforce has infused its applications with artificial intelligence, allowing clients to deploy chatbots and surface predictive insights that improve efficiency.

Today its CRM platform powers over 150,000 businesses worldwide, helping them build and maintain meaningful customer relationships. In turn, Salesforce has become the fastest-growing software-as-a-service (SaaS) company in history, reaching $20 billion in annual revenue more quickly than any other SaaS vendor.

Metric

Q2 2017 (TTM)

Q2 2022 (TTM)

CAGR

Revenue

$7.5 billion

$23.5 billion

26%

Source: Ycharts. TTM = trailing-12-months. CAGR = compound annual growth rate. Note: Q2 2022 ended July 31, 2021.

Going forward, management expects to generate over $50 billion in revenue during fiscal 2026, implying top-line growth of at least 18% over the next 4.5 years. However, I wouldn't be surprised the see Salesforce hit that milestone a year early. This company is a key enabler of digital transformation and remote work, and both trends should be tailwinds in the years ahead. That's why this growth stock belongs in your portfolio.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.