A party is an entity with which a Salesforce customer does business.

The statement is correct. In the context of the Salesforce Industries data model, a "Party" is a foundational concept used to represent any individual or organization with which the business (the Salesforce customer) has a relationship. This includes, but is not limited to, customers, households, business partners, suppliers, and other stakeholders. The Party model abstracts individuals (represented by Contacts or Person Accounts) and organizations (represented by Business Accounts) into a common "Party" entity, which is crucial for establishing a 360-degree view and managing complex relationships between them.

1. Salesforce Official Documentation

"Party Model": "The party model represents your customers and their relationships with other people and businesses. A party can be a person or a group of people

an organization

a household

or a legal entity... In the party model

a party is created for each account and contact record." (Salesforce Help

Industries Common Features

Party and Relationship Management

Party Model).

2. Salesforce Official Documentation

"How the Party Model Works": "The party model creates a Party record for each Account and Contact record. The Party object acts as a bridge

enabling you to create relationships between any two entities

regardless of whether they're individuals or business entities." (Salesforce Help

Industries Common Features

Party and Relationship Management

How the Party Model Works).

3. Salesforce Official Documentation

"Party and Relationship Management Data Model": The entity relationship diagram for Party and Relationship Management clearly shows the Party object as the central component linked to Account and Contact. This visualizes its role in representing any business entity. (Salesforce Help

Industries Common Features

Party and Relationship Management

Party and Relationship Management Data Model).