ServiceNow is Connecting all Aspects of a Business Simply, Efficiently, and Productively on a Single Cloud Platform
The ongoing digital transformation of business accelerated during the pandemic and continues apace. Remote work and the need for improved collaboration tools were obvious drivers, along with the enormous cybersecurity challenges posed by having employees, customers, and vendors suddenly working from countless unsecured locations. The comprehensive process changes required by physical separation prompted an openness to evolution that spawned a new generation of software tools for work. While many of these are helpful, the sheer number of them is overwhelming.
One tool, however, is becoming the number-one choice-in-category among enterprises across the globe, and that tool is ServiceNow. ServiceNow’s offering is about making the mounting complexity of our digital work life simpler, improving business efficiency, and enhancing the employee experience. Those benefits lead in turn to improvements in hiring and retention. With hybrid work environments becoming the norm, remote support is also key. ServiceNow offers employees the same support in a remote location that they would have in an office with support staff nearby.
ServiceNow is a meta tool for technology in an enterprise: it makes all other digital tools work together in a unified and integrated way. It helps workflows internally, within and across departments and silos, and externally, with customers and vendors. In the 20th century this kind of integration was unimaginable.
Today, with dozens of tools being used by different segments of a business, there is a desperate need for integration and consistency. Integration means information can be shared easily and timely whenever it is needed. Cross functional teams can work efficiently with higher productivity and work satisfaction. A consistent employee experience means training and internal moves are simplified. In the war for talent, a lower friction employee experience is a significant competitive advantage. In addition, more efficient employees means that fewer high quality hires are needed, which is crucial in today’s tight labor market.
The ServiceNow platform makes this incredibly valuable integration and consistency possible and cost effective. The proof is in the numbers: ServiceNow's reported financial results for the first quarter of 2022 saw a 30.5 percent improvement in revenue year over year. They anticipated a similar year over year increase for the second quarter. This type of growth is made possible by the platform’s success in onboarding and retaining customers, on top of the rising tide of digital transformation. With the addressable market for ServiceNow anticipated to reach $190 billion by 2028i , the runway for the platform is long.
Many companies are profiting from leveraging the ServiceNow platform. Here are some examples:
- Deloitte UK streamlined administrative time and saved 100,000 pieces of paper in the first three months.
- EY increased alignment between HR services and business goals.
- Coca-Cola created a one-stop digital workflow platform in support of the best possible employee experience, unlocking over a million hours of productivity for 23,000 employees.
Analysts and research firms agree that ServiceNow is a top low code platform for enterprise. Forrester put it most succinctly when it noted: “ServiceNow has grown to a low-code platform of the first rank. Known for its IT service management solutions, ServiceNow has invested heavily in its low-code tooling and ‘workflow platform’ messaging. It brings a strong route-to-market through its installed base and popularity among IT developers. We believe ServiceNow is uniquely positioned to help customers automate processes and build business service applications with speed at scale.”ii
With over 1,500 partners, a 98 percent renewal rate, and the engagement of 80 percent of the Fortune 500, ServiceNow is an enduring platform for a fast-changing world. With an expectation to reach supporting 90 percent of the Fortune 500 in 2023, there is unparalleled worldwide opportunity for both the platform and the highly-skilled consultants trained to implement its usage. As ServiceNow recently noted in a presentation to its investors, “We are not opportunity constrained.” ServiceNow is focused on expanding industry solutions and enterprise resource planning (ERP) workflows, accelerating customer adoption, broadening its market presence, and ultimately scaling its partner ecosystem as it “unlocks value…[and creates] new and compelling digital experiences.”iii The world of work has changed forever, and ServiceNow has become a cornerstone of operational excellence in the 21st century enterprise.
iii ServiceNow Financial Analyst Day 2022 presentation, May 24, 2022