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ServiceNow, Inc. (symbol: NOW) is an American software company headquartered in Santa Clara, California. It specializes in developing a cloud computing platform designed to help companies manage digital workflows across enterprise operations. By offering a comprehensive suite of software solutions, ServiceNow enables organizations to streamline and automate various business processes through a Software as a Service (SaaS) delivery model.
Originally focusing on IT Service Management (ITSM), ServiceNow has significantly expanded its capabilities. The company's platform now addresses various functions beyond IT, including customer service, HR service delivery, and security operations. This diversification allows enterprises to optimize multiple aspects of their operations through a single, integrated platform.
ServiceNow's recent achievements include partnerships with global enterprises to enhance their digital transformation journeys. The company's application development platform further enables businesses to create custom applications tailored to their specific needs. Financially, ServiceNow has shown robust performance, consistently delivering strong revenue growth and expanding its customer base worldwide.
Overall, ServiceNow continues to be a pivotal player in the enterprise software market, driving innovation and efficiency through its cutting-edge digital workflow solutions.
ServiceNow (NYSE: NOW) and Databricks announced a Zero Copy partnership to enhance machine learning and AI capabilities. The partnership leverages Databricks' Delta Sharing to enable high-bandwidth, bi-directional, and secure integration between the platforms. This integration allows Databricks customers to access data within ServiceNow's RaptorDB database, while ServiceNow customers can access Databricks' data to trigger workflows. The collaboration will enable customers to build custom GenAI applications and deploy AI-driven workflows that combine Databricks' AI capabilities with ServiceNow's workflow automation. The integration will be available to joint customers in the coming months.
ServiceNow has unveiled Workflow Data Fabric, an enhanced integrated data layer that unifies business and technology data across enterprises. The platform features Zero Copy connectors for instant AI-powered actions and is powered by the newly introduced RaptorDB Pro high-performance database, showing up to 53% improvement in transaction times and 27X faster reporting. The company announced a strategic partnership with Cognizant as the first partner to bring this solution to market. The system enables real-time, secure access to data from any source, supporting AI agents and workflow automation across the enterprise.
ServiceNow (NYSE: NOW) has been named a Leader in the first-ever 2024 Gartner® Magic Quadrant™ for AI Applications in IT Service Management (ITSM). The recognition is based on ServiceNow's completeness of vision and ability to execute in delivering AI capabilities that enhance ITSM, including machine learning, virtual agent, and generative AI (GenAI).
ServiceNow attributes this recognition to its customer reach advantage, innovative product roadmap, and strategic investment in research and development. The company launched Now Assist for ITSM in September 2023, introducing powerful GenAI capabilities to enterprise IT leaders. Now Assist equips IT teams with real-time insights and automates key tasks, reducing manual effort and accelerating decision-making.
Some key features of Now Assist for ITSM include AI Search, Virtual Agent improvements, chat summarization, incident summarization, resolution notes generation, and knowledge article generation. The solution also integrates with Copilot for Microsoft 365 and Slack.
ServiceNow (NYSE: NOW) has announced plans to invest $1.5bn (£1.15bn) into its UK business over the next five years. The investment includes:
- Expanding office space and significantly growing its employee base beyond the current 1,000 headcount
- Expanding London and Newport data centres with Nvidia GPUs for local processing of LLM data
- Offering new AI skills programmes to reach 240,000 UK learners by 2027
The announcement was made during the International Investment Summit. ServiceNow's AI platform is used by 85% of Fortune 500 and over half of FTSE100 companies. The company plans to bring Nvidia GPUs to its UK data centres to support UK processing of data on its LLMs. ServiceNow also commits to donating $1.5 million in grants to local non-profit organizations over the next five years.
ServiceNow (NYSE: NOW) and Zoom (NASDAQ: ZM) announced an expanded strategic alliance at Zoomtopia 2024 to integrate their generative AI technologies, ServiceNow Now Assist and Zoom AI Companion, in the first half of 2025. This integration aims to offer advanced workflow automation across both platforms, enhancing collaboration and productivity in enterprises.
The integration will allow Zoom AI Companion to summarize and transcribe team discussions, turning action items into tasks connected to ServiceNow workflows. Now Assist for Strategic Portfolio Management can then trigger proper workflows, automatically creating and assigning tickets. This collaboration seeks to transform unstructured conversations into structured data linked to intelligent workflows.
The integration requires the purchase of both Zoom's custom AI Companion add-on and ServiceNow Now Assist, with general availability expected in the first half of 2025.
ServiceNow (NYSE: NOW) has been named a Leader in the first IDC MarketScape: Worldwide SaaS and Cloud-enabled Spend Orchestration 2024 Vendor Assessment. This recognition is attributed to its Source-to-Pay Operations solution, which automates and streamlines procurement processes, enhancing efficiency and effectiveness.
Key features of the solution include:
- Improvement of procurement processing and compliance
- Acceleration of supplier qualification and accuracy
- Transformation of supplier management with digital experiences
- Streamlining end-to-end invoice processing and payment processes
The solution works with existing ERP and procurement technologies, offering a centralized employee portal, virtual agent technology, and real-time analytics. ServiceNow has also introduced Now Assist, a GenAI experience, to its Finance and Supply Chain Workflows, further simplifying the procurement intake process.
ServiceNow (NYSE: NOW) has announced it will release its third quarter 2024 financial results on Wednesday, October 23, 2024, after market close. The company will host a conference call and live webcast to discuss the results at 2 p.m. Pacific Time (21:00 GMT) on the same day.
Interested parties can join the call by dialing (888) 330-2455 (Passcode: 8135305) in North America or (240) 789-2717 (Passcode: 8135305) outside North America. A live webcast will also be available. An audio replay of the call will be accessible for 30 days after the event, available through the investor relations section of ServiceNow's website or by phone.
ServiceNow (NYSE: NOW) has announced new HR innovations at the HR Technology Conference to empower leaders in fueling employee and business growth. The updates include:
1. HR and GenAI innovations to enhance employee communications and improve engagement.
2. New capabilities in Talent Development and Employee Journey Management for better insight into employee experiences.
3. Content engagement for Employee Center to make company-wide communications more interactive.
4. Guided Self-Service for Employee Center to help employees get support across departments.
5. Leader Hub in Talent Development for greater visibility into the workforce.
6. Gigs & Projects in Opportunity Marketplace to define short-term work activities.
7. Enhancements to Employee Journey Management's Analytics Center for tailored guidance during career transitions.
These innovations aim to simplify workforce management on the Now Platform and support employees throughout their career journeys.
ServiceNow announced plans to accelerate digital experiences for nonprofits during the United Nations General Assembly (UNGA) in New York. The company aims to expand access to technology, knowledge, and opportunity to support the advancement of UN Sustainable Development Goals (SDGs). New research reveals that successful digital transformation efforts could help nonprofits serve an additional 103.1 million people per year.
ServiceNow is participating in various UNGA events and sponsoring activities to demonstrate its commitment to making the world work better. The company's ESG solution, powered by the Now Platform, has been enhanced to help organizations plan, manage, govern, and report on their ESG initiatives. These enhancements include a new Scope 3 dashboard for tracking greenhouse gas emissions and improved metrics capabilities.
ServiceNow (NYSE: NOW) has released its Now Platform Xanadu update, introducing hundreds of new AI capabilities to enhance customer agility, productivity, and employee experiences. Key features include:
1. Expansion of Now Assist GenAI to Security Operations and Sourcing & Procurement Operations
2. Now Assist integration with Microsoft Copilot for Microsoft 365
3. Now Assist Skill Kit for custom GenAI skills development
4. New AI innovations like data visualization generation, chat and email reply generation, and change summarization
5. LLM-based proactive prompts for HR Service Delivery
The release aims to streamline operations, maximize productivity, and deliver world-class experiences to customers. ServiceNow reported that Now Assist doubled its net-new annual contract value quarter-over-quarter in Q2 2024.
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