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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) has been recognized as a Leader in the 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools for the second consecutive year. This recognition highlights their Vendor Risk Management solution that addresses risks from increased digitalization in business operations. Benefits include enhanced efficiency through automation, improved resilience via continuous monitoring, and integration with existing enterprise workflows. The evolving market for IT VRM tools emphasizes automation and the importance of third-party risk management.
ServiceNow (NYSE: NOW) announced its participation in four upcoming investor conferences. Executives will present at:
- Wolfe Research TMT Conference - Chirantan “CJ” Desai, September 8, 11:35 a.m. PT
- Deutsche Bank 2021 Technology Conference - Gina Mastantuono, September 10, 10:25 a.m. PT
- Citi 2021 Virtual Global Technology Conference - Gina Mastantuono, September 13, 11:40 a.m. PT
- Jefferies 2021 Software Conference - Lara Caimi, September 14, 1:30 p.m. PT
Live webcasts will be available on ServiceNow's investor relations website.
ServiceNow (NYSE: NOW) has appointed Jon Sigler, a veteran in enterprise software with over 25 years of experience, to lead its Now Platform product organization. Sigler, formerly with Salesforce, Apple, and Microsoft, will drive innovation in ServiceNow's offerings, enhancing its role in digital transformation for over 80% of Fortune 500 companies. Chief Product Officer Chirantan Desai emphasized the importance of visionary leadership to capture market opportunities. Sigler expressed enthusiasm for advancing ServiceNow’s no-code platform, marking a pivotal moment in customer digital transformation.
ServiceNow (NYSE: NOW) appointed Sukumar Rathnam, former CTO of Uber, to its board of directors, expanding the total to 12 members. Rathnam brings a wealth of experience in digital innovation, having led engineering at Uber and product management at Amazon. His addition is expected to bolster ServiceNow’s vision for becoming a leading enterprise software company. CEO Bill McDermott emphasized Rathnam's dynamic leadership and the significance of his role in driving the company's innovative journey in this digital era.
ServiceNow (NYSE: NOW) has expanded its partnership with Telia Company, a leading telecommunications provider in the Nordic and Baltics, to enhance service operations on the Now Platform. This collaboration aims to streamline service management and improve customer service through intelligent automation. By leveraging the Now Platform, Telia will enable more efficient incident management, proactively notify customers of network issues, and ultimately improve customer experiences while reducing costs. This initiative is part of Telia's broader digital transformation strategy.
ServiceNow (NYSE: NOW) announced its agreement to acquire Mapwize, an indoor-mapping company based in Lille, France. This acquisition aims to enhance the employee experience by integrating Mapwize's mapping capabilities into ServiceNow's platform, allowing for better navigation of workspaces. The acquisition is expected to be finalized in Q3 2021, although financial details have not been disclosed. This move aligns with ServiceNow's strategy to support hybrid work environments and improve workplace management.
ServiceNow (NYSE: NOW) has appointed former Deloitte CIO Larry Quinlan to its board of directors, increasing the board's total to 11 members. CEO Bill McDermott expressed confidence in Quinlan's expertise in digital transformation, which aligns with ServiceNow's objectives of growth and innovation. Quinlan previously oversaw a $2 billion tech organization at Deloitte and has extensive experience advising Fortune 500 companies. He emphasized the importance of digital transformation and expressed enthusiasm about joining ServiceNow to enhance workflows for clients.
ServiceNow (NYSE: NOW) reported impressive financial results for Q2 2021, with subscription revenues reaching $1,330 million, a 31% increase year-over-year. Current remaining performance obligations (cRPO) stood at $4.7 billion, up 34%. The company added 25% more customers with annual contracts exceeding $1 million. Despite a minor dip in gross profit margins, the company anticipates strong future growth, projecting full-year subscription revenues between $5,530 and $5,540 million, indicating a 29% annual growth rate.
ServiceNow (NYSE: NOW) has announced significant updates to its Workplace Service Delivery solution, designed for hybrid work environments. The enhancements include a user-friendly reservation feature for workspaces, improved space utilization capabilities for facilities teams, and new mapping tools for easier navigation within offices. These updates aim to optimize real estate costs, improve employee experiences, and streamline workspace management. The enhancements are expected to be available in Q3 2021, with ongoing efforts to support businesses transitioning back to office work.
ServiceNow (NYSE: NOW) has been recognized as a leader in the Omdia Universe report for AIOps solutions, scoring a top position for its ITOM Predictive AIOps solution with a 96% rating for solution breadth. The report highlights ServiceNow's acquisition of Loom Systems, which strengthens its holistic AIOps capabilities. Omdia praises the company's business-focused approach to IT management, leveraging integrated ITSM and ITOM solutions on a single platform to enhance performance monitoring. This recognition emphasizes ServiceNow's ongoing commitment to improving customer IT operations and business resilience.
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