SERVICENOW, INC. - NOW STOCK NEWS

ServiceNow (NYSE: NOW) has announced new AI-powered industry solutions in its Now Platform Xanadu release. The expansion of Now Assist into various sectors allows organizations to quickly realize the value of GenAI. Key developments include:

1. Now Assist for Banking integrates with ServiceNow Disputes Management, Built with Visa, to enhance productivity and customer loyalty.

2. New Retail Operations and Retail Service Management solutions unify retailers' ecosystems for consistent experiences across channels.

3. Now Assist for Telecom, Media, and Technology (TMT) improves customer service with GenAI-powered problem summarization and resolution.

4. Now Assist for Financial Services Operations (FSO) boosts agent productivity and customer experiences in banking and insurance.

5. Now Assist for Public Sector Digital Services (PSDS) helps government employees handle complex cases more efficiently.

ServiceNow (NYSE: NOW) has announced new innovations in its Now Platform Xanadu release, aimed at boosting productivity and strengthening collaboration across enterprises. Key features include:

1. A new integrated development environment (IDE) for faster app development and collaboration
2. Enterprise Architecture for streamlined IT processes
3. Updates to AIOps and Service Reliability Management for improved IT operations
4. Guided Self-Service in Employee Center for easier cross-departmental help

These innovations are designed to help organizations scale to meet rapid innovation, improve operational efficiency, and accelerate business transformation. The release is now generally available to all customers.

ServiceNow (NYSE: NOW) announced plans to integrate Agentic AI into its platform, aiming to unlock 24/7 productivity across various business functions. The company's AI Agents will use advanced reasoning and cross-enterprise data to evolve from prompt-based activity to deep contextual comprehension.

Key points:

• First use cases, Customer Service Management AI Agents and IT Service Management AI Agents, expected to launch in November 2024
• New Now Assist Skill Kit enables custom GenAI skills development on the ServiceNow platform
• AI Agents aim to reduce mean-time-to-resolution and enhance live agent productivity
• ServiceNow envisions future collaboration between humans and AI teams for proactive task management

ServiceNow reported Q2 2024 financial results, surpassing guidance across all topline growth and profitability metrics. Subscription revenues reached $2,542 million, marking a 23% year-over-year growth. Total revenues were $2,627 million, a 22% increase. The company's current remaining performance obligations (cRPO) hit $8.78 billion, a 22% rise, and overall RPO totaled $18.6 billion, up 31% year-over-year.

ServiceNow experienced a 15% growth in customers with over $1 million in annual contract value, now totaling 1,988. Net new annual contract value (NNACV) transactions over $1 million increased 26% to 88. The company raised its full-year 2024 subscription revenue guidance following Q2 outperformance.

Leadership updates include the resignation of President and COO CJ Desai, with Chris Bedi stepping in as interim Chief Product Officer. ServiceNow also announced strategic AI partnerships and the launch of new AI-driven tools and capabilities.

ServiceNow (NYSE: NOW) has announced a strategic investment in Prodapt, a leading provider of digital and network services for the telecom and technology industries. This marks ServiceNow's first Ecosystem Ventures investment targeting the telco industry segment. The partnership aims to:

1. Expand business transformation using the Now Platform
2. Develop new AI-enabled solutions for the Telecom & Technology industry
3. Enhance industry-specific go-to-market capabilities
4. Increase the number of certified ServiceNow experts

Prodapt plans to increase its certified ServiceNow professionals by 400% in the next four years, reaching over 1,500 full-time employees globally. The collaboration will also establish a new ServiceNow AI Center of Excellence, focusing initially on the U.S. and European markets.

ServiceNow and Boomi have announced a strategic commitment to enhance customer experiences through AI-powered self-service. Key points include:

1. Boomi will use ServiceNow solutions, including Technology Provider Service Management (TPSM), to streamline customer support and improve self-service.

2. ServiceNow will integrate Boomi's API Management (APIM) capabilities with Automation Engine for enhanced API visibility and governance.

3. Boomi will utilize ServiceNow's App Engine to build workflows into its Master Data Hub for a more intuitive user experience.

4. The collaboration aims to eliminate silos, simplify processes, and drive operational efficiency through intelligent automation.

5. The new offerings are expected to be available later this year.

ServiceNow (NYSE: NOW) has acquired Raytion to enhance its GenAI-powered search and knowledge management capabilities on the Now Platform. Raytion's information retrieval technology will enable unified real-time access to business-critical data across multiple enterprise sources, providing a more powerful, efficient, and personalized AI search experience. This acquisition aims to address the complexity of modern enterprise environments by integrating secure access to information from various data sources, allowing ServiceNow's AI Search to offer an intelligent search experience from a single entry point.

The integration of Raytion's technology with ServiceNow's platform is expected to boost self-service and case deflection by providing comprehensive, relevant search results in one centralized location. ServiceNow's single data model will further enhance this capability, enabling a more personalized experience for users based on their history and interactions.

Bell Canada and ServiceNow have announced an expanded multi-year strategic agreement to accelerate Bell's digital transformation and leadership in AI-powered solutions. As part of this collaboration, Bell will expand its use of the ServiceNow platform to enhance its tech services portfolio for enterprise customers and transform its network and IT infrastructure. The Now Platform will streamline critical business areas for Bell, including Network, Customer, Field Service Operations, and Corporate Services.

Key benefits of this partnership include:

• AI-optimized experiences leveraging GenAI-driven insights
• Enhanced customer support through automation
• Faster service deliveries using purpose-built telecommunications solutions

This agreement positions Bell as a leader in Canada's tech services landscape, offering end-to-end support for enterprise digital transformations while transforming its own network and infrastructure.

ServiceNow (NYSE: NOW) has announced that it will disclose its Q2 2024 financial results on July 24, 2024, following the market close. The results will be discussed during a conference call and live webcast starting at 2 p.m. Pacific Time. Investors and interested parties can join the call by dialing specified numbers or accessing the webcast link. An audio replay will be available two hours post-conference and will remain accessible for 30 days through the ServiceNow investor relations website.