ServiceNow Makes Strategic Investment in Leading Consulting & Implementation Partner Plat4mation

Rhea-AI Summary

ServiceNow (NOW) and Keensight Capital announced a strategic investment in Plat4mation, a global IT consultancy and leading ServiceNow implementation partner. This investment aims to accelerate customer time to value and drive partner growth by expanding go‑to‑market capabilities and enhancing proficiency in ServiceNow generative AI enabled technology. Plat4mation plans to focus on digital transformation in Germany’s Mittelstand sector, a major economic contributor in Germany, to drive increased ServiceNow adoption and value.

Insights

Market Research Analyst

The strategic investment by ServiceNow into Plat4mation signifies a concerted effort to penetrate the German Mittelstand sector, a segment that is pivotal to Germany's economy. The Mittelstand comprises a vast majority of German businesses and is known for its innovation and significant contribution to the nation's GDP. ServiceNow's initiative to expand its ecosystem through Plat4mation is indicative of a broader strategy to enhance digital transformation capabilities in key markets.

From a market research perspective, the focus on generative AI technology is particularly noteworthy. This investment is likely to bolster ServiceNow's competitive edge in the enterprise software market, where AI integration is becoming a critical differentiator. Moreover, the commitment to train over 400 new skilled individuals aligns with the growing demand for digital proficiency, which is essential for maintaining a robust talent pipeline in the tech industry.

Financial Analyst

ServiceNow's investment in Plat4mation could have a positive impact on its financial performance by expanding its market share in the European region. The partnership's emphasis on accelerating customer time to value suggests a strategy focused on customer retention and upsell opportunities. This could potentially lead to increased revenue streams and improved profitability margins in the long term.

Investors should also consider the synergistic potential of the collaboration. Plat4mation's established presence and expertise in the European market could facilitate smoother entry and faster adoption of ServiceNow's offerings. However, the financial implications will depend on the execution of the go-to-market strategy and the actual market uptake of ServiceNow's solutions post-investment.

Economist

The investment by ServiceNow in Plat4mation reflects a strategic allocation of capital towards sectors that are ripe for digital innovation. The German Mittelstand is known for its robustness and resilience and digitization efforts could further enhance productivity and economic output. The initiative to invest in human capital development through the RiseUp with ServiceNow program could also have a positive spillover effect on the local economy by creating high-skill job opportunities and fostering a technologically advanced workforce.

However, the success of such investments in terms of economic impact will largely depend on the extent to which these newly digitized businesses can leverage AI and digital workflows to drive efficiency and growth. If successful, this could serve as a model for digital transformation initiatives in other regions and sectors, potentially stimulating broader economic benefits.

First European investment by ServiceNow Ecosystem Ventures aims to accelerate customer time to value and drive growth through partners

Plat4mation to expand its focus on digital transformation in Germany’s Mittelstand sector

SANTA CLARA, Calif. & UTRECHT, Netherlands--(BUSINESS WIRE)-- ServiceNow (NYSE: NOW), the leading digital workflow company making the world work better for everyone, and Keensight Capital, a leading European Growth Buyout investor, today announced a strategic investment in Plat4mation, a global IT consultancy and leading ServiceNow implementation partner. This first European investment for ServiceNow Ecosystem Ventures aims to accelerate customer time to value and drive partner growth by helping to expand go‑to‑market capabilities and enhance proficiency in ServiceNow generative AI enabled technology. Plat4mation plans to leverage and expand its ServiceNow experience and credentials across the global customer and employee base. Given the massive market potential, Plat4mation will initially focus the digital transformation efforts in Germany’s critical medium-sized business segment, known as the Mittelstand.

ServiceNow Makes Strategic Investment in Leading Consulting & Implementation Partner Plat4mation (Graphic: Business Wire)

The Mittelstand is a major economic contributor in Germany, making up 99% of the 3.4 million companies in the country.¹ Leaders in the sector are eager to transform their businesses through digitization and AI, but struggle with how to get started in areas such as data protection, security requirements, talent skilling, and technological standards. As a European headquartered company, Plat4mation will use its expertise and relationships in the region to drive increased ServiceNow adoption and value.

“As ServiceNow partner opportunities continue to expand in Germany and central Europe, we need experienced practitioners and partners who can help customers accelerate time to value on their ServiceNow investments,” said David Parsons, senior vice president of Ecosystem Ventures at ServiceNow. “Plat4mation is an esteemed partner that has been instrumental in selling and delivering compelling business value and outcomes to our joint customers across the globe. Plat4mation plans to expand its ability to digitally transform and apply generative AI to targeted ‘use cases’ in some of the most innovative medium-sized businesses in Germany, helping their ongoing competitiveness, differentiation and growth.”

Plat4mation’s domain expertise and proficiency in helping customers modernize and transform their businesses will bring the benefits of ServiceNow’s platform to a new cross-industry sector. As part of this investment, Plat4mation will accelerate and incrementally add over 400 new ServiceNow skilled individuals in Germany and central Europe in support of RiseUp with ServiceNow, a global skilling initiative to train one million people on the Now Platform.

“Over the last 10 years, we built a global workforce of more than 450 employees to help our customers make workflow in every part of their business by providing ServiceNow advisory, industry and domain expertise,” said Elmer de Valk, CEO of Plat4mation. “As a ServiceNow pure-play partner, our destiny has always been intertwined with the success of ServiceNow. This investment pays tribute to our long-standing, mutually beneficial partnership. We look forward to further contributing to the success of ServiceNow by strategically expanding our footprint in the German Mittelstand, EMEA & U.S. markets.”

ServiceNow Ecosystem Ventures is investing alongside Keensight Capital, the lead investor. Launched in May 2023, Ecosystem Ventures has made previous investments in Blueship Co., Ltd and Japan System Co., Ltd, as well as ANSR in India.

Learn more about ServiceNow’s Ecosystem Ventures program here.

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¹ https://www.it-daily.net/it-management/digitalisierung/digitalisierung-im-deutschen-mittelstand-wie-sieht-der-status-quo-aus

About Plat4mation

Plat4mation is a global pure-play ServiceNow partner that makes work flow. Our solutions and strategic guidance drive digital transformation and boost employee happiness. Hereby empowering people to get work done quickly and efficiently so they can focus on what truly matters in their work.

By utilizing the golden square – People, Process, Platform and Performance, we provide tailored ServiceNow solutions and insights to ensure work flows intelligently across and between organizations. Enabling customers to continually measure and improve performance. After all, technology is only as good as the processes implemented around it, which in turn are only as good as the insights gained from it and the people responsible for them. www.plat4mation.com

http://www.keensightcapital.com/

About ServiceNow

ServiceNow (NYSE: NOW) makes the world work better for everyone. Our cloud-based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. So employees and customers can be more connected, more innovative, and more agile. And we can all create the future we imagine. The world works with ServiceNow™. For more information, visit: www.servicenow.com.

© 2024 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240206399161/en/

Media Contacts

ServiceNow

Lindsay Capurro

503-551-2655

press@servicenow.com

Plat4mation

Evelien van Loon

+31 61 679 6604

evelien.van.loon@plat4mation.com

Source: ServiceNow

FAQ

What is the ticker symbol for ServiceNow?

The ticker symbol for ServiceNow is NOW.

What is the focus of the strategic investment announced by ServiceNow and Keensight Capital?

The strategic investment aims to accelerate customer time to value and drive partner growth by expanding go‑to‑market capabilities and enhancing proficiency in ServiceNow generative AI enabled technology.

What is the initial focus of Plat4mation's digital transformation efforts?

Plat4mation will initially focus on the digital transformation efforts in Germany’s critical medium-sized business segment, known as the Mittelstand.

How many new ServiceNow skilled individuals will Plat4mation add in Germany and central Europe?

Plat4mation will incrementally add over 400 new ServiceNow skilled individuals in Germany and central Europe.

What is the goal of the RiseUp with ServiceNow initiative?

The goal of RiseUp with ServiceNow is to train one million people on the Now Platform.