ServiceNow Named a Leader in Strategic Portfolio Management Tools Evaluation

Rhea-AI Summary

ServiceNow (NYSE: NOW) has been named a Leader in The Forrester Wave™: Strategic Portfolio Management Tools, Q2 2024. The report highlights the company's significant investment in Strategic Portfolio Management (SPM) and its enterprise-grade AI capabilities that improve decision-making and business value. Key strengths include application portfolio management, which offers robust inventory, capability mapping, and tracking features. ServiceNow introduced Now Assist for SPM, integrating AI for improved customer feedback response. The SPM solution consolidates business processes, enhances efficiency with AI and automation, and supports real-time analytics to align work with enterprise goals.

Positive

• Named a Leader in The Forrester Wave™: Strategic Portfolio Management Tools, Q2 2024.

• Strong application portfolio management with inventory, capability mapping, and tracking features.

• Significant investment in Strategic Portfolio Management (SPM) and enterprise-grade AI capabilities.

• Introduction of Now Assist for SPM, integrating AI for better customer feedback response.

• Enhanced efficiency with AI and intelligent automation features.

• Real-time analytics supporting trend anticipation, resource prioritization, and outcome improvement.

• Effective consolidation of business processes on a single platform.

• Optimized planning and resource allocation for accelerated goal achievement.

Negative

• Potential investor concern about the high costs of significant investment in AI and SPM.

• Implementation complexity and potential integration issues for new SPM features.

ServiceNow Strategic Portfolio Management recognized for its “breadth and depth” of core capabilities

SANTA CLARA, Calif.--(BUSINESS WIRE)-- ServiceNow (NYSE: NOW), the AI platform for business transformation, has been named a Leader in The Forrester Wave™: Strategic Portfolio Management Tools, Q2 2024. ServiceNow attributes this recognition to its Strategic Portfolio Management (SPM) solution’s enterprise-grade AI capabilities that are designed to increase business value and accelerate decision making.

According to the report, “ServiceNow doubled down on its investment in SPM, and the results show... ServiceNow capitalizes on its AI capabilities to enhance core capabilities and optimize planning. Application portfolio management (APM) is a particular strength with strong support for inventory, capability mapping, assessment, and tracking features. Collaboration enables broader user engagement. ServiceNow’s vision ambitiously focuses on connecting strategy, planning, and delivery in a user-friendly environment that enables organizations to execute strategies.”

“In today’s rapidly evolving AI-driven landscape, ROI for technology deployments often hinges on making the right choices at the right time. Strategic Portfolio Management is no longer a luxury, but an imperative for organizations seeking to stay ahead of the curve,” said Yoav Boaz, VP and GM of SPM at ServiceNow. “ServiceNow is helping our customers gain a clear advantage and capitalize on the opportunities in front of them by enabling data-driven decision making, optimized resource allocation, and accelerated goal achievement across the entire enterprise with our Strategic Portfolio Management solution.”

ServiceNow’s SPM solution consolidates work to achieve business goals and aligns it on a single, trusted AI platform, enabling business leaders to have a 360-degree view across the enterprise to make more informed decisions and meet goals quickly. ServiceNow is one of the fastest growing players in the SPM market, and it recently expanded its capabilities by introducing Now Assist for SPM, which integrates Now Assist AI and synthesizes customer feedback and requests in one place, so organizations can respond to evolving customer needs faster and more efficiently.

Key capabilities of ServiceNow's SPM solution include:

• Harness AI and intelligent automation to increase efficiency
  • Break down barriers and resolve issues fast with a generative AI-powered virtual agent
  • Optimize business processes and uncover trends and patterns using in-platform process mining
  • Automate routine tasks with machine learning so product managers can focus on more meaningful work
• Consolidate processes and increase visibility in a single platform
  • Empower teams with a hub for end-to-end planning, visualization, and collaboration, as well as for capturing, assessing, and managing business demands and resources
  • Support the management of funds, as well as simulate and compare investment scenarios, so leaders can make sure that spend maps back to business strategies and objectives
  • Anticipate trends, prioritize resources, and continuously improve outcomes with real-time analytics
  • Align all work across the platform to enterprise goals with the new Collaborative Work Management solution—a central hub for knowledge workers
• Deliver business outcomes quickly and precisely
  • Prioritize, plan, manage, and scale agile portfolios and investments for optimal business value so organizations can deliver innovative products and services faster
  • Ensure investments reflect organizational strategies to achieve the desired business results with real-time tracking of goal progress
  • Accelerate value delivery across the enterprise by enabling teams to manage work using any work methodology (traditional, agile, hybrid)

For more information on ServiceNow SPM, visit: https://www.servicenow.com/products/strategic-portfolio-management.html

A complimentary copy of the Forrester SPM Tools Wave report is available here.

About ServiceNow

ServiceNow (NYSE: NOW) is putting AI to work for people. We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit: www.servicenow.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605936420/en/

Katlyn Hirokawa

408-489-7381

press@servicenow.com

Source: ServiceNow

FAQ

What is ServiceNow's recent recognition in Strategic Portfolio Management?

ServiceNow has been named a Leader in The Forrester Wave™: Strategic Portfolio Management Tools, Q2 2024.

How does ServiceNow's Strategic Portfolio Management solution enhance business processes?

ServiceNow's SPM solution enhances business processes by consolidating them on a single AI platform, improving efficiency with intelligent automation, and supporting real-time analytics.

What are the key features of ServiceNow's SPM solution?

Key features include AI-based efficiency improvements, generative AI-powered virtual agents, process mining, machine learning, and real-time analytics.

How does ServiceNow's SPM solution support decision-making?

The solution provides a 360-degree view across the enterprise, enabling data-driven decisions, optimized resource allocation, and accelerated goal achievement.

What is 'Now Assist for SPM' from ServiceNow?

Now Assist for SPM is a feature that integrates AI to synthesize customer feedback and requests, helping organizations respond more efficiently.