ServiceNow to Make Strategic Growth Investment in Leading Telecommunications Services Partner Prodapt

Rhea-AI Summary

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.

Positive

• Strategic investment in Prodapt to expand ServiceNow's presence in the telco industry
• Development of new AI-enabled solutions for the Telecom & Technology industry
• Establishment of a ServiceNow AI Center of Excellence
• Prodapt aims to increase certified ServiceNow professionals by 400% in 4 years
• Launch of TechCo Toolkit integration for Communications Service Providers

Negative

• None.

Financial Analyst

ServiceNow's strategic investment in Prodapt marks a significant move in the telecom industry's digital transformation landscape. This partnership aims to leverage AI-enabled solutions and expand the Now Platform's reach, potentially boosting ServiceNow's market share in the telecom sector.

The investment aligns with IDC's finding that 73% of global telecom service providers prioritize AI investments, indicating a substantial market opportunity. By establishing an AI Center of Excellence and focusing on the U.S. and European markets, ServiceNow is positioning itself to capitalize on this trend.

Prodapt's commitment to increasing its ServiceNow-certified professionals by 400% over four years signals a strong potential for revenue growth in ServiceNow's ecosystem. This expansion of skilled resources could lead to increased platform adoption and service revenue.

While specific financial terms weren't disclosed, this investment could yield significant returns if it successfully accelerates the development and adoption of AI solutions in the telecom industry. Investors should monitor future earnings reports for indicators of growth in ServiceNow's telecom sector revenue and overall ecosystem expansion.

Tech Industry Analyst

ServiceNow's investment in Prodapt represents a strategic move to strengthen its position in the telecommunications industry's digital transformation journey. By partnering with a telecom-focused services provider, ServiceNow is addressing the industry's shift from legacy systems to AI-driven automated platforms.

The creation of a ServiceNow AI Center of Excellence is particularly noteworthy. This initiative could accelerate the development of industry-specific AI solutions, potentially giving ServiceNow a competitive edge in the telecom sector. The TechCo Toolkit, already available in the ServiceNow Store, demonstrates the tangible outcomes of this partnership, offering practical solutions for Communications Service Providers (CSPs).

Prodapt's plan to embed Rise Up with ServiceNow's curriculum within Prodapt University is a forward-thinking approach to address the skills gap in the industry. By aiming to increase ServiceNow-certified professionals to over 1,500, this initiative could significantly expand the ecosystem of skilled implementers, potentially driving faster adoption and more successful deployments of ServiceNow's platform in the telecom sector.

This investment aligns with the broader trend of AI integration in telecom operations, positioning ServiceNow to capitalize on the industry's digital transformation needs. Investors should watch for the development of new AI-enabled solutions and their adoption rates among telecom clients as indicators of this partnership's success.

First ServiceNow telco-focused Ecosystem Ventures investment will help further digital business transformation through AI-enabled solutions, enhanced go-to-market capabilities, and Now Platform skills expansion

SANTA CLARA, Calif. & CHENNAI, India--(BUSINESS WIRE)-- ServiceNow (NYSE: NOW), the AI platform for business transformation, today announced its decision to make a strategic investment in Prodapt, a leading provider of digital and network services for the telecom and technology industries. As the first ServiceNow Ecosystem Ventures investment targeting the telco industry segment, Prodapt will promote the Now Platform to expand business transformation and leverage the learnings across clients through the development of new Telecom & Technology industry-specific, AI-enabled solutions, enhanced industry and domain specific go-to-market capabilities, and increased skilling of certified ServiceNow experts.

ServiceNow to make strategic growth investment in leading telecommunications services partner Prodapt (Graphic: Business Wire)

As enterprises around the world seek game changing pathways to increase growth and productivity, they are also looking to eliminate tech debt, consolidate system sprawl, and capitalize on the considerable opportunity with GenAI, especially in the telco industry. According to IDC, 73% of global telecom service providers identified AI investments as their top transformation priority as they move away from legacy systems to automated platforms.¹ Prodapt’s deep industry and functional domain expertise – along with ServiceNow’s single architecture, single data model, AI-first platform – will help accelerate the development and adoption of compelling AI solutions for clients through a new ServiceNow AI Center of Excellence, beginning with a primary go-to-market focus in the U.S. and European markets.

“Prodapt’s stellar reputation in the telco space and their proficiency with ServiceNow are a winning combination for customers seeking to accelerate their business transformation journeys,” said David Parsons, senior vice president of Ecosystem Ventures at ServiceNow. “Given the tremendous demand for ServiceNow expertise in various industry segments, our Ecosystem Ventures investments align to our corporate RiseUp objectives, enabling us to accelerate partners’ capability development to help get customers to value, faster. Our partnership with Prodapt does just that, by bringing the transformative power of AI to companies seeking competitive differentiation and advantage in today’s evolving market.”

“This investment is a strong testimony to Prodapt’s deep commitment to modernizing the Telecom Industry’s process and technology stack with an AI-first playbook and a strong focus on leading the Telco to TechCo transformation journey,” said Manish Vyas, Executive Director & Board Member, Prodapt. “By combining Prodapt's deep domain expertise and accelerators with ServiceNow's leading AI platform, we will co-create & deliver innovative AI-led next-generation customer experiences and operational efficiencies.”

To meet its goal of ensuring that more than 85% of its ServiceNow deployments have Now-certified experts and resources to drive greater customer value and success, Prodapt aims to increase its number of certified ServiceNow professionals by 400% in the next four years, to more than 1,500 full-time employees globally. Prodapt will embed Rise Up with ServiceNow’s curriculum within Prodapt University, the company’s initiative to create a world-leading training and deployment program for technical hires, giving graduates deep ServiceNow skillsets as well as telco and technology expertise.

As an established ServiceNow partner since 2022, Prodapt has already combined its industry offerings with the Now Platform to launch integrations including the TechCo Toolkit, which helps Communications Service Providers (CSPs) accelerate service activation, automate manual work, and use AI capabilities for business operations. The toolkit is now available in the ServiceNow Store.

ServiceNow Ecosystem Ventures is investing in Prodapt in support of the program’s goal to accelerate growth in services partners focused on targeted c-suite buyer personas, market segments and key industries. Recent investments include Plat4mation in Germany, InMorphis and ANSR in India, and Blueship/Japan Systems and AoraNow in Japan.

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.

© 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.

About Prodapt

Prodapt is the largest and fastest-growing specialized player in the Connectedness industry, recognized by Gartner as a Large, Telecom-Native, Regional IT Service Provider across North America, Europe and Latin America. With its singular focus on the domain, Prodapt has built deep expertise in the most transformative technologies that connect our world.

Prodapt is a trusted partner for enterprises across all layers of the Connectedness vertical. We design, configure, and operate solutions across their digital landscape, network infrastructure, and business operations – and craft experiences that delight their customers.

Today, our clients connect 1.1 billion people and 5.4 billion devices, and are among the largest telecom, media, and internet firms in the world. Prodapt works with Google, Amazon, Verizon, Vodafone, Liberty Global, Liberty Latin America, Claro, Lumen, Windstream, Rogers, Telus, KPN, Virgin Media, British Telecom, Deutsche Telekom, Adtran, Samsung, and many more.

A “Great Place To Work^® Certified™” company, Prodapt employs over 6,000 technology and domain experts in 30+ countries across North America, Latin America, Europe, Africa, and Asia. Prodapt is part of the 130-year-old business conglomerate The Jhaver Group, which employs over 30,000 people across 80+ locations globally.

Visit www.prodapt.com for more information. Follow us on LinkedIn.

¹ IDC, 2023 Telecommunications Service Provider Transformation Plans and Strategies Survey Highlights, Doc# US49352223, May 2023

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724964825/en/

ServiceNow

Lindsay Capurro

503-551-2655

Press@servicenow.com

Prodapt

Sangeetha Mohan

Sangeetha.Mohan@prodapt.com

Source: ServiceNow, Inc.

FAQ

What is the purpose of ServiceNow's investment in Prodapt?

ServiceNow's investment in Prodapt aims to expand business transformation using the Now Platform, develop AI-enabled solutions for the Telecom & Technology industry, enhance go-to-market capabilities, and increase the number of certified ServiceNow experts.

How many certified ServiceNow professionals does Prodapt plan to have in the next four years?

Prodapt plans to increase its number of certified ServiceNow professionals by 400% in the next four years, reaching over 1,500 full-time employees globally.

What is the TechCo Toolkit launched by Prodapt and ServiceNow (NOW)?

The TechCo Toolkit is an integration launched by Prodapt and ServiceNow that helps Communications Service Providers accelerate service activation, automate manual work, and use AI capabilities for business operations. It is available in the ServiceNow Store.

Which markets will the new ServiceNow AI Center of Excellence initially focus on?

The new ServiceNow AI Center of Excellence will initially focus on the U.S. and European markets.