Founded in 2003, ServiceNow has become a high-flyer in the SaaS business. Through a unique set of digital-workflow solutions, its mission is to “making work, work better for people.” Sharply differentiated from other SaaS vendors because it does not focus on the traditional segments of ERP, HCM and CRM, ServiceNow initially helped automate IT-department operations and service-management. It has recently expanded that core approach to create highly productive digital workflows by offering solutions for HR, customer service and cybersecurity. The company’s growth prospects got a huge boost late in 2019 when it hired as CEO Bill McDermott, the highly respected former longtime leader of SAP. McDermott quickly unveiled a detailed growth strategy: moving into vertical markets, building up its partner ecosystem and expanding beyond its focus to include mid-sized businesses. McDermott also began emphasizing the company’s platform capabilities—calling ServiceNow “the platform of platforms”—and exploring alliances with other SaaS vendors whose products are complementary to ServiceNow’s.
ServiceNow’s cloud services
The company breaks out its cloud services by audience. For IT, it offers service management, operations management, DevOps, security operations and more. For employees, HR service delivery and Finance operations management. For customers, customer-service management and field-service management. For industries, education, financial services, government, healthcare, manufacturing and telecommunications.
Why ServiceNow has earned a spot in the Cloud Wars Top 10
With calendar-2020 revenue likely to top $4 billion, ServiceNow has created a highly differentiated position for itself and is looking to capitalize on that unique set of capabilities amid the current trend of digital transformation among mid-sized and large corporations. Its unique strategy, expanding fleet of services, high-growth rates and bold vision promise a strong future for the company, which holds the #9 spot on the Cloud Wars Top 10 list.
The Cloud Wars Top 10 is a list of the 10 largest and most-influential cloud-computing companies in the world. With a combined market cap of about $5.5 trillion, these 10 companies have an enormous impact every hour of every day on billions of people and hundreds of thousands of companies. This Special Report analyses those 10 companies around 5 strategic themes: Opportunities, Challenges, Differentiation, Leadership, and Big Questions. We offer our insights on what they need to do in 2021 to continue to lead the world in innovation, speed, digital transformation, AI, ML, customer engagements, and more.