Your IT department says you need ServiceNow. You keep hearing ServiceNow is a dominant player in the IT Service Management industry. And yet when you try to understand why you should invest in ServiceNow, the platform’s underlying value proposition seems to get buried in a confusing jumble of techno-babble.
ServiceNow has certainly proven its value among adoring IT audiences, but many CEOs still view ServiceNow as just another technology expenditure with unclear business impact. You don’t need to be one of those CEOs. ServiceNow is not and has never been just another technology expenditure; it’s an investment in your company’s ability to digitally transform and drive new efficiencies and automation.
To make an informed decision about investing in ServiceNow, there are several key insights to understand ServiceNow that are relevant and critical to your decision-making processes. Let’s explore 10 shocking facts about ServiceNow that you may never hear from your IT team, but that you absolutely should know:
FACT 1: ServiceNow customers achieve an average ROI of 195%.
Contrary to what the uninformed may believe, ServiceNow is not a budget-draining expenditure with an unproven ROI (return on investment). Rather, it’s a proven investment that quickly pays for itself and saves you money. An independent Forrester study found that the average ServiceNow customer breaks even in just nine months, and goes on to achieve an ROI of 195% in three years. How does ServiceNow do this? Among other things, ServiceNow increased IT productivity by 20% and reduced Priority 1 incidents by 25%, according to Forrester. These returns allow IT to put more time and budget into mission-critical areas that advance digital transformation goals.
FACT 2: ServiceNow is Forbes’ most innovative company in the world.
ServiceNow is earning all sorts of well-deserved recognition within its niche of the enterprise service management marketplace. But ServiceNow also is turning heads as a corporate success story on the global stage. In 2018, Forbes magazine named ServiceNow the most innovative company in the world. That’s right—ServiceNow beat out household names like Tesla, Amazon, and Netflix to rise to the very top of Forbes’ rankings. Forbes attributed ServiceNow’s No. 1 position to the simplicity and customizability of the company’s products: “ServiceNow’s IT tools offer a single collection center for requests, data points, and checklists, all of which can, in turn, be analyzed by algorithms to predict needs, flag concerns, and measure efficiency.”
FACT 3: IT Service Management has never been ServiceNow’s endgame.
ServiceNow is known and respected the world over for its signature ITSM (Information Technology Service Management) platform, which automates the delivery and management of IT services across an organization. But surprisingly, the company’s go-to-market strategy has never just revolved around the ITSM platform. ServiceNow founder Fred Luddy has said that the ITSM platform was built first because it solved the immediate needs of customers; ServiceNow’s long-term goal has always been to convert all business tasks—from HR (human resources) to accounting to customer service—into consumerized services. This means ServiceNow can drive cost savings and increased employee productivity across all departments of your organization, not just IT.
FACT 4: ServiceNow is as much for your external customers as your internal ones.
Because of ServiceNow’s close association with the IT world, the company’s offerings are often perceived as backend systems that aren’t user-friendly or elegant enough for consumer use. This couldn’t be further from the truth. ServiceNow prides itself on designing beautiful, clean interfaces that are ideally suited to serve as self-service portals—both for internal users (i.e., employees and vendors) and external customers. These self-service interfaces, of course, are quickly becoming essential for modernizing the customer experience (CX) and delivering stellar and memorable customer service experiences.
FACT 5: ServiceNow is the world’s fastest-growing billion-dollar software company.
ServiceNow serves more than 4,000 customers today, including more than 40% of the world’s 2,000 largest publicly traded companies. More than 500 of these customers do at least $1 million in business annually with ServiceNow. With stats like this, it’s no surprise ServiceNow has become the world’s fastest-growing software company above $1 billion in revenue. When you invest in a successful enterprise solution like ServiceNow, you’re giving your entire C-suite peace of mind that the investment your company makes today will still be propelling your digital transformation efforts forward tomorrow.
FACT 6: The ServiceNow partner ecosystem is enormous.
ServiceNow is not just a fast-growing, multibillion-dollar technology company. ServiceNow also has fostered the growth and development of an enormous partner ecosystem that is now larger than the company itself. The official ServiceNow app store now offers more than 400 apps created by partners that extend the value of ServiceNow’s out-of-the-box offerings. A whopping 18,000 members of ServiceNow’s partner ecosystem attended ServiceNow’s 2018 Knowledge conference. Meanwhile, ServiceNow implementation partners like Crossfuze—a ServiceNow Gold Services Partner—play an essential role in helping companies maximize time-to-value when implementing ServiceNow.
FACT 7: ServiceNow is a digital transformation enabler.
When most CEOs think about digital transformation, they focus on the people and processes in their organization that will need to be reimagined. This overwhelming task, however, is made much more manageable with the right tools. Because the main reason for ServiceNow’s existence is to streamline and automate how work gets done, ServiceNow is a powerful and essential tool for driving digital transformation goals across your organization. Indeed, a 2018 Forbes article described ServiceNow as the “central nervous system of digital transformation.”
FACT 8: ServiceNow blows its ITSM competitors out of the water.
The respected research firm Gartner, famous for its Magic Quadrant analyses, has identified ServiceNow for the past five consecutive years as an ITSM industry leader. In the 2018 Gartner ITSM Magic Quadrant, ServiceNow is rated higher than any of its competitors for its ability to execute on its vision.
FACT 9: ServiceNow’s strategy isn’t to kill competing cloud enterprise platforms.
The market for cloud-based enterprise service management platforms is growing in leaps and bounds, and ServiceNow’s competitors abound. Surprisingly, though, ServiceNow isn’t aiming to push its competitors out of business; to the contrary, ServiceNow’s strategy is to aid customers in connecting ServiceNow to their non-ServiceNow platforms. “This is not a zero-sum game,” ServiceNow CEO John Donahoe said in a 2017 CIO.com interview. “Leading companies will use multiple platforms and decide how to best apply them. We will help them connect to the other platforms and let them sort it out.”
FACT 10: ServiceNow’s CEO doesn’t see himself at the top of his company.
John Donahoe has a very distinct leadership style when it comes to running ServiceNow. Here’s how he explained it to Business Chief magazine in 2018: “I’m at the bottom, working to make everyone else success, starting with our customers. Servant leadership demands constant listening and learning.” As CEO, Donahoe says his role is to be constantly listening and learning, soliciting feedback, and winning on behalf of customers. Thus, he necessarily thinks of himself as being at the bottom of his company, not the top.
We hope these insights about ServiceNow have helped you appreciate that ServiceNow isn’t just another piece of technology. Just as importantly, we hope these 10 surprising facts about ServiceNow will help you feel more confident about your decision to invest in ServiceNow.
If you’re ready to discuss how ServiceNow can drive digital transformation in your organization, please reach out to us or pass along our name to your CIO. We’d be glad to talk big-picture strategy with you! LetsTalk@crossfuze.com