It’s almost the end of the month, and I’m back with our monthly ServiceNow news roundup. Last month, we just missed the cut-off to report on ServiceNow’s earnings call, so you’ll get a quick recap of that below, plus what CEO John Donahoe says is next for ServiceNow.
Before we get started – just a quick note on ServiceNow’s Madrid release. It’s scheduled to “go-live” early March and PDI’s are already available with the Madrid updates. Has anyone had a chance to play around in it? If you have, you’d see a bunch of new features, such as a mobile studio and Agent for ITSM. We’ll be diving deep into more of these when Madrid does their public launch, so stand by for that!
Now, onto the news…
After their final 2018 earnings report, ServiceNow is dubbed “the cloud king”.
After their Q4 earning report Jim Cramer, from CNBC’s Mad Money, calls them “the cloud king” and cites their long run of high stock value as a direct result of them continuously outperforming and outgrowing their own sales goals.
They are in fact a “classic cloud story” as Cramer points out, being on the backend of the business in everything from HR to IT and Facilities. They help companies save money on labor costs, plus drive top-end revenue. As Cramer introduces and welcomes ServiceNow CEO John Donahoe to the show, he mentions that he has been on the show before and says that he “has always been dead right.” So, what did Donahoe talk about this time?
He starts off with a few numbers:
- After the end of Q4 in 2018, ServiceNow reported working with 75% of Fortune 500 companies. He says, “Increasingly in these large companies the question is not ‘are you using ServiceNow?’ but it’s ‘why aren’t you using ServiceNow?'”
- ServiceNow saw total filings rise 38% year over year in Q4 of 2018. Similarly, subscription revenues climbed 33%.
- ServiceNow had 51 transactions over $1 million in Q4 of 2018.
After a quick overview of some of ServiceNow’s recent accelerates, Donahoe dives into what’s next for ServiceNow.
The short of it is all about employee experience. It’s about helping these companies, particularly the larger ones, create an experience that is easily accessible, saves money for the company, and makes employees more productive and more fulfilled in their work-lives. Donahoe says that the “cross-functional experiences” that ServiceNow provides will be even more valuable in the coming releases.
A huge part of these experiences, both for employees and customers who are being supported on ServiceNow’s platform, is the mobile experience. “Mobile is coming to the enterprise.” Donahoe is very adamant about this, even alluding to “consumer grade mobile experiences” that ServiceNow will be launching in the coming year.
Watch the full segment here on CNBC.
As machine learning gets a boost, ServiceNow’s platform explores new possibilities.
For a long time (decades even), terms like machine learning and automated intelligence (AI) were the things of science fiction. But today, most workplaces employ some form of automation, which translates directly into time and cost savings.
ServiceNow’s platform, particularly in the most recent releases (and soon in the upcoming Madrid release!), capitalizes on this newly achievable automation technology – not with the goal of replacing employees with machines, but with the idea that these employees will have more time to focus on higher-value tasks.
In their recent Workflow article (Workflow is the ServiceNow blog with insights for leaders), they explore automation platforms like AutoML, which is an automation platform for machine learning. Seems counterintuitive, right?
Actually, machine learning can be a very manual process. You essentially have to teach the machine to recognize things over and over again to establish patterns, taking many precious hours before it’s functional on its own. But with a platform like AutoML, you are able to overcome process automation hurdles of machine learning…all without the human attention by providing your input data and what you want it to predict. From there, AutoML iterates through all available machine learning models to choose the best one.
AutoML is not the only platform like this – ZoomInfo is developing their own platform for automating machine learning, and there I have no doubt ServiceNow will be working to incorporate the technology and processes into their own platform.
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