ServiceNow Stock

ServiceNow, Inc. (ServiceNow) operates the end-to-end intelligent workflow automation platform for digital businesses.

The company’s intelligent platform, the Now Platform, is a cloud-based solution with embedded artificial intelligence (AI) and machine learning (ML) capabilities that helps global enterprises across industries, universities and governments unify and digitize their workflows. By connecting workflows across siloed organizational functions and systems, the Now Platform delivers business outcomes, including unlocking productivity, streamlining processes, and improving experiences for both employees and customers.

The company’s workflow applications built on the Now Platform are organized in four primary areas: Technology, Customer and Industry, Employee, and Creator. Its Technology Workflows empower Information Technology (IT) departments to plan, build, operate and service the IT needs of the business enterprise. The company’s Customer and Industry Workflows help organizations reimagine the customer experience and increase customer loyalty. Its Employee Workflows help customers simplify how their employees access services they need, creating a consumer-like experience. The company’s Creator Workflows enable customers to quickly create, test, and deploy their own low-code applications on the Now Platform.

Products

ServiceNow’s product portfolio—which spans the company’s Technology, Customer and Industry, Employee, and Creator & Other Workflows—is delivered on the Now Platform. The products under each of the company’s workflows help customers connect, automate and empower work across systems and silos to enable great outcomes for businesses and great experiences for people. Each year, two major platform upgrades are released, delivering new standard functionality and new standalone products to further simplify the way its customers work and enhance productivity.

The Now Platform

The Now Platform is the intelligent platform for end-to-end digital transformation. It is a single platform with one data model, one code base and one architecture, enabling speed, productivity and innovation and offering a one-stop shop for automation and simplification of manual processes. It is highly flexible, scalable, and extensible. The Now Platform automates workflows across an entire enterprise by connecting disparate departments, systems, and silos in a seamless way to unlock productivity and improve experiences for both employees and customers. As the foundation for how the company deliver its cross-enterprise digital workflows, the Now Platform orchestrates work across the company’s customers’ cloud platforms and systems of choice, allowing its customers to get work done regardless of their current and future preferred systems of record and collaboration platforms.

The automation of workflows on the company’s platform can be enhanced by additional functionality, including, depending on the product, AI (including generative AI), machine learning, robotic process automation, process mining, performance analytics, and low-code/no-code development tools. Further, the Now Platform is uniquely positioned to bring the full potential of generative AI to the enterprise. With its recent software release, the company has combined the power of the Now Platform with new generative AI features to provide AI-driven intelligence to every corner of the business. These features are offered through Now Assist, the company’s generative AI solution available for certain products at an additional cost. The company offers enterprise-ready, domain-specific large language models (LLMs) that power generative AI experiences on the Now Platform, and the company supports customer use of third-party LLMs. By infusing generative AI into the Now Platform and all ServiceNow workflows, the company is enhancing every business-critical function to increase productivity, accelerate agility and deliver value for customers across all industries.

The Now Platform also creates a common user experience to manage workflows across all interfaces so end users can get work done anywhere from web-based to mobile to conversation applications. Enterprises can leverage the company’s platform’s consumer-like experiences to help them deliver services, such as mobile HR information and tools or ordering a computer.

Technology Workflows

Technology Workflows help companies unite IT, technology, risk management and security operations on a single platform to deliver modern, resilient digital services aligned to the company’s customers’ priorities. The company’s Technology products enable IT departments to serve their customers, manage their IT infrastructure, identify and remediate security vulnerabilities and threats, gain visibility across their IT resources and asset lifecycles, optimize IT costs and reduce time spent on administrative tasks. The company’s Technology products also drive enterprise-wide outcomes, as well as power its Customer and Industry, and Employee Workflows.

Asset Management

The company’s Asset Management product suite includes IT Asset Management and Enterprise Asset Management. IT Asset Management inventories and automates customers’ software, hardware and cloud asset lifecycles with workflows and analytics to track the financial, contractual and inventory details of these IT assets from end-to-end. Enterprise Asset Management inventories and automates processes across the lifecycle of a customer's physical business assets from planning, deployment, inventory management and maintenance through retirement.

Cloud Observability

Cloud Observability provides deep, real-time visibility into cloud-native and monolithic environments that power the company’s customers’ internal- and external-facing products and services. Cloud Observability empowers site reliability engineering and application development teams to mitigate business disruption, accelerate innovation, and deliver outstanding customer experiences.

ESG Management

The company’s ESG Management product helps customers elevate their environmental, social and governance (ESG) programs with streamlined data collection, on-demand progress monitoring, and automated reporting. Integrations with Strategic Portfolio Management and Integrated Risk Management provide a holistic program that enables the company’s customers to accelerate and operationalize their ESG strategies by setting material goals and policies, tracking metrics and risks, driving enterprise-wide compliance and enabling investor-grade ESG disclosure.

Integrated Risk Management

The company’s Integrated Risk Management (IRM) product suite helps customers manage risk and resilience in real time. IRM’s capabilities include policy and compliance management, regulatory change management, compliance case management, IT and operational risk management, audit management, business continuity management, privacy management, and third party and vendor risk management.

IT Operations Management

The company’s IT Operations Management product helps identify, monitor and manage a customer’s physical and cloud-based IT infrastructure. It identifies a customer’s IT infrastructure components (e.g., servers) and associated digital services (e.g., email), which are dependent upon that infrastructure. It also maintains a single data record for all IT configurable items, which allows its customers to exercise control over their on-premises or cloud-based infrastructures and orchestrate key processes and tasks.

IT Service Management

The company’s IT Service Management (ITSM) product, powered by AI, defines, structures, consolidates, manages and automates the digital services that an enterprise offers its employees, customers and partners. ITSM’s capabilities include, among others, predictive intelligence, Virtual Agent, incident management and response, routine task and request automation, performance analytics and process optimization capabilities.

Now Assist for ITSM, a generative AI solution, can help improve agent productivity and the employee experience with faster, more seamless resolutions. It provides summaries of Virtual Agent interactions and incident history so agents can efficiently resolve incidents. Upon incident closure, solution notes are generated to speed wrap times and adhere to incident management best practices.

Security Operations

The company’s Security Operations product suite connects security with the rest of the enterprise, integrating internal and third-party security and vulnerability data to quickly respond to security incidents and vulnerabilities, prioritized according to their potential impact on a customer’s business.

Strategic Portfolio Management

The company’s Strategic Portfolio Management (SPM) product enables customers to drive business outcomes by aligning their strategy with investments and execution. SPM helps customers plan, visualize and track value realization across their portfolio of projects, initiatives and digital products all on one platform.

Customer and Industry Workflows

Customer and Industry Workflows help organizations reduce costs while delivering seamless experiences with connected digital workflows that deliver modern customer experiences and industry-specific use cases. Customer and Industry Workflows help customers elevate their customer service with enhanced resolution efficiency and improved service quality made possible with workflows, automation, AI, and location-based work tasks management. Customer service departments no longer need to rely on agents searching multiple systems to find a single resolution to customer requests. Integrating front-end customer service capabilities with operations, order fulfillment and field service resources, the company’s Customer and Industry Workflows products help create a seamless customer experience from request to resolution through connected digital workflows that deliver fast support on a customer’s channel of choice.

Customer Service Management

The company’s Customer Service Management (CSM) product helps teams deliver seamless customer service experiences by connecting front, middle and back offices, optimizing omnichannel self-service automated issue resolution, and enabling agents with real-time intelligence. Additionally, with CSM, companies can route work to the right agent based on priority and category, decreasing errors by surfacing recommended solutions based on prior cases and interactions.

Now Assist for CSM, a generative AI solution, rapidly generates summaries for cases and chats, reduces manual work, and allows agents to resolve customer issues faster. This solution helps accelerate time to resolution, reduce case volume, and personalize service, which leads to reduced customer effort and increased customer satisfaction.

Field Service Management

The company’s Field Service Management product automates and streamlines field service processes to increase technician productivity, improve first time fix rates, and optimize field technician dispatching. With work order management, schedule optimization, dispatching, and preventative maintenance all in one, field service agents can be assigned, deployed and managed on the same underlying customer service management platform that created and managed the customer incident. Organizations can streamline resource management and empower technicians with job details, customer information, and parts required to maximize effectiveness and deliver great customer experiences.

Industry

The company offers industry solutions to address the unique needs for specific industries, including banking, insurance, telecommunications, technology, healthcare, life sciences, manufacturing and the global public sector. The company expects the number of industry-specific solutions to grow as it gains adoption in new industries.

With Telecom Service Management, Order Management for Telecom, Network Inventory Management, and Telecom Service Operations Management, customers can streamline service experiences to maximize investments, scale their order management process, launch services quickly, enhance customer care, automate service assurance, gain real-time data visibility and optimize their network management on a single platform.

With Healthcare and Life Sciences Service Management and Clinical Device Management, customers can offer consumer-grade experiences, enhance patient care, unlock productivity, streamline operations and efficiently manage and service clinical devices.

With Technology Provider Service Management and Order Management for Technology Providers, service providers can help customer and operations teams work together to accelerate speed to market for new solutions and reduce costs while delivering a seamless experience.

With Manufacturing Connected Workforce and Operational Technology Management, customers can empower their workforce with digital tools and knowledge to improve efficiency and create a single system of action for their operational environment, improve uptime and drive outcomes across their operations.

With Financial Services Operations, banking and insurance customers can unite their front, middle and back offices to improve customer and employee experiences while reducing operating costs.

With Public Sector Digital Services, public sector customers of all sizes can build a seamless experience to increase trust, empathy and transparency between government agencies and constituents, and connect government agencies with each other on a single digital platform.

Employee Workflows

The company’s Employee Workflows transform the employee experience by making it easier for them to work and collaborate where and how they want, improving productivity, agility and performance. Employee Workflows products also help customers unlock skills and capabilities of their workforce by being more efficient with their employee resources, staffing and delivery services, increasing the company’s customers’ ability to streamline and gain visibility into employee lifecycle events.

HR Service Delivery

The company’s HR (Human Resources) Service Delivery product helps organizations manage employee requests by defining, structuring, consolidating, managing and automating HR services. HR Service Delivery capabilities include HR case management, employee self-service, manager experiences, knowledge management and management of employee lifecycle events across multiple departments, such as onboarding, transfers and off-boarding.

Now Assist for HR Service Delivery, a generative AI solution, helps HR leaders drive productivity and operational efficiency, reduces redundant, manual tasks for HR teams, and gets employees the answers they need quickly. From payroll discrepancies to employee information updates, HR managers can resolve a range of issues quickly by reviewing instant summaries of case topics, previous history of live chat and Virtual Agent interactions, prior resolutions and actions taken.

Legal Service Delivery

The company’s Legal Service Delivery product helps corporate legal teams modernize internal legal operations to manage legal requests across the enterprise. With Legal Service Delivery, legal teams can deliver support efficiently by deploying specialized practice area workflows, utilizing automated responses and getting insight into demand with real-time reporting and dashboards.

Workplace Service Delivery

The company’s Workplace Service Delivery product helps organizations manage workplace services, facilities and real estate. With Workplace Service Delivery, companies can optimize their workspace with real-time analytics and indoor mapping capabilities, and can automate workplace requests, reservations and repairs, and track health and safety incidents to keep workplaces running smoothly.

Creator & Other Workflows

Creator Workflows help customers build and manage cross-enterprise workflows fast with a low-code development experience that safely delivers agile services at scale and with features, such as those that allow customers to manage security and storage. As organizations digitally transform, they need to adapt faster with new processes and business models. This requires faster, more agile execution with more automation delivered throughout an organization’s business processes. With Creator Workflows, citizen developers have access to pre-built templates, low-code tools and modular building blocks created by professional developers. The company enables Creator Workflows through App Engine and Automation Engine, among other products. To help customers in key business functions, it also enables Other Workflows through Platform Privacy and Security and Source-to-Pay Operations, among other products.

With Now Assist for Creator, a generative AI solution, development teams can create and scale apps more quickly on the Now Platform. Trained on code from ServiceNow engineering, results generated with Now Assist for Creator are generally higher quality and more scalable and secure than any other code generation technology. This solution includes the general availability of text-to-code, which converts natural language text into high-quality code suggestions, and in some cases into complete code, enabling faster development and increased productivity.

App Engine

The company’s App Engine product empowers its customers’ employees to create enterprise-class workflows using low-code and no-code development tooling and does not require formal coding experience. App Engine delivers intuitive and intelligent development experiences, designed for speed, security and scale. Examples of the types of workflows its customers have developed using App Engine include:

An application for a retailer to manage the workflow for loss prevention, fraud protection and asset protection in retail locations;

An application to manage licensing, contracting and compliance examinations and financial reviews, replacing a months-long, manual process with a 30-minute automated process;

An application to automate the manual processing of billable invoices, reducing processing time from days to minutes; and

An application to provide overnight loans in different currencies for central banks.

Automation Engine

The company’s Automation Engine product helps workflows integrate by connecting or automating systems, documents or tasks with minimal code. Manual work can be eliminated by leveraging robotic process automation and intelligent document processing capabilities. Automation Engine includes process mining capabilities that can uncover trends and patterns in business processes and help eliminate redundancies, drive process optimization, along with cost and productivity efficiencies.

Platform Privacy and Security

The company’s Platform Privacy and Security product provides premium security and privacy controls to help ServiceNow customers protect and control their sensitive data in the cloud.

Source-to-Pay Operations

The company’s Source-to-Pay Operations suite connects to customers’ existing enterprise resource planning (ERP) systems and provides a source-to-pay workflow automation solution that enables procurement departments to create a unified work experience across teams. It enables organizations to do more with their existing procurement teams and to further scale without dramatically increasing staff.

Customer Success, Support and Professional Services

Impact

ServiceNow Impact helps the company’s customers accelerate the value they realize with its products and solutions. It provides customers AI-based software tools that offer customers recommendations to proactively monitor platform health and allow customers to track metrics of value to them. Impact customers also have access to a team of on-demand experts, training and other services.

Professional Services

The company’s Professional Services are offered by ServiceNow alone and in a co-delivery model with its network of partners to help customers maximize the value of their ServiceNow investment. The company’s Professional Services include process design, implementation, configuration, architecture and optimization services. With its prescriptive methodology as the foundation for customer success, the company’s services bring together its experts and leading practices enabling its customers to create value and drive customer outcomes as they embark on enterprise digital transformations through the use of its platform. The company’s training services include programs for all of its products.

Customer Support

Customers receive standard and enhanced support from technical resources located around the globe. The company offers customer support on a subscription-based model, and it offers self-service technical support through its support portal, which provides access to documentation, knowledge base articles, online training, online support forums and online case creation.

Technology and Operations

The company operates a multi-instance architecture that provides each customer with its own dedicated application logic and databases. This architecture is designed to deliver high-availability, scalability, performance, security and control. The company’s cloud infrastructure primarily consists of industry-standard servers, networks and storage components. The company hosts its full software-as-a-service (SaaS) experience on its own private cloud and use public cloud service providers for customers that are primarily in highly regulated markets or at their request.

The company’s data centers operate in paired configurations to enable replication for high-availability and redundancy. The company operates data centers in North America, South America, Europe, Asia and Australia, and it continuously evaluates its data center operations and capacity in existing and new geographies.

The company offers customers the option to deploy its services on dedicated hardware in its data centers. The company’s architecture also gives it the added flexibility to allow customers the option of deploying its services internally in their own data centers or under contract with a third party to host the software in order to support unique regulatory or security requirements. While there are some limitations on agility and flexibility as compared to its cloud offering, a minority of the company’s customers have elected the third-party alternative. The standard and enhanced customer support the company provides for self-hosted customers is similar to the support it provides to customers deployed in its managed data centers.

Sales and Marketing

The company markets and sells its products and services to enterprises across industries, including government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education and consumer products. The company sells its product offerings and services through subscription services primarily through its global direct sales organization. The company also sells services through managed service providers and resale partners.

The company’s marketing efforts and lead generation activities consist primarily of customer referrals, digital advertising (including via its website), trade shows, industry events, brand campaigns and press releases. The company also hosts its annual Knowledge user conference, webinars and other user forums, including regional forums, which it calls World Forums, where customers and partners both participate in and presents on a variety of programs designed to educate them on industry best practices and help accelerate their success.

The company continue to expand its sales capabilities in new geographies, including through investments in direct and indirect sales channels, professional services capabilities, customer support resources, post-sales customer support resources, strategic alliances and partnerships, implementation partners and advisory councils. The company also plans to increase its investment in its existing locations in order to achieve scale efficiencies in its sales and marketing efforts.

Partner Ecosystem

In addition to its global direct sales organization, the company also has a strong and growing ecosystem of partners that helps accelerate its customers’ digital transformation initiatives and deliver customer value at scale. The company’s partners play a critical role in helping companies digitally transform their businesses. The company’s industry and workflow capabilities paired with its partners’ industry and functional domain experience help customers of all sizes. Together with its partners, the company offers industry and domain-focused solutions at scale and is accelerating digital transformation as it helps companies drive new approaches in engaging their end users and employees.

The company is seeing continued momentum across the partner ecosystem. The company has established several foundational partnerships in 2023. For example, one of these partnerships is with NVIDIA, with which the company plans to develop powerful, enterprise-grade generative AI capabilities to transform business processes with faster, more intelligent workflow automation. The company also has extended its relationships with a number of partners to enhance generative AI capabilities, including, among others, Accenture, Deloitte, EY, KPMG and Cognizant.

Customers

The company sells its services to large enterprise customers, and it hosts and supports large, enterprise-wide deployments for its customers. As of December 31, 2023, the company had over 8,100 customers. Its customers operate in a variety of industries, including government, financial services, healthcare, manufacturing, IT services, technology, oil and gas, telecommunications, education and consumer products. The portion of the company’s revenues generated by sales to government customers has also increased over time.

Intellectual Property

As of December 31, 2023, the company had over 2,000 U.S. and foreign patents, including patents acquired from third parties, and over 600 pending patent applications.

History

ServiceNow, Inc. was founded in 2004. The company was incorporated in California in 2012.