ServiceNow
Overview
ServiceNow, Inc. (NYSE: NOW) is a leading American software company based in Santa Clara, California. Founded in 2003, the company develops a cloud computing platform designed to help enterprises manage digital workflows and optimize business operations. ServiceNow is recognised for its innovative solutions that enhance efficiency and agility, facilitating smarter and faster business operations.
Key Details
- Industry: Software Development
- Company Size: Over 22,668 employees (as of December 2023)
- Headquarters: Santa Clara, CA, USA
- Type: Public Company
- Stock Information: Traded on NYSE under the ticker NOW; as of October 2, 2024, the stock price stands at $876.70.
- Founders: Fred Luddy, David Loo, Don Goodliffe, Bow Ruggeri, Patrick Casey
Financial Performance
- Revenue (2023): $8.97 billion
- Operating Income (2023): $762 million
- Net Income (2023): $1.73 billion
- Total Assets (2023): $17.4 billion
- Total Equity (2023): $7.63 billion
Platform and Products
ServiceNow's core offerings revolve around its Now Platform, which provides comprehensive solutions for IT service management, enterprise cloud operations, customer service management, HR service delivery, and security operations. Key products include:
- Now Platform
- ServiceNow AppEngine (for low-code development)
- Business Process Management Software
Global Presence and Locations
ServiceNow maintains significant global operations, with key locations including:
- Santa Clara, CA (Headquarters)
- Sydney, Australia
- Melbourne, Australia
- Staines, UK
Notable Corporate Activity
- CEO: Bill McDermott (since October 2019)
- Recent Acquisitions: Includes high-profile companies such as AI startup Parlo, data analytics firm FriendlyData, and AI-powered platform G2K.
- AI and Innovation: ServiceNow is actively advancing in artificial intelligence through partnerships, such as with Nvidia, and product releases like the Xanadu AI platform, enhancing generative AI and business transformation capabilities.
Leadership
- Bill McDermott: Chairman and CEO
- Extensive experience in enterprise software, having previously led SAP SE.
- Chris Bedi: Chief Customer Officer, dedicated to enhancing customer value and experience.
- Jacqui Canney: Chief People Officer, focused on employee growth and organizational development.
Recent Developments
ServiceNow continues to excel in the tech industry, marked by:
- Launching the AI platform Xanadu, aimed at amplifying speed and scalability for enterprises.
- Forming significant partnerships to bring advanced AI services tailored for business needs.
- Maintaining a robust acquisition strategy to integrate new capabilities and expand market presence.
For more in-depth information, please visit the official website: [ServiceNow](https://www.servicenow.com).
Key Competitors
BMC Helix
- Overview: BMC Helix is considered a direct competitor to ServiceNow, providing extensive ITSM and ITOM capabilities, including service desk management, incident management, and asset management.
- Pros: Highly rated for AI and machine learning capabilities, ease of use, and strong collaboration tools.
- Cons: Some issues with customization and a relatively dated UI.
- Pricing: Custom-based, similar range to ServiceNow.
Jira Service Desk (Now Jira Service Management)
- Overview: Atlassian’s ITSM tool focusing on service desk management, task management, bug tracking, and software release handling.
- Pros: Sleek user experience, native automation features, self-service portals, and extensive integration with Atlassian's ecosystem.
- Cons: Steep learning curve for non-technical users and occasional performance issues with a high number of open tickets.
- Pricing: Transparent, billed per agent/month. Standard tier at $17.65 per agent/month for 75 agents.
Salesforce Service Cloud
- Overview: A CRM platform extending into ITSM market, focusing on service management, end-user support, and asset management.
- Pros: Strong integration with Salesforce ecosystem and third-party platforms, highly customizable for developers.
- Cons: Not fully optimized for ITSM, requires substantial configuration for basic tasks, and is wholly cloud-based.
- Pricing: Various tiers: Starter at $25, Professional at $80, Enterprise at $165, Unlimited at $330 per user/month.
Freshdesk
- Overview: A cloud-based service desk and ticketing platform.
- Pros: Easy setup, strong out-of-the-box capabilities, and advanced AI features for ticket categorization and triaging.
- Cons: Narrower scope compared to ServiceNow and less flexibility in UI customization.
- Pricing: Affordable with tiers including a free tier for up to 10 service agents. Paid tiers: Growth ($12), Pro ($35), and Enterprise ($60) per agent/month.
Zendesk
- Overview: Focused on service desk and ticketing, particularly strong in communications and omni-channel support.
- Pros: Impressive built-in routing logic, extensive marketplace for plug-ins, and powerful self-service features.
- Cons: High licensing costs and limited UI customization.
- Pricing: Tiers: Team ($15), Professional ($45), and Enterprise ($89) per agent/month, with potential additional costs for specific features.
Functional Capabilities and Use-Cases of Competitors
- BMC Helix and ServiceNow: Comprehensive ITSM and ITOM platforms suitable for large enterprises requiring a wide range of functionalities.
- Jira Service Desk/Management: Ideal for IT and software development teams focused on managing service requests, incidents, and changes with seamless integrations to other Atlassian products.
- Salesforce Service Cloud: Best for organizations already using Salesforce, extending CRM functionalities to IT service management.
- Freshdesk: Suitable for SMEs needing straightforward service desk and ticketing solutions with minimal configuration.
- Zendesk: Optimal for organizations prioritizing customer service and omni-channel support.
Open-source vs Closed-source
- Closed-source: ServiceNow, BMC Helix, Jira Service Management, Salesforce Service Cloud, Freshdesk, Zendesk.
- Open-source: Budibase, offering an open-source, low-code platform for building custom ITSM tools.
