Andrew Willis: It’s hard to imagine a situation where IT support for extensive computer networks is more in demand. With both workers and customers stuck at home today, human resources systems and customer service software have become critical.
Many companies need to upgrade their systems at short notice – shining a spotlight on larger technology problems after the pandemic. Senior equity analyst Dan Romanoff said we often see corporate IT infrastructures being exposed as inadequate for the current remote environment.
And for future environments, ServiceNow (NOW) has also found a market for specific verticals, such as the communications sector, for example. For investors, that means growth opportunities-and changing costs that will help build a moat on each of those thousands. annual contracts, in the millions.
For Morningstar, I’m Andrew Willis.
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