As the ServiceNow 2021 User Conference draws to a close, I think it might be helpful to assess the opportunities and challenges facing digital workflow providers, perhaps (if I can indulge) some advice from an outsider’s perspective.
There is no doubt that under the leadership of Bill McDermott, ServiceNow is very confident of its position in the market, and COVID-19 has accelerated its path to widespread adoption in the enterprise. But this does not mean that the realization of its ambitions is a matter of course. Concentration is essential, and communicating a clear and persuasive strategy will be very beneficial.
It’s worth checking out our report on Knowledge 2021 at the diginomica event center to learn more about ServiceNow’s positioning this year-but the key point is that McDermott aims to achieve $15 billion in revenue in the next five years (three times the current ARR) ) And ServiceNow refocus on verticalization.
As mentioned above, COVID-19 really highlights the importance of “digital workflow” in enterprises. The company now understands that work cannot be confined to the four walls of the office, and to make work flow in the enterprise—between employees and with customers—it requires cross-integration between systems, focusing on organizing data and designing the experience The thoughtful approach.
In the past few weeks, we have seen evidence of this in various use cases. From Levi Strauss using virtual agents to support help desk staff, to Bristol Myers Squibb rethinking the onboarding experience of its global new hires. This year’s customer story does illustrate a lot of what I have been calling for in previous years: Explain what the workflow really means to potential buyers.
However, some work still needs to be done to fully construct the diagram for those who are not so proficient in “the power of workflow.”
The power of the Now platform
In Bill McDermott’s key speech to Knowledge this year, he commented that the power of the Now platform means that customers can build any workflow they need. He also mentioned the work of ServiceNow engineers in the past 18 months, during which they “doubled” the functionality of the platform.
ServiceNow customers have presented a variety of use cases time and time again and demonstrated how the platform can support everything from managing vaccinations to supporting customer service operations. The whole mantra of ServiceNow is to make work work better for people-the number of customer cases in the past two weeks shows great support for suppliers.
However, the challenge with this is that if they are just starting their workflow journey, the breadth of the scope may make people feel overwhelmed by the opportunities available. ServiceNow’s message that “anything can be done in terms of workflow” may be correct, but it may not be the exact message that people need to hear at this particular moment.
It is worth remembering that in the past 18 months, buyers have had to deal with tremendous pressure. Many people have entered the rapid response mode at the beginning of the pandemic. They are only now starting to take trees from trees and consider their mid- and long-term strategies when considering the future prospects of their work.
I think ServiceNow should not always take a broad route, but should focus on specific guidance and capabilities. Companies need to lend a helping hand, and most people not only like to see the oasis, but also like to see the road leading there.
This is not to say that the McDermott and ServiceNow teams simply don’t do this. We have seen evidence of it, but I believe it will further benefit suppliers. This will become even more important when it pursues a new vertical strategy, because if the sales company does not understand the specific needs of the vertical industry, buyers seeking industry solutions will quickly understand this.
Show ServiceNow’get it’
To be clear, what I want to see from ServiceNow is that it showcases an accessible blueprint for success in various use cases, including industry solutions. I hope it advocates a design-led approach to achieve experience-centric results and build internal capabilities to show customers how to achieve their goals. I want to see it cultivate internal talent from specific verticals of interest, so that when we talk about healthcare or manufacturing with ServiceNow, the insight is the best in its class.
Want to know how to create a loan workflow for customers in the financial sector? This is where and how it looks. Want to better understand how to use virtual agents to support customers and help desk employees? These are the best practices in your industry. Suffering from data complexity? This is a route map to help you get where you need to go.
Of course, all of this information already exists in ServiceNow, but I think it’s good for the supplier to put some of it in the front and center. Buyers who want to change quickly are at a point when they have a bit of understanding of what needs to happen, but they need clear details and help them achieve their goals.
For ServiceNow, as a supplier involving many aspects of the company and employee/customer experience, this requires being an expert in all aspects from technical functions to user-led design to change management. The complexity currently facing buyers is unbelievable-but if ServiceNow can become an expert in important fields and support their customers in achieving their ultimate goals, the platform’s proliferation in global enterprises may be rapid. knowledge is power.
My point of view
These are not criticisms of what ServiceNow is doing. In addition, I am very willing to give my two cents to those who have decades of experience and know what they are talking about. ServiceNow is clearly in a strong position, and I was told that its current growth plan is “conservative.”
Having said that, it needs to be acknowledged that buyers are at a turning point and many of them have not yet fully understood the conditions required to achieve a state that reflects the revolutionary vision of ServiceNow’s workflow. They need to help build the skills, abilities, and knowledge of how to get there. As mentioned above, ServiceNow needs to provide a blueprint for the journey. Practical advice and a clear understanding of what is happening “on the ground” as well as extensive and open discussions will put ServiceNow in a good position.
Customer success requires continuous support. I really believe that buyers are looking for suppliers who can clearly articulate what needs to be done, and can provide resources and knowledge sharing at any time. The technology is very powerful, and we know that now ServiceNow needs to be the supplier that provides all the practical answers.
For more diginomica stories about Knowledge 2021, please visit our Knowledge 2021 Event Center. Knowledge 2021 will open on May 11, and the conference can be viewed on demand until October 2021. This is the event registration link.
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