Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
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00:35 — ServiceNow is seeing very strong, continuous growth heading through 2023. Bob “takes a look” into why ServiceNow and the company’s CEO, Bill McDermott, are so bullish on the prospects for the coming year.
01:01 — As McDermott was talking broadly about customers, he noted the company is in the middle of a “great reprioritization.” Now, for customers, the five big keys are:
- Great customer experiences
- Significant business impact that is immediately realized
01:29 — Additionally, McDermott stated that ServiceNow is offering very strong guidance for revenue growth in 2023. Bob says the company’s CFO projected that the revenue growth will come between 22.5% and 23.5%.
01:48 — For the quarter that ended Dec. 31, ServiceNow reported that it closed 126 deals of $1 million or more.
02:00 — McDermott said that “we’re in the middle of what is now a platform economy.” He used this term to reflect the notion that businesses are now not only buying applications from big software companies but also creating massive numbers of applications. McDermott said he believes there will be more than 750 million applications created in the next two years.
03:01 — Bob thinks this commentary from McDermott represents how ServiceNow is really standing out from most of the other Cloud Wars Top 10 companies in its bullish outlook for what’s coming up.
04:03 — The ServiceNow platform can effectively help customers keep non-essential costs down while leveraging growth opportunities in the long term.