In this vendor ranking segment from the Acceleration Economy course The Cloud Wars Top 10: How It Works, Why It Has Shifted, & How CXOs Use It, I share what differentiates ServiceNow, which has recently jumped from #10 to #6 in the Cloud Wars Top 10 ranking.
This episode is sponsored by Acceleration Economy’s “Cloud Wars Top 10 Course,” which explains how Bob Evans builds and updates the Cloud Wars Top 10 ranking, as well as how C-suite executives use the list to inform strategic cloud purchase decisions. The course is available today.
ServiceNow has earned respect as an IT service management company that helps companies automate their IT organizations. But when CEO Bill McDermott arrived in 2019, he started expanding that model into areas including customer service, cybersecurity, HR, and most recently, enterprise resource planning (ERP) in supply chain and financials. Because of these and other differentiating factors, ServiceNow has leaped from #10 to #6 in the latest Cloud Wars Top 10 rankings, making it the biggest mover in our rankings. Some key takeaways from this video:
- With the rise of generative artificial intelligence (AI), the cloud is morphing from a productivity cloud to an innovation cloud. Companies are now asking what they can do with the data from generative AI: Can they build new products, get closer to customers, and be smarter, faster-moving, more opportunistic businesses?
- The company is not forcing customers to choose between it and Oracle, SAP, or another competitor.
- Since Bill McDermott’s arrival, ServiceNow has been acquiring AI companies to enhance their services and technology. This calculated strategy is one of the reasons ServiceNow made the huge jump from #10 to #6 on the Cloud Wars Top 10.
- Over the last three months in the Cloud Confidence Index, ServiceNow’s market cap went up 32.2%, one of the highest in terms of percentage growth.
- Another factor in its growth is that ServiceNow got into the low-code/no-code movement pretty early, making acquisitions that aligned with its services offerings. Low-code/no-code makes it easier for organizations to get things done without needing a hard-core coder to develop something brand new.
I recommend that ServiceNow combine its powerful AI technology with industry-specific products. ServiceNow wants to be known as the intelligent platform for digital transformation, but I think soon that will become the intelligent platform for digital business.