Bill McDermott, Chairman and CEO of ServiceNow, discusses leading a successful tech company, the future of AI, and his entrepreneurial background. They also touch on ServiceNow's impact and the role of technology in the economy. McDermott shares his motivation for change, overcoming loss, and achieving success.
Bill McDermott focused on scaling ServiceNow effectively, leading to significant growth and success.
McDermott's approach of playing the long game and anticipating future trends contributed to ServiceNow's continuous innovation and staying at the forefront of technology.
Deep dives
Bill McDermott's Move to ServiceNow
Bill McDermott, the former CEO of SAP, surprised the business world by stepping down and joining ServiceNow, a smaller company. McDermott saw the potential in ServiceNow to drive productivity and work in the technology industry. With his background, he believed he could scale the company effectively. ServiceNow started as an IT backbone for companies to manage their operations digitally, but it expanded to include employee experience and hybrid work solutions.
ServiceNow's Impressive Growth
Under Bill McDermott's leadership, ServiceNow experienced significant growth. Over a two-year period, the company doubled in value, doubled its number of employees, and more than doubled its revenues. The company's innovative platform for digital transformation and collaboration attracted new customers and helped improve productivity and cost savings for existing clients. McDermott's focus on building a globally recognized software market leader and his emphasis on customer-centricity contributed to the success.
The Power of Long-Term Thinking
Throughout his career, Bill McDermott realized the importance of playing the long game. He believes that people often overestimate what they can achieve in the short term and underestimate their potential in the long term. McDermott's approach has been to think ahead and anticipate future trends and challenges. He strives to invent the future rather than copy others, ensuring ServiceNow remains at the forefront of technology and continuous innovation.
ServiceNow Chairman and CEO Bill McDermott talks about what it takes to lead a successful technology company, the future of AI and his entrepreneurial teenage years. He speaks on "The David Rubenstein Show: Peer-to-Peer Conversations." This interview was recorded August 7 in New York.