ServiceNow Partner, Nicus: Financial Intelligence Layer for Enterprise Tech

In today's Cloud Wars Minute, I explore how ServiceNow and Nicus Software are teaming up to deliver a financial intelligence layer that helps enterprises optimize their cloud, AI, and IT spending by unifying data across finance, IT, and business units.

Highlights

00:08 — ServiceNow is working with a partner, Nicus, to deliver a financial intelligence layer for enterprise tech. Interesting angle here: It's trying not just to consolidate the numbers, but to go beyond that. It involves multiple parts of the organization working in concert to really get not only the best data but also the ability to act on it.

00:34 — Tom Smith had a conversation with Ron Wastal, the Chief Ecosystem and Partner Officer at Nycus. Wastal described how this works for companies. It's in the category of Technology Business Management, but goes beyond that. Nicus is trying to bring financial teams, IT teams, engineering, and lines of business together to share this intelligence and collaborate.

01:22 — Again, this isn’t just about saying, “Hey, here’s how much is going on.” It’s about answering: Where is it happening? Why is it happening? How is it contributing or not contributing to business outcomes? That way, they can optimize the substantial dollars being poured into cloud and AI spending. These optimizations can really add up.

02:11 — Why ServiceNow in particular? Why did Nicus want to work with them? Ron explained that the IT data for many big companies lives in ServiceNow databases. That’s where they can find out what’s really going on. Tapping into those massive data stores allows them to have a huge impact.

02:38 — What Nicus does is put a financial intelligence layer on top of that IT data to enable a cycle of understanding, tracking, and optimizing IT spend. It's also leveraging ServiceNow’s unique workflows and cutting-edge AI capabilities to take action on these insights. That’s the difference Nycus sees in what it does versus others.

03:13 — Nicus has developed two specific applications—one for costing and one for planning. These apps are used across the platform to deliver a comprehensive picture of what’s going on. This is another example of how ServiceNow is working with world-class partners and ISVs to deliver great business outcomes for customers.

This episode is sponsored by ServiceNow.

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