ServiceNow FY21 Q1 Earnings: Key Takeaways for Enterprise Customers

ServiceNow had another strong quarter, exceeding high end revenue guidance and Wall Street estimates. On top of that, they now have over 1,100 customers paying over $1M per year, which represents an impressive 23% growth from last year. ServiceNow’s goal is clearly to expand customers’ portfolios and for net new customers to start out with as many products as possible from as many of their “workflows” as possible. This includes its IT Workflows product set (ITSM, ITOM, ITBM, GRC (now IRM), and Security Operations, etc.), their Customer & Employee Workflows (CSM, Field Service Management, HR Service Delivery, etc.) and their Creator Workflows. To accomplish this, they are using the “better together” solutions pitch which seems to be working. In this podcast, ServiceNow Practice Leader, Adam Mansfield, discusses where ServiceNow will focus moving forward and the tactics they will deploy to reach their $10B revenue target. He also shares how enterprise customers could potentially take advantage of key insights from the earnings call in their upcoming ServiceNow negotiations and renewals. Host: Adam Mansfield: https://bit.ly/3rPGp8r ServiceNow Commercial Advisory Services: https://bit.ly/3ls6VDt