Lionel Sujay Vailshery
Research expert covering cloud computing and emerging tech industries
The ServiceNow business strategy is centered on selling cloud computing software as a service (SaaS), aiding the digital transformation of an enterprise. It entails putting in place systems to define, administer, automate, and structure business services. ServiceNow users will find the software valuable in various areas, including security, operations, customer support, HR, and others. The company's product suite also includes software for managing service-level projects and production instances within a department, and tools for physical and cloud-based IT needs. With an extensive portfolio of software resources made available on the cloud, ServiceNow is a leader among some of the largest cloud vendors worldwide.
As a result of several acquisition transactions, ServiceNow has grown to become the go-to firm for digital workflow automation. In the last year, the company has acquired, among others, Element AI, Lightstep, Gekkobrain, Swarm64, and Mapwize. These strategic acquisitions will help ServiceNow increase its competitive edge and assert its market dominance. Some of the biggest competitors of ServiceNow are Salesforce, Zendesk, Oracle, Jira, and Workday. All the mentioned companies provide enterprise solutions as a service and look to leverage artificial intelligence (AI) into their services to improve their automation capabilities. Salesforce, unlike ServiceNow, has a one-stop solution for process automation with its integrated platform. Hence, we will see ServiceNow acquiring many more companies in the future to become a one-stop solution like Salesforce.
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