ServiceNow's Now Platform is getting a shot in the arm through the company's acquisition of Software-as-a-Service startup VendorHawk.
VendorHawk's technology optimizes customer SaaS usage, provides transparency and aims to help customers' digital transformation initiatives. ServiceNow will integrate the Seattle-based startup's technology inside its Now Platform.
"Adding VendorHawk's capabilities to our Software Asset Management service strengthens ServiceNow's unique value, bringing together essential capabilities into a single, comprehensive platform that greatly improves efficiency while still supporting the employee experience," said Farrell Hough, general manager, ServiceNow, in a statement. "Having a real‑time view of all software assets is critical for our customers to consciously rationalize and optimize software spend as they digitally transform."
Financial terms of the deal were not disclosed.
VendorHawk's cloud system helps customers discover, rationalize and optimize SaaS subscriptions across their organization. VendorHawk, founded in 2016, has broad support for over 36,000 SaaS applications to manage spending and map redundant applications. The startup also analyzes application utilization and optimizes SaaS subscriptions for top applications such as Salesforce, Box and Google G‑Suite, according to a statement.
ServiceNow will leverage VendorHawk's technology to rapidly expand its capabilities in software asset management by providing transparency into software license utilization and costs, according to the company.
The Now Platform uses a single data model to simplify the creation of contextual workflows and the automation of business processes. The platforms' Intelligent Automation Engine combines machine learning with automated actions to reduce costs and speed time to resolution. The Now Platform has implemented functionality that has made ServiceNow a more attractive supplier of a low-code development platform to its large existing base of enterprise customers, according to the company.