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ServiceNow CEO Bill McDermott: ‘We’re In A Market Of One’
Joseph F. Kovar
McDermott says his company is the workflow automation market leader, one that is on its way to becoming a $15 billion SaaS powerhouse by building a “platform of platforms.”
What is ServiceNow? How do you define it?
ServiceNow is the workflow automation market leader. Essentially, it’s a platform company, and we enable businesses to truly work differently and work better. There are numerous examples that I can give you of that, but workflow automation market leader would be the platform story behind ServiceNow.
Who are your primary competitors?
ServiceNow is in a market segment of one. We are the company that realized you had to make work better for people. Because if you look at the systems of record and the various changes that came about in the enterprise in the prior century, everything was very siloed. There were different systems for HR, for CRM, for financials, for data and analytics. And what happened is we have all of these islands of automation in the enterprise, and many of them were in the customer’s own data center or in early stage cloud companies.
[ServiceNow in 2004] created a platform that enabled companies to manage their IT and really think of IT as the business strategy for a company. How do I service the business? How do I manage my assets? How do I manage operations? How do I keep my operations secure? That really became like a control tower. And on the employee side, it became how do I make sure my employees have a consumer-grade great experience by accessing all the services they need to do their job. We were the company that automated that process. ...
The reason we’re in a market of one is we invented a platform that enables IT, the employee experience, the customer experience, and the creator experience to happen on one platform with one architectural design that’s pure-play in the cloud, that operates at a consumer grade, and it scales with the biggest companies in all industries and geographies in the world. That is a segment of one corporation.