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SERVICENOW, INC.

(NOW)
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Thirdera Uses Servicenow Completes A Study of It, Business and Financial Operations

07/15/2021 | 08:00am EDT

Thirdera using ServiceNow, has completed a study of IT, business and financial operations professionals in large and midsize companies. The purpose of the study was to understand the extent to which workers in these fields are using modern technology tools such as AI, self-service portals and chatbots, and the impact these tools are having on their work. At least 150 Managers or above in companies with at least 500 employees participated in the study, which was conducted in June by PureSpectrum. The study found that the vast majority (83%) of workers in these fields are using the following technologies daily: AI-powered search, chatbots, self-service portals, mobile apps, AIOps, business intelligence and dynamic scheduling tools. And nearly half (46%) have been doing so for at least a year. The most common systems with which these tools are being used are: IT Service Management platforms (68%), IT Operations Management platforms (57%) and Financial Management platforms (37%). They’re also being used with CRM, ERP, HR and Marketing Automation platforms. Within this tools category, the most popular technologies are mobile apps (used by 69% of respondents), business intelligence tools (65%), self-service portals (53%), AI-powered search (44%), intelligent chatbots (36%) and dynamic scheduling tools (36%). Going into the study, Thirdera presumed that respondents to its survey would claim the above tools were having a positive impact on productivity, and the premise was borne out by the survey’s results. 69% of workers responding to Thirdera’s survey said their productivity increased substantially by using these technologies. 40% reported saving at least six hours per week, and 67% are saving at least four hours per week. Meanwhile, 34% said ROI from the use of these tools was achieved in less than three months, 41% said 3-6 months, and 89% achieved ROI in less than a year. 48% of respondents have at least a half dozen business processes attached to the use of these technologies. While it’s no wonder that office workers like tools that make their jobs easier, it’s not a given that every company has a workflow automation strategy – or wants one. According to Thirdera’s research, 35% of respondents felt their organization’s approach to “service management” – defined as the process by which employees in IT, business and financial operations respond to requests from colleagues or customers – was outdated or a little “behind the times,” suggesting that the use of modern tech tools have a ways to go before they reach an inflection point. Furthermore, 48% of respondents said the technologies were too expensive, and 38% said the colleagues and/or customers they’re serving with these technologies would prefer more human-to-human contact. Also, 32% said the tools malfunction frequently, and 26% said they’re hard to learn. Perhaps most concerning: 63% of respondents said they are concerned their company's use of these technologies will someday make their job functions less relevant.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 5 838 M - -
Net income 2021 230 M - -
Net cash 2021 2 581 M - -
P/E ratio 2021 565x
Yield 2021 -
Capitalization 129 B 129 B -
EV / Sales 2021 21,6x
EV / Sales 2022 17,0x
Nbr of Employees 13 096
Free-Float 99,6%
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Mean consensus BUY
Number of Analysts 32
Last Close Price 648,73 $
Average target price 670,69 $
Spread / Average Target 3,39%
EPS Revisions
Managers and Directors
William R. McDermott President, Chief Executive Officer & Director
Gina M. Mastantuono Chief Financial Officer
Frederic B. Luddy Chairman
Chris Bedi Chief Information Officer
Chirantan C. J. Desai Chief Product & Engineering Officer
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