Companies of all sizes and industries are struggling to navigate high inflation and economic instability, and they are making tough decisions to save money. Aside from cutting jobs, these organizations need to increase their automation, speed, and productivity — and do more with less, essentially. These insights inspire optimism for Bill McDermott, CEO of ServiceNow, seeing his company’s platform as a win-win for its current and potential customers as an end-to-end digital transformation solution. It can provide both “cost out and growth in,” according to the CEO.
For McDermott, ServiceNow’s end-to-end solutions are rooted in its beginnings as an IT service and management company, its evolution into operations security, and its focus on employee experience. He cites the company’s relationship with the United States Army, which uses ServiceNow’s solutions to accelerate digital transformation and productivity. He also notes that organizations need to create their own applications, which is made easier by using a low-code platform such as ServiceNow.
These factors, as well as the company’s capabilities to support different types of technology solutions, have McDermott bullish about its growth in 2023. In ServiceNow’s January 2023 earnings call, the CEO reported 126 deals worth more than $1 million in Q4, including its largest deals in Latin America and EMEA. His confidence is strong enough to provide “very strong guidance for 2023.”