ServiceNow CEO Bill McDermott Eyes Defining Enterprise Software of the Future

As tech companies take the brunt of a market downturn, Bill McDermott, Chief Executive Officer of ServiceNow, is focusing on potential growth opportunities. He has even gone so far as to predict that ServiceNow is poised to become a “defining enterprise software company” of the century—an audacious claim for a venture competing against Oracle and SAP. However, those competitors may be hindered by legacy systems, putting McDermott’s cloud-based enterprise resource management business in a position to thrive.

McDermott’s case is buoyed by ServiceNow’s recent deal with BT—the U.K.-based telecom giant—to replace 56 legacy applications and 76 different ways of implementing service processes with a single ServiceNow platform. BT forecasts about $30 million in savings over five years thanks to the project, and McDermott believes seeing these savings will inspire potential clients to make the switch to ServiceNow as well.

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The executive is also attempting to convince potential clients with ties to legacy infrastructures that they still need ServiceNow’s products. As a former CEO of SAP, his insight into both companies should give him the credibility he needs to make his argument.