Economic instability is taking its toll on businesses everywhere, and much of the tech sector is reeling from lower-than-expected revenues and stock market volatility. However, ServiceNow seems to be navigating the storm better than others in the B2B software market, reporting 29% year-over-year revenue growth in Q3 2022 — beating expectations and sending its stock surging.
The company’s Chief Strategy and Corporate Affairs Officer Nick Tzitzon has advice for ServiceNow’s peers: focus on business fundamentals first before the technology, identify what would really make a difference, and focus on customer service.
Much of ServiceNow’s success can be attributed to working closely with its customers, meeting them where they are, and providing quick value from the use of its platform. Now, the company is eyeing opportunities in the enterprise resource planning (ERP) realm, with the goal of helping customers modernize and migrate to cloud environments.
For Tzitzon, it’s crucial for companies to focus on clients’ wants and needs first. He has also identified the need for customers to grow ServiceNow skills among their workforces, which the company is attempting to address with its RiseUp project aimed at training one million workers in its Now platform.