ServiceNow Forecasts $4B Revenue by 2020

May 16, 2016

By Paula Bernier - Executive Editor, TMC

ServiceNow (News - Alert) aims to generate $4 billion in revenue by 2020, the company recently revealed. And half of that, it says, will come from outside its core IT management tools and rather from areas including customer service, human resource services, and security.

The company, which in April announced it had better than expected first quarter results and forecast revenues for the year to fall between $1.35 and $1.38 billion, is among the two leaders in the worldwide service desk management software space. (The other leader in BMC.)

More than a third of the global 2,000 companies leverage ServiceNow solutions today. The company also provides its solutions to mid sized companies in such verticals as banking and financial services.

In a May 5 ServiceNow blog CTO Allan Leinwand talks about how the enterprise cloud is revolutionizing how people work, enabling businesses to quickly launch services, and paying as they go. But he adds that enterprises face a major lack of visibility related to products like Facebook (News - Alert), Gmail, and Whatsapp, which is a major problem for the CIOs responsible for the services running their businesses.

To address all this ServiceNow, he says, built the Enterprise Cloud to address IT, security, legal, and customer service workflow applications.

“A key example of our focus on providing visibility is that you can request that your service and data resides in one of our eight paired data center regions. We built these redundant data center regions for data sovereignty reasons and so that you will know where the atoms that provide their service physically reside,” Leinwand explains. “Adding to the visibility equation is our Real Availability dashboard. Our unique and highly-scalable multi-instance architecture allows us to show Real Availability on a per-customer, per-instance basis.” 

Last month also saw ServiceNow announced plans to buy ITapp, which offers a cloud platform management solution.

And in November of 2014 ServiceNow unveiled ServiceNow Express, a cloud-based IT service management solution that offers incident, problem, and change automation to speed the assignment and resolution of tickets, fix recurring issues, and help IT teams stop managing services with email; asset tracking to replace spreadsheets with a single system of record to see what assets the IT team manages, where assets reside, how they are performing, and what issues are tagged to them; Visual Task Boards to give IT managers an easy way to assign the team work through a drag-and-drop interface, including changing assignee, adding tasks, resetting priorities, and collaborating with the team; and one-click reporting on any metric to track performance and demonstrate the value of IT to business leaders.

Expect ServiceNow to announce some new products in the customer service realm as well as some new integrations with other cloud solutions providers later this week. (You will be able to find that news later this week at this link.)

Edited by Maurice Nagle