ServiceNow explained

ServiceNow, Inc.
Former Name:Glidesoft (2003–2006)
Type:Public
Industry:Enterprise software
Area Served:Worldwide
Revenue: (2023)
Operating Income: (2023)
Net Income: (2023)
Assets: (2023)
Equity: (2023)
Num Employees:22,668
Num Employees Year:December 2023
Footnotes:[1]

ServiceNow, Inc. is an American software company based in Santa Clara, California, that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index.[2] In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.[3]

History

ServiceNow was founded as Glidesoft, Inc. in 2003 by Fred Luddy, and later incorporated in California in 2004.[4] Luddy had previously served as chief technology officer for Peregrine Systems, an enterprise software company based in San Diego, until 2002.[5] In founding the company, Luddy intended to provide the same services previously available from the then defunct Peregrine Systems.

Luddy was the only employee until mid-2005 when in venture financing from JMI Equity allowed Glidesoft to hire five additional people. In 2006, the company changed its name to Service-Now.com.[6] In 2007, ServiceNow reported an annual revenue of and opened its first Silicon Valley office, in San Jose.[7] 2007 was also the first year that the company "went cash flow positive".

, the company had 275 employees in its San Diego, Chicago, New York, Atlanta, London and Frankfurt offices, as well as a partnership with Accenture who had more than 100 ServiceNow consultants. At this time, the company was sometimes known as "Service-now". By April 2011, the company had named Frank Slootman as chief executive officer.

In June 2012, ServiceNow became a publicly traded company following a IPO. Shortly thereafter, the company relocated its headquarters from San Diego to Santa Clara, California. It was taken public by Morgan Stanley one month after it took Facebook public.[8]

In October 2019, the company announced that CEO John Donahoe would be succeeded by Bill McDermott, formerly CEO of SAP SE at the end of the calendar year.[9]

In May 2023, Nvidia announced a partnership with ServiceNow to bring AI services to major corporations. This partnership aims to utilize company-specific data in the new AI service, distinguishing it from the AI advancements made by OpenAI and ChatGPT.[10]

Acquisitions

Platform

ServiceNow is a platform-as-a-service, that allows for the operation of enterprise and technical management support systems, such as IT service management and help desk functionality. The company's core business revolves around management of "incident, problem, and change" IT operational events. Their fee model was based on a cost per user (seat) per month, with that cost ranging down from .

The platform is packaged into different suites of applications called "modules", which are tailored to various business processes. Some of these areas include Governance, risk management, and compliance, audit, business continuity planning, disaster recovery, vendor management, and environmental, social, and corporate governance. A commonly referred to benefit of the platform is that many of these modules are interconnected, such as the IRM suite (Integrated Risk Management), which will automatically create issues and assign tickets based on various risk and audit findings, findings that can be found through the manual or automated performance of different activities such as evidence requests. There is also a data and information visualization report creator called Performance Analytics.

The ServiceNow platform resides on what is known as the CMDB, Configuration management database. The CMDB holds all enterprise data, including master, transactional, and configuration data. In practical terms, any assets that are part of a business, from data centers, employees, to employee laptops, are known as 'CI Items' in the CMDB. These components, which make up an enterprise, can be configured, tracked, audited, and the relationships between the various CI items can be assessed.[38]

ServiceNow script is written in JavaScript, with database queries being made using a proprietary object-oriented API called Glide.[39] In July 2023, the company released a generative AI speech-to-code feature, which the marketing research firm Valoir estimated could reduce relevant work time by 40 percent.[40]

See also

Notes and References

  1. Web site: ServiceNow, Inc. 2023 Annual Report (Form 10-K) . 2024-01-25 . U.S. Securities and Exchange Commission.
  2. News: ServiceNow Rallies Ahead of Joining the S&P 500.
  3. Web site: The World's Most Innovative Companies . Forbes.
  4. News: Xconomy: ServiceNow Buys San Diego Specialist in Customer Experience, Design. Bigelow. Bruce V.. October 3, 2017. Xconomy. 2018-05-11. en-US.
  5. News: Xconomy: Service-Now CEO Fred Luddy Sees a Clear Path to $1 Billion in Annual Revenue. Bigelow. Bruce V.. January 11, 2011. Xconomy. 2018-05-11. en-US.
  6. Book: Abbott. Martin L.. Fisher. Michael T.. Scalability Rules: Principles for Scaling Web Sites. 2016-08-25. Addison-Wesley Professional. 2. 59. 978-0-13-443167-3. en.
  7. Web site: San Diego's ServiceNow Driving Hard as Revenue Soars; Expands to Silicon Valley. Bigelow. Bruce V.. August 9, 2011. Xconomy. 2018-05-11.
  8. News: Lee . Spears . ServiceNow Advances in Debut After $210 Million IPO. Bloomberg.com . . June 29, 2012.
  9. Web site: 2019-10-23. ServiceNow Shakeup: No One Saw This Coming. 2019-10-23. Channelnomics. en-US.
  10. Web site: Investors. 2023-05-26. NVDA Stock: Nvidia, ServiceNow Partnership Involves Generative AI. Investors. 2023-05-26. en-US.
  11. Web site: ServiceNow Acquires Dutch Provider of Performance Analytics Software. Bigelow. Bruce. Xconomy. en. 2019-08-22.
  12. Web site: ServiceNow acquires Neebula Systems for $100m. Goldenberg. Roy. Globes. July 9, 2014. en. 2021-03-04.
  13. Web site: ServiceNow Acquires Intrei, Launches New GRC Offering. ITBrief. en. 2019-08-22.
  14. Web site: ServiceNow snaps up Security Startup. Clancy. Heather. Forbes. en. 2019-08-22.
  15. Web site: ServiceNow buys DxContinuum to boost enterprise automation services. Gagliordi. Natalie. zdnet. en. 2019-08-22.
  16. Web site: ServiceNow buys mobile platform startup SkyGiraffe. Gagliordi. Natalie. ZDNet. en. 2019-06-07.
  17. Web site: ServiceNow beats estimates, acquires VendorHawk. Gagliordi. Natalie. zdnet. en. 2019-08-15.
  18. Web site: Gagliordi. Natalie. ServiceNow buys AI startup Parlo. 2020-11-23. ZDNet. en.
  19. Web site: ServiceNow to acquire FriendlyData for its natural language search technology. 2020-11-23. TechCrunch. October 11, 2018 . en-US.
  20. Web site: ServiceNow picks up mobile app analytics startup Appsee. Deutscher. Maria. SiliconAngle. May 13, 2019. en. 2019-08-15.
  21. Web site: Links. Recommended. ServiceNow to acquire Fairchild Resiliency Systems to help companies better manage risk at scale. blogs.servicenow.com. en.
  22. Web site: Two deals in a week: ServiceNow acquires Passage AI for its deep learning chatbots. Deutscher. Maria. 2020-01-28. SiliconANGLE. en. 2020-04-02.
  23. Web site: 2020-01-28. ServiceNow to Acquire Passage AI. 2021-03-16. www.businesswire.com. en.
  24. Web site: ServiceNow to acquire Belgian configuration management startup Sweagle. Miller. Ron. 2020-06-20.
  25. Web site: ServiceNow acquires artificial intelligence startup Element AI. 2020-11-30. ZDNet. Gagliordi. Natalie.
  26. Web site: Miller. Ron. ServiceNow takes RPA plunge by acquiring India-based startup Intellibot. 2021-03-23. TechCrunch.
  27. Web site: Dignan. Larry. ServiceNow acquires Lightstep, aims to leverage observability across enterprises. 2021-05-10. ZDNet.
  28. Web site: Dignan. Larry. 2021-08-05. ServiceNow acquires database performance company Swarm64. ZDNet.
  29. Web site: Sawers. Pauk. 2021-08-11. ServiceNow expands into indoor mapping with Mapwize acquisition. VentureBeat.
  30. Web site: Links. Recommended. Gekkobrain acquisition to streamline ERP migrations, modernize systems of record. blogs.servicenow.com. en.
  31. Web site: Sawers. Paul. ServiceNow acquires Hitch to bring AI-powered skills mapping to the enterprise . VentureBeat. 2022-06-03.
  32. Web site: Scannell. Ed. ServiceNow buys Era Software to unify observability strategy. TechTarget. 2022-10-06.
  33. Web site: ServiceNow Expands Its AI Capabilities with G2K Acquisition: Redefining Retail and Beyond. The Futurum Group. May 16, 2023. Shelly Kramer. August 11, 2023.
  34. Web site: Kovar . Joseph . ServiceNow To Acquire UltimateSuite In Task-Mining Play . CRN . 15 January 2024.
  35. ServiceNow to Acquire Task Mining Company UltimateSuite to Enhance Process Mining and Intelligent Automation on the Now Platform . BusinessWire . December 18, 2023 . 15 January 2024.
  36. Web site: FinSMEs . 2024-03-19 . ServiceNow Acquires 4Industry; Closes Acquisition of Smart Daily Management . 2024-03-19 . FinSMEs . en-US.
  37. Web site: July 24, 2024 . ServiceNow acquires Raytion to enhance GenAI-powered search and knowledge management capabilities on the Now Platform . July 24, 2024.
  38. Web site: What is a CMDB (Configuration Management Database)? . 2023-08-11 . Data Center . en.
  39. Web site: Product Documentation | ServiceNow .
  40. Now Assist GenAI Offers Summarization and Text-To-Code .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "ServiceNow".

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