ServiceNow, Inc: Risk- Free Business Execution

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John Donahoe, President & CEO
In today’s world referred to as ‘VUCA’ (volatile, uncertain, complex and ambiguous), organizations need a comprehensive and customizable enterprise risk management solution to identify events, risks, and opportunities proactively. A solution that allows them to overcome the limitations set by data siloes and outdated business models, and adapt to the continuous change in regulatory laws globally. It should provide an integrated view of risks to assess the impact on compliance and risk postures across multiple functions. Having continuous monitoring, prioritization, and automation at its core, ServiceNow transforms inefficient processes into an integrated risk program. Founded in 2004, ServiceNow provides a real-time view of compliance and risk, improves decision making, and boosts employee productivity. By leveraging ServiceNow Risk Management solution, companies can attain much-needed visibility and flexibility to quickly assess, evaluate, and mitigate risks and non-compliance events.

Although enterprises make considerable investments in GRC tools, they still follow the legacy approach to manage risk and compliance processes. The consequences leave the risk data fragmented and inaccessible to the decision makers when they need it. ServiceNow addresses these challenges through ServiceNow® GRC, a risk management application that improves not only continuous monitoring and response to risk but also provides structured workflows for the management of risk assessments, risk indicators, and risk issues.

In addition to delivering a robust risk management application, ServiceNow has a plethora of other offerings, christened as ‘service model,’ which are designed to address the root cause of service issues while enabling self-service among the workforce. Built to digitize the workflow, its cloud-based platform entitled ‘Now Platform’ supports real-time collaboration, communication, and resource sharing. Initially started as a SaaS model, ServiceNow has taken a plunge into the platform-as-a-service model, allowing enterprises to manage their business processes and operations from a single system of record, and using which all procedures can be seamlessly performed on a single platform. Although the company does not own an in-house infrastructure-as-a-service (IaaS) model, Now Platform is compatible for integration with many IaaS–based platforms including Microsoft Azure.

Frustrated over the manual process of collecting data from siloed applications, data analysts often hit the roadblock owing to the lack of accurate information that can be disseminated to the right set of people for making crucial business decisions. Combining the power of a single data model enabled by the platform, ServiceNow has introduced a reporting tool native to the platform which provides actionable information to the users. By employing the reporting tool the users can customize reports at any given time. It encompasses over 200 predefined reports, making data visualization a ‘one-click’ task for different functional managers across ITSM, human resource, security operations, and customer service management.

Part of the digital workflow initiative, ServiceNow’s state-of-the-art asset management solution, ServiceNow® Asset Management allows managers to know the assets, their location, and authorized users. Besides, they can also configure the assets as and when needed and assess the cost. By tracking the contractual, inventory, and financial details, the software automates the IT asset lifecycles. Post the deployment of an asset, and businesses can record the daily asset maintenance activity and perform regular audits until the retirement of the asset. Once the assets are deployed and connected to the ServiceNow® Asset Management tool, decision makers can better manage company policies and regulatory requirements by optimizing the asset lifecycle investments and make insightful decisions about asset capacity—all on a single system.

Intuitive and Efficient Knowledge Management and Training

In a digitally connected ecosystem, both employees and customers of a company wish to resolve issues on their own, without calling upon an internal help desk or a contact center for assistance. For this, companies need to adopt an intuitive and efficient knowledge management tool that facilitates knowledge creation and problem resolution.
ServiceNow® Knowledge Management offers a delightful knowledge experience to employees, customers, as well as agents to serve their customers better. When integrated with the service tool, ServiceNow® Knowledge Management allows the users to find a solution quickly: a win-win situation for both employees and the agents. Quick resolution reduces cost by leaps and bounds for an organization.

Now Platform has an expansive portfolio of training programs covering IT, customer service, and human resource management. Once the customer has subscribed to the ServiceNow platform, they can train their new employees or add to the skills of the existing employees. Through the training program, the workforce gets acquainted with the knowledge of how to utilize the platform. Delta Exam, a program that validates the learning, certifies if the employees have mastered the new features offered in the latest ServiceNow release. Not to mention, the managers will have an option to know how their subordinates interact with the existing functionality of the ServiceNow platform. By answering the questions, the users are assigned a scorecard labeled as “Micro-certifications,” which can be earned in a variety of areas including asset model management, agent intelligence, performance analytics, onboarding, and transition, among others.

Now Platform has been designed to focus on delivering intuitive experiences, so the employees can work in ways that work best for them, and harness a digital workflow engine to complete the assigned tasks smoothly across siloed systems and departments. Now Platform encompasses three categories of workflows spanning across IT workflows, employee workflows and customer workflows. However, more such bespoke workflow apps can be created using the Now Platform.

Letting the Agents Concentrate on What is Important to Them

In an effort to address customer and employee grievances, organizations are moving toward AI-enabled virtual agents that can respond to requests and enhance customer satisfaction while letting the agents concentrate on delivering additional value to customers. Native to Now Platform, ServiceNow’s virtual agent provides customers and employees prompt resolution through round-the-clock automated support. Not only does it help mitigate the agent workload and cost but also provides the much-needed scalability, efficiency, and the empowerment to handle higher volumes of routine tasks. The pre-built templates allow the developers to quickly build and deploy chatbots for IT, human resource and customer service conversations.

ServiceNow has carved a reputation for itself as the provider of enterprise risk and workflow solution and helps thousands of companies to achieve their goals around digital workflow, risk and compliance process management. As a case in point, the Zurich-based company, Swiss Re that used multiple ITSM tools, with many processes spread across different locations wanted to consolidate and improve the IT service levels, and streamline their operations. For this project, Swiss Re smartly chose ServiceNow to replace nearly 20 legacy tools, consolidating them all into a single system of record. The company has been able to remove the friction and give employees an easy way to work through internal processes. Leveraging ServiceNow’s superior service capabilities and advanced technologies, the company has created a one-stop shop where employees can get all the services they need and focused on work.

Recently, ServiceNow upgraded its Now Platform with native mobile enterprise capabilities in its Madrid Release to allow their clients to incorporate a mobile-first strategy, making everyday task mobile-friendly for their workforce. A new way to accelerate digital transformation, Now Platform Madrid release promises to unlock productivity and deliver a mobile experience to the employees. The president and CEO of ServiceNow, John Donahoe, says, “If all you have is ‘just’ a software platform, then that’s not enough to bring about digital transformation in real terms.” By leveraging the power of the platform, anyone can create a native mobile app easily, even without possessing the knowledge of coding. The mobility-based workflow will replace manual processes, repetitive routine work tasks, and complex systems to route requests instantly and fix the issues on the go.

Company
ServiceNow, Inc

Headquarters
Santa Clara, CA

Management
John Donahoe, President & CEO

Description
ServiceNow believes in the power of technology to reduce the complexity in our jobs and make work, work better for people, by transforming old, manual ways of working into modern digital workflows. Employees and customers get what they need, when they need it—fast, simple, easy. “When Fred Luddy, Founder and Chairman of the Board started ServiceNow in 2004, his vision was to build a cloud-based platform that would enable regular people to route work effectively through the enterprise.