Latest news with #BillMcDermott
Yahoo
6 days ago
- Business
- Yahoo
Jim Cramer on ServiceNow: 'I Also Like ServiceNow (NOW)'
We recently published a list of . In this article, we are going to take a look at where ServiceNow, Inc. (NYSE:NOW) stands against other stocks that Jim Cramer discusses. When Cramer was asked about ServiceNow, Inc. (NYSE:NOW), he remarked: 'I also like ServiceNow. I love what Bill McDermott's doing. They're actually going at each other right now, or at least Bill McDermott's declared war, so to speak on Salesforce. These are two really fine companies, and over the long term, they've both been sensational.' A team of software engineers at desks working on code for a cutting-edge cloud computing solution. ServiceNow (NYSE:NOW) offers a cloud-based platform that supports digital workflows through AI, automation, and low-code tools, providing solutions for IT services, operations, customer service, risk management, and enterprise functions like HR and legal. Ithaka Group stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q1 2025 investor letter: 'Founded in 2004, ServiceNow, Inc. (NYSE:NOW) has become the leading provider of cloud-based software solutions that defi ne, structure, manage and automate workflow services for global enterprises. ServiceNow pioneered the use of the cloud to deliver IT service management ('ITSM') applications. These applications allow users to manage incidents and to plan new IT projects, provision clouds, manage application performance and build applications themselves. The company has since expanded beyond the ITSM market to provide workflow solutions for IT operations management, customer support, human resources, security operations and other enterprise departments where a patchwork of semi-automated processes have been used with varying success in the past. ServiceNow's stock fell during the quarter, driven by the announcement that its much anticipated AI Agents offering is going to be offered as a consumption-based model, vs the expected seat-based model. This change will make revenue recognition fall further into the future, as clients can take their time adopting (and therefore paying) for the new product.' Overall, NOW ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of NOW as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NOW and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Jim Cramer on ServiceNow: 'I Also Like ServiceNow (NOW)'
We recently published a list of . In this article, we are going to take a look at where ServiceNow, Inc. (NYSE:NOW) stands against other stocks that Jim Cramer discusses. When Cramer was asked about ServiceNow, Inc. (NYSE:NOW), he remarked: 'I also like ServiceNow. I love what Bill McDermott's doing. They're actually going at each other right now, or at least Bill McDermott's declared war, so to speak on Salesforce. These are two really fine companies, and over the long term, they've both been sensational.' A team of software engineers at desks working on code for a cutting-edge cloud computing solution. ServiceNow (NYSE:NOW) offers a cloud-based platform that supports digital workflows through AI, automation, and low-code tools, providing solutions for IT services, operations, customer service, risk management, and enterprise functions like HR and legal. Ithaka Group stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q1 2025 investor letter: 'Founded in 2004, ServiceNow, Inc. (NYSE:NOW) has become the leading provider of cloud-based software solutions that defi ne, structure, manage and automate workflow services for global enterprises. ServiceNow pioneered the use of the cloud to deliver IT service management ('ITSM') applications. These applications allow users to manage incidents and to plan new IT projects, provision clouds, manage application performance and build applications themselves. The company has since expanded beyond the ITSM market to provide workflow solutions for IT operations management, customer support, human resources, security operations and other enterprise departments where a patchwork of semi-automated processes have been used with varying success in the past. ServiceNow's stock fell during the quarter, driven by the announcement that its much anticipated AI Agents offering is going to be offered as a consumption-based model, vs the expected seat-based model. This change will make revenue recognition fall further into the future, as clients can take their time adopting (and therefore paying) for the new product.' Overall, NOW ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of NOW as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NOW and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Axios
20-05-2025
- Business
- Axios
Government contractors are lining up to work with DOGE
Security contractors are adapting to the Department of Government Efficiency's brutal cost-cutting regime — by pitching their tech as essential to its mission. Why it matters: As federal workforce cuts deepen, DOGE is expected to lean more heavily on third-party security vendors to help dismantle longstanding information silos — despite the national security risks that could come from its quest. Driving the news: In recent weeks, DOGE has quietly begun laying the groundwork for what privacy advocates long feared was its endgame: building a centralized database containing the personal information of millions of U.S. citizens and residents. Some reports also suggest DOGE is exploring ways to deploy AI agents to replace federal workers across agencies, fueling further alarm about the national security and privacy implications. Between the lines: Several companies are now marketing their tools directly to agencies as a way to survive DOGE's cost-cutting demands. ServiceNow CEO Bill McDermott said in an earnings call last month that his company is benefiting from the shift. "In this moment, we're one of the rare companies that will grow 30% year over year in the public sector," he said. Wired reported this month that OpenAI has met with the Food and Drug Administration about a tool to evaluate new drugs. Two DOGE associates were also in attendance, according to the report. A source familiar with the matter confirmed the meetings to Axios, noting that OpenAI has shown clear interest in working specifically with the FDA in some capacity. However, no contracts have been signed yet. The intrigue: Many of these vendors have ramped up their lobbying power in recent months — particularly with Trump-aligned lobbying firms. So far in 2025, at least nine security and consulting firms, including Zscaler, Accenture, and Booz Allen Hamilton, have registered with Ballard Partners, according to congressional lobbying disclosures. Zoom in: Axonius, an Israeli cybersecurity startup with growing federal ambitions, told Axios it's started pitching itself to agencies as a tool that can help them dodge the most severe DOGE audits. The company's platform gives administrators full visibility into devices, software and users, aligning closely with DOGE's stated mission to streamline IT environments. Tom Kennedy, vice president of Axonius Federal Systems, told Axios that the company's tools can be "part of a great efficiency story" and that its technology usually gets through relevant DOGE audits. But Brian Meyer, field CTO at Axonius Federal Systems, added that the company's pitch doesn't endorse job cuts. "Even before the DOGE, there was a problem in the cybersecurity industry for full-time employees — they're already trying to do more with less," he said. "We've been telling that story for years: Based on what we have, you can do more with the resources that you have." The big picture: The federal cybersecurity ecosystem has been on edge during the early months of the second Trump administration, amid staff cuts in the federal cyber workforce and a pending Department of Justice investigation into former CISA director Chris Krebs. Several administration officials met with companies on the sidelines of the RSA Conference last month in the hopes of mending some of these relationships. Still, some executives say federal work has remained consistent. "We have been really privileged to have a strong relationship with every White House administration," Cloudflare CEO Matthew Prince told Axios in an interview. "It feels like everything today is a partisan issue — but cybersecurity is on the less partisan side of that equation," he added. Yes, but: That hasn't spared vendors from fallout. Security research government contractor Mitre is laying off 442 employees, or nearly 5% of its workforce, in June due in part to contract cancellations. Deloitte has also shared plans to lay off staff, and other consulting firms have warned of declining U.S. federal revenues this year. "It's disruptive, there's no other way to put it," Kennedy said of DOGE's cuts to the federal cybersecurity workforce. "We were hoping that cybersecurity would be sheltered, and it has not been from a human side."
Forbes
14-05-2025
- Business
- Forbes
ServiceNow Challenges Traditional CRM At Knowledge 2025 Conference
At its Knowledge 2025 event last week, ServiceNow unveiled a new AI-powered CRM platform and an increased focus on the CRM market that challenges traditional approaches and established leaders. ServiceNow's strategic move occurs as businesses navigate increasingly complex customer journeys and face demands shaped by empowered customers. Let's dig into the key components of the platform revealed at Knowledge 2025 and the strategic path that led ServiceNow to this expanded role in the CRM space. First, some crucial background about how the CRM landscape is changing. In today's connected marketplace, customers use digital channels and social media to share experiences and influence purchasing decisions. This heightened customer influence mandates consistently delivering positive customer experiences and fostering loyalty, which is directly tied to maintaining market position and driving growth. In this context, companies need unified platforms that are capable of orchestrating interactions across the enterprise. The shift towards connected, workflow-driven customer relationships is increasingly relevant across various industries, as businesses in sectors from finance to healthcare to retail seek to bring more efficiency to complex service delivery and engagement processes that span multiple internal functions. The ability to adapt a core workflow platform to these varied industry needs presents a different paradigm compared to industry-specific solutions built on less-flexible foundations. ServiceNow's unveiling of its new AI-powered CRM platform at Knowledge 2025 wasn't entirely unexpected for those following the company's trajectory. This move signals a deliberate and increasingly prominent focus on the CRM market, building logically upon the company's established customer service strengths and the inherent capabilities of its workflow platform. Hints of this direction emerged earlier. Following the company's fourth quarter and full-year 2023 earnings announcement, CEO Bill McDermott discussed the significant potential for ServiceNow within the CRM category. During an analyst Q&A session back then, he spoke about the company's unique ability to integrate complex business processes across the enterprise. The announcement at Knowledge 2025 (and earlier in the year at the company's sales kick-off meeting) feels like the anticipated next step in this evolution. From the technical side, the company's expansion into CRM is underpinned by years of development in ServiceNow's customer service management (CSM) platform, which already features omnichannel support, case management, self-service, knowledge management, proactive outreach, conversational intelligence and a 360-degree customer view. (I'll talk more about the technical specifics below.) While traditional CRM often focuses on managing sales and marketing interactions, ServiceNow's approach, now fully realized in its new platform, is focused on the orchestration of service and fulfillment workflows that cut across organizational silos. In short, the ServiceNow CRM platform is presented as a relationship-based solution intended to go well beyond managing customer records in sales or marketing silos. Unlike many traditional CRM systems that may function more as systems of record for customer data, ServiceNow also aims to be a 'system of action' and the 'nervous system of the enterprise,' according to Amit Zavery — president, chief product officer and COO at ServiceNow — in a Knowledge 2025 keynote. This means the platform is designed to actively drive and automate the work required to fulfill customer needs and resolve requests across functions. This integrated workflow approach is central to how ServiceNow positions its offering relative to traditional CRM architectures. A key element in this orchestration is the platform's AI agents, which are meant to handle a significant portion of repetitive tasks. They are designed to resolve simple requests themselves and trigger and manage multi-step workflows across the organization. These agents should manage many requests autonomously, escalating more complex issues to human experts when necessary. This enables scenarios beyond typical customer service tickets; for instance, an AI agent might autonomously manage complex customer onboarding that requires coordination across sales, IT provisioning and HR, or support a field service request by automatically dispatching a technician based on inventory levels and customer location. The important thing to note here is the capability for coordinated action across diverse departments, including functions traditionally handled by separate back-office systems such as fulfillment, finance or IT. This contrasts with many traditional CRM platforms, which are primarily centered on sales, service and marketing interactions. Those systems may require more complex integrations to deeply involve back-office functions. The emphasis on autonomous task execution distinguishes it from most traditional CRMs, where AI may primarily assist human users rather than manage tasks end-to-end. ServiceNow reported that its internal use of these AI agents has automated 37% of its own customer support cases, demonstrating the potential for increased efficiency and responsiveness. If ServiceNow succeeds in its ambitions, implementing such end-to-end automation across traditionally siloed functions could challenge conventional operational models and even redefine how businesses manage customer relationships as a whole. ServiceNow's CRM platform is built on a unified architecture integrating data, AI and workflows that's been designed from the start to support end-to-end automation. This contrasts with architectures in some competitor landscapes where different CRM functionalities may reside on separate platforms or clouds, potentially requiring complex integrations. The ServiceNow architecture aims to address integration challenges often faced when connecting disparate systems in enterprise environments. Key technological components supporting this include: While other CRM platforms such as Salesforce offer extensive APIs and integration marketplaces (like AppExchange), ServiceNow distinguishes itself by emphasizing its deep connectivity with IT and back-office systems through its core workflow platform. Not just incidentally, for years on end ServiceNow has achieved growth rates nothing short of spectacular — among the best in all of enterprise software — by satisfying enterprises' needs in these areas. That gives it a large and enthusiastic customer base that may well include many prime prospects for adopting its new CRM offerings. ServiceNow's official CRM announcement at Knowledge 2025 marks its decisive entry into a market where the company is not entirely new and has already demonstrated strong momentum. The company's recent business results show that even before this formal declaration, ServiceNow's CRM segment achieved an annual contract value of $1.4 billion by the end of 2024, marking an impressive 30% year-over-year growth rate. This makes it the company's fastest-growing workflow business. Now, early results from pilot customers indicate the significant impact of using ServiceNow's purpose-built CRM. For instance, Pure Storage has used it to integrate sales, fulfillment and service into one platform — and has reported a corresponding 40% reduction in the costs associated with business model transformation. More than that, Pure Storage has achieved an impressive 82% Net Promoter Score, along with a reduction in resolution times. The company credits those outcomes to the ServiceNow platform's capability to enhance operational efficiency through integrated workflows. ServiceNow's official entry into CRM also intensifies competition with established players including Salesforce, Oracle, SAP and Microsoft. While Salesforce leads in CRM revenue, ServiceNow's CRM business is significantly outpacing Salesforce's 8% growth rate. ServiceNow's single, AI-integrated platform, which unifies and automates customer-facing, operational and internal support processes, potentially poses a significant threat to traditional CRM players, especially those serving large enterprises that require deep, integrated solutions. This shift towards platform supremacy and enterprise automation necessitates that incumbents accelerate their AI and workflow integration strategies. One competitive challenge for ServiceNow is that its strong foundation in IT service management and workflow automation can sometimes make the platform more complex than necessary for organizations looking for a simpler front-office solution. Platforms such as Zendesk, Intercom and Zoho Desk excel at delivering efficient customer support with minimal setup, whereas ServiceNow's integrated approach is particularly beneficial for larger enterprises with intricate, cross-departmental processes. This should position ServiceNow as a prime choice for organizations ready for comprehensive digital transformation, although simpler solutions may be more suitable for those with more straightforward needs. Notwithstanding ServiceNow's early customer successes and a solid technology foundation for CRM, adopting AI agents and transformative CRM strategies presents significant challenges. These complexities include gaps in geographical technology coverage, customer uncertainty about initiating AI projects and the difficulties of integrating AI across various systems. At Knowledge 2025, McDermott expressed a strong belief that the company can help customers navigate these challenges, conveying a palpable sense of confidence and momentum within ServiceNow. He described the company as 'spreading our wings,' capturing the spirit of a startup that is 'young [and] In McDermott's view, the path forward for enterprises is clearly defined by the necessity to embrace AI, and he positions ServiceNow as a key enabler in this landscape. As he stated during the Q1 2025 earnings call, 'You're either an AI leader, or you're going to lose.' It's clear to me that McDermott has no intention of losing.
TECHx
10-05-2025
- Business
- TECHx
ServiceNow AI Platform Launches at Knowledge 2025 Event
Home » Tech Value Chain » Global Brands » ServiceNow AI Platform Launches at Knowledge 2025 Event ServiceNow (NYSE: NOW) has officially introduced the ServiceNow AI Platform at its annual Knowledge 2025 event. The platform is designed to support any AI, any agent, and any model helping enterprises scale AI across systems. It brings new innovations and deeper integrations with key technology partners. These include NVIDIA, Microsoft, Google, and Oracle. The goal is to boost enterprise-wide orchestration and deliver measurable outcomes. Businesses today face system silos, scattered data, and unclear AI strategies. At the same time, they must cut costs and increase efficiency. ServiceNow's new platform aims to simplify operations and unlock the value of AI. The company reports that 55% of organizations using agentic AI have improved gross margins. This contrasts with 22% of companies not yet exploring AI. These findings are from the ServiceNow Enterprise AI Maturity Index. With 20+ years of automation expertise, ServiceNow is positioning its AI platform as a way to help organizations move from pilots to full-scale AI deployment. CEO Bill McDermott said the platform enables transformation in real time. He stated that ServiceNow is the only company that can orchestrate AI, data, and workflows on a single platform. The ServiceNow AI Platform features a conversational AI Engagement Layer. This layer lets users carry out complex tasks using integrated tools: Knowledge Graph Workflow Data Fabric AI Agent Fabric These tools allow AI agents to work across data systems and organizational frameworks. ServiceNow also announced several new capabilities at the event. Key features include: AI Control Tower: A unified command center to manage and govern all AI agents, models, and workflows—ServiceNow or third-party. It supports secure, scalable enterprise automation. AI Agent Fabric: A communications layer for AI ecosystems. It connects agents across vendors like Microsoft, NVIDIA, Google, and Oracle. Agents can coordinate, share context, and complete tasks across teams. Another major release is ServiceNow's next-gen CRM. This AI-powered tool merges sales, service, and fulfillment on one platform. It supports the full customer lifecycle, from quote to renewal. Additionally, ServiceNow and NVIDIA co-developed the Apriel Nemotron 15B. This large language model supports fast, cost-effective reasoning. It is optimized for performance, scale, and accuracy. Businesses can deploy agentic AI with lower latency and lower inference costs. ServiceNow is calling the platform a foundation for future-ready enterprises. The platform aims to reduce tech debt, improve productivity, and streamline workflows using real-time AI orchestration. The launch of the ServiceNow AI Platform marks a new phase in the company's strategy to be a core player in enterprise AI adoption.
