Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
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In this Cloud Wars Minute, Bob Evans offers highlights of the commentary given by ServiceNow CEO Bill McDermott during the company’s most recent earnings call.
Highlights
00:40 — Last week, ServiceNow rolled out some very strong Q1 numbers. The company is defying the slowdown that many other Cloud Wars Top 10 companies are facing, as their growth rates are moderating.
01:06 — Bob poses an idea: Maybe platforms are starting to turn “sexy.” During McDermott’s commentary on the earnings call, he talked less about platforms in terms of the technology they have, and more how they are inextricably tied to better business outcomes.
01:50 — For Q1, ServiceNow saw a 27% rise in constant currency. At ServiceNow’s annual customer event, Knowledge ’23, which takes place May 16-18 in Las Vegas, McDermott noted that the new products and capabilities shown will “knock socks off.”
02:50 — McDermott raised a few points on his earnings call:
- CXOs across the board are uniting around business strategy based on technology platforms
- “Consolidation is a tailwind” for ServiceNow
- Companies are moving away from the “app of the day” and “platforms that don’t work”
- CEOs know they’ve got to “shake things up”
04:05 — McDermott noted that unless you can get all C-suite members united around what the business strategy will be, and equally united around the best technology strategy to support the business, messy work will arise and projects will fail. Bob notes how during this call, McDermott pointed to the new position and capabilities coming from ServiceNow.
