NOW ServiceNow Inc.

ServiceNow Named a Leader in Inaugural IDC MarketScape for Worldwide SaaS and Cloud-enabled Spend Orchestration

(NYSE: NOW), the AI platform for business transformation, has been named a Leader in the first ever IDC MarketScape: Worldwide SaaS and Cloud-enabled Spend Orchestration 2024 Vendor Assessment. ServiceNow attributes this recognition to its solution, which delivers easy to follow, highly automated processes for procurement, supplier management, and accounts payable, bringing teams together and helping reduce cycle times and costs.

According to the report, “ServiceNow's Source-to-Pay Operations is a comprehensive solution designed to automate and streamline the source-to-pay process, thereby enhancing the efficiency and effectiveness of procurement activities. By automating routine tasks and providing a unified platform for procurement, supplier management, and employee requisition activities, ServiceNow enables procurement, supplier, and AP specialists to focus on strategic priorities and high-value tasks, improving overall operational agility and efficiency.”

“Few teams have faced more pressure in recent years to overhaul manual processes than those supporting procurement, supplier management, and accounts payable. ServiceNow is meeting these teams where they are with our Source-to-Pay Operations solution, which offers a streamlined, fully automated system with an unmatched user experience, all on a single platform,” said Kirsten Loegering, VP of product management, Finance and Supply Chain Workflows, at ServiceNow. “By providing a single layer that connects processes, underlying systems of record, and data sources, we remove complexity and friction for employees, as well as enable them to focus on more critical work.”

Built on the company’s AI platform for business transformation, ServiceNow improves the entire procurement process through its , including Source-to-Pay Operations. This solution works well with existing ERP and procurement technologies, helping ensure companies realize business value and results, fast, with a centralized employee portal for procurement requests, virtual agent technology, shopping hub of preferred suppliers, and real-time analytics. Its advanced features boost procurement productivity and simplify workflows across existing systems, which help minimize errors and delays. Additionally, it fosters better collaboration with suppliers by integrating them directly into the process and offering connected, interactive experiences.

Most recently, as part of the , ServiceNow brought its GenAI experience, Now Assist, to Finance and Supply Chain Workflows, starting with Sourcing and Procurement Operations. further simplifies the procurement intake process with a conversational experience that guides requesters to find what they need, all while helping ensure process compliance and an overall improvement in spend under management.

Key capabilities of Source-to-Pay Operations include:

  • Improvement of procurement processing and compliance
    • Enables employee self-service through intuitive workflows, a knowledge base, and virtual agents to enhance engagement and spend management.
    • Simplifies processes and improves tracking with step-by-step playbooks, boosting contract utilization and compliance through integrated controls.
  • Acceleration of supplier qualification and accuracy
    • Integrates supplier qualification and onboarding with cross-functional workflows involving teams like legal and finance.
    • Enhances data quality by allowing suppliers to manage their own information, facilitating faster issue resolution.
  • Transformation of supplier management with digital experiences
    • Fosters real-time collaboration with suppliers through case management of issues like incorrect shipments, while centralizing demographic, performance, and ESG data.
    • Consolidates supplier information and leverages third-party intelligence for deeper insights into supplier performance.
  • Streamlining end-to-end invoice processing and payment processes
    • Unifies all accounts payable processes for seamless collaboration with suppliers and cross-functional teams, helping ensure faster, more accurate invoice resolution.
    • Automates data capture of invoices through Document Intelligence and implements end-to-end workflows for processing, resolutions, approvals, and ERP payment postings.

Additional Information

  • Visit ServiceNow’s and pages for more information.
  • Download ServiceNow’s eBook.
  • Read a complimentary .

1IDC MarketScape: IDC MarketScape: Worldwide SaaS and Cloud-enabled Spend Orchestration 2024 Vendor Assessment (doc # US51795424, September 2024)

About IDC MarketScape:

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

About ServiceNow:

ServiceNow (NYSE: NOW) is putting AI to work for people. We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit: .

© 2024 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.

EN
03/10/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on ServiceNow Inc.

Servicenow Inc: 3 directors

A director at Servicenow Inc gave away 2,944 shares at 0.000USD and the significance rating of the trade was 32/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...

 PRESS RELEASE

ServiceNow and Microsoft Expand Strategic Alliance to Modernize the Fr...

SANTA CLARA, Calif.--(BUSINESS WIRE)-- (NYSE: NOW), the AI platform for business transformation, today announced an expanded strategic alliance with Microsoft to modernize front-office business processes with Copilot and agents. The news builds on years of partnership bringing new advanced cloud and AI capabilities to customers in their flow of work. Most recently, both companies introduced which streamlines workflows and enables self-service capabilities within Microsoft applications. Initial use cases include employee and IT scenarios where employees working in Microsoft Teams can use Co...

 PRESS RELEASE

ServiceNow Advances Autonomous, Responsible AI on the Now Platform Wit...

SANTA CLARA, Calif.--(BUSINESS WIRE)-- (NYSE: NOW), the AI platform for business transformation, today announced new generative AI (GenAI) and governance innovations to advance autonomous, responsible AI on the Now Platform. With this launch, ServiceNow is adding more than 150 to its portfolio for customers. This includes new, expanded Now Assist capabilities that drive greater visibility and controls with an AI Governance offering for secure and compliant AI practices. Native multilingual support in Now Assist extends GenAI’s global footprint for seamless, culturally aware communications an...

 PRESS RELEASE

ServiceNow and Five9 Expand Partnership With Turnkey AI-Powered Soluti...

TORONTO & BARCELONA, Spain--(BUSINESS WIRE)-- ServiceNow World Forum & Five9 CX Summit—ServiceNow (NYSE: NOW), the AI platform for business transformation, and Five9 (NASDAQ: FIVN), provider of the Intelligent CX Platform, today announced an expanded partnership to deliver a turnkey AI-powered solution for unified end-to-end employee and customer experiences. By combining the strengths of ServiceNow Customer Service Management (CSM) and the Five9 platform, the solution will create more streamlined self-service and assisted service operations and unify customer support processes to reduce opera...

 PRESS RELEASE

ServiceNow Unveils New Research on Government Organizations Setting th...

SANTA CLARA, Calif.--(BUSINESS WIRE)-- (NYSE: NOW), the AI platform for business transformation, has released , a global research study on the pace of AI transformation in the public sector. Top findings include a group of AI Pacesetters—government organizations relatively more advanced in using AI and other emerging technologies—that are driving efficiency and achieving better outcomes than organizations that have been slower to adopt AI-powered workflows and automation. Key insights illuminate the unique ways Pacesetters use AI to improve citizen and employee experiences, strengthen complia...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch