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Everything-as-a-Service Pays Off for ServiceNow

The company has dug a moat by hooking customers with ubiquitous service applications.

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 ServiceNow’s (NOW) cloud-first everything-as-a-service approach revolutionized the way IT service management, or ITSM, software was developed, delivered, and refined, creating a loyal following and rabid user base that allowed the firm to quickly gain share, ultimately supplanting BMC as the market leader.

The company has begun to expand that approach, marrying IT operations management, or ITOM, applications to their companions in ITSM, while expanding its workflow automation expertise to other areas of the enterprise, including human resources, customer service, finance, and marketing.

Rodney Nelson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.