As we hit the one year mark for the COVID-19 pandemic, we are still very much seeing how it has changed the trajectory of our everyday lives. While some people continue to work from home indefinitely and others have returned to the office full time, most of us have entered a hybrid world of work. Bill McDermott, ServiceNow CEO, elaborates on this in his interview on Bloomberg, “We’re entering a hybrid world where people will work from anywhere. They’ll work from home, they’ll go to the office, perhaps not 5 days a week like they used to. Obviously they’ll get back on the road again when the economy opens up as progress has been made with vaccinations across the world – which is something we have been pushing hard.” Countries like Germany, Scotland, and other locations across the United States are using the ServiceNow platform for vaccine management.
Accompanying the hybrid world of work is the need for digital transformation. According to Gartner, it is projected that 65% of all enterprise software will be low code by 2022. McDermott states, “We’re seeing the end of an era. The idea of pre-packaged software of the 20th century is coming to a close,” he continues, “Another is AI, AI is really going to revolutionize the employee and the customer experience.” ServiceNow has recently delivered a huge low code announcement as well as an announcement on how AI is going to revolutionize the enterprise.
While some organizations have anticipated and understand the need for digital transformation, the demand for improved workflows will continue to progress. Over the past few years, close to $3 trillion has been poured into digital transformation. Additionally, there is clear research that close to another $7.8 trillion will be poured into digital transformation by 2024. “Digital is the only way forward,” explains McDermott, “digital transformation is not only a matter of survival, it’s the only way to run a company because you can’t provide a customer with a Michelin 3-star experience unless you digitize your own operations and enable your employees. Everything is going to the cloud,” he continues, “you have to make the enterprise as easy to work with as DoorDash delivering food to your house. Things are changing fast – Digital transformation is the only way.”
While some organizations have initiated digital transformation projects, only about 25% see a positive ROI as a result. McDermott explains, “The reason for this is integration. You have separate systems, separate silos, managers doing their own thing for their own department. What we’ve tried to do is build a platform, the NOW platform, that unifies the enterprise.”
Every industry is rethinking their business model. One example McDermott gives is Disney – Even with the cinemas and parks being closed down as a result of the pandemic, Disney stocks are at an all time high. “They built a digital bridge with Disney+. They have 100 million+ subscribers, we are very happy to have played a part in that,” said McDermott.
Digitizing your business is no longer an option, it’s a necessity. Proven Optics is leveraging the ServiceNow platform to redefine Financial Management and help IT and Finance leaders run IT like a business. Our Built on Now applications are based on 20+ years of Practitioner experience and 100 + Commercial and Federal implementations, giving IT and Finance leaders the powerful insights they need to make better business decisions. The future is here – modernize IT while achieving value with Proven Optics today.