ServiceNow (NOW) Deutsche Bank's 2024 Technology Conference summary

Growth and platform strategy

• Maintains durable 20%+ growth by focusing on customer value, rapid implementation, and platform innovation.

• 85% of new business comes from existing customers, with long-standing cohorts still growing at 20%.

• Platform consolidation and quick time to value are key differentiators in a challenging macro environment.

• Expansion into front office use cases like sales and order management is driven by customer demand.

• Large customers are driving bigger deals, especially with Pro Plus, reflecting urgency to adopt AI.

Leadership and culture

• Leadership development is structured around education, experience, exposure, and expectations.

• Deep leadership bench and strong succession planning ensure business continuity.

• Culture of hiring and developing top talent is emphasized, with a focus on enterprise leadership.

• No disruption expected in business cadence or pipeline due to leadership changes.

Customer and partner engagement

• Robust processes and experienced teams support forecasting and deal closure, especially in the federal sector.

• Pipeline remains strong, with a 60% increase in pipeline generated from recent events.

• New logo acquisition is a focus, with compensation plans and dedicated teams to drive growth.

• Partner ecosystem is being enabled to accelerate adoption of new products like Now Assist, with full ramp expected by 2025.