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At Barron's

ServiceNow CEO McDermott on Bringing Simplicity to Complex Businesses

At Barron's

At Barron's

Business

4.717 Ratings

🗓️ 7 December 2023

⏱️ 21 minutes

🧾️ Download transcript

Summary

CEO Bill McDermott talks about the power of productivity and digital transformation.

Transcript

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0:00.0

Hello everyone and welcome to At Barrens.

0:04.0

I'm Andy Serwer and welcome to our guest, Bill McDermott, CEO of Service Now.

0:09.0

Bill, great to see you.

0:10.0

Thank you very much, Andy. Great to be with you again.

0:12.0

I want to start off by asking you to tell us about Service Now just for people who aren't so familiar with the company.

0:19.0

Yeah, Service Now is the workflow automation market leader.

0:22.7

So we make a platform that enables companies to digitally transform their business end-to-end.

0:29.9

So if you're running IT, your employee experience, taking care of your customers,

0:35.2

or making your engineers and knowledge workers far more productive,

0:38.3

you can do it all on one platform with a consumer-grade user experience, and you can fundamentally transform how you run your company.

0:47.3

This is an enterprise software business.

0:49.3

Absolutely.

0:50.3

There are other enterprise software companies out there, Bill. Workday, Oracle, etc.

0:57.0

How is your company different?

0:59.0

What do you do that's different from some of those competitors?

1:02.0

What we do is we simplify the way companies run.

1:07.0

You know, Andy, in the 20th century, there were really good stuff for companies.

1:11.6

Some of them made financials, some of them were database companies, some of them did operating systems,

1:17.6

some of them did business applications, but all of them did so to serve a specific department.

1:22.6

That has created a lot of complexity because those legacy systems are now a half a century old.

1:30.3

So what companies want to do today is they want to radically improve their productivity.

1:35.3

So I give you an example.

...

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