ServiceNow is a US-based software company headquartered in Santa Clara, CA. It creates a cloud computing software that aids other companies in managing their digital workflows, especially for vast, enterprise projects. Did you know that ServiceNow recently held the top spot for being the most innovative company in the world, according to Forbes?
Santa Clara, CA
Public, Independent Company of NYSE
ServiceNow was founded by Fred Luddy in 2003, and he called it Glidesoft, Inc. back then. For nearly two years, Luddy handled all the operations of the company alone. It was only in late 2005 that he was able to hire a few good employees to take up more clients, and by the 2010s, he was already raking in the moolah. Currently, ServiceNow generates revenue of $4.5 billion.
ServiceNow Similar Companies:
Salesforce, Oracle, Workday, SAP SE, Splunk, SolarWinds, Zendesk, Atlassian, ConnectWise, Spiceworks.
Who Is ServiceNow’s Biggest Competitor?
The biggest competitor of ServiceNow is Salesforce. The company is based in San Francisco, CA, and it provides a wider range of services than ServiceNow’s. Primarily dealing in cloud computing, you can find various related services like CRM software, marketing automation, and analytics by Salesforce, apart from offering pure enterprise applications. The company’s revenue presently stands at a whopping $21.25 billion!
How ServiceNow Makes Money
ServiceNow makes money by providing their enterprise software for a subscription. A maximum part of its revenue comes from subscriptions, approximately 95%. The remaining 5% is derived from their professional services like employee training and consultation about using their software correctly.
Basically, it is a Software as a Service (SaaS) platform. But the one major thing that sets it apart from its competitors is that it doesn’t cater to a local resource. It can be easily used across several available networks.
Also called Enterprise Application Software (EAS), enterprise software doesn’t cater to individual employees at a company, but aims to serve the entire company itself. While the individual employees still need to be trained in the workings of the software, its primary goal remains the greater good, something on the lines of enterprise resource planning, online payment processing, project management, etc.
ServiceNow is among the most innovative enterprise software providers in the world. Even the prestigious Forbes magazine proclaimed as much in 2018, ranking ServiceNow right at the top!
Salesforce is one of the leading cloud computing providers in the world. It was founded in 1999 as a SaaS provider, and Marc Benioff, an Oracle executive, was one of the founders. The year 2004 marked the rapid growth of Salesforce in the software industry, with several investors chipping in since its IPO on NYSE.
And as the company grew to great lengths, it acquired several other competitors along the way, including Slack, one of the leading business communication platforms in the world.
Cloud Computing / Enterprise Software
The enterprise software services of Salesforce have a broader range than many of its competitors. Its CRM service itself includes a number of categories like analytics, cloud marketing, Work.com, and even a vaccine cloud. Its primary services are the management of cases, tasks, and issues. They collaborate with huge companies like Accenture and IBM to make Salesforce’s software an integral part of their businesses.
Any software or cloud computing discussion is incomplete without Oracle. It is the second-largest software firm in the world and THE largest in terms of revenue in our list. Indeed, its revenue is almost double that of Salesforce – a little more than $40.4 billion.
The company was initially founded under the name, Software Development Laboratories (SDL), way back in 1977, by Larry Ellison, Bob Miner, and Ed Oates. And since the Oracle Database had grown so rapidly over the years, the company’s name was officially changed to Oracle Systems Corporation in 1983.
The company was changed to its present name, Oracle Corporation, about 12 years later. At the moment, it is headquartered in Austin, TX, and has a staggering 132,000 employees under its wing.
Oracle is prominent in a number of industries, including cloud computing, hardware, consulting, and business software. But most of its revenue stems from enterprise software services. Its products include, but aren’t limited to, cloud apps like Oracle ERP, EPM, and HCM, cloud business software like NetSuite, and in-company premises apps like Oracle’s PeopleSoft and E-Business Suite.
Workday generates revenue almost similar to that of ServiceNow – $4.3 billion. It is an enterprise software company founded by two ex-employees of PeopleSoft soon after its incorporation to Oracle. David Duffield, the then CEO of PeopleSoft, and his chief strategist, Aneel Bhusri, got together to lay their claim in one of the most competitive industries on the globe, enterprise software.
Cloud Computing / Enterprise Software
Workday creates cloud-based software and offers it to its clients on a subscription basis. The company was founded quite recently, in 2005, but due to its numerous multi-year subscriptions, it reached the $1 billion mark in just about 10 years. It owns data centers in several parts of the world, but it also utilizes Amazon Web Services, to boost its global expansion.
When it comes to ERP software, we Americans rule the roost. But there’s a German company that has been making headways into the industry since its inception in 1972 – SAP SE. Its headquarters lie in Walldorf, Germany. It offers almost every service that the top American corporation, Oracle, does. Indeed, its revenue of over $31 billion speaks for itself!
SAP’s ERP, CRM, and HANA products are most popular in the market, and its cloud platform is one of the most sought-after in the trade. There is a reason why SAP is the third-largest software company in the world. And that reason is its enterprise service-oriented products.
Splunk is an American cloud computing company that mainly deals in data analysis software. Founded by Michael Baum, Rob Das, and Erik Swan in 2003, it quickly became one of the most profitable ventures in the 2010s. Its revenue stands at $2.36 billion, and it is based in San Francisco, CA.
Splunk’s innovative software borders on Artificial Intelligence to create and index real-time data to generate the required results. Data analytics forms the core of its business structure.
SolarWinds is mostly into network monitoring that helps create relevant software for various businesses. It has its headquarters in Austin, TX, and it contributes a revenue of around $938 million to the overall software industry. Its employee number is 3200 and counting.
Software is a pretty vast industry, and network monitoring is a small part of it. Still, SolarWinds rules over almost every other software company in this niche. The firm was founded in 1999 by two brothers, Donald and David Yonce.
Zendesk was founded in Copenhagen, Denmark, but its operations were eventually shifted to the United States due to conditions placed by venture capitalist investors. It presently generates revenue of $816 million and is headquartered in San Francisco, CA.
SaaS is the main offering of Zendesk. It primarily deals in customer support and sales, but its services extend to social media communications platforms as well.
An Australian software company that specially deals directly with software developers and company managers. Atlassian’s main product, Jira, is used all around the world by various businesses. The company was founded in 2002, and its revenue lies somewhere around the $2 billion mark.
With some really amazing products like Jira, Confluence, Trello, Sourcetree, and Fisheye under its belt, Atlassian has grown into one of the largest software providers in the world.
ConnectWise primarily provides security software services. With the help of their software, companies can control and monitor their devices from anywhere. The company was established in 1982, with headquarters in Tampa, FL.
Focusing on business security software, ConnectWise has become an industry leader in the trade. It allows remote access to customers for various devices. The company’s revenue is around $243 million.
Spiceworks Ziff Davis provides IT solutions to businesses in the niches of advertising, market research, and lead generation. It is based in Austin, TX, and was founded in 2020. Its revenue is somewhere around $1.3 billion.
Spiceworks primarily deal with marketing and sales software. Their modern marketing strategies make them stand apart from their competitors.
The Top 10 ServiceNow Competitors are Salesforce, Oracle, Workday, SAP SE, Splunk, SolarWinds, Zendesk, Atlassian, ConnectWise, Spiceworks. Together, they have raised over $109 billion between their estimated 346,450 employees. ServiceNow has more than 15,000 employees, and it is one of the most innovative companies in the trade.
Darrell Burges - Business Analyst & Technical Writer
Darrell Burges is a skilled business analyst and a technical writer for WCS. Based on his 5+ years of experience, he writes in-depth articles about competing companies and encourages individuals to explore alternatives in the business world. He is the one who knows how to engage you in the world of competitors and explain complex concepts in simple terms.