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Third Quarter Revenues Grew 61% Year-over-Year to $178.7 Million
“We had a solid third quarter as we continued to help our customers extend service management across the enterprise,” said Frank Slootman, president and chief executive officer, ServiceNow. “The opportunities for us to expand within IT, as well as deliver value throughout the business, significantly broaden our addressable market and growth potential.”
“Our strong third quarter performance included a record 11 deals greater than $1 million in annual contract value,” added Michael Scarpelli, chief financial officer, ServiceNow. “We also achieved our first quarter of billings greater than $200 million.”
For the full year 2014, we expect revenues to be in the range of $677 to $679 million, representing year-over-year growth between 59% and 60%. Our total annual revenues estimate consists of subscription revenues between $562 and $563 million and professional services and other revenues between $114 and $115 million.
Provides Rapid Deployment IT Service Management for Enterprises of All Sizes
Express offers a better way to run IT, providing administrators a single view of all service requests and enabling them to be more efficient in addressing the work required to fulfill those requests. IT can manage the requests they get from across the business through an easy-to-use interface that runs on any mobile or computing device.
ServiceNow is acquiring DxContinuum, a Silicon Valley-based, machine-learning company, to embed its technology in the ServiceNow® platform and across its products. DxContinuum’s predictive models will add greater efficiency in categorizing incoming requests from people and machines automatically.
By applying DxContinuum’s machine-learning algorithms to each customer’s unique data set, ServiceNow can train machines on how to route IT, HR, customer service or other requests with a high level of accuracy. For example, the models could set the category of the inquiry and assign the ticket to the right team, as well as calculate associated risks. When enterprises better predict outcomes and automate actions, they can reduce costs dramatically and speed time-to-resolution.
“ServiceNow is at the forefront of intelligent automation,” said Dave Wright, chief strategy officer, ServiceNow. “Adding DxContinuum to the ServiceNow platform will move much more of the heavy lifting of work processes to machines, freeing people to focus on the highest value work.”