IDC names ServiceNow a Spend Orchestration Leader

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ServiceNow was just recently named leader in the inaugural IDC MarketScape for worldwide SaaS and cloud-enabled spend orchestration.  

For us, this report really showcases two things. One, it validates that we’re making the right investments in new innovations, such as generative AI, that address the needs of stakeholders across the source-to-pay function. We’re helping good people that are trapped in bad procurement processes - and that’s a great thing for our customers and for ServiceNow! 

And second, the report also bring into focus the shortcomings of current solutions in the source-to-pay market – which is great for everyone. Most point systems focus on the transaction. But there is often a lot of work before, and even post-transaction, that current procurement technologies can't really accommodate in a consistent and reliable way. Not to mention the need for more democratized access for casual or infrequent users. 

Today, companies need business systems designed for agility that simplify employee work across teams and automate away routine, manual tasks. Companies can no longer just throw labor at this problem. It doesn’t scale for the organization, it is soul-crushing for the individual, and it places an organization at risk due to the reliance on institutional knowledge to run the business. At ServiceNow, we’re orchestrating work across the enterprise. We started in IT, then added Employee, Customer, and Creator. Now, Finance and Supply Chain. 

Most procurement technologies are designed for the “expert” users in sourcing, procurement and finance. Ever experience having to go into an ERP system, as a casual user, to generate a purchase order? It’s not a great experience. But it’s one example of why more attention needs to be directed at making procurement activities easier and more accessible to the rest of the business. We all benefit from simple and seamless end-to-end work processes across the diversity of the people, functions, systems, and data in the source-to-pay space. 

ServiceNow customers are transforming. They’re moving away from trying to stitch together disconnected point products, legacy systems of record, and manual workarounds. Instead, they’re creating a more streamlined approach on the ServiceNow platform that delivers orchestrated end-to-end processes.

As a result, our customers are creating simple and effective experiences for all stakeholders and cutting their procurement cycle times in half, thanks to a single orchestration layer that lowers process learning curves and automates manual work. 

ServiceNow modernizes ERP-centric processes like source-to-pay by wrapping those processes with purpose-built workflows on the ServiceNow platform. These workflows are complemented with low-code capabilities that allow you to tailor the solution to your unique requirements – all on one platform. 

With Source-to-Pay Operations, you can: 

  

Reduce process learning curves 

Turn conversations into requisitions with Now Assist, making it easy for new or occasional users to follow the process. 

Boost procurement productivity 

Procurement professionals can make better decisions, faster, with personalized workspaces and AI-powered guidance.  

Automate manual work 

Speed cycle times by eliminating manual efforts like PO data entry, while reducing errors and opportunities for fraud. 

Transform with an AI platform 

Extend platform capabilities like case management, advanced work assignment, knowledge articles to transform more back-office operations with a single data model. 

Don’t let systems of record that were originally architected decades ago hold your company back. Give your employees a single experience layer that reflects the way work actually gets done in your organization. And easily tap the power of AI and transformation faster than you ever thought possible.  

Read the report