Value management
Summarize
Summary of Value management
Value management in ServiceNow is a continuous, end-to-end process that manages the entire value lifecycle—from envisioning and creating value to ongoing management, optimization, and validation of realized value. This process is integrated within the Impact Store app and enables organizations to track and measure the value derived from their ServiceNow products within the same instance where their applications operate.
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Objectives and outcomes
The lifecycle begins by defining high-level objectives linked to measurable outcomes, which illustrate value over time. Typically, this value cycle runs annually but can be adjusted by exception. Customers decide which objectives to prioritize and monitor progress through success metrics and capabilities that support their vision. This approach helps tell a transformation story using operational performance and value reports.
Customers can measure business objectives across multiple ServiceNow instances using filtering options available in Objectives and Outcomes and Outcomes Insights. Outcomes Insights provides performance recaps with success metrics and trend filters to effectively track objectives.
Two key value concepts are tracked:
- Incremental value: Improvements realized during the year after implementing ServiceNow.
- Overall value: The total comprehensive value added by the ServiceNow platform during the year.
Using Impact Value Management data collection apps
These apps offer detailed configuration options and implementation recommendations for collecting data essential to the value blueprint, outcome performance reports, and value reports within the Impact program. Available directly within your ServiceNow instance as part of the Impact package, these apps eliminate the need for separate downloads.
They leverage predefined data definitions in Performance Analytics (PA) to automate and streamline the collection of value metric data, enhancing accuracy and efficiency. This integrated approach provides a seamless experience, improving customer satisfaction and product evaluation in value management.
Value Reports
Value Reports assess the impact of improvements in key success metrics over time and translate these improvements into operational and monetary value aligned with your target objectives. Guided or advanced customers collaborate with ServiceNow squads to validate results, confirm assumptions and inputs, and quantify realized value in financial terms.
The value management constitutes a continuous loop of the end-to-end process of managing the value lifecycle, inclusive of envisioning value, creating value, ongoing management, optimization, and validation of value realized with the Impact store app.
Objectives and outcomes
- Decide which objectives you want to focus on and track your progress.
- See which outcomes, success metrics,and capabilities will best support your vision.
- Tell your transformation story with operational performance and value reports.
- Measure a selected business objective under the same product across multiple ServiceNow instances. Use the Instance option on the Objectives and Outcomes, and Outcomes Insights to filter objectives and outcomes by the ServiceNow instance.
Outcomes Insights
Performance recap includes a table displaying various success metrics.
- Incremental value: The value of the improvements realized during the year after implementing the ServiceNow platform.
- Overall value: The overall, comprehensive value that the ServiceNow platform has brought to your organization during the year.
Using Impact Value Management data collection apps
Impact Value Management data collection apps are a detailed overview of the Report configuration options and potential implementation recommendations for collecting the data required for your value blueprint, outcome performance report, and value reports that are part of the Impact program. See Set up Impact Value Management data collection apps for additional information on how to use the data collection apps to simplify and optimize the value metrics data collection process using Performance Analytics (PA).
The Impact Value Management data collection apps are available on the ServiceNow Impact Store Application. These apps are accessible directly on a your instance as part of the Impact package, eliminating the need for separate downloads from the store or individual content packs. By leveraging predefined data definitions within Performance Analytics (PA), customers can automatically collect essential data for Value Metrics. This streamlined approach enhances the accuracy and efficiency of data collection for value measurement, providing a seamless experience and improving both customer satisfaction and product evaluation in the Value management within Impact.
For more information on data collection toolkit, see Set up Impact Value Management data collection apps.
Value Reports
The Value report evaluates the impact of improvements in key success metrics over time and translates them into operational and monetary value. These metrics align with the target objectives and outcomes you have been working toward. If you are a guided or advanced customer, your squad will collaborate with you to validate results, confirm key assumptions and inputs, and quantify the realized value in financial terms.
For more information on value reports in Impact, see Value reports.