ServiceNow (NYSE: NOW) Monday announced a new industry solutions strategy to deliver workflows directed towards companies in specific industries address their unique digital transformation challenges and create value at scale. ServiceNow initially will focus on developing industry solutions for banking and telecommunications and will work with strategic partners to support its industry solutions journey and integrate those solutions in the customer environment.
The software company also announced acquisitions of Israel-based Loom Systems, and California-based Passage AI.
The Passage AI transaction will advance ServiceNow’s deep learning AI capabilities and will accelerate its vision of supporting all major languages across the company’s Now Platform and products, including ServiceNow Virtual Agent, Service Portal, Workspaces and emerging interfaces.
Passage AI’s conversational AI platform is built on deep learning models that can be trained to understand text in all major languages. Bringing together Passage AI’s conversational AI capabilities with it’s Now Platform and digital workflow capabilities, ServiceNow will expand its chatbot support for non–English languages.
The Loom Systems transaction will extend ServiceNow’s AIOps capabilities, giving customers deeper insights into their digital operations so they can prevent and fix IT issues at scale before they become problems. With Loom Systems, ServiceNow will increase customers’ ability to apply AI to their knowledge base of issues and fixes for better insights into root causes and allow them to automate remediation tasks, reducing the number of Level 1 IT incidents.
“Work flows more smoothly when people can get things done in their native language,” said Debu Chatterjee, senior director of AI Engineering at ServiceNow. “Building deep learning, conversational AI capabilities into the Now Platform will enable a work request initiated in German or a customer inquiry initiated in Japanese to be solved by Virtual Agent. Passage AI’s technology will enable us to accelerate our vision of empowering great employee and customer experiences by delivering great workflow experiences. ServiceNow believes in making work flow more smoothly across the enterprise, in all major languages.”
“As a strategic partner to the world’s largest enterprises, ServiceNow is enabling digital transformation and driving customer success,” said Gabby Menachem, CEO of Loom Systems. “By joining forces, we have the unique opportunity to bring together our AI innovations and ServiceNow’s AIOps capabilities to help customers prevent and fix IT issues before they become problems. We are excited to join the ServiceNow team to help IT organizations respond at the speed of today’s digital business.”
“Today, IT departments struggle to meet performance expectations and keep pace with the growth in demand for new, great digital services,” said Jeff Hausman, vice president and general manager of IT Operations Management at ServiceNow. “By bringing together Loom Systems’ ability to analyze log and metrics data with ServiceNow’s AIOps and workflow automation capabilities, IT departments will be able to proactively pin–point and resolve operational issues, enabling seamless experiences for their customers and employees.”
Loom Systems was founded in 2015 by CEO Gabby Menachem, CTO Ronny Lehmann and Vice President of Product Dror Mann.
Company expands partnerships with Deloitte and Accenture to address industry–specific digital transformation challenges
ServiceNow’s new banking solution targets middle–to–back office operations and is designed to help banks deliver seamless customer experiences throughout the enterprise that drive customer loyalty. The company’s new telecommunications solution will align customer care and service assurance by proactively anticipating issues and addressing them quickly while maximizing availability and quality of service.
“Every company around the world aspires to deliver great experiences that drive fierce customer loyalty and create powerful employee engagement,” said Bill McDermott, president and CEO, ServiceNow. “And companies across many industries are turning to ServiceNow to help them transform their business to unleash productivity and fuel innovation. By creating industry–specific solutions, delivered through a partner–led model, we can better address the unique challenges that companies in key vertical markets face as they look to digitally transform their businesses.”
Deloitte will become the “Lead Launch” Partner for ServiceNow’s banking solution, working with ServiceNow to implement new banking workflows.This builds on Deloitte’s existing role as Lead Launch Partner for ServiceNow’s Finance Close Automation product, which was announced last year at ServiceNow’s Knowledge 2019 conference.
“Our Financial Services clients are looking to leverage technology to rethink customer experiences, and banks in particular need to transform underlying operations to make that happen faster,” said Brian Johnston, Financial Services Industry Leader, and Principal, Deloitte Consulting LLP. “As part of our strategic collaboration with ServiceNow, we are combining Deloitte’s industry know how with ServiceNow’s intelligent and intuitive cloud platform to deliver solutions that help our Financial Services clients move at the speed of digital business.”
Accenture will become the “Lead Launch” ecosystem partner for ServiceNow on its new telecommunications solution. Accenture will also help guide ServiceNow’s product roadmap and create telecommunications–specific digital workflow solutions to help support software defined networking, especially vital for new connected services enabled by 5G.
“With 5G being one of the highest priorities and most significant investments for service providers, they are seeking a competitive advantage by establishing greater agility and scale in today’s cloud–first world,” said Peters Suh, North America Communications Industry Lead at Accenture. “Through our expanded ecosystem partnership with ServiceNow, we’re better positioned than ever to help companies elevate solutions and support the transitions of the telecommunications industry.”
ServiceNow’s solutions for banking and telecommunications are expected to be available later this year. The company expects to announce solutions for additional industries, including healthcare, manufacturing, media, technology and others, in the future.
Headline image by Donny Gonzo – https://www.flickr.com/photos/[email protected]/46814417112/, CC0, https://commons.wikimedia.org/w/index.php?curid=76369260