MAAT INDEX

CLAIM #68847 · NOW (NOW) · 2023Q3 earnings call · Oct 25, 2023 · due Dec 31, 2033

But I want to leave you with one thought. We're only getting started. With federal, with state, with local, the business transformation that's going to go on in the next decade across all of those categories will play beautifully into our growth agenda, and we'll continue to service it with 100% customer satisfaction.

Bill McDermott · CEO

PENDING
graded after results covering Dec 31, 2033 are reported

In context

Bill McDermott (CEO): Yes. John, I'll start off and then let Gina give you some of her color as well. But our federal business, as I said, had the biggest quarter in ServiceNow's history with 75% year-over-year growth in NNACV, and we had 19 deals that were more than 1 million, including three over 10 million with the US Air Force as the third biggest deal in the history of ServiceNow. What we're seeing is across all areas, federal agencies are looking to consolidate contracts, point solutions, the messy middle, and they really want to standardize on a platform with a core set of products that they can grow with. Our GenAI offerings, for example, are really reinforcing our ability to help accelerate their transformation journey, and they're seeing tremendous opportunity in GenAI on our platform. We're already seeing early adopters show an interest in domain-specific models, which offer better security, as CJ said, and we're working with some agencies that care a lot about security. I think it's a tribute to ServiceNow's engineering and the way ServiceNow runs our cloud and the manner in which we care for our customers at a deep technical level and they know that they can count on that. Every agency where we've done business is highly referenceable and they're telling our story to other agencies for us. It's really a beautiful force multiplying situation. But I want to leave you with one thought. We're only getting started. With federal, with state, with local, the business transformation that's going to go on in the next decade across all of those categories will play beautifully into our growth agenda, and we'll continue to service it with 100% customer satisfaction. We are fired up with what we're able to do to transform government and make it run like a best-run business.

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SEC filings for NOW · Claim quote is verbatim from the 2023Q3 earnings call.