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ServiceNow Wins Multiyear Workflows Deal from NBA and WNBA
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ServiceNow, Inc (NOW - Free Report) recently received a multiyear workflows solutions deal from National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) to ensure safer return to play.
NBA and WNBA will deploy ServiceNow’s Employee workflow solutions to carry out the health-check procedures as well as other manual procedures at the venues to minimise risk transmission in the wake of the COVID-19 pandemic as these leagues begin their tournaments.
Further, ServiceNow added that the NBA and WNBA were able to health-screen 2,600 individuals who entered the campus in Florida in varying capacities as visitors, vendors or campus personnel. The company also processed 13,000 essential documents at the venue.
Going ahead, both NBA and WNBA leagues will utilize ServiceNow’s Software Asset Management solution to ramp up workloads and streamline software expenditures. Customer Service Management (CSM) solutions will be utilized to offer enriched experiences for players and their trainers along with fans.
By deploying ServiceNow’s Integrated Risk Management solutions, the leagues can offer risk and compliance management solutions across its digital operations. IT Operations Pro solutions will help NBA and WNBA to rationalise cloud spend and provide greater visibility into the leagues’ IT infrastructure.
The NBA and WNBA deals are a major win for ServiceNow as it highlights the strength of its innovative workflows solutions. Moreover, higher adoption of ServiceNow’s offerings is likely to drive the top line in the upcoming days and instil investors’ optimism in the stock.
Notably, shares of the company have returned 82.3% on a year-to-date basis compared with the industry’s rise of 33.8%.
Increasing Demand for Return to Work Solutions Augurs Well
The Covid-19 outbreak compelled governments across the world to announce lockdowns, which prompted the stay-at-home and work-from-home wave.
As the gradual unlocking phase begins, with economies re-opening and people commencing to go back to work, employers will need to ensure highest safety standards for their employees. This will drive demand for ServiceNow’s return to workplace solutions.
ServiceNow’s WorkPlace Suite and dashboard, launched in May 2020, offers its customers various solutions like Workplace Safety Management, Employee Health Screening and Workplace PPE (personal protective equipment) Inventory Management along with the latest Contract Tracing app to make workplace environment safe as employees start returning to work.
Recently, ServiceNow announced the availability of Workplace Service Delivery solutions to offer enhanced digital experiences to employees driving productivity in evolving workplace trends.
Prior to that, ServiceNow rolled out new workflows inbuilt with Microsoft’s (MSFT - Free Report) Teams app to improve employee productivity with faster case resolution and seamless self-service.
Last month, ServiceNow collaborated with Cisco’s (CSCO - Free Report) DNA Spaces to augment its Contact Tracing app.
Competitive Scenario
Tech companies are making efforts to capitalize on these evolving business opportunities due to the changing workspace needs amid the coronavirus outbreak. The tech companies are utilizing upcoming technologies like Big Data, AI and Internet of Things for management amid the pandemic.
Workday (WDAY - Free Report) and International Business Machines Corporation jointly rolled out a return-to-work solution that combines IBM Watson’s AI capabilities with Workday’s HCM (Human Capital Management) system.
Microsoft inked deal with UnitedHealth Group to roll out ProtectWell Protocol and App to ensure safety of employees. Apart from these, Everbridge, Pegasystems, Infosys and Hewlett Packard have also unveiled their return-to-workplace solutions.
Given the increasing demand for safe workplace solutions, the competition in this market is likely to heat up in the coming days.
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Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
ServiceNow Wins Multiyear Workflows Deal from NBA and WNBA
ServiceNow, Inc (NOW - Free Report) recently received a multiyear workflows solutions deal from National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) to ensure safer return to play.
NBA and WNBA will deploy ServiceNow’s Employee workflow solutions to carry out the health-check procedures as well as other manual procedures at the venues to minimise risk transmission in the wake of the COVID-19 pandemic as these leagues begin their tournaments.
Further, ServiceNow added that the NBA and WNBA were able to health-screen 2,600 individuals who entered the campus in Florida in varying capacities as visitors, vendors or campus personnel. The company also processed 13,000 essential documents at the venue.
ServiceNow, Inc. Price and Consensus
ServiceNow, Inc. price-consensus-chart | ServiceNow, Inc. Quote
Going ahead, both NBA and WNBA leagues will utilize ServiceNow’s Software Asset Management solution to ramp up workloads and streamline software expenditures. Customer Service Management (CSM) solutions will be utilized to offer enriched experiences for players and their trainers along with fans.
By deploying ServiceNow’s Integrated Risk Management solutions, the leagues can offer risk and compliance management solutions across its digital operations. IT Operations Pro solutions will help NBA and WNBA to rationalise cloud spend and provide greater visibility into the leagues’ IT infrastructure.
The NBA and WNBA deals are a major win for ServiceNow as it highlights the strength of its innovative workflows solutions. Moreover, higher adoption of ServiceNow’s offerings is likely to drive the top line in the upcoming days and instil investors’ optimism in the stock.
Notably, shares of the company have returned 82.3% on a year-to-date basis compared with the industry’s rise of 33.8%.
Increasing Demand for Return to Work Solutions Augurs Well
The Covid-19 outbreak compelled governments across the world to announce lockdowns, which prompted the stay-at-home and work-from-home wave.
As the gradual unlocking phase begins, with economies re-opening and people commencing to go back to work, employers will need to ensure highest safety standards for their employees. This will drive demand for ServiceNow’s return to workplace solutions.
ServiceNow’s WorkPlace Suite and dashboard, launched in May 2020, offers its customers various solutions like Workplace Safety Management, Employee Health Screening and Workplace PPE (personal protective equipment) Inventory Management along with the latest Contract Tracing app to make workplace environment safe as employees start returning to work.
Recently, ServiceNow announced the availability of Workplace Service Delivery solutions to offer enhanced digital experiences to employees driving productivity in evolving workplace trends.
Prior to that, ServiceNow rolled out new workflows inbuilt with Microsoft’s (MSFT - Free Report) Teams app to improve employee productivity with faster case resolution and seamless self-service.
Last month, ServiceNow collaborated with Cisco’s (CSCO - Free Report) DNA Spaces to augment its Contact Tracing app.
Competitive Scenario
Tech companies are making efforts to capitalize on these evolving business opportunities due to the changing workspace needs amid the coronavirus outbreak. The tech companies are utilizing upcoming technologies like Big Data, AI and Internet of Things for management amid the pandemic.
Workday (WDAY - Free Report) and International Business Machines Corporation jointly rolled out a return-to-work solution that combines IBM Watson’s AI capabilities with Workday’s HCM (Human Capital Management) system.
Microsoft inked deal with UnitedHealth Group to roll out ProtectWell Protocol and App to ensure safety of employees. Apart from these, Everbridge, Pegasystems, Infosys and Hewlett Packard have also unveiled their return-to-workplace solutions.
Given the increasing demand for safe workplace solutions, the competition in this market is likely to heat up in the coming days.
ServiceNow currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
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Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>