Amazing asset management tool

What are the best aspects of this product?

ServiceNow made a spreadsheet for tracking our expenditures obsolete because this is so much better and more efficient. We can now automatically monitor and manage our hefty vendor spend while at the same time adding full transparency to our business processes. This helps with accountability and lets every business unit predict and control its operating expenditures through a centralized platform.

What aspects are problematic or could work better?

ServiceNow has been a great product from the start until now, so there's nothing I can't say I don't like at all. The vendors listen to the feedback of their customers and they even release monthly updates and patches. This means that more features are being added very quickly to the product, making it more robust than it already is.

What specific problems in your company were solved by this product?

The importance of wisely and efficiently managing vendor spend is becoming more apparent thanks to the increasing complexity of how the SaaS solutions are being handled. The traditional spreadsheet method of tracking renewal dates, terms, and other important information won't do anymore, even for small-scale businesses. Big companies like us consisting of many departments and distributed IT governance would be in deep water without excellent asset management tools like ServiceNow to track all the expenses and make a centralized forecast of opex while allowing decentralized governance of different branches.

Are you a current user of this product?

Yes