hey everyone welcome back to my channel it is so good to have you here we're gonna start off with a warning tonight this video is thoughts and opinions based on years of tenure in the ServiceNow ecosystem I am NOT a financial adviser and nothing said here should be interpreted as investment advice in full disclosure I do own a small number of ServiceNow shares now let's talk about whether ServiceNow can weather the storm with the Cova 19 crisis throwing confusion and pessimism into many of our lives many are asking themselves which companies are well positioned for long-term survival and post-crisis growth here's a few reasons I think ServiceNow is well positioned to weather the storm that you can't get on a spreadsheet number one crisis proving ground ServiceNow has struggled to widen the perception of just being an IT service management tool since its inception but listen carefully to the ServiceNow stories coming out of the crisis first we have the for emergency response application ServiceNow release for free in the early stages of the crisis second check out the visibility it's getting in this tweet from Kim Kardashian if you poke around you can find other stories of banks using ServiceNow to help process SBA loans and in the midst of the crisis ServiceNow is proving its workflow platform value proposition number two purity of intent service now is its own company it's not just some other business unit in a bigger entity that means in lean times they won't have to compete for vision or resources as just another app in the portfolio ServiceNow knows who it is and what it's doing and there's no arbitrary larger corporate interference to worry about contrast this with HP and the open view Service Desk tool ServiceNow is original competitor by 2005 a VSD had become a byword for couldn't build a worse app if we tried well the profitable Obst business unit stagnated and died under uninterested leadership HP's lack of intent and vision guaranteed service now is ascendance even during the 2007 financial crisis number three acquisition strategy because of its purity of intent service now has a long standing and specific strategy for acquisitions rebuild in platform the single platform was one of its original selling points and early adopters of ServiceNow may still remember the Frankenstein app slide from the sales pitches while other brands buy apps and run them as unintegrated business units ServiceNow deliberately rebuilds in platform to create a singular experience this means that ServiceNow stek acquisitions is really more of an aqua hire situation using the most proven minds in a market to take the singular ServiceNow platform places it couldn't have gone before contrast this with Salesforce whose multibillion-dollar acquisition of tableau hasn't really made either product any better oh sure it's a nice profitable business unit under the brand but when push comes to shove whether it's generating good revenue or not it does create internal competition for executive and product leadership skills exactly which businesses Salesforce in number four transitions and alternatives even if we could imagine an exodus from ServiceNow there isn't a viable alternative with the same scope freshdesk freshservice and Atlassian offer cheaper ticketing tools but they don't have the same breadth of serviceable process areas like ServiceNow does and even if they did switching workflow platforms mid-flight and managed corporate response to post corona economics carries significant cost and risk years more expensive than the license savings a to achieve to put it bluntly transitioning tools at this scale costs tremendous amount of money and where is that money gonna come from number five leaner meaner features my formula for this is simple post kovat 19 will have a shrunk economy as businesses and consumers scale back spending to replenish their savings lower their new debt and all sorts of other reasons with less consumer spend companies everywhere will be looking to cut costs the smart ones will look to things like application consolidation increased automation and smarter operations in general you can abstract that by saying they'll want more things that the ServiceNow platform is best at providing now consider during similar economic tough times the 2007 financial crisis saw ServiceNow grow rapidly better minds and me can figure out how much more growth room there is my point is that ServiceNow has already been fire tested bad markets already showed their love to ServiceNow if you're a financial adviser portfolio or asset manager and we should discuss ServiceNow further you can reach me at ramp dot plus ramp dot plus is an expertise on-demand platform where you can gain industry insights in a convenient but more importantly compliant manner check the description below for the link to my profile if you'd like to sponsor this channels content contact me via the email address pictured here if you'd like to contribute 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