ServiceNow says India among its fastest growing markets

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ServiceNow says India among its fastest-growing markets

Mumbai: Digital workflow company ServiceNow which offers a cloud automation platform used for IT service and other functions said that India is one of its fastest-growing markets with more companies looking to make the digital shift following the pandemic. The company is looking to accelerate its business from India.

The company’s third-quarter financial results reported earlier this week were better than analyst expectations and were led by growth in subscription revenue.

Arun Balasubramanian, Managing Director India & SAARC in a chat with ET said, “India has been one of the fastest-growing markets for ServiceNow so we continue to expand our customer base rapidly. At the same time, we are also expanding our presence in the India development center, which is the second-largest development and research center globally.”

The company’s Hyderabad center has also been serving global customers, added Balasubramanian, “Since the last two years, ServiceNow has tripled the employee base across the Indian technology centers and the talent pool is getting more opportunities to serve the global customers.”

Indian companies across industries like telecommunication, banking, manufacturing have been signing up for the ServiceNow platform to digitally transform operations and drive productivity, according to him.

In a recent survey released by the company (fielded by Wakefield Research) India emerged as the country which used the maximum number of workflow digitalization tools, compared to other countries.

Indian companies used the lowest number of offline workflow tools, preferring to use digital tools instead.

Commenting on the survey, Balasubramanian said, “Up to 74% of India’s executives said that their business continues to use offline workflows, lowest among all other countries surveyed (US 89%, UK 98%, Australia 98%). While the figure indicates greater adoption of digital workflows in India there is clearly plenty of scope for greater utilization of digital work processes.”

The companies surveyed included those that employed over 500 persons across verticals like telecommunication, banking, financial services among others.

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