Streamlining operations and maximizing resource utilization are crucial for business success. To help businesses achieve this, ServiceNow, a leading provider of cloud-based digital workflow solutions, comes into play. ServiceNow empowers organizations to automate workflows, enhance service delivery, and ultimately achieve greater efficiency. However, quantifying the business value of implementing ServiceNow can be challenging.
ServiceNow understands the complexities of quantifying the impact of new solutions, and that’s where the ingenious ServiceNow Value Calculator comes in. This handy tool takes the guesswork out of the equation, providing a personalized assessment of the potential gains your organization can expect.
Here’s a breakdown of what the ServiceNow Value Calculator offers and how it works:
Table of Contents
What is the ServiceNow Value Calculator?
Think of a tool that can tailor the potential benefits of ServiceNow solutions specifically to your business. That’s the magic behind the Value Calculator. By answering a few targeted questions, you gain valuable insights into the quantified impact ServiceNow solutions can have on your organization.
How Does the ServiceNow Value Calculator Work?
There are a few simple steps that you must follow, to get the ServiceNow value calculator working to forecast the value you can derive out of a ServiceNow investment:
- Focus on Your Needs: The first step involves selecting a solution that aligns with your current challenges. ServiceNow offers a wide range of solutions, from IT Service Management, IT Operations Management, Global Business Services, etc. Choose the area that best reflects your priorities.
- Answer Quick Questions: The value calculator then guides you through a series of brief questions designed to understand your specific needs and current processes. This might involve aspects like the size of your organization, or the volume of tasks handled within your chosen solution area.
- Personalized Business Value Brief: Once you’ve answered the questions, the value calculator gets to work. It generates a downloadable business value brief tailored to your business. This report showcases the quantified potential benefits you can expect from implementing ServiceNow solutions.
- Breakdown by Category: The business value brief doesn’t just throw numbers at you. It breaks down the potential benefits into specific categories, giving you a clear understanding of how ServiceNow can improve your operations in various areas.
- Trustworthy Results: The metrics used in the Value Calculator are derived from credible sources. ServiceNow leverages data collected from Forrester Consulting Total Economic Impact™ studies and gathers additional insights from customer interviews. This ensures you receive reliable information to support your decision-making process.
A Sample Value Calculation Assessment
Let’s delve deeper into how the ServiceNow Value Calculator delivers its insights. We have tested it out with some default data. Here’s an example of the kind of assessment you can expect, based on the results we fetched:
Set-up
- ServiceNow Solution Selected: IT Service Management (ITSM)
- Business Questions and the Sample Data We Plugged In:
- Annual Revenue in millions: $2000
- Annual Incident Volume: 60,000
- Annual Unplanned Outages: 10
- Annual Request Volume: 40,000
- Annual Change Volume: 15,000
Results:
The ServiceNow Value Calculator processes your input and generates an interactive dashboard with clear visualizations. In this example, the predicted annual value generated by implementing ServiceNow ITSM could be around $6,607,390.
Detailed Breakdown:
Beyond the headline figure, the Value Calculator provides a downloadable Business Value Brief. This report dives deeper, revealing a breakdown of the potential benefits categorized by their impact on your organization. Here’s what we got, from the sample inputs above:
- Reduced Incident Volume Worked (IT Fulfiller Productivity) – 12.8% ($843,600): This category highlights the potential for increased efficiency for your IT staff. ServiceNow ITSM can leverage automation and machine learning to streamline incident resolution, freeing up valuable time for your team.
- Increased Change Throughput (Business Gain) – 11.4% ($750,000): Implementing ServiceNow can establish a centralized system for managing all ITIL processes, including requests, incidents, problems, and changes. This streamlined approach can significantly improve the efficiency and success rate of change management.
- Reduced Business Disruption from Outages (Volume) – 10.6% ($700,000): ServiceNow ITSM’s reporting, and analytics capabilities can help you identify trends in incidents and outages. This proactive approach allows you to address potential issues before they escalate, minimizing business disruptions.
- Accelerated Request Fulfillment (End User Productivity) – 10.6% ($699,840): Managing user requests efficiently is crucial. ServiceNow ITSM provides tools to monitor knowledge base usage, identify gaps, and optimize processes. This translates to faster and more efficient request fulfillment for your end users.
- All Other Benefits – 54.7% ($3,613,950): This category encompasses a range of additional benefits not explicitly listed above. These might include improved employee satisfaction, enhanced regulatory compliance, and better communication between IT and the business.
The Power of Information
The ServiceNow value calculator empowers you with valuable insights into the potential return on investment (ROI) associated with implementing ServiceNow solutions.
With the Business value brief as your guide, you’ll be well-equipped to make informed decisions about taking your organization’s workflows to the next level.
Here’s how the power of information provided by the value calculator translates into tangible benefits:
- Strategic Decision Making: Imagine having a crystal ball that reveals the potential impact of a new technology on your organization. The ServiceNow value calculator acts as just such a tool. By providing a quantified assessment of potential benefits, you can make strategic decisions about resource allocation and investment in digital workflow automation with greater confidence.
- Building a Compelling Case: Gaining buy-in from stakeholders often requires a compelling case. The detailed breakdown provided in the Business Value Brief equips you with the data and specific examples needed to convince decision-makers. You can clearly demonstrate the potential return on investment (ROI) and showcase how ServiceNow solutions can address specific pain points within your organization.
- Risk Mitigation: Implementing new technologies can be a leap of faith. The value calculator helps mitigate risk by providing realistic predictions of potential benefits. Having this information upfront allows you to identify potential challenges and develop strategies to address them before implementation.
- Continuous Improvement: The insights gleaned from the value calculator aren’t just for initial decision-making. This information serves as a valuable benchmark for measuring the actual impact of implementing ServiceNow solutions. By comparing predicted benefits with real-world results, you can continuously refine your processes and maximize the return on your investment.
To sum up, the ServiceNow value calculator is a powerful tool that goes beyond basic number-crunching. It empowers you with the knowledge and insights needed to make strategic decisions, build a strong case for change, and ultimately transform your business through the power of digital workflows.
As a ServiceNow Premier Partner, KANINI offers expertise in implementing and optimizing ServiceNow solutions tailored to your organization’s needs. Our experts can help you in using the ServiceNow Value Calculator to assess the business value of your investment in ServiceNow. Contact us today to learn more about what we can do for you!
Author
Yoganandh Mookkaiah
Yoganandh is the Head of Delivery & Customer Success – ServiceNow at KANINI. He has a successful track record of 18+ years of experience in spearheading diverse teams, streamlining day-to-day operations by effectively incorporating best practices, and championing new services & technologies. Yoga is heading the team of Project Managers, ServiceNow Consultants, and Customer Success Managers.
