Market Milestone: ServiceNow Buys VendorHawk and SaaS Management Comes of Age

Industry: Software Asset Management

Key Stakeholders: CIO, CFO, Chief Digital Officer, Chief Technology Officer, Chief Mobility Officer, IT Asset Directors and Managers, Procurement Directors and Managers, Accounting Directors and Managers
Why It Matters: Software-as-a-Service (SaaS) is now a strategic IT component. As enterprise SaaS doubles in market size over the next three years, this complex spend category will continue to expand beyond the ability to manually manage it
Top Takeaways: With this acquisition, ServiceNow will have a cutting-edge & converged Software Asset Management solution for both SaaS and on-premises applications in 2019. Enterprise organizations managing over $25,000 a month should consider an enterprise SaaS vendor management solution to optimize licenses, de-duplicate vendor categories, and gain enterprise-grade governance.

With ServiceNow’s acquisition of VendorHawk, the era of SaaS Vendor Management is emergent.

ServiceNow Acquires VendorHawk

On April 25th, 2018, ServiceNow announced its acquisition of SaaS Vendor Management solution VendorHawk in an all-cash transaction scheduled to close in April. This acquisition highlights the increasingly strategic role of SaaS from an IT service management perspective and validates the need for Software Asset Management solutions to support SaaS. In addition, this acquisition continues a string of acquisitions that ServiceNow has made over the past year including acquisitions of:

• Qlue, an artificial intelligence framework for customer service
• Telepathy, a design firm focused on massive adoption of applications
• SkyGiraffe, a no-code mobile app development platform used to make all ServiceNow applications mobile-friendly

The VendorHawk acquisition falls in line with these acquisitions in that VendorHawk will help enterprises to support the widespread adoption of SaaS.

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