I’d like to wish each of you, your family and loved ones a Happy New Year.
2022 threw up a whole set of new challenges for many of us, and while I was travelling the region in the past few months I learned, and re-learned, a few lessons that are helping us with our ’23 planning: four positives and two red flags.
I hope you find them useful.
Positive No. 1: Travel is back, as are certain Industries.
Airports and airlines are busy again, as people reacquaint themselves with the idea that in-person is still better than virtual. Related industries like retail, hospitality and logistics have also recovered well – although there are clouds on the horizon (see a “red flag” note below). Other industries like FSI, Telco, Healthcare, and Professional Services continue to be strong.
Positive No. 2: Customers want roadmaps to get more value
We’re done several advisory and roadmap engagements through the year, but the one that stands out for me is one we did for a healthcare customer, which we presented to them in November. It went down so well that we talked to roadmaps in every single meeting I had on the rest of my three-week trip, and the messaging landed every single time. Everyone wants a plan to get more value in these difficult economic times.
The important thing with a roadmap is that the value is not in the boxes – it’s in the arrows. Getting the foundation right unlocks much more value for customers, especially those that are trying to move a business value conversation forward, or are new to a business and has inherited someone’s else’s work.
Positive No. 3: Demand for operational efficiency is helping the “middle office” conversation land
Workflows help connect front office to back office, and is the “killer app” value proposition for ServiceNow at many customers. Having the one platform deliver the front end and middle office lets customers reduce other tools and become more operationally efficient.
An example of this is the work we’re doing at another healthcare company. We worked with them on their customer service process, and we’re now building workflows to ensure third party medical providers are paid for the work our customer sends them. An interesting and complicated set of middle office workflows that tie directly back to delivering great customer service.
Positive No. 4: Growing demand for risk and privacy management
GDPR laws seem to either have grown more teeth or are being enforced more rigorously, as we’ve seen a sharp increase in customers wanting to improve their GDPR and PII processes. This includes putting encryption into ServiceNow, or moving certain data out to Azure or AWS for remote access, both of which we have solutions for.
Cyber leaks in Australia recently have caused more business and board leaders want improved risk and cyber security processes, which can easily be addressed with ServiceNow’s integrated risk management modules.
Red flag: A rising incidence of burnout after a long year
I found this HBR article insightful and useful as we wind down and plan for next year: https://hbr.org/2022/11/6-ways-to-reenergize-a-depleted-team
We’ll be doing a joint webinar with ServiceNow in late Q1 where we will address this and more product-focused points as well. Ping me a DM to register early.
Red flag: Interest rate rises will slow consumers next year
Industries like retail, hospitality and construction will hit headwinds next year as interest rates start to bite. Expect consumer demand to slow, with unexpected secondary effects.
The opportunity for us all here is in two of the “Positive” points above – roadmaps for extracting more value from the platform and driving operational efficiency.
I’ll leave you with a few quotes from happy customers who have gone live with CloudGo recently, and look forward to working with you all again in the new year!
“Thank you, team, for the great support through this work. Your guidance, technical expertise and collaboration with my team was amazing.” – Sean McCormack, yourtown
“Thank you CloudGo for your guidance and support during our implementation.” – James Berne, Employsure
“Thank you for the successful implementation! I’d like to thank each one of you for the excellent support and effort to make this happen.” – Project Manager, Digital Bank