The Importance of ServiceNow’s Enterprise Service Management in the Hybrid Era

The global pandemic has forced organizations worldwide to adopt a hybrid working model. Even when the workforce was working from the office, enterprise service delivery was a challenge for many organizations since it inevitably involved multiple functions of the organization. In the hybrid working model, this challenge has grown multifold.

When it comes to enterprise service delivery, efficiency, collaboration, and communication are critical factors; but all of this can be achieved with digital transformation initiatives and workflow automation. This is where ServiceNow’s Enterprise Service Management (ESM) is being aggressively adopted by several organizations since it has the ability to connect end-to-end process flows. In fact, ServiceNow has been named a Leader in the Forrester Wave™: Enterprise Service Management (ESM), Q4 2021. 

Organizations are reaping numerous benefits from ServiceNow’s ESM, including increased efficiency, the ability to connect functions, the ability to provide a unified view, and the provision for continuous service level improvement. The following are some of the most significant advantages of ServiceNow’s ESM for enterprises to create, streamline, and support all of their business processes:

Modernizing Service Delivery 

One of the most significant challenges in service delivery is the involvement of multiple functions across the organization. Modernizing service delivery enables organizations to deliver services in a way that unifies functions and eliminates silos. Using low-code tools, organizations are able to improve their systems and workflows continuously. Most importantly, this allows for more transparent service delivery. 

Integration Capabilities 

The ability to seamlessly integrate with third-party applications is a significant benefit of ServiceNow’s ESM. As an organization grows, the functionalities and features of ESM can be added quickly. It is a great way for organizations to get the maximum benefits out of their IT investments.

Suggested Read: Supercharge Your Operational Efficiency with ServiceNow

Enhancing Employee Satisfaction

When dealing with organizational support functions, the last thing employees want is to go from pillar to post in search of services within the organization. Today’s workforce expects personalized, well-informed, and seamless experiences. 

ServiceNow ESM provides employees with connected experiences and all necessary information at their fingertips. A positive employee experience translates into a satisfied, engaged, and loyal workforce. In the new hybrid world, modernizing employee experience ensures easy navigation across information sources and reliable support for a geographically dispersed workforce. 

Empowering Employees 

Faster application development and automation through the use of low code technologies enable employees to meet rising customer demands while increasing productivity. This also leads to them gaining visibility and control over day-to-day operations. Using low code makes it possible for organizations to continue to expand functionalities by leveraging business users for development. This eliminates the need for skilled developers, which are generally in short supply, and makes it possible to scale services quickly, significantly improving their reach. 

Here’s how we helped a Europe-based manufacturing company create a unified service portal using ServiceNow’s Employee Centre Pro module for an enhanced employee experience.

It is clear that the deployment of ServiceNow ESM is bringing transformational benefits to organizations including reduced costs, better transparency, improved employee service delivery, and a satisfied workforce. In these times when the pandemic and the Great Resignation wave are reigning over the world, it is crucial for organizations to remain competitive, offer a positive employee experience, and attract a talented workforce. 

To know more about how we can help you enhance your business outcomes with the help of the ServiceNow platform, reach out to our experts at contact@vsplc.com.

Why Is Sales Performance Management (SPM) Important?

Why Is Sales Performance Management (SPM) Important?

In the current economy, most operations can be considered as sales. But the question is, given such an abundance, how can businesses optimize their sales approach? This especially applies to businesses whose trajectory keeps changing directions frequently. Well, that’s what Sales Performance Management (SPM) can help with!

What is Sales Performance Management?

Gartner defines Sales Performance Management as “A suite of operational and analytical functions that automate and unite back-office operational sales processes, and are implemented to improve operational efficiency and effectiveness.”

The target of SPM deployment is to meet business performance measures. Varicent provides industry-leading SPM solutions. An SPM software, such as the one Varicent offers, helps enterprises magnify their digital operations. SPM creates functionality across departments, such as compelling horizontal and vertical communication advantages. It results in desired sales numbers using tactical strategies.

Why is Sales Performance Management Important?

SPM’s core capabilities include

  • Territory Management (TM)
  • Incentive Compensation Management (ICM)
  • Quota Management (QM)
  • Objectives Management (OM)
  • Advanced Analytics
  • Natural Language Processing
  • Gamification
  • Mobile Apps

SPM is helping businesses, large and small, across various sectors improve their sales operations. For example, SPM helped United Rentals to automate calculations, manage adjustments and approvals, build models, and view performance and trends. This enabled them to improve the effectiveness of their compensation programs continuously.

Similarly, owing to SPM, numerous other businesses have witnessed tremendous improvements and growth. Thus, businesses yet to implement SPM tools at their workplace are rushing to reap the benefits. In fact, the global market size for SPM is projected to grow at a Compounded Annual Growth Rate (CAGR) of around 15% between 2020 and 2026.

SPM innovation is a way of sales performance enhancement that brings leaders together. They can overtake the competition irrespective of what they are selling. In a gist, SPM allows sales managers to impact and improve all sales touchpoints. Here’s how sales performance management benefits organizations to streamline processes and scale business: 

What are the Benefits of Sales Performance Management?

Generating Analytics

Long gone are the days of intuitive decisions. Compensation is now proportionate to the performances of the sales force, and the credit goes to SPM. A data-backed analytical system keeps a real-time tap on performances. Gratification is one of the outcomes. Performance stats allow a business to understand the strengths and weaknesses of the sales infrastructure. SPM software today generates exceptional insights to quantify results. Goals are defined and classified in the right manner, backed by purely analyzed data.

Predicting Future Sales

With advanced data capturing, monitoring, and analyzing capabilities, SPM tools help forecast future sales accurately. This helps with employee compensation, business planning and strategizing, and making other business-related decisions more precisely. For instance,  with the help of SPM, MetaCompliance has been able to:

  • Drive greater revenue predictability
  • Eliminate intuition bias within the forecasting process and make data-driven decisions
  • Achieve sales adoption of the product to boost clean data entry and improve forecasting data hygiene
  • Enhance visibility to provide a more accurate view of the pipeline

Enabling Execution

The factors of integration and distribution make a significant impact. However, execution also matches the weightage. There are many boxes to tick here – the compilation of assigned tasks, the balance of on-site task assimilation, setting the numbers right, etc. 

Once the structures across departments are adequately figured out, sales can accelerate. Instruments like gamification to manage and measure sales success are all possible additional SPM components. They help keep sales on course. These components may be and easily connected using an AI-led edge solution to sales quality management created to natively handle the unique needs of IT, sales, and finance.

Bringing in Transparency

SPM puts it all on the table. Daily notifications on the activities support the employees’ updates on everything. It is practically impossible to keep a note of and revise everything, especially with numerous processes operating at once. An SPM software generates real-time notifications and creates utmost transparency. Not only is everyone up to date, but also in check with the timelines. SPM will revamp data structures and standardize the in-house performance with no effect from the external environment.

For example, Colt could instantly identify their mistakes with payments due to real-time notifications provided by the SPM solution by Varicent. Thus, their employees could ensure that they charged customers the correct fees. This helped boost accountability and led to 30% sales team growth.

Here’s how we helped a US-based healthcare and insurance company leverage Varicent’s Sales Performance Management platform (SPM) to streamline its sales operations. 

Summing Up

Sales Performance Management is a boon for organizations, providing them with an edge in sales processes. SPM solutions, like Varicent, have enabled businesses to strategize operations effectively, enhance sales opportunities, and embark on a journey of continuous, sustained growth.

Now that you have understood what SPM is and what benefits you can derive for your business, you might be looking for a robust and agile SPM tool to implement at your workplace. You can check out Vasta’s sales performance management solution that can help you create adaptable strategies and own your revenue growth. Contact our experts at contact@vsplc.com to know more.

How Manufacturers can Benefit from Hyper-Automation

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Supercharge your Operational Efficiency with ServiceNow

Supercharge your Operational Efficiency with ServiceNow

ServiceNow, a SaaS (Software as a Service) platform, helps organizations transform and effectively manage their businesses by automating their processes and workflows, resulting in increased productivity, reduced costs, and better risk resiliency. They provide solutions across domains such as customer experience, employee experience, technical excellence, and operational excellence and across a plethora of industries such as Education, Energy, Financial Services, Healthcare, Logistics, Manufacturing, Retail, Telecommunications/Media, etc. 

With the help of a single unified cloud platform, ServiceNow’s Now Platform has transformed the digital ecosystem of enterprises and helped them boost their efficiency, deliver value, and connect people and systems. Moreover, ServiceNow has been named a Leader in the Forrester Wave™: Digital Process Automation Software, Q4 2021. Detailed below are the various digital transformation solutions that they offer.

IT Workflows

ServiceNow provides a unified platform to handle Information technology (IT) operations, risk management, and security administration. It enables optimization of IT services and provides a modern, credible experience in alignment with the customer priorities. Below are some products that power the IT Workflows:

IT Service Management:

In the world of IT service management (ITSM), ServiceNow has been a pretty dominant force with its powerful features in incident management, change management, and problems management, and knowledge management, along with many others. It has a powerful ITIL package (Information Technology Infrastructure Library) built inside, along with a helpful scripting engine to do customizations. Using the ServiceNow Platform, the University of Maryland was able to achieve an impressive reduction of 75% in incident resolution times.

IT Operations Management:

These workflows enable predicting issues and auto-resolving them using the power of AI, thereby significantly minimizing user impact. Finastra, a financial services provider based in London, was able to save $350K annually using this platform.

Strategic Portfolio Management:

This platform enables organizations to develop strategies, create plans, set targets, make decisions, and track the progress until the desired outcome is reached. Using this platform, the Western & Southern Financial Group was able to align IT investments with their business targets successfully.

Customer Workflows

In this era of cut-throat competition, providing the best service to customers is the number one priority for any organization. But it is easier said than done. With so many channels of communication in use, such as phone, email, chat, social networks, etc., it has become a challenge to maintain consistency and ensure service quality. With limited staffing and continuous incoming calls, it becomes even more difficult to give timely responses, that too within the stipulated SLAs. Fortunately, ServiceNow provides some excellent solutions to handle this. 

Customer Service Management:

This platform strives to provide a hassle-free experience to both customers and agents. By connecting teams and systems and also enabling self-service, customer needs are addressed quickly. Tennessee DHS saw a 70% reduction in inquiry resolution times and a 99% reduction in inquiry assignment times using ServiceNow.

Field Service Management:

This service enables connecting the field service team with other teams and tools to improve operational efficiency and enhance customer experience. Scheidt & Bachmann, based out of Germany, reported 97% customer satisfaction after implementing ServiceNow’s solutions.

Financial Service Operations:

These solutions deliver modern capabilities in the areas of banking, insurance, and wealth management that result in accelerated performance and easy experiences.

Employee Workflows

Employee workflow solutions allow employees to work productively and collaborate effectively by providing them with the right set of tools and training. These workflows help improve agility, boost productivity, and raise employee morale. As per a recent IDC report, agile organizations retain employees at a 34% higher rate. Using this platform, employees are equipped to traverse through complex processes with ease and are also able to retrieve information through their preferred channels. 

HR Service Delivery:

These solutions aspire to improve employee productivity by providing them with unified work experiences along with enterprise-wide workflows that can be accessed through any digital channel. Distell, a global alcoholic drinks manufacturer and distributor based in South Africa, was able to automate 57 processes and close to 100 sub-processes using ServiceNow’s solution.

Workspace Service Delivery:

Through modern digital services, this solution enables support for a hybrid workforce from any device and any location.

Here’s how we helped a business create a unified service portal using ServiceNow’s Employee Centre Pro module for an enhanced employee experience.

Creator Workflows

Creator Workflows enable developers to develop low-code apps and transform legacy business processes into modern, digital workflows. These apps are designed to be cross-enterprise, scalable, and deliver a top-notch user experience. This suite comes with the below offerings: 

App Engine:

App Engine facilitates developers to build low-code apps with very less complexity rapidly. These apps can automate critical business processes and be built targeting specific business needs, thereby fuelling growth and revenue. Intercontinental Exchange, a financial services provider based in Atlanta, developed more than 20 custom apps using ServiceNow, with a 50% reduction in the development effort. 

Integration Hub:

Integration Hub enables easy and quick integration of ServiceNow with critical business systems, along with minimized cost, complexity, and risk. American University was able to leverage the ServiceNow platform during the COVID-19 pandemic to keep the classes running for over 13,000 students remotely. 

Manufacturing Connected Workforce:

This solution aims to unlock worker productivity by digitizing SOPs and also by providing them with digital tools to perform at their best, collaborate with others, and share knowledge across the enterprise.

To know more about how we can help you enhance your business outcomes with the help of the ServiceNow platform, reach out to our experts at contact@vsplc.com.

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