For example, a multinational company may relocate an employee from London to New York. In order for this to happen succinctly a number of business processes need to occur. These could include changing the employee’s tax jurisdiction with payroll; generating a new entry badge with facilities; and providing the correct IT hardware for them upon arrival. These individual processes may be managed by single focused applications such as Workday, SAP and Salesforce but what NOW does, is add an additional collaborative interface layer. This enables information sharing and visibility across different applications and departments, enabling greater process automation.
As NOW sits on top of other applications, its integration is fairly straight forward and does not require businesses to rip out and replace existing software applications. Such usability has seen sales grow at >30% p.a. for the last three years. The flipside of this, is the stock is very expensive which leaves shares vulnerable within a rising interest rate environment.