ServiceNow, Inc. (NOW) Earnings Call Transcript & Summary

Good morning, everyone. Thank you very much for joining us. Today, we're going to be going over what's new in the Washington D.C. release for technology providers. So, first thing, just to cover a few forward-looking things that we may be talking about today about upcoming releases, so just the safe harbor notice, just to cover, don't base any buying decisions on things that have not been released as of yet. I'm going to go through and just introduce who we have on. Myself, I'm a Director of Product Management for TMT, which covers our technology industry products that we're going to be covering today. And I also have on with me Romit Ghose, who is the Senior Director for Product Management as well for TMT. And both of us are going to be going over what we have in the Washington release. So, the first thing here is the agenda that we have. We're going to go over Now Assist components that we have, are really exciting with GenAI for technology providers. Then we're going to go through into our sales and order management for technology providers, which is an evolution of the order management with some really incredible features for the industry. Then we're going to go through our service management product with TPSM. And then we'll go over what are some other cool things we have coming up in a little bit, and then we'll go into Q&A to answer questions that you may have through the session. So, with that, I'm going to now turn this over to Romit, who's going to run us through some of the industry direction and then take us on to [ some tea ].

Awesome. Thank you, Ryan. All right. So, Washington, D.C. release has a ton of cool new features for tech providers. We're focusing heavily on areas like AI and automation, so we're really excited to bring a host of new features. But before we go into that, it's always great to take a look and level-set on what we do in the technology provider space. So, as a lot of you may already be aware, we cover the entire breadth of the operational space for a tech provider. We start off with a product and service catalog that serves as the foundation for selling and maintaining and operating the services that tech providers bring to their customers. When tech providers do sell their services, we now have sales and order management for tech providers, which enables us to cover the entire life cycle from opportunity to quoting to order delivery. Once delivered, we also have onboarding capabilities. So, guided capabilities around bringing on a new enterprise customer and setting them up for operational success. In that space, we also support a uniquely differentiating channel for ServiceNow called Service Bridge, which enables our tech provider customers to connect directly into the ServiceNow instances of their customers. We, of course, also, in addition, support the omnichannel capabilities around CCaaS integration and e-mail and have a fully robust, fully baked-out service portal that is being used across our customer base in production. And then, needless to say, an area that we absolutely have been known for over the years, which is our proactive service experience capabilities, our ability to detect issues within a tech provider's landscape and proactively bring them to the attention of the customers is something that has continuously differentiated us from competition again and again. And all of this is based on ServiceNow's Now platform, which ensures that there is data consistency across these silos of operation within a tech provider's landscape. This also enables us to bring some really cool new features around generative AI that we'll be talking about today. So, what does this really help us do? Whether it is about generating an offer or going into an opportunity and quote and ordering, we're actually onboarding and connecting the customer and delivering service to them. We're able to stitch together the entire end-to-end life cycle journey of that an enterprise customer has with agent technology provider. So we go from being able to offer the products in the product catalog to be able to quote and create opportunities as well as provide an order fulfillment and delivery process, following which you can onboard the customer, connect to them using uniquely available channels, as well as deliver exceptional service to them proactively as well as reactively if necessary. All right. So now let's dive into what's new for tech providers in the space of Now Assist, which is our generative AI umbrella of services. Now Assist for technology providers is available. These capabilities are available within the Now Assist umbrella under the technology providers service management Pro plans as well as Enterprise Plus offerings. And with Washington release, we've added a set of cool new features to it. Our core guiding principle as we add these new generative features is really to accelerate productivity in areas where we already serve our customers, to increase the agility with which they work and, in some cases, add absolutely new experiences which didn't exist before the advent of generative AI to transform the experiences that our users and customers have. Towards this, we're launching some really cool new features. So let's start off with the ability to create incidents and cases directly from chat interactions. So, this will completely reduce the manual workloads that are involved in creating cases and incidents and populate cases and incidents with the fields that are necessary based on the chat interaction. We've also introduced the ability to comb through the topics within the virtual agent designer because now the virtual agent can be supercharged based on generative AI. Initially, prior to the advent of generative AI, it was a natural language understanding based engine. But now, you can introduce LLM-based topics and even test them out for using phrase analysis, using prompt discovery, using context variables in order to ensure that they're really delivering the results that you expect to see as a virtual agent. And you can also preview, in the Now Assist panel, the performance of the virtual agent and its response accuracy. And you can also do that within the comfort and familiarity of Microsoft Teams and Slack because, a lot of times, these get consumed within those environments. Text-to-code is promising to be transformational in how quickly our customers can now go live. The ability to be able to shrink those times by actually generating code out of a natural language text phrase promises to be transformational because now developers will move on to essentially reviewing code, and therefore, generating that much higher volume of code, shrinking the time to market and time to going live for our customer implementations. Also, as configurations and changes are made on an ongoing basis, this completely reduces the cycle time required for updates and changes to an existing implementation that may be live already, so it's much easier to react to any kind of market changes, business process changes, in the organization and implement those changes faster. We also recognize that not all of our customers will -- and not all of the users among our customer base will operate within only a fixed console or UI. So we've brought the goodness of Now Assist within the context of where users actually work. So, Microsoft Teams is one such integration that we've introduced wherein knowledge-based articles can be summarized within the context of Microsoft Teams, so you can see the power of Now Assist emerge in channels and areas of work where our users actually work. Within Now Assist for virtual agent, we've also now introduced the ability to order using service catalogs. So, the idea is to be able to provide faster and easier service, and catalog-based ordering is now available within the context of Now Assist when used inside of a virtual agent. All right. So, let me just ask you a poll question at this stage. Which of the key capabilities that you've seen, either now with the advent of Washington or prior to Washington, would you think are -- you're exploring at this time or are close to exploring or are even close to some of the areas that you're looking at within your business? As you know, we have launched several other capabilities in the past such as case summarization, incident summarization, et cetera, which have resonated significantly with our customers. Our search has been supercharged with Now Assist. So we're really curious to know which of the key areas that we've spoken about in the past as well as today are most resonating or you're exploring within your environments. So, we'll give a few seconds for our customers and attendees to answer this poll question, and then we'll take a look at the poll results together.

Yes, and you can select one or more before you hit submit on this as well.

Exactly. All right. We're coming up to a bunch of responses, so last 10 seconds to respond. And then -- okay, here we go. Ready to see the results? All right. Search definitely pops up at the top, and right there with the search is the task and chat summarization. So, yes, we have been seeing these emerge as areas of interest. I think the area of code generation is something that most organizations are trying to figure out because it's something so new within their process landscape. But it's also catching up as something that is generating tremendous amounts of interest. So, this lines up exactly along with the way we have been thinking about our Now Assist features. All right. So now let's dive into what's new in the Washington, D.C. release beyond the Now Assist capabilities. First off, we'll talk about sales and order management for technology providers, which is our SOMTP product, and we'll also see a demo. So Washington saw the launch of sales and order management for tech providers, which, like Ryan said, is an evolution of our order management for tech provider's product, which is being used by several of our customers currently in production and has delivered tremendous results in terms of time to market, as well as efficiency gains when orders are fulfilled. So, sales and order management is our strategy to add on to that process by introducing the notion of configured price and quote and also adding the ability to add an opportunity. This comes on extremely handy in renewal, upsell, cross-sell scenarios where opportunities need to be created and monitored and tracked and nurtured before a quote can be created for the customer. So, let's actually dive into the process. So, on the right-hand side is an area which we had already been serving our customers with, and that's around order fulfillment and its integration into capabilities like field service management, strategic portfolio management, as well as, in some cases, network inventory. We also added the ability to make changes to existing installs. So, should an order have already been fulfilled and a customer be live and provisioned, there was the ability to introduce what we call as move, add, change and disconnect orders, which go ahead and introduce the ability to change an installed base configuration. We have since moved leftwards in the process. And now we have added the ability to capture orders in a platform in a configurable way. We've also had a configurator on a full-stack pricing engine and introduced the ability to generate quotes with versions with the ability to go back and forth with the customer and negotiate, let's say, on price and terms as well as on the line items. And then we have also introduced the ability to create and manage opportunities from a phased opportunity phases perspective. So, this now squarely places us within the sales and order management space, and enables our customers to take advantage of our platform and its capabilities, even within their sales and order management capabilities. So, let's take a look at the key features. So, first step is opportunity management. We've introduced the ability to either create net new opportunities within ServiceNow or go ahead and import them. You can view them, manage them within a Kanban band view, which essentially enables you to see them by their sales stage. And you can even drag and drop and move them around between their phases as they progress through the opportunity funnel. From the opportunities, you can then proceed to create a quote. Our quoting capabilities are foundationally based on a full-stack pricing engine, which enables you to create various kinds of pricing capabilities such as account-based pricing, product-based pricing, as well as any kind of conditions and eligibility rules that you wish to add. And then you can utilize our configurator to go ahead and configure that quote and watch the price getting affected based on the configurations that you're making on the quote. The quote can then go through several versions and revisions and negotiations with the customer before it can be finalized as the final, approved quote. We also have enhanced our order capture capability with the introduction of a platform catalog view. So each card on the screen represents a catalog -- a product catalog item or an offering which customers can pick from. Essentially, this is an agent-assisted order capture experience that you're looking at where an agent is capturing an order on behalf of the customer. Now, should a quote already exist and you wish to create an order from that, you would likely surpass it, bypass the screen, wherein the quote would then cause the order to inherit line items from it. You can, of course, proceed to change it at the order level, should there be a need to do so. But there is an integration directly from the quote available as well. We've also introduced the ability to view the fulfillment journey of an order. This is often something that's requested by our customers because orders can often be complex and long-tailed in their delivery cycle, and order tasks can run into several days, and there can be dependencies from one order class to another. And in scenarios where that exists, the order fulfillment view, when spread out on a Gantt chart, enables order fulfillment managers to be able to take a stock of what exactly the status of the order progress is. And should one of the tasks slip its SLA, you can then make a determination of which other tasks are likely to slip as well because of a dependency that exists between them and how that may end up affecting the actual delivery time line of the order itself. We've also introduced the ability to capture -- create or either sync from an external CLM system customer contracts and entitlements. So this is essentially really key for us to be able to manage any kind of changes that are requested on an existing customer install. So, customer contracts really capture what the terms and conditions of that engagement with the customer is and dictate what exactly can or cannot be covered under commercial implications, should a change be requested. It often even comes into play when you're executing warranties and any kind of service for that customer. Contracts tend to capture that capability as well. Our product catalog management is something that we have always offered to our customers in the context of order management, but now it has been upleveled and been made available for quoting as well. So now we support a full capability of a commercial as well as a technical catalog. So not only are you managing what you offer your customers and assign price tags to those, but you also then tie it down to a technical catalog, which explains the actual fulfillment journey that the order may have to take when the order is received in the system. The UI is intuitive, so you can quickly browse through the catalog and look at the hierarchies involved therein and use certain keywords or codes to even search for the product offering or specifications that you're actually looking for. You can also use price matrices and overlay those on these product offerings, as well as specifications, in order to assign product-based pricing, account-based pricing, or even access external price lists, if required. All right. So, let's take one step back, and we'll see a demo together of our sales and order management for tech providers' capability. So, there are many personas often involved in dealing with the process from opportunity to fulfillment. So, we start off our journey with opportunity, and we view the opportunities in a Kanban view, which essentially enable us to see what stages they're in. We can move them around as opportunities progress through their life cycle. And once the opportunity is ready to move on to the stage of a quote, you can actually proceed to create a quote. From the 360-view of the customer, which you're looking at right now, you can proceed to look at what they own from us currently and, if there's an upsell opportunity, go ahead and create a quote for that customer. As you're looking at the quote creation screen, you can pick a price list. As you can see, you can maintain several. They can be based on several different criteria. And based on the price list, then you can go ahead and pick the right catalog items to add across the entire catalog view. Once you introduce the catalog items by searching for them and adding them, you can go ahead and configure them. Our configurator enables you to, in a very fine, granular way, introduce attribute selection and that then affects the price in real time, on the right-hand side of the screen. So, you can see the price evolve and it enables also then for you to make the right decision for the customer that you're preparing this quote for. Once that quote has, of course, been finalized and approved in your interaction with the customer based on either any kind of discounts, markdowns or any kind of price negotiations or product additions, removals that you may be doing, you can then go ahead and finalize that quote and proceed to creating an order from that quote. Once that order is created, of course, it goes through its journey to actually progress into creating creation of the order tasks that are necessary to fulfill that order and then deliver the service to the customer. So, that's how we execute the end-to-end journey, going from an opportunity to a quote, proceeding on to fulfilling that order journey for the customer. Once that order is fulfilled, a lot of times modification requests come in from the customer. And in those scenarios, we can also take a look at what the customer owns currently from us and use that as a basis to then make changes to the process of order management. So, we can completely optimize the lead-to-cash journey, improve efficiencies, as well as manage complex products and services. If you notice, this also connected the front-office to the back-office view and did so seamlessly on a single stack on the same set of data sources across lines of business in an organization. All right. So having said that, let's move into the world of Service Management. And at this time, I'll hand over to [ Ryan ] to take us through TPSM and its cool, new features in Washington.

And so we're going to run through a few features that really stood out for TPSM, which is our Service Management. And so, recapping real quick here, TPSM is the combination CSM, ITSM, as well as the technology-specific features. We have Service Bridge. We have Proactive Service Experience Workflows, account life cycle events that Romit went over in one of the first slides, which are really the continued additive features that we built on top of the CSM base that really expands and focuses on the specific industry. So, starting with Service Bridge, which, recapping Service Bridge, if you're not aware, is really it's ServiceNow-to-ServiceNow connectivity. How do we connect one instance, a provider instance, out to its different customers? And there's been a lot of effort in a complete rebuild of the application that took place last year, and we're continuing to add for administrative ease and functionality and then have some exciting features that are going to be coming up in Q3 later this year as well. But the first one we want to talk about today is really on error handling, kind of transport diagnostics. And so there's a number of moving components. Service Bridge is a framework that leverages a ton of platform capabilities, ties into other workflows and tasks such as incident or case. And really, it's bringing together the alerts into a central place, putting together an error handling framework, to capture all the information and put it into a central location that an administrator can go into to see what is wrong, if there are problems, rather than having to jump to multiple different places. So, if there's issues with synchronization between instances, if there's issues from workflows, if you're integrating one workflow to another, another instance or some type of conflict, being able to bring that information over into the provider instance so they can see and understand that something has taken place. And so this is really a step forward into just consolidating that into one place to make the administration of this just one a little bit easier. Next is going on to remote catalog variable sets. So, within Service Bridge, remote catalog is similar in concept to a service catalog, but allowing a provider to publish these remote catalog items out to the consumer. And previously, remote catalog items, you had -- the variables were defined on an individual basis, but variable set support, something very common in service catalog, was not something that was a capability as of yet. And so that has now been added to allow for single-line or multi-row variable sets to be added. This allows, from an administration side, to be much easier. Now you can reuse these variable sets across multiple remote catalog items. And then it also gives, with the multi-row variable set, a way to capture, in a greater bulk, greater volume, the information that's required for a particular item. So, as an example, you can order a mobile device that we have here and now order it for multiple people and capture all of that information within this matrix-looking capture and then use that information to drive the process and the workflow within the provider instance. And the last thing I want to touch on today as well is just an extension of outbound trouble ticket notifications. And so there's -- within the tech and really the TMT space, we see there's so many different systems that you have in third-party ticketing or third-party systems that want to get this information. It is something that's been asked by a number of customers. And so using the Hermes, which is a Kafka implementation within ServiceNow, it's been extended to be able to go into external Kafka messaging systems as well. And now you can stream these event notifications for trouble ticketing, which can be extremely high-volume. And so it's a very high-performance method to send these notifications out to one or multiple systems that would be wanting to consume it from a messaging framework. This aligns with TMF Open API. So, it's an industry-standard API. So, there's a number of other systems that are built to be able to consume it within this format. As I mentioned, it's leveraging our -- Hermes is what we have internally as the name for it, which uses Kafka messaging, so a very well-known, high-performance method that is able to stream large volumes of data to external systems. And so, with that, I'm going to jump in and share my screen and just show a little bit of a couple of the components that we just spoke about. So, here we go. So, this is on an instance that I have, this [ Solana ] instance, which is the provider. What I'm looking at right here is the configuration of Service Bridge with a remote record producer, which is that remote catalog item. And so I have, down here, this is a catalog item, someone I want to allow customers to order a new laptop. And traditionally down here was the variables where I'm going to define, the street address, city, state, and ZIP code as individual variables. The challenge with that is, as anyone who's configured service catalog -- is those are pretty common things, and I'm probably going to want to use them across many, many different remote catalog items. And so now we have the capability to have variable sets. And you have the option to put in just a single-line variable set where it's just going to be those fields that are going to be filled out once, or you can use from a multi-row variable set where you allow to put in multiple lines with those same fields again and again and again. And so what this looks like over on the consumer instance, the consumer -- customer instance being [ Bacio ] is now we have, right here, this is an example of a variable set that's capturing at once, just that single-line variable set. Alternatively, we have this multi-row variable set where now I can go ahead and type in the information, and it's going to add it as an additional line, and I can continue to add as many different options as I want or as many lines here as I want. That will then be captured and brought over to the other instance. And traditionally, this is what the old version would look like as you're going to put in the individual variables. So really, this up here gives the same functionality from a single-line. It gives you that reusability. And then additionally, the multi-row variable option opens up a number of different possibilities. So, then when I submit it here, this is going to go ahead and now create a request over on the provider side. So, we define these record producers. We publish them over to the customer. They're able to go ahead and order it within their catalog, go ahead and have communication back and forth updated. Meanwhile, we do the processing of what that request is over on the provider side. As Romit went through on SOMT that could be something that goes into order fulfillment of an order that's going to be fulfilled. Now, I've requested that laptop, that's going to be requested, it could be something requesting help. That laptop that I have, something is broken. Now it's going to tie back into the features where it's going to create a case, and we're going to have those entitlements or contracts that are associated that were created by SOMT. But really, Service Bridge and these capabilities, we're just giving the ability to quickly create and get these items out to 1 or hundreds or thousands of different customers over Service Bridge from ServiceNow to ServiceNow. All right. So, we are going to go into another poll here. I just wanted to see what are the new features that we discussed here today that are most exciting to hear about to yourselves. So, I can go ahead and select one of these options, and we will give it another, let's say, 30 seconds or so for people to go ahead and start.

And Ryan, can you go ahead and stop your screen share? That way, we can see the poll.

Oh, yes. Thank you very much. That would help.

Yes.

Yes, now you should be able to see the poll.

Thank you.

That would explain why there is no one who had filled out the poll. All right. We'll give everybody another 10 seconds. All right. And then let's continue. All right. That is, I don't think, a surprise that Gen AI is up at the top of the list, followed by -- the product catalog management is definitely a really great new feature that we have. So, what other stuff do we have coming up? So, the first thing I'd say is, if there is something that you are interested in, go ahead and explore the tech apps on the Store, the apps. The functionality that we're releasing are based on Store app releases. So, it makes it very easy to test these things out, where you can just install the app on a sub-production instance and be able to start exploring it. We have a specific technology community on the ServiceNow Community site. So, there is a tech provider community. You can ask questions in there. There's a forum where we post updates over what's new and kind of answer questions within the forum itself. And then lastly, reach out and contact your ServiceNow account rep, schedule a demo. There's a number of people, a number of different use cases, that we can cover and then really tailor it to what you're looking to get out of the products for your business. Additionally, we have Knowledge that's coming up not too far away now. We have, on May 7-9, we'll be having Knowledge. We'll be in Vegas at The Venetian. It's going to be hundreds of different breakout sessions. We have hands-on labs that we're going to be covering with the technology products. We're going to be going over what is the road map. There are some of the things we have coming up with CMDB Sync Foundation Data sync with Service Bridge in Q3. We have an ALE. We have a customer success, a whole new product that's coming out as part of TPSM, which is really exciting for the run stage, a lot of great speakers, tons of customers that are there, a great opportunity to meet one-on-one with meetings. I know myself, being a customer for many years, this is where we would go to and be able to set out what is our road map going to look like for ourselves as a business over the next year, have so many different ideas, exposures, and see how other customers are using the product today. So it's a really a great opportunity. And if you have the chance to go there, I highly recommend that. Additionally, we will be having World Summits. And so World Summits are smaller kind of breakout sessions that we have that are regionally for people who cannot make the trip to Knowledge. So they are a free-to-attend session. Go ahead, register for them if there is one that's local. There are also great events to be able to go and meet with a large audience that you wouldn't be able to otherwise.

And now we will go into Q&A. So, I'm going to go into the first question that I see. If you have any questions, please put them into the Q&A box, and we will go ahead and answer them live. Anything that we don't get the opportunity to cover, there will certainly be sent something out for a follow-up, and you'll be able to see the responses on the Community page as well. So the first question we have is what is the breakdown between the differences between TSM and TPSM? And honestly, they are the same code base for the service management products. So they are the same code base. There are definitely different use cases for some of them. But if you look at the patterns of some of the different functionality, while there are different products that are being sold, the use cases of how technology companies and telecom companies operate are very similar. So it allows for using a consolidated process. There are some things that are coming up in the Q3 near-term type use case or road map that will have some more delineation between the 2. So, keep an eye out for those coming out later this year and next. And I see a question around time line for Now Assist from a -- for FedRAMP instances. We'll post that as a follow-up in the Community page. I don't know exactly what that time frame is, but we can certainly get that, what we have available. Are there Now Assist features you mentioned only available in Washington release? And then is there any overlap in previous releases? So there was -- the initial Now Assist functionality was released in the Vancouver time frame. And so all the things that we went over were Washington with the exception of cogeneration. Cogeneration was expanded into flow generation in the later releases. So cogeneration is the one there, though, that is Vancouver. Everything else was in the Washington release. All right. One question was on just Service Bridge as a whole from a licensing perspective. So Service Bridge itself is built into the service management TPSM, so Technology Service Management Products. And so there's no separate transactional licensing that's required for it. And there's no licensing that's required from a consumer. So, it was one of the things we wanted to do. One of the core pillars, I'd say, of Service Bridge is to make it easy for the consumer or the customer. And so we want to make it so they don't have any licensing considerations. There's no cost to them. There's no transactional basis licensing for any of the technologies that are used underneath it. And then, for the provider, it's included within a traditional licensing model by a fulfiller so they don't have to worry about the volume of transactions, abilities with all their customers, not make it a consideration based off of volume. And then I see one for -- again, I'll go to Service Bridge. Continuing that, what task types are supported? So any -- with Service Bridge, it's really -- if you think of it, it's kind of like a framework to work with different task types. So anything that's an extension of task is able to be used with Service Bridge. You have the capabilities with remote record producers that basically captures the information, the variables from the consumer, brings it over to a provider and then is going to send that to the process that people are using today for doing fulfillment, whether that's a case or incident or going into a change or some other type of task type. So, anything that is an extension of a task can be used. Then you have a remote task, which is more akin to traditional e-bonding where now we're going to integrate one task type to another task type, map out of the fields and pass those along. A question was asked around on the SOMT side. So what do people do? They have a lot of existing or legacy systems that might be used for ordering for CRM, for sales. And so the addition to this is -- allows you to do integration with those platforms. As Romit had mentioned earlier, you might have an order where someone is going and putting it into the actual system within ServiceNow or might be coming in from another sales platform that's already out there. And so with the integration capabilities that ServiceNow has, which are quite extensive, now you can capture that information, that order, that opportunity, that something has been completed from an external system. And now we have that representation within the platform, and it's able to kick off. The order fulfillment is able to use that data, as was mentioned, on entitlements and contracts. We use contracts and entitlements within case management within the servicing of a customer to know is someone entitled to something? What is it that they should be able to do? How do they operate within the system? What is really their experience? And so bringing that information, being able to represent that within that data structure has so many different things that could be done from automation and really just the experience to the overall customer itself. So, it's a really cool thing to have that model to be able to represent that now. And whether you are working within ServiceNow, directly entering that information or if it's coming from external systems, there's really huge advantages to having that within the platform. One of the questions that came in on chat was, where does approval live for our catalog items? So, the approval itself would really live on the consumer side, if you will. There is not a built-in approval integration. So, it would be a couple of mechanisms to say who can order things, a feature called Authorized User. And then it would be up to the consumer to go ahead and essentially put a mechanism for the approval. In the Q3 release as well, that's also going to be expanded to give additional options as to where the approval can lie on both sides to start to give some options for integrations there. All right. Some -- so going back to SOMT, does it have capabilities for invoicing, billing, cash collection? So, we're not here to replace the ERP. We're working on these order fulfillment workflows. And so a lot of the data that is captured within the ordering, within the fulfillment, within really the end-to-end cycle of ServiceNow is going to feed directly into those systems. And as we talk about the data model a little bit earlier, I mean, that's why it's so hugely helpful, because now it can help feed all of the systems. If there's a change or an order, we have really, in the system, a record of what is taking place, what actions are taking place. It can now be used to feed into the other systems and really drive the invoice and billing and kind of cash collection. So those would be alternative platforms. But definitely, the information that is used and generated within really that SOMT process is most likely going to directly feed into this to help kind of give that visibility. And having that association within ServiceNow, where the work is being performed, then gives just much greater granularity to understand where are the costs that are potentially being incurred for delivering a service or a product to your customers. One thing that we touched on a little bit, Romit did, on the capabilities was around Proactive Service Experience, PSEW workflows. And so the Proactive Service Experience Workflows is a unique feature to TPSM. And one of the questions was, which naming-wise, is pretty similar, is there's Proactive Service operations, which is inclusive within CSM Pro. And what is the difference between those? And so PSEW, Proactive Service Experience Workflows, which is for TPSM, for technology providers, focuses a little bit different on the persona of who is doing the fulfillment. So, within technology companies, you have a lot of people that are not necessarily a customer service agent, but you have engineers, you have system administrators, you have developers that are doing work, delivering services or products that are much more technical in nature, but they're doing it for the customer. So, it's not behind the scenes. I've used an analogy. If you're selling shoes or clothing, as an example, that customer service agent is not working with technology. It's not the website or the back end. It is not directly customer-facing. But when you are delivering technology, that technology is the product or the service that's being sold. And so you have these very technical personas that are working within IT operations. You're seeing events that are coming in, or working in the development side. They're working really in the service operation workspace. And so they are doing ITIL practices that are directly servicing the customer. And they want to -- they're familiar with incident. They're familiar with the investigate features within service operation workspace. PSCW, what it does is it uses the incident in that case structure that really allows that technical fulfiller who is working in an incident, in the service operation workspace, to drive that entire experience from the incident. So, it changes it a little bit where, instead of it's a customer service agent and they're able to communicate with the back end, now you have a technical fulfiller that is delivering that service directly, and it will drive really that entire case process, give visibility into what customers are impacted, recognizing that the work being done in the ITSM area is for the customer. And we want to empower with the information, with the automation, to drive that case life cycle, but do it directly from the incident so those technical fillers don't need to jump around to multiple different places. All right. And then the last one we have is, again, on SOMT, was around one of the capabilities in SOMT is around change order management, and kind of reconcile what order -- what needs to be done as we add on some of these capabilities as we go into entitlements, we go into other contracts and so on. Now we have the capabilities that are tracking that data, that detail and what needs to be undone and redone. And so it's a pretty complicated, or I should say, it can be a very in-depth question. But the answer, in short, is, yes, you can now reconcile what task needs to be undone, redone, with order management. And with that, that will then update the contracts and the associations. There's different things that we have built in of, like, what is the point of no return? If you've already packaged and shipped something, well, you know what? We can't go ahead and make a change at that point in time. That's going to be something that will have to be a new order or an update, not something that could be changed because we've already hit that point. So, it really allows a lot of flexibility and configuration to be able to handle, say, [ McAfees ], move, add a change, disconnect within the platform. And then, with that, the workflows, the fulfillment, reconciliation, the contracts, all of that data model and tasks will follow. So, we are at the end of the questions that we have. If anyone has any questions, please go ahead, put them in or send them afterwards, and we'll be able to answer anything on the Community for any follow-up. We really appreciate everyone joining today. Hopefully, this was helpful. We look forward to seeing everyone as well at K-24 who can make it. It's always a great event and a great opportunity to see many different of your peers as well as a ton of information about what's coming out and what's going to be new within ServiceNow. So, thank you, everyone. Please scan here on the page. This will send you to a link over to the Community where you'll able to see the follow-up from this, the webinar, and look forward to speaking with everyone soon at K-24.