SANTA CLARA, Calif. – April 25, 2018 – ServiceNow (NYSE: NOW) today announced it has agreed to acquire Seattle‑based VendorHawk, a leader in Software‑as‑a‑Service (SaaS) management, in an all‑cash transaction expected to close this month. With VendorHawk, ServiceNow is rapidly expanding its capabilities in software asset management to help customers drive digital transformation by providing transparency into software license utilization and costs.
Millions of dollars are spent on underutilized software, and CIOs spend time worrying about minimizing risk from software compliance audits. The ability to manage on‑premises and SaaS assets as companies modernize their software infrastructure is a critical element of successful digital transformation. With the growing momentum of cloud software, SaaS subscriptions can rapidly inundate an organization, often bypassing a company’s IT organization.
VendorHawk cloud solution helps customers discover, rationalize and optimize SaaS subscriptions across their organization. VendorHawk has broad support for over 36,000 SaaS applications to discover spend and map redundant applications. VendorHawk also analyzes utilization and optimizes SaaS subscriptions for top applications such as Salesforce, Box and Google G‑Suite.
The addition of VendorHawk’s deep expertise in managing SaaS usage and redundancy enhances the current ServiceNow Software Asset Management offering and brings new capabilities in SaaS spend and vendor management. VendorHawk will be added to the Now Platform and offered as part of a ServiceNow Software Asset Management release in 2019.
“Adding VendorHawk’s capabilities to our Software Asset Management service strengthens ServiceNow’s unique value, bringing together essential capabilities into a single, comprehensive platform that greatly improves efficiency while still supporting the employee experience,” said Farrell Hough, general manager, ServiceNow. “Having a real‑time view of all software assets is critical for our customers to consciously rationalize and optimize software spend as they digitally transform.”
“We have focused on providing customers with the ability to discover and manage thousands of instances of SaaS assets across an organization,” said Patrick Lowndes, CEO, VendorHawk. “By adding this capability to their comprehensive platform ServiceNow continues to drive tremendous value to their customers, providing visibility about SaaS that leads to action.”
ServiceNow Software Asset Management helps:
Automate asset management with real‑time views across the entire organization
Minimize software compliance exposure
Optimize existing software assets
Eliminate unnecessary and underutilized assets
Details about the acquisition will be shared in conjunction with ServiceNow’s first quarter 2018 financial results announcement scheduled today.
Read Farrell Hough’s blog about the acquisition of VendorHawk here.