Fed Governor Adriana Kugler to resign
SANTA CLARA, Calif. & PARIS - ServiceNow (NYSE: NOW) and Devoteam have entered into a strategic partnership aimed at advancing customer relationship management (CRM) modernization across Europe, the Middle East, and Africa (EMEA). The collaboration combines ServiceNow’s artificial intelligence (AI) capabilities in Customer Service Management, Sales & Order Management, and Field Service Management with Devoteam’s digital transformation services.
This partnership is expected to enhance the CRM strategies of businesses within the region by leveraging ServiceNow’s platform and Devoteam’s consulting expertise. It comes at a time when the CRM market is experiencing significant growth, with projections to reach $39.24 billion in the EMEA region by 2027, according to IDC. ServiceNow, with its market capitalization of $169 billion, is well-positioned to capitalize on this growth. For detailed insights into ServiceNow’s growth potential and comprehensive analysis, investors can access the full Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
Sebastien Chevrel, Group Managing Director at Devoteam, expressed pride in partnering with ServiceNow to help enterprises meet rising customer expectations through AI innovation. Cathy Mauzaize, president of EMEA at ServiceNow, also highlighted the alliance’s potential to scale CRM innovation rapidly, driving business outcomes and productivity while delivering improved customer experiences.
Devoteam, recently recognized as Elite Consulting & Implementation Partner of the Year and Customer Workflow Partner of the Year, has a longstanding relationship with ServiceNow. The firm’s expertise in ServiceNow’s platform, particularly in CSM and FSM, has led to successful outcomes for shared customers such as St. Maclou, Husqvarna, and Konica Minolta.
Devoteam, an AI-driven tech consulting firm, has been a tech native for nearly 30 years, guiding businesses through sustainable digital transformations. With a global team of 900 certified ServiceNow consultants, Devoteam boasts a strong CSAT score of 4.8, reflecting high client satisfaction.
ServiceNow continues to integrate AI into its platform for business transformation, connecting people, processes, data, and devices to boost productivity and maximize business outcomes. This partnership is based on a press release statement and aims to deliver value and innovation in the CRM space for businesses in the EMEA region.
In other recent news, ServiceNow has been facing challenges with its product pricing and adoption rates, as highlighted by a system integrator in an interview with In Practise. The integrator pointed out that many customers find ServiceNow’s license costs to be excessive, with approximately half of its products remaining unused a year after purchase. On the financial front, BMO Capital Markets adjusted its price target for ServiceNow to $950, maintaining an Outperform rating, citing macroeconomic uncertainties. Similarly, JPMorgan lowered its price target to $970 while keeping an Overweight rating, noting mixed sentiment from partners and potential impacts from the trade war and federal budget changes.
Cantor Fitzgerald continues to hold an Overweight rating for ServiceNow, with a 12-month price target of $1,048, despite expressing caution about the federal sector’s uncertainties. Additionally, TD Cowen reduced its price target to $1,100 but reaffirmed a Buy rating, anticipating that ServiceNow’s first-quarter results will align with expectations. Analysts from these firms highlight the ongoing challenges and opportunities, such as the adoption of ServiceNow’s AI products and the planned acquisition of Moveworks. Despite the pricing and adoption hurdles, partners remain somewhat confident in ServiceNow’s growth potential, expecting close to 20% growth this year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.