The company remains confident of posting strong revenue numbers for the rest of the year despite uncertain macroeconomic conditions. Credit: Phive2015 / Natrot / Getty Images Workflow automation provider ServiceNow on Wednesday said it remained optimistic about growth for the rest of the year, despite the uncertain macroeconomic environment, hoping the situation will in fact boost demand for its offerings. “As you know, they (enterprises) are either not hiring, they’re laying people off, and they have to do more with less. We’re built for that,” said Bill McDermott, CEO of ServiceNow, during a call with analysts to discuss the company’s third-quarter earnings. “They need the computers and the platforms to do the work so that people have a more pleasant experience on the employee side … we take care of that,” McDermott said, according to a Motley Fool transcript Though the company is not immune to the macroeconomic environment, its sales team is preparing for uncertainties by doubling down on staying closer to the customer to understand their needs, added company CFO Gina Mastantuono. In fact, Mastantuono said the company will continue to keep hiring for the rest of year, in contrast with several large technology companies—such as Google, Oracle and Microsoft—that have been laying off large number of employees. “ServiceNow is hiring and will continue to hire and we are investing for growth. So, we are absolutely committed to continuing to build up our world-class, go-to-market organization,” Mastantuono said, adding that ServiceNow will also hire critical engineering staff. ServiceNow reports robust Q3 results ServiceNow reported strong quarterly results Wednesday, with 25% year-on-year growth in revenue backed by at least 69 deals that were worth over $1 million each. The company reported total revenue of $1.83 billion for the quarter, with subscription revenues accounting for $1.74 billon, an increase of 28.5% year-on-year, without considering the effect of currency fluctuations. Multiple products including IT service management (ITSM), IT operations management (ITOM), Customer and Employee Workflows and Creator Workflows were included in the top 20 deals signed by the company, McDermott added, pointing out the diversification of the company’s products portfolio and increasing customer awareness. “In Q3, both ITSM and ITOM were in 17 of our top 20 deals, with six deals each over $1 million. Security and risk were in 15 of the top 20 with five deals over $1 million,” McDermott said. Customer and Employee Workflows were also a part of 12 of the top 20 deals signed during the quarter in question, along with Creator Workflows, which featured in all the top 20 deals, the CEO added. The company reported that it had a total of 1,530 customers with more than $1 million in annual contract value by the end of September. The number of customers paying over $10 million in annual contract value grew 60% year‑over‑year by the end of September. ServiceNow announces new training program ServiceNow has also introduced the RiseUp with ServiceNow program, aimed at training one million ServiceNow certified professionals by 2024. As part of the program, the company will offer 600 free courses along with 18 job-related certification paths. Related content brandpost Sponsored by VMware The Java migration imperative: Why your business should upgrade now To truly take advantage of modern Java, apps built for the ecosystem must be constantly maintained to maximize performance and minimize exposure to risks and security vulnerabilities. By Ryan Morgan, Senior Director, VMware Tanzu, Broadcom Apr 29, 2024 8 mins Cloud Computing news Get Ready for FutureIT Boston With This AI Infographic By Shane O'Neill Apr 29, 2024 1 min Events Artificial Intelligence IT Leadership news Atos may sell national security activities to French government The troubled IT service provider could net up to $1 billion from the sale, meeting most of its financing needs for the next year. By Peter Sayer Apr 29, 2024 4 mins Government IT Government Managed IT Services feature Top 10 barriers to strategic IT success Data challenges, tech debt, and talent shortages are among the issues that can derail your IT org’s work on high-value initiatives. Here’s how some CIOs are addressing them. By Mary Pratt Apr 29, 2024 12 mins Hiring IT Skills Business IT Alignment PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe