The partnership between Qualtrics and ServiceNow re-establishes a connection between ServiceNow CEO, Bill McDermott, and the company that he bought during the final months of his tenure at SAP. That deal was criticised by some analysts due to the price tag – $8bn for a company that was valued at £2.5bn in its last round of funding and still a significant premium over its proposed IPO price of $4.5bn. However, as McDermott noted to me in a recent interview: “Nobody questioned if it was a good company. Nobody questioned whether it was a clever idea. They just questioned the price tag. But when SAP spun Qualtrics out it had a $20bn market cap, not $8bn, so check that box.”
The integration will combine ServiceNow’s digital workflows with Qualtrics’ experience management technology to allow organisations to harness and act on customer and employee experience data captured using surveys on the Now Platform, in real time, to quickly resolve issues and improve engagement, loyalty, and retention.
Michael Ramsey, VP of customer workflow products at ServiceNow, said: “What it means to truly know your customer has changed. Organisations need to deliver empathy at mass scale in every interaction to retain customers and drive growth in 2022. Access to rich customer insights allows agents to respond to individual needs and powers digital workflows that drive great experiences, customer loyalty, and empathy.”
Jay Choi, chief product officer at Qualtrics, added: “Great experiences are the currency of modern business. The experiences that companies deliver today can become their greatest competitive advantage tomorrow. Companies that understand and act on experience data – the feedback that employees and customers share with them – to deliver incredible service experiences will successfully build long-term, meaningful relationships.”