According to Boston Consulting Group, “Financial institutions that digitize the most important consumer journeys can increase revenues up to 20% and reduce costs by up to 25%.” If you’ve already implemented ServiceNow ITSM in your bank, it’s clear that the benefits—financial and otherwise—could be useful in all areas of the bank. But where to start?
A great ServiceNow partner can help your team expand the platform and help you make sure you are getting the full value of your investment. Great partners help you plan ahead, can make changes rapidly, take an advisory approach, and have a proven track record. Those qualities make all the difference in your ServiceNow expansion experience.
The best ServiceNow partners help you plan ahead and create a vision.
When you’re planning the best way to expand ServiceNow, it’s important to do it with your long-term vision in mind. “The vision is about your goals for the future and how you will get there,” says Paige Arnof-Fenn, founder and CEO of Mavens & Moguls. Remember, a goal without a plan is just a wish, and that is absolutely true when it comes to ServiceNow!
The best ServiceNow partners won’t just implement ServiceNow ITSM and then leave you to figure out the rest on your own; they’ll work with you to create a roadmap in which short-term ServiceNow choices can power long-term goals. For example, your bank might have a goal that by 2030, your financing will have shifted to an entirely different sector, or maybe the vision involves widely disseminated technology to better serve customers, or an entirely different relationship with fintechs. In each of these cases, the best partners would help you plan a phased rollout of ITBM or CSM, and they would be available to help you make any changes as needed.
According to Deloitte’s 2020 banking and capital markets outlook, “More than 80 percent of financial institutions surveyed believe their organization is not effective or only somewhat effective in developing leaders that can keep up with work’s rapid pace of change.”
That’s where the right partner can make all the difference. When you’re expanding ServiceNow, you want to make sure you’re doing it with velocity—with both speed and direction. As discussed above, direction or vision is crucial when it comes to expanding the platform. And speed is crucial to keep up with the rapid pace of today’s competitive digital environment.
Let’s say it’s time to expand your ServiceNow instance to include ITAM. The best partner will already know your bank really well. They’ll be familiar with your challenges, goals, and culture, and they’ll know how best to approach the project. They’ll also have deep experience with ServiceNow implementations and will have best practices in place to help them get going quickly.
The best partners take an advisory approach for long-term success.
What difference does an advisory approach make when it comes to your ServiceNow expansion? The advisory approach sits at a happy medium between two extremes: a partner that tells you exactly what to do without understanding your goals and a partner that does what you ask without adding any expertise. A partner that takes an advisory approach understands your organization’s goals and gives their best advice on how to move forward for long-term success.
With these areas of expertise, plus our experience with ServiceNow implementations, we’re able to work together with our clients to expand ServiceNow strategically. Let’s say one of our banking clients is adding CSM to their ServiceNow instance. We’ll work with them to develop scopes of work, plan roadmaps, create procedural documentation, and provide user training for their customer service team. Our goal would be to fill in any gaps in expertise and help them reach their ultimate growth and performance goals.
The best ServiceNow partners have a proven track record.
It’s no surprise that it’s desirable to find a partner with ServiceNow expansion experience, especially when it includes projects in the banking industry. Partners with this kind of experience will have the industry-specific knowledge they need to be a true asset in the expansion process. So, find a partner with a proven track record for successful ServiceNow expansion projects in the banking industry. Check out their case studies and find out which banks they’ve been able to help.
The best partners help you plan ahead, can make changes rapidly, take an advisory approach, and have a proven track record. Find a partner with those qualities, and you’ll be sure to get the full value of your investment in the ServiceNow as you expand the platform across your bank.
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