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Most ServiceNow customers and almost every ServiceNow Partner are well aware of ServiceNow's capability to review demands, create and manage projects through their lifecycles, and even assess the availability of resources in your company for your desired goals. Initially, these functionalities were part of ServiceNow’s ITBM – or IT Business Management - suite. However, last year, ServiceNow significantly transformed the product and gave it a new name that encapsulates its purpose: SPM, or Strategic Portfolio Management.
ServiceNow: ITBM or SPM?
Let's stop and look at the difference before and after the transformation. SPM was built based on the foundation of the time-tested ITBM structure, with carefully-designed new touches of genius that can make a difference across the entire enterprise, not just the IT department.
We can all agree that technology is now an inseparable part of business operations. The smartphone apps our customers use to reach us are connecting to our systems simultaneously. IoT-connected devices in manufacturing or quality-assurance processes are reporting on performance in real time. Interconnected transport services nowadays don't just get our people where they need to be, but are also letting us know where we are and when we'll be getting to our destinations. Cutting-edge technology is no longer the reserve of IT, and the tool that once supported IT is now essential to guide every part of our world.
Our Boardrooms are no different. Strategic Portfolio Management empowers those responsible for a company’s strategy to have complete control of the organisation at their fingertips. With SPM, they can craft a strategic plan tailored to their company's needs, aligning priorities with budgetary decisions for the upcoming year.
Fuels your projects with Strategic Portfolio Management
But how do we get there? Any ideas that hold the potential – whether they’re up in the boardroom or out at the bedrock – can be harnessed in SPM through the Idea Module.
And when we come across a promising idea, we can get it under the microscope and work out if it will work. What would it take to bring it to life? What are the potential benefits? All these can be evaluated within SPM's Demand Record.
Once these ideas have been refined and validated, we can then proceed to the fulfilment stage. Whether your organisation relies on Scrum Agile teams, Project Managers working with gateways and deadlines, or a combination of both, ServiceNow’s Project and Agile Services can support your preferred approaches.
Of course, managers and senior leaders will want to keep track of the progress and have an understanding of how resources spent are being converted into output. In terms of project timelines, the burndown chart or the next release date may also be of the leadership's interest. Strategic Planning Workspace in the SPM suite pulls the data points into one place and equips them with intuitive filters so that the management can get the answers they need all on one page. If there are deviations from the original plan, managers can identify them and implement corresponding measures directly from the same page.
