ServiceNow Strategic Portfolio Management Reviews

Name: ServiceNow Strategic Portfolio Management
Brand: ServiceNow
Rating: 4.0 (31 reviews)

Vendor: ServiceNow

4.0 out of 5

31 reviews
96% willing to recommend

249 followers

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What is ServiceNow Strategic Portfolio Management?

ServiceNow Strategic Portfolio Management is a highly regarded value-added Portfolio Management solution and also a top-ranked Enterprise Agile Planning tool. Strategic Portfolio Management (SPM) relates to the tools and processes that business organizations utilize to manage their usable resources and satisfy calculated business objectives.

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ServiceNow Strategic Portfolio Management is the #2 ranked solution in top Project Portfolio Management solutions and #5 ranked solution in top Enterprise Agile Planning Tools. PeerSpot users give ServiceNow Strategic Portfolio Management an average rating of 8.0 out of 10. Based on the analysis of the 31 most recent ServiceNow Strategic Portfolio Management reviews, the overall sentiment is positive, with a sentiment score of 7.3. ServiceNow Strategic Portfolio Management is most commonly compared to monday.com: ServiceNow Strategic Portfolio Management vs monday.com. ServiceNow Strategic Portfolio Management is popular among the large enterprise segment, accounting for 75% of users researching this solution on PeerSpot. The top industry researching this solution are professionals from a financial services firm, accounting for 15% of all views.

Buyer's Guide

ServiceNow Strategic Portfolio Management

October 2024

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Featured reviews

Srinivasa Neelapu

Associate Director - ServiceNow Lead Platform Architect at Novartis Pharmaceuticals

SPM is definitely strong for project management, but its finance capabilities are not as robust. While there is a separate Financial Management product, it would be beneficial to have more out-of-the-box support for finance integrations within SPM. I’m not suggesting replacing systems like SAP for finance, but there should be better support for financial integrations. Currently, connecting to SaaS solutions is complicated, and getting into detailed financial calculations is challenging. Forecasting is manageable, but handling actual financials is not as straightforward. The finance area needs improvement, specifically making finance application integrations easier. Generic finance capabilities should be more user-friendly and integrated into SPM. Although they have started this journey, it hasn’t been fully released yet. There seems to be a roadmap, and once complete, it will be very useful. Additionally, incorporating a Q&A feature for entire strategies or project demands and enhancing text analytics within SPM would be beneficial.

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FabrizioMagistrelli

Head of Business Applications at Bio Products Laboratory Limited

The ease of use is the most valuable feature. It's very intuitive to set up. Everything has a logical sequence, and you can see how it all links together. It's a good win for ServiceNow. We also chose this solution because we're building an environment of ServiceNow. We're looking at the financial side, so it's almost like we have a single pane of glass of how we're running the business in terms of IT. The more we use it, the more value we're getting out of it.

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Karthik Kambhampti

Solution Director - Service Management at Microland Limited

The solution is an evolving strategic portfolio manager. It is part of an evolving landscape. Every organization has big challenges, and different customer challenges vary greatly. When the generic model caters to most of those challenges, specific use cases may require a good understanding and depth of the customer's perspective. However, we sometimes see a lack of technical support, as it is often more specific to what the product offers rather than how to tweak it to meet the customer's needs. This means there may not be a clear definition of progressing and addressing the customer's scenario. That is a challenge that we typically address, but we do not get extended support around the product.

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ServiceNow Strategic Portfolio Management mindshare

Product category:

As of November 2024, the mindshare of ServiceNow Strategic Portfolio Management in the Project Portfolio Management category stands at 13.2%, up from 12.6% compared to the previous year, according to calculations based on PeerSpot user engagement data.

Project Portfolio Management

Key learnings from peers

Last updated Nov 21, 2024

Valuable Features

ServiceNow Strategic Portfolio Management is valued for its user-friendly interface, integration capabilities, and flexibility in managing portfolios. It supports multiple methodologies like Agile and traditional, provides comprehensive management from idea to implementation, and offers robust demand management features. Companies appreciate its ability to centralize information, customize approval flows, visualize resources, and provide real-time analytics. Its incident, change, and risk management enhance strategic operations, making it valuable for diverse project tracking and organizational alignment.

"Information management is very beneficial for our customers."
"It manages portfolios and aligns our current portfolio with internal changes."
"The new feature includes different lenses, such as the organizational lens or project manager lens, allowing us to view data through various perspectives. Previously, the journey started with demand, project, and idea management."

Room for Improvement

ServiceNow Strategic Portfolio Management could improve user-friendliness and cost-effectiveness. The interface is complex, impacting ease of use, and reporting features are limited and difficult to customize. Integration with financial management and other systems poses challenges. Test management lacks depth and agility features could be expanded. The cost is high for medium-sized organizations, and out-of-the-box features are limited, often requiring customization. Improvements in AI, machine learning, and finance integration are needed.

"The pricing is average."
"ServiceNow need to focus on internal empowerment rather than awareness to drive the change."
"SPM is definitely strong for project management, but its finance capabilities are not as robust."

ROI

Users experienced significant ROI with ServiceNow Strategic Portfolio Management. They consolidated applications and gained full visibility, reducing costs and aiding business decisions. By streamlining planning and forecasting, teams collaborated effectively across geographies. ServiceNow's flexibility in integrations and maintainability offered an end-to-end understanding of business operations. Insights from data facilitated business change, while improvements in time to market further contributed to a substantial return, with one rating ROI at four out of five.

Pricing

Enterprise users find ServiceNow Strategic Portfolio Management expensive compared to alternatives like CA and Atlassian, with costs varying based on region, licenses, and additional features or integrations. Pricing models and licensing structures can be complex, with fees for support and supplementary applications potentially increasing total expenses. Although some believe the ROI justifies the cost, it's often deemed suitable primarily for larger organizations. The solution's overall pricing is often rated between six and eight out of ten.

"The pricing is negotiable based on the contract and licensing perspective."
"It's more suitable for larger companies as the licensing cost is relatively high. Not everyone can afford this tool."
"The tool is expensive."

Popular Use Cases

ServiceNow Strategic Portfolio Management is utilized for project, portfolio, incident, and demand management. Organizations leverage it for resource allocation, Agile development, and strategic planning. It facilitates workflow optimization, analytics, and reporting. Users integrate it with other systems for seamless connectivity across various methodologies. IT service management, governance processes, and service mapping are streamlined using this platform. It is implemented for both enterprise agile planning and traditional management approaches in diverse industries.

Service and Support

Many users rely on internal teams for questions related to ServiceNow Strategic Portfolio Management. Some find the support team responsive and knowledgeable, even rating them highly. Several note the proficiency and availability of documentation and training programs. A few mention slower response times or needing more context-specific help. Generally, the technical team's expertise and dedication are recognized, although there are occasional suggestions for faster responses and deeper customization assistance.

Deployment

ServiceNow Strategic Portfolio Management's initial setup experiences vary. Some find it straightforward and quick, likening it to setting up a social media account, while others consider it complex, requiring careful project management and potentially several months to complete. It often involves customization and configuration challenges, with deployment times ranging from weeks to months. Users mention that understanding data structures and processes is crucial, and certain integrations and customizations can increase complexity, affecting ease and time of implementation.

Scalability

ServiceNow Strategic Portfolio Management is highly scalable, supporting thousands of users across various industries. Organizations find it easy to expand usage while maintaining performance despite occasional speed issues due to hosting. Customization options enhance its adaptability for different departments, while effective data model configuration improves scalability. It's particularly suited for larger enterprises due to licensing costs, yet medium enterprises can benefit from it if correctly configured. Many report a high rating for scalability.

Stability

ServiceNow Strategic Portfolio Management exhibits strong reliability, consistently maintaining high uptime and availability around 99.9% to 99.98%. While occasional performance slowdowns occur, particularly during heavy tasks like report generation or API requests, stability remains a highlight. Users rate it between six and ten out of ten, depending on personal customizations. Frequent releases can extend upgrade cycles, but ongoing support ensures enduring performance. Past issues are rare and typically due to misconfigurations.

These insights are based on the in-depth reviews provided by peers to help you make a better buying decision.

Download our ServiceNow Strategic Portfolio Management Buyer's Guide for additional reliable information.

Review data by company size

By reviewers

By visitors reading reviews

Top industries

By visitors reading reviews

Financial Services Firm

15%

Manufacturing Company

13%

Government

10%

Computer Software Company

Healthcare Company

University

Energy/Utilities Company

Construction Company

Retailer

Real Estate/Law Firm

Insurance Company

Educational Organization

Non Profit

Hospitality Company

Media Company

Logistics Company

Wholesaler/Distributor

Recreational Facilities/Services Company

Consumer Goods Company

Legal Firm

Transportation Company

Performing Arts

Outsourcing Company

Aerospace/Defense Firm

Comms Service Provider

Pharma/Biotech Company

Compare ServiceNow Strategic Portfolio Management with alternative products

Learn more about ServiceNow Strategic Portfolio Management

ServiceNow SPM ensures organizations are able to precisely identify and promote the best investment initiatives that accurately match the organizational objectives, which will facilitate that the most profitable outcomes are consistently achieved.

Enterprise organizations can include the desired various factors of their business processes to include in their unique strategic portfolio. These factors can include but are not limited to employee performance initiatives, product promotions, client services, and more. When assembled together, these factors become integral elements to promote the most effective business process decisions that will ensure appropriate outcomes that align with the organization's overall goals and objectives.

ServiceNow SPM Best Practices

Evaluate and catalog: Organizations should ensure that all stakeholders are aware and in agreement with the organization's goals and objectives, both short and long-term. Additionally, all the elements and components that are needed to accomplish those objectives have been accounted for and are available.
Set effective parameters: The organization should set clear parameters to monitor processes and performance to ensure that objectives are being maintained and consistently satisfied.
Productivity analysis: Review processes to eliminate redundancies to maintain balance and process alignment so that desired outcomes can be achieved.
Continuous process management: ServiceNow SPM provides a single transparent view that includes all processes (pending, ongoing, or completed) and how they align with the overall organizational goals and objectives.

ServiceNow Strategic Portfolio Management Benefits:

ServiceNow Strategic Portfolio Management has many valuable benefits. Some of its most valuable benefits include:

Big Picture Visualization
Improved Decision Making
Improved Process Management
Seamless Scalability
Increased Productivity
Improved Efficiency
Improved Time Management
Better Outcomes
Improved Communication
Comprehensive Reporting and Tracking
Improved Return on Investment

ServiceNow Strategic Portfolio Management's primary focus is to align business strategy with work. Decision-makers are able to plan, complete and easily track progress across different methodologies and processes. The solution has been developed to ensure that the appropriate activities and processes are being completed in a timely manner to satisfy the organization’s goals consistently and achieve the most profitable outcomes.

Reviews from Real Users

“The feature I find the most valuable is the one that lets you see how much time has been used in processing a ticket. This allows us to better monitor performance.” Lenny L., Support Engineer at a tech services company

“The ease of use is the most valuable feature. It's very intuitive to set up. Everything has a logical sequence, and you can see how it all links together. It's a good win for ServiceNow.” Fabrizio M., Head of Business Applications at Bio Products Laboratory Limited

“The demand management tool is very strategic because it helps assess risk, gives you a visual of different demands, and rates those values.” A Manager at a manufacturing company.

ServiceNow Strategic Portfolio Management was previously known as IT Business Management, ServiceNow IT Business Management Suite, ServiceNow ITBM Suite, ServiceNow ITBM.