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Alfabet FastLane vs ServiceNow Strategic Portfolio Management comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

Alfabet FastLane
Ranking in Project Portfolio Management
15th
Average Rating
8.0
Number of Reviews
1
Ranking in other categories
Enterprise Architecture Management (18th)
ServiceNow Strategic Portfo...
Ranking in Project Portfolio Management
2nd
Average Rating
8.0
Number of Reviews
31
Ranking in other categories
Enterprise Agile Planning Tools (5th)
 

Mindshare comparison

As of November 2024, in the Project Portfolio Management category, the mindshare of Alfabet FastLane is 0.7%, down from 1.1% compared to the previous year. The mindshare of ServiceNow Strategic Portfolio Management is 13.2%, up from 12.6% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Project Portfolio Management
 

Featured Reviews

Onkgopotse Samuel Motshabi - PeerSpot reviewer
Apr 24, 2023
A clear view for managing portfolio growth, governance, and cost drivers or containment
I have just started toward the goal of implementation, so don't have much knowledge of the solution beyond my initial training. It is important for any company to define what they want from the solution. For example, one recommendation is that companies pick questions they want answered right at the outset. One company might say they want to know about their application landscape. Another company might say they want to see cost drivers. If you strategically prioritize your questions, then you will be able to go through implementation with less pain. Based on my use so far, I see the potential of the solution. I have been part of the company for a long time so I understand its pain points. I believe the solution is the right tool to get a clear view of governance, cost drivers, and cost containment. I rate the solution an eight out of ten.
Srinivasa Neelapu - PeerSpot reviewer
Jun 7, 2024
Strategies and goals are aligned with demands and partners, making it a strategic approach for the enterprise but the finance part needs improvement
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.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"The solution has provided us with a view of the truth in terms of our application portfolio."
"The demand management tool is very strategic because it helps assess risk, gives you a visual of different demands, and rates those values."
"The ease of use is the most valuable feature. It's very intuitive to set up."
"Information management is very beneficial for our customers."
"Stable and scalable solution."
"The resource manager is useful."
"ServiceNow brings to the market different layers with different pricing, so you can customize. And all the layers are really enterprise-ready."
"The most important feature of ServiceNow IT Business Management is flexibility."
"It's a very complete solution."
 

Cons

"The initial setup is challenging because it relies on information from different stakeholders."
"ServiceNow needs to invest more in integration. That's the only thing. It could always extend its portfolio a little bit."
"The cost could be improved. The solution is quite pricey."
"The pricing is average."
"The product does not give us the freedom to capture all the instances, test cases, and evidence."
"I would like to see some artificial intelligence incorporated into the management functions."
"It could be more user-friendly."
"ServiceNow Strategic Portfolio Management could improve by having more Agile features. Other solutions, such as Rally have more."
"The interface isn't user-friendly."
 

Pricing and Cost Advice

"I am with a third-party so am not privy to costs."
"I rate the price of ServiceNow Strategic Portfolio Management a seven out of ten."
"The pricing is negotiable based on the contract and licensing perspective."
"The cost of the solution should not be more than $50,000 annually."
"I would rate the cost as five out of ten."
"We have a team of about 6,500 employees across the globe. So, the amount of money I'm going to save by putting the money on the table for the implementation and licenses is very high."
"The licensing is based on metrics and is tailored to customer's needs."
"It's more suitable for larger companies as the licensing cost is relatively high. Not everyone can afford this tool."
"The solution is expensive."
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Top Industries

By visitors reading reviews
Financial Services Firm
23%
Manufacturing Company
13%
Computer Software Company
6%
Venture Capital & Private Equity Firm
6%
Financial Services Firm
15%
Manufacturing Company
13%
Government
10%
Computer Software Company
9%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
 

Questions from the Community

What do you like most about Alfabet FastLane?
The solution has provided us with a view of the truth in terms of our application portfolio.
What needs improvement with Alfabet FastLane?
The initial setup is challenging because it relies on information from different stakeholders.
What do you like most about ServiceNow Strategic Portfolio Management?
We mainly use the solution to support operations and align our ITSM operations with our business goals. This involves coordinating between our application development, support teams, and network en...
What is your experience regarding pricing and costs for ServiceNow Strategic Portfolio Management?
The pricing is average. They always have some extra options to add. I rate the product’s pricing a six out of ten, where one is cheap, and ten is expensive.
What needs improvement with ServiceNow Strategic Portfolio Management?
If we have enough information, we can address issues from the cloud to the top level of the organization. This allows us to see if our resources are being allocated properly from an executive persp...
 

Also Known As

Alfabet Cloud
IT Business Management, ServiceNow IT Business Management Suite, ServiceNow ITBM Suite, ServiceNow ITBM
 

Overview

 

Sample Customers

Information Not Available
Proximus, UNT SYSTEM, SAP SuccessFactors
Find out what your peers are saying about monday.com, ServiceNow, Broadcom and others in Project Portfolio Management. Updated: July 2024.
814,649 professionals have used our research since 2012.