Returning to the office after the spread of the novel coronavirus is almost like coming into a whole new world. ServiceNow’s (NYSE:NOW) enterprise software and cloud-computing services can help workers navigate the “new normal.” Investors, meanwhile, can profit from emerging digital-workflow trends through a position in ServiceNow stock.
Digital workflow-management solutions certainly existed prior to the onset of the Covid-19 pandemic. However, the coronavirus forced many businesses into the cloud while accelerating the work-from-home digital revolution.
In adapting and responding to this new working environment, ServiceNow has jumped on the opportunity to expand its employee-workflow portfolio. That’s terrific news for ServiceNow’s shareholders as it’s emblematic of the company’s commitment to helping employees return to work as safely and comfortably as possible.
ServiceNow Stock at a Glance
It’s amazing to think that ServiceNow was a $25 stock less than a decade ago. You won’t likely get to purchase the shares at that price anytime in the near future. Still, you could position yourself for strong upside potential even at the current share price.
If you haven’t gotten on board already, you missed out a recent deep dip in the stock price when the coronavirus was sending the global economy into a tailspin. For a brief time in April, the price of ServiceNow’s stock dropped below the $250 level.
It didn’t take too long before the stock recovered from that dip and powered its way above $400. That’s not extremely cheap, but there’s really nothing stopping the stock from continuing its march to new heights as the momentum is unmistakably to the upside.
Preparing Workers for a Safe Return
A recent and welcome addition to ServiceNow’s digital-workflow software offerings is a four-app suite known as ServiceNow Safe Workplace. Its purpose is to help companies return their employees to the workplace while supporting their safety and health.
The apps can be summed up as follows:
- Through a series of targeted questions, the Employee Readiness Surveys app can help gauge a company’s workforce’s preparedness to return to work. The employees’ responses, companies can take action to facilitate a smoother and safer re-entry.
- From monitoring temperatures to checking for personal protective equipment (PPE), the Employee Health Screening app can help employers ensure that it’s safe employees to re-enter the workplace.
- Workspace cleaning, social distancing and staggered shifts are all measures that safety-conscious employers can enforce. The Workplace Safety Management app is designed to give workplace managers a real-time view of these measures as they’re implemented, thereby helping to ensure compliance for everyone’s sake.
- Real-time inventory management of protective equipment can offer an added layer of security to the modern workplace. The Workplace PPE Inventory Management app can provide workplace managers with a comprehensive view of the relevant inventory for a specific facility or even for the entire workplace.
Taking Safety to the Next Level
Nearly 400 customers around the world implemented more than 1,600 downloads of the ServiceNow Safe Workplace apps. Along with the safety-related benefits, there could be major cost-reduction potential with these apps as, according to the company, “using these apps can help companies deliver $1M of labor productivity for every 10,000 employees.”
Moreover, ServiceNow has stepped up its safety-minded app offerings even further with a new Contact Tracing app. The objective is to enhance workplace safety by “identifying potentially exposed employees based on workplace data.”
Along with collecting essential data, the Contact Tracing app executes a number of follow-up activities. These can include check-ins and interviews as well as location sanitizing and closure. And ultimately, the app could assist businesses in assessing their potential risks if they choose to remain open.
The Final Word
The lowest prices for NOW stock are, in all likelihood, in the past. Nonetheless, in a time when returning workers to a safe space is of heightened importance, it’s worth taking a position in a responsive and innovative company like ServiceNow.
Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.