ServiceNow Inc (NOW) 2021 Q4 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to ServiceNow's Fourth Quarter Fiscal 2021 Earnings Call. (Operator Instructions) Thank you. Darren Yip, Vice President of Investor Relations, you may begin your conference.

女士們，先生們，感謝你們的支持，歡迎參加 ServiceNow 的 2021 財年第四季度財報電話會議。 （操作員說明）謝謝。 Darren Yip，投資者關係副總裁，您可以開始您的會議了。

Good afternoon, and thank you for joining ServiceNow's Fourth Quarter and Full Year 2021 Earnings Conference Call. Joining me are Bill McDermott, our President and Chief Executive Officer; and Gina Mastantuono, our Chief Financial Officer. During today's call, we will review our fourth quarter 2021 results and discuss our guidance for the first quarter and full year 2022.

下午好，感謝您參加 ServiceNow 的 2021 年第四季度和全年收益電話會議。加入我的還有我們的總裁兼首席執行官 Bill McDermott；和我們的首席財務官 Gina Mastantuono。在今天的電話會議中，我們將回顧 2021 年第四季度的業績，並討論我們對 2022 年第一季度和全年的指導。

Before we get started, we want to emphasize that some of our information discussed on this call such as guidance is based on information as of today and contains forward-looking statements that involve risks, uncertainties and assumptions, including those related to the impact of COVID-19 on our business and global economic conditions. We undertake no duty or obligation to update such statements as a result of new information or future events. Please refer to today's earnings press release and our SEC filings, including our most recent 10-Q and our 2021 10-K that will be filed for factors that may cause actual results to differ materially from those set forth in such forward-looking statements.

在開始之前，我們要強調的是，我們在本次電話會議上討論的一些信息（例如指南）基於截至今天的信息，並且包含涉及風險、不確定性和假設的前瞻性陳述，包括與 COVID 影響相關的陳述-19 關於我們的業務和全球經濟狀況。我們不承擔因新信息或未來事件而更新此類聲明的義務或義務。請參閱今天的收益新聞稿和我們向美國證券交易委員會提交的文件，包括我們最近的 10-Q 和 2021 年 10-K，這些文件將針對可能導致實際結果與此類前瞻性陳述中所述的因素產生重大差異的因素提交。

We'd like to also point out that we have presented non-GAAP measures in addition to and not as a substitute for financial measures calculated in accordance with GAAP. Unless otherwise noted, all financial measures and related growth rates we discuss today are non-GAAP, except for revenues, remaining performance obligations, or RPO, and current RPO. To see the reconciliation between these non-GAAP and GAAP measures, please refer to today's earnings press release and investor presentation, which are both posted on our website at investors.servicenow.com. A replay of today's call will also be posted on our website.

我們還想指出，我們已經提出了非 GAAP 措施，而不是作為根據 GAAP 計算的財務措施的替代品。除非另有說明，我們今天討論的所有財務指標和相關增長率都是非公認會計原則，但收入、剩餘履約義務或 RPO 和當前 RPO 除外。要查看這些非 GAAP 和 GAAP 措施之間的協調，請參閱今天的收益新聞稿和投資者演示文稿，它們都發佈在我們的網站 Investors.servicenow.com 上。今天電話會議的重播也將發佈在我們的網站上。

With that, I'd now like to turn the call over to Bill.

有了這個，我現在想把電話轉給比爾。

Thank you very much, Darren, and a warm welcome to everybody joining us on today's call. ServiceNow has once again delivered results that significantly beat the high end of expectations.

非常感謝您，Darren，並熱烈歡迎大家加入我們今天的電話會議。 ServiceNow 再次交付了大大超出預期的結果。

Here's the Q4 rundown in constant currency. Subscription revenue growth was 30%. CRPO growth was 32%. Free cash flow growth was 32%. Adjusted subscription billings growth was an exceptional 33%. Operating margin was 23%, 1 point over our guidance. We had a record 135 deals over $1 million, which was up 50% year-over-year. There has long been a Rule of 40 benchmark for highly successful software companies. These results demonstrate that ServiceNow operates beyond the Rule of 60. The company is expanding in all geographies, industries and buyer personas. Gina will share the details in a few moments, including our strong 2022 guidance.

這是第四季度不變貨幣的概要。訂閱收入增長 30%。 CRPO 增長率為 32%。自由現金流增長32%。調整後的訂閱費用增長了驚人的 33%。營業利潤率為 23%，比我們的預期高 1 個百分點。我們有創紀錄的 135 筆超過 100 萬美元的交易，同比增長 50%。對於非常成功的軟件公司，長期以來一直存在 40 條基準。這些結果表明，ServiceNow 的運營超出了 60 條規則。該公司正在所有地區、行業和買家角色中進行擴張。 Gina 將在稍後分享詳細信息，包括我們強有力的 2022 年指導。

ServiceNow is uniquely positioned. We're growing like a fast-moving start-up with the profitability of a global market leader. We're on a clear growth trajectory to $15 billion plus by 2026. While our strong cash position preserves optionality, we don't depend on M&A for growth. While rising interest rates challenge others, ServiceNow's business model is built to flourish in any economic environment. We are not opportunity constrained as our customers' need for digital transformation is ever expanding. Our organic growth machine is in full flight, and our pipeline is stronger than ever. Our 99% renewal rate is one of several lead indicators for sustained performance moving forward. I'd like to thank all of our stakeholders, especially our customers, for their steadfast confidence in ServiceNow.

ServiceNow 定位獨特。我們正在像一家快速發展的初創公司一樣成長，擁有全球市場領導者的盈利能力。我們的增長軌跡明確，到 2026 年將達到 150 億美元以上。雖然我們強大的現金頭寸保留了選擇性，但我們不依賴併購來實現增長。雖然利率上升對其他人提出了挑戰，但 ServiceNow 的商業模式旨在在任何經濟環境中蓬勃發展。我們不受機會限制，因為我們的客戶對數字化轉型的需求不斷擴大。我們的有機增長機器正在全速運轉，我們的管道比以往任何時候都更強大。我們 99% 的續訂率是持續向前發展的幾個主要指標之一。我要感謝我們所有的利益相關者，尤其是我們的客戶，感謝他們對 ServiceNow 的堅定信心。

I'll give you the breakdown of our portfolio results, but first, let's discuss the market dynamics. We're in a sustained demand environment here. There are structural challenges facing every industry in every geographic region. The great resignation, supply chain disruption, inflation, to name a few. These underscore a point we have made consistently: the technology strategy has become the business strategy.

我將為您提供我們投資組合結果的細分，但首先，讓我們討論市場動態。我們在這里處於持續的需求環境中。每個地理區域的每個行業都面臨著結構性挑戰。大辭職、供應鏈中斷、通貨膨脹等等。這些都強調了我們一貫提出的一個觀點：技術戰略已成為業務戰略。

Digital technologies are growth stimulating deflationary force. They power new business models, accelerating productivity while reducing costs. 85% of chief executives will sustain or increase technology budgets this year, and that's according to IDC's global CEO survey. IDC has increased their forecast for digital transformation, now a $10.7 trillion opportunity through 2025. Gartner forecasts worldwide software spending will increase 12% in 2022. The data shows this is clearly more than a pandemic-induced transformation.

數字技術是增長刺激通貨緊縮的力量。它們為新的商業模式提供動力，在降低成本的同時提高生產力。根據 IDC 的全球 CEO 調查，今年 85% 的 CEO 將維持或增加技術預算。 IDC 提高了對數字化轉型的預測，現在到 2025 年將有 10.7 萬億美元的機會。Gartner 預測，到 2022 年，全球軟件支出將增長 12%。數據顯示，這顯然不僅僅是大流行引發的轉型。

A CEO I spoke to last week said it perfectly, "I have a long list of strategic priorities. Technology isn't one of them. It runs through all of them."

上週與我交談過的一位 CEO 完美地說：“我有一長串戰略優先事項。技術不是其中之一。它貫穿所有這些。”

ServiceNow's Q4 results clearly validate the structural incline of this digital economy. As enterprises build, deploy, monitor and service technology, our IT workflow business is at the core. IT service management was in 16 of our top 20 Q4 deals, with 19 deals over $1 million. IT operations management was in 18 of our top 20, with 21 deals over $1 million.

ServiceNow 的第四季度業績清楚地驗證了這種數字經濟的結構性傾向。隨著企業構建、部署、監控和服務技術，我們的 IT 工作流業務處於核心地位。 IT 服務管理是我們第四季度前 20 筆交易中的 16 筆，其中 19 筆交易超過 100 萬美元。 IT 運營管理在我們的前 20 名中佔 18 名，其中 21 筆交易超過 100 萬美元。

Bell Canada, Canada's largest telco company, uses IT workflows and IT operations management to enable its operations. Our platform will improve critical dimensions of both asset management and the employee experience. ServiceNow will also be supporting the United States Space Force to connect its space operators with war fighters across the globe.

加拿大最大的電信公司 Bell Canada 使用 IT 工作流和 IT 運營管理來實現運營。我們的平台將改善資產管理和員工體驗的關鍵方面。 ServiceNow 還將支持美國太空部隊將其太空運營商與全球作戰人員聯繫起來。

The hyper focus on hybrid work continues to propel our Employee Workflows business. HR service delivery was in 11 of our top 20 deals with an exciting 24 deals over $1 million. Johnson Controls International, a smart building solutions leader, will use employee workflows to unlock productivity for its 105,000 employees. Together with ServiceNow, they are focused on creating a human-centered approach to the employee experience. NVIDIA is using employee workflows to support its employee experience transformation. With ServiceNow, NVIDIA will provide its global employees a unified service model to support its mission by providing a frictionless employee experience. CVS Health will also leverage our technology and employee workflows to help deliver a best-in-class colleague experience.

對混合工作的高度關注繼續推動我們的員工工作流程業務。在我們的前 20 筆交易中，有 11 筆是人力資源服務交付，其中 24 筆交易超過 100 萬美元。智能建築解決方案領導者江森自控國際將使用員工工作流程為其 105,000 名員工釋放生產力。與 ServiceNow 一起，他們專注於創建以人為本的員工體驗方法。 NVIDIA 正在使用員工工作流程來支持其員工體驗轉型。借助 ServiceNow，NVIDIA 將為其全球員工提供統一的服務模型，通過提供順暢的員工體驗來支持其使命。 CVS Health 還將利用我們的技術和員工工作流程來幫助提供一流的同事體驗。

As business integration is key to customer service, our Customer Workflows business is thriving. Customer service management was in 13 of our top 20 deals, with 10 deals over $1 million. Google Cloud plans to use our customer workflows to enhance its customer support operations. British Telecom chose ServiceNow to address the needs of its next generation of customers. The ServiceNow platform will help BT accelerate the delivery of new services from 36 weeks to 3. Our new industry vertical solutions also continue to gain traction with wins at major brands, including SAS Institute, Deutsche Telekom and Wellstar.

由於業務集成是客戶服務的關鍵，我們的客戶工作流程業務正在蓬勃發展。客戶服務管理在我們的前 20 筆交易中佔 13 筆，其中 10 筆交易超過 100 萬美元。 Google Cloud 計劃使用我們的客戶工作流程來增強其客戶支持運營。 British Telecom 選擇 ServiceNow 來滿足其下一代客戶的需求。 ServiceNow 平台將幫助 BT 將新服務的交付時間從 36 週縮短至 3 週。我們新的行業垂直解決方案也繼續受到包括 SAS Institute、Deutsche Telekom 和 Wellstar 在內的主要品牌的青睞。

Technology teams alone can't build the 500 million new applications IDC forecasts by 2023. Our Creator Workflows business is leading the citizen developer revolution. Our platform solutions were in 19 of our top 20 deals. Lockheed Martin, the world's largest aerospace and defense company, is using ServiceNow to support its enterprise digital transformation. They will use our creator workflows to help automate processes globally. Petrobras, a Brazilian energy company, is using creator workflows as the foundation for its application development function. They have already built over 26 applications such as onboarding for oil platforms and managing data privacy regulations.

僅靠技術團隊無法構建 IDC 預測的到 2023 年 5 億個新應用程序。我們的 Creator Workflows 業務正在引領公民開發者革命。我們的平台解決方案出現在我們前 20 項交易中的 19 項。全球最大的航空航天和國防公司洛克希德馬丁公司正在使用 ServiceNow 來支持其企業數字化轉型。他們將使用我們的創建者工作流程來幫助在全球範圍內實現流程自動化。巴西能源公司 Petrobras 正在使用創建者工作流程作為其應用程序開發功能的基礎。他們已經構建了超過 26 個應用程序，例如石油平台的入職和管理數據隱私法規。

Together, these businesses, IT, customer, employee, creator, represent a next-generation suite built on a pure-play born in the cloud architecture. Our intuitive consumer-grade experience is expanding adoption of this platform everywhere, already 70 million users strong. This has created a unique moat in terms of ServiceNow's strategic relevance in the enterprise.

這些企業、IT、客戶、員工、創造者共同代表了基於雲架構中誕生的純遊戲構建的下一代套件。我們直觀的消費級體驗正在擴大該平台的使用範圍，已經擁有 7000 萬用戶。就 ServiceNow 在企業中的戰略相關性而言，這創造了一條獨特的護城河。

From a geographic perspective, we've continued to see momentum worldwide. This includes APJ with wins at Samsung SDS in South Korea and NEC in Japan. In EMEA, we're partnering with the French postal service, La Poste; and leading Italian energy company, Enel.

從地理角度來看，我們繼續在全球範圍內看到勢頭。這包括在韓國三星 SDS 和日本 NEC 中獲勝的 APJ。在歐洲、中東和非洲，我們與法國郵政服務公司 La Poste 合作；和領先的意大利能源公司 Enel。

As you can see, the digital opportunity is expanding dramatically for ServiceNow. Already, in 2022, we're taking significant steps on our long-term road map. We're introducing a state-of-the-art new solution, ServiceNow Impact. Leaders need a command center to navigate the fully connected world. ServiceNow Impact includes an intuitive consumer-grade mobile application that visualizes the value from transformation investments in real time on their device. As this experience speeds up user adoption, we anticipate a significant halo effect with broader consumption of our growing solutions portfolio.

如您所見，ServiceNow 的數字機會正在急劇擴大。到 2022 年，我們已經在我們的長期路線圖上邁出了重要的一步。我們正在推出最先進的新解決方案 ServiceNow Impact。領導者需要一個指揮中心來駕馭這個完全連接的世界。 ServiceNow Impact 包括一個直觀的消費級移動應用程序，可在其設備上實時可視化轉型投資的價值。隨著這種體驗加速了用戶的採用，我們預計隨著我們不斷增長的解決方案組合的更廣泛消費，會產生顯著的光環效應。

As our market opportunities expand, we are promoting strong leaders for scale. As a result of the consistent speed and unmatched quality of our innovation teams, we are expanding CJ Desai's role to Chief Operating Officer of the company. He will continue to lead products and engineering while also assuming industry and solution responsibilities for the company.

隨著我們市場機會的擴大，我們正在提拔強大的領導者以擴大規模。由於我們創新團隊始終如一的速度和無與倫比的質量，我們正在將 CJ Desai 的角色擴大為公司的首席運營官。他將繼續領導產品和工程，同時承擔公司的行業和解決方案職責。

Our top sales leader, Kevin Haverty, has executed at an art form level for more than 10 years at ServiceNow. Kevin will also step into a strategic role for the company, serving as a mentor for the next generation of ServiceNow leaders. He will work directly with me on expanding our footprint in the public sector worldwide.

我們的頂級銷售主管 Kevin Haverty 在 ServiceNow 以藝術形式執行了 10 多年。凱文還將擔任公司的戰略角色，擔任下一代 ServiceNow 領導者的導師。他將直接與我合作，擴大我們在全球公共部門的足跡。

Paul Smith will become Chief Commercial Officer, assuming our global sales responsibility. As ServiceNow's President of Europe, Middle East and Africa, Paul has established himself as a leader of consequence who can broaden the geographic reach of ServiceNow. All regions in the company have outstanding leadership in place, and I'm very, very proud of the work they are doing indeed.

Paul Smith 將成為首席商務官，承擔我們的全球銷售責任。作為 ServiceNow 的歐洲、中東和非洲總裁，Paul 已將自己確立為能夠擴大 ServiceNow 地理範圍的重要領導者。公司所有地區都有出色的領導，我為他們所做的工作感到非常非常自豪。

We're also recruiting outstanding new leaders to the company. Karen Pavlin has joined ServiceNow to become Chief Diversity, Equity and Inclusion Officer. Karen joins from our great partner, Accenture, where she led this function. She will help us embed diverse strategies directly into our business strategy because inclusive companies outperform all the others.

我們還在為公司招聘優秀的新領導人。 Karen Pavlin 已加入 ServiceNow，成為首席多元化、公平和包容官。凱倫從我們偉大的合作夥伴埃森哲加入，在那裡她領導了這一職能。她將幫助我們將多樣化的戰略直接嵌入到我們的業務戰略中，因為包容性公司的表現優於所有其他公司。

While our leadership team continues to strengthen, our inspired global workforce remains ever loyal. Look at our retention rate. ServiceNow is not only recruiting great talent. We keep it. In the engineering function as an example, we see much lower attrition rates than any of our peer group benchmarks. While no company is immune from the war on talent, our unique culture puts us in a highly differentiated position. Our high rankings from Glassdoor show that our people are invested in ServiceNow's bright future.

在我們的領導團隊不斷壯大的同時，我們鼓舞人心的全球員工隊伍始終保持忠誠。看看我們的保留率。 ServiceNow 不僅在招募優秀人才。我們保留它。以工程功能為例，我們發現流失率遠低於我們的任何同行組基準。雖然沒有一家公司能倖免於人才爭奪戰，但我們獨特的文化使我們處於高度差異化的地位。我們從 Glassdoor 獲得的高排名表明，我們的員工為 ServiceNow 的光明未來投資。

We see growth everywhere for ServiceNow. Our customers now view us as the standard platform for digital transformation. Our engineers continue to strengthen this highly innovative, scalable platform architecture.

我們看到 ServiceNow 到處都有增長。我們的客戶現在將我們視為數字化轉型的標準平台。我們的工程師繼續加強這種高度創新、可擴展的平台架構。

Our customer success teams have navigated the COVID challenges without missing a beat. Our partner ecosystem continues to build ServiceNow practices with even bigger commitments for long-term growth. The market forces are moving even more intensely in our direction.

我們的客戶成功團隊在應對 COVID 挑戰的過程中不遺餘力。我們的合作夥伴生態系統繼續構建 ServiceNow 實踐，並為長期增長做出更大承諾。市場力量正朝著我們的方向更加強烈地移動。

For the future of work, businesses need to integrate disparate systems. Leaders are more invested in ESG than ever. There are 2 common threads here. First, ServiceNow's platform is purpose-built for each opportunity. Our new integrated ESG-in-a-box offering is a perfect example. Second, every company wants to become an exponential business. They cannot do that with linear processes. Of the 20 most valuable companies 30 years ago, 0 are in the top 20 today. The question is then which companies will be on that list 10 years from now. To be in that conversation, leaders need outcomes really fast. ServiceNow gives them the speed advantage they're looking for. We're empowering digital-first leaders to accelerate their vision.

對於未來的工作，企業需要集成不同的系統。領導者對 ESG 的投入比以往任何時候都多。這裡有 2 個常見的線程。首先，ServiceNow 的平台專為每個機會而構建。我們新的集成 ESG 一體式產品就是一個完美的例子。其次，每家公司都想成為指數級企業。他們不能用線性過程做到這一點。在 30 年前最有價值的 20 家公司中，今天有 0 家進入前 20 名。那麼問題來了，10 年後哪些公司會出現在這份名單上。要參與這種對話，領導者需要非常快速地取得成果。 ServiceNow 為他們提供了他們正在尋找的速度優勢。我們正在授權數字優先的領導者加速他們的願景。

Our purpose is to make the world work better for everyone. Our ambition is to be the defining enterprise software company of the 21st century. ServiceNow's 2021 results and strong 2022 guidance signal our unshakable confidence in that goal. Our performance should leave no doubt. We are executing on all cylinders, and we will continue to do so. The world is looking for market leaders to build a new inclusive, sustainable wave of economic value, and ServiceNow is delivering. This is why we embrace the brand, the motto and the maxim. The world works with ServiceNow.

我們的目標是讓世界對每個人都更好。我們的目標是成為 21 世紀具有決定性意義的企業軟件公司。 ServiceNow 的 2021 年業績和強勁的 2022 年指導表明我們對該目標的堅定信心。我們的表現應該毫無疑問。我們正在所有氣缸上執行，我們將繼續這樣做。世界正在尋找市場領導者來建立新的包容性、可持續的經濟價值浪潮，而 ServiceNow 正在提供。這就是我們擁抱品牌、座右銘和格言的原因。世界與 ServiceNow 合作。

Thank you for your time. I look forward to your questions. Now over to our great CFO, Gina Mastantuono. Gina, over to you.

感謝您的時間。我期待著你的問題。現在交給我們偉大的首席財務官 Gina Mastantuono。吉娜，交給你了。

Thank you, Bill, and Happy New Year to everyone listening in. Q4 was a fantastic quarter, capping an already phenomenal 2021. Despite increased FX headwind, ServiceNow outperformed across all of our top line guidance metrics in Q4.

謝謝你，比爾，祝大家新年快樂。第四季度是一個很棒的季度，為已經非凡的 2021 年畫上了句號。儘管外匯逆風增加，但 ServiceNow 在第四季度的所有頂級指導指標上都表現出色。

Our performance over the past couple of years not only exemplifies our unwavering focus on delivering customer success but is a testament to the innovation and flexibility the Now Platform provides to our customers. Whatever the macro challenges were, ServiceNow adapted to deliver value.

我們在過去幾年的表現不僅體現了我們堅定不移地致力於幫助客戶取得成功，而且證明了 Now 平台為我們的客戶提供的創新和靈活性。無論宏觀挑戰是什麼，ServiceNow 都能適應提供價值。

ServiceNow's ability to quickly respond to the needs of enterprises when and where they require us most is why we've become the trusted digital platform to drive transformation. It's why our renewal rates are best in class, creating a solid foundation from which we grow upon each year. It's why in 2021, we added more incremental subscription revenues than we reported in 2016.

ServiceNow 能夠在企業最需要我們的時間和地點快速響應他們的需求，這就是我們成為推動轉型的值得信賴的數字平台的原因。這就是為什麼我們的續訂率是同類中最好的，為我們每年的成長奠定了堅實的基礎。這就是為什麼我們在 2021 年增加的訂閱收入比我們在 2016 年報告的要多。

I want to pause there for that to sink in. In 2021, we added a whole other 2016 ServiceNow to the top line, incredible organic growth at scale while generating over 30% free cash flow margin.

我想暫停一下，讓它深入人心。2021 年，我們在營收中增加了另外一個 2016 年的 ServiceNow，實現了令人難以置信的規模有機增長，同時產生了超過 30% 的自由現金流利潤率。

Now turning to our Q4 results. Subscription revenues were $1.523 billion, growing 30% year-over-year in constant currency. We exceeded the high end of our guidance range by $3 million when adjusting for the incremental $15 million FX headwind we saw in the quarter we beat by $18 million. RPO ended the quarter at approximately $11.5 billion, representing 32% year-over-year constant currency growth. Current RPO was approximately $5.7 billion, representing 32% year-over-year constant currency growth and a nearly 4 point beat versus our FX-adjusted guidance.

現在轉向我們的第四季度業績。訂閱收入為 15.23 億美元，按固定匯率計算同比增長 30%。在調整我們在本季度看到的 1500 萬美元的外匯逆風增加 1800 萬美元時，我們超出了指導範圍的高端 300 萬美元。本季度末 RPO 約為 115 億美元，同比增長 32%。當前的 RPO 約為 57 億美元，同比增長 32%，比我們的外匯調整指引高出近 4 個百分點。

Q4 subscription billings were $2.420 billion, a $110 million beat versus the high end of our guidance. This represents 32% year-over-year growth on a reported basis and 33% year-over-year growth on an adjusted basis as FX and duration were a headwind of 100 basis points.

第四季度訂閱費用為 24.20 億美元，比我們指導的高端高出 1.1 億美元。這意味著在報告的基礎上同比增長 32%，在調整後的基礎上同比增長 33%，因為外彙和久期是 100 個基點的逆風。

From an industry perspective, energy and utilities more than doubled its net new ACV contribution from the year-ago period. Business services and health care and life sciences also had a robust Q4 with very high double-digit net new ACV growth. Our renewal rate was a best-in-class 99%, continuing to demonstrate the stickiness of our business as the Now Platform remains a mission-critical part of our customers' operations. These enterprises not only remain loyal ServiceNow customers, but our customer cohorts have continued to show solid expansion over time. As of the end of Q4, we had over 1,350 customers paying us over $1 million in ACV.

從行業的角度來看，能源和公用事業的淨新 ACV 貢獻比去年同期增加了一倍以上。商業服務、醫療保健和生命科學也有強勁的第四季度，新的 ACV 淨增長非常高。我們的續訂率達到了同類最佳的 99%，繼續展示我們業務的粘性，因為 Now 平台仍然是我們客戶運營的關鍵任務部分。這些企業不僅是 ServiceNow 的忠實客戶，而且隨著時間的推移，我們的客戶群繼續呈現出穩健的擴張態勢。截至第四季度末，我們有超過 1,350 名客戶向我們支付了超過 100 萬美元的 ACV。

Our strategy of targeting the right enterprise customers that drive the best ROI and can grow with us over time is bearing fruit. In Q4, we closed 135 deals greater than $1 million in net new ACV in the quarter, up over 50% year-over-year. In addition, our better together story is resonating as 18 of our top 20 deals included 5 or more products.

我們瞄準合適的企業客戶的戰略正在取得成果，這些客戶可以帶來最佳的投資回報率並且可以隨著時間的推移與我們一起成長。在第四季度，我們完成了 135 筆淨新 ACV 超過 100 萬美元的交易，同比增長超過 50%。此外，我們更好的合作故事引起了共鳴，因為我們的前 20 項交易中有 18 項包括 5 種或更多產品。

Turning to profitability. Operating margin was 23%, 1 point above our guidance, primarily driven by the strong revenue beat. Our free cash flow margin in the quarter was 46%. For full year 2021, operating margin was 25% and free cash flow margin was 32%, representing $1.9 billion of free cash flow.

轉向盈利能力。營業利潤率為 23%，比我們的預期高 1 個百分點，主要是由於強勁的收入增長。我們本季度的自由現金流利潤率為 46%。 2021 年全年，營業利潤率為 25%，自由現金流利潤率為 32%，代表 19 億美元的自由現金流。

We ended the year with a healthy balance sheet, including $4.9 billion in cash and investments, putting us in excellent shape to continue investing in strategic initiatives to drive organic growth. Together, these results show the power of our business model and our ability to drive a balance of growth and profitability.

我們以健康的資產負債表結束了這一年，其中包括 49 億美元的現金和投資，使我們處於良好的狀態，可以繼續投資於推動有機增長的戰略舉措。這些結果共同顯示了我們商業模式的力量以及我們推動增長和盈利能力平衡的能力。

What's more? We're achieving all of this with a focus on ESG and winning the right way. Last quarter, I announced our commitment to reaching our net zero emissions goal by 2030, 2 decades earlier than our previous goal. This quarter, you heard Bill introduce Karen Pavlin, who will lead our efforts to strengthen our culture, ensuring equity and creating an even deeper sense of belonging. Diversity, equity, inclusion are business imperatives for ServiceNow; and in 2021, we outperformed all 6 of our representation and hiring goals across 3 categories: Black, Hispanic and Latinx and women in leadership. At its core, ServiceNow's culture is one of belonging. It is core to who we are, and it will be one of the keys to our company's growth for many years to come.

更重要的是？我們以 ESG 為重點並以正確的方式取勝，從而實現了這一切。上個季度，我宣布了我們到 2030 年實現淨零排放目標的承諾，比我們之前的目標提前了 20 年。本季度，您聽到比爾介紹了 Karen Pavlin，他將領導我們努力加強我們的文化、確保公平並創造更深層次的歸屬感。多樣性、公平性、包容性是 ServiceNow 的業務要務；到 2021 年，我們在 3 個類別的代表和招聘目標中均超過了所有 6 個目標：黑人、西班牙裔和拉丁裔以及女性領導層。從本質上講，ServiceNow 的文化是一種歸屬感。它是我們的核心，也是我們公司未來多年發展的關鍵之一。

Moving on to guidance. Since the end of Q3, we've seen an incremental strengthening of the U.S. dollar, resulting in a material FX headwind in 2022. To help provide investors better visibility into the underlying strength of the business, I'll be providing constant currency guidance. I would also note that, in January, we completed an assessment of the useful life of our data center equipment and determined that we could extend their estimated life from 3 to 4 years. As a result, we expect a reduction in depreciation expense, which will contribute approximately 100 basis points to gross margin in 2022, trending down to just 50 basis points in 2024.

繼續指導。自第三季度末以來，我們看到美元逐步走強，導致 2022 年出現重大的外匯逆風。為了幫助投資者更好地了解業務的潛在實力，我將提供持續的貨幣指導。我還要指出，在 1 月份，我們完成了對數據中心設備使用壽命的評估，並確定我們可以將其估計使用壽命從 3 年延長至 4 年。因此，我們預計折舊費用將減少，這將在 2022 年為毛利率貢獻約 100 個基點，到 2024 年將下降至僅 50 個基點。

With that in mind, I'll turn to our 2022 outlook. Last year was a strong year, and I'm excited to announce that our momentum will carry into 2022 as we do not expect any change in constant currency growth year-over-year. We expect subscription revenues between $7.02 billion and $7.04 billion, representing 26% year-over-year growth. That's 28% on a constant currency basis, the same growth as 2021.

考慮到這一點，我將轉向我們的 2022 年展望。去年是強勁的一年，我很高興地宣布，我們的勢頭將持續到 2022 年，因為我們預計不變的貨幣增長同比不會有任何變化。我們預計訂閱收入在 70.2 億美元至 70.4 億美元之間，同比增長 26%。按固定匯率計算，這是 28%，與 2021 年相同。

It's an amazing achievement when you think about the fact that the base we are growing off of is $1.3 billion higher when we started just last year. We expect subscription gross margin of 86%, up 100 basis points year-over-year. We expect an operating margin of 25%.

當您考慮到我們去年剛開始時，我們的基礎增長了 13 億美元，這是一個了不起的成就。我們預計訂閱毛利率為 86%，同比增長 100 個基點。我們預計營業利潤率為 25%。

With regard to operating expenses, we have reopened many offices and are planning in-person conferences and user events this year. Our sales force has also already begun to travel again. As such, we expect certain COVID-related savings we've seen over the past 2 years to fade in 2022.

在運營費用方面，我們已經重新開放了許多辦公室，併計劃在今年舉辦面對面的會議和用戶活動。我們的銷售人員也已經開始再次出差。因此，我們預計我們在過去 2 年中看到的某些與 COVID 相關的節省將在 2022 年消失。

We expect free cash flow margins of 31%, and we expect diluted weighted average outstanding shares of 204 million.

我們預計自由現金流利潤率為 31%，我們預計稀釋加權平均流通股為 2.04 億股。

For Q1, I'm pleased to announce that we expect subscription revenue growth to accelerate year-over-year on a constant currency basis. We expect subscription revenues between $1.61 billion and $1.615 billion, representing 25% year-over-year growth or 27.5% constant currency growth. We expect cRPO growth of 28% year-over-year or 29.5% on constant currency basis. We expect an operating margin of 25%, and we expect 203 million diluted weighted outstanding shares for the quarter.

對於第一季度，我很高興地宣布，我們預計訂閱收入增長將在固定貨幣基礎上同比加速。我們預計訂閱收入在 16.1 億美元至 16.15 億美元之間，同比增長 25% 或固定匯率增長 27.5%。我們預計 cRPO 同比增長 28%，或按固定匯率計算增長 29.5%。我們預計營業利潤率為 25%，我們預計本季度將有 2.03 億股稀釋加權流通股。

In summary, we had a very strong Q4, and I'm so proud of what our team has accomplished over the past year and what they continue to achieve. The pace of digital investment is accelerating. Demand in 2022 continues to be strong. Enterprises are turning to ServiceNow to create new business models to address the new ways employees and customers want to engage. The Now Platform offers the speed, flexibility and innovation companies need. We're well on our way to $15 billion and beyond and becoming the defining enterprise software company of the 21st century.

總之，我們有一個非常強勁的第四季度，我為我們的團隊在過去一年所取得的成就以及他們繼續取得的成就感到非常自豪。數字化投資步伐正在加快。 2022 年的需求繼續強勁。企業正在轉向 ServiceNow 來創建新的商業模式，以解決員工和客戶想要參與的新方式。 Now 平台提供公司所需的速度、靈活性和創新性。我們正朝著 150 億美元甚至更高的目標邁進，並成為 21 世紀具有決定性意義的企業軟件公司。

Before moving on to Q&A, Bill and I want to thank our employees around the world for a tremendous year. You are the key to ServiceNow's success, and you all continue to make us ServiceNow strong.

在繼續進行問答之前，比爾和我要感謝我們在世界各地的員工度過了美好的一年。你們是 ServiceNow 成功的關鍵，你們都繼續讓我們 ServiceNow 變得強大。

And with that, I'll open it up for Q&A.

有了這個，我將打開它進行問答。

(Operator Instructions) Your first question comes from the line of Phil Winslow with Credit Suisse.

（操作員說明）您的第一個問題來自瑞士信貸的 Phil Winslow。

Congratulations on a strong end to a really strong full year. Investors have been concerned this year about a potential pull forward in demand really setting the stage for decelerating growth across software. Now looking at your results tonight and the guidance, I really can't find any signs of decelerating demand for ServiceNow. In fact, sales and marketing headcount in Q4 grew at its fastest rate since Q1 2020, which suggests you're continuing to lean in here.

祝賀一個非常強勁的全年。今年投資者一直擔心需求的潛在拉動確實為整個軟件的增長減速奠定了基礎。現在看看你今晚的結果和指導，我真的找不到任何對 ServiceNow 需求減速的跡象。事實上，第四季度的銷售和營銷人員人數以自 2020 年第一季度以來的最快速度增長，這表明您將繼續在此傾斜。

So 2 questions. First, Bill, my question to you is what are you hearing from customers that gives you confidence in the sustainability of growth and to accelerate this go-to-market hiring exiting the year. And Gina, what trends are you seeing in terms of ramping these new sales and marketing hires?

所以2個問題。首先，比爾，我要問你的問題是，你從客戶那裡聽到的哪些信息讓你對增長的可持續性充滿信心，並在今年結束時加速這種進入市場的招聘。吉娜，在增加這些新的銷售和營銷人員方面，你看到了什麼趨勢？

Thank you very much, Phil, for your kind remarks and also for your question. Customers are absolutely focused on technology being the business strategy. And digital transformation is in full flight, and we will capitalize on that greatly.

非常感謝你，菲爾，你的客氣話和你的問題。客戶絕對專注於將技術作為業務戰略。數字化轉型正在全面展開，我們將充分利用這一點。

The reality on our numbers is we did not see any evidence of unusual demand pull forward into our business for 2021. It happened in an extremely linear and coherent fashion, which was really a thing of beauty to watch from an execution perspective. And as I look at the pipelines, they're ever increasing, and they're doing that across the platform, the employee experience, the customer experience, the creator experience. And all of this now is really making ServiceNow one of those real standard platforms for well-run companies in the 21st century. And I think that includes a very short list of others. We're one of them. And Phil, the business just couldn't be going better.

從我們的數據來看，現實情況是，我們沒有看到任何跡象表明 2021 年我們的業務有任何異常需求。它以極其線性和連貫的方式發生，從執行的角度來看，這確實是一件美事。當我查看管道時，它們一直在增加，並且他們正在跨平台、員工體驗、客戶體驗和創作者體驗這樣做。現在所有這一切都使 ServiceNow 成為 21 世紀運營良好的公司的真正標準平台之一。我認為這包括一個非常簡短的其他人名單。我們是其中之一。菲爾，生意再好不過了。

And then, Phil, on your question with respect to ramped rep, you're absolutely right. We did not pause at all on our headcount growth in Q4. We're entering 2022 with more ramped sales reps than we entered 2021, and we feel really good about pipeline and the demand that we see in front of us. So we are absolutely not stopping our investment in go-to-market resources. We are planning for a very strong 2022.

然後，菲爾，關於你關於增加代表的問題，你是絕對正確的。我們在第四季度的員工人數增長上完全沒有停頓。進入 2022 年，我們的銷售代表人數比進入 2021 年時更多，我們對管道和擺在我們面前的需求感覺非常好。因此，我們絕對不會停止對上市資源的投資。我們正在計劃一個非常強勁的 2022 年。

Your next question comes from the line of Raimo Lenschow with Barclays.

您的下一個問題來自巴克萊銀行的 Raimo Lenschow。

Congrats from me as well. Well done. The -- can we talk a little bit about the revenue or you're achieving with one of your biggest clients? You have like a record number now of people over $1 million in ACV, but the ACV number is also going up. Like, Bill, can you talk a little bit about how you see this trending going forward with all the different products that you have but also the product expansion that you're seeing there? How do you think this will evolve over time?

我也祝賀你。做得好。 - 我們可以談談收入或您與您最大的客戶之一取得的成就嗎？現在，ACV 中超過 100 萬美元的人數創下了記錄，但 ACV 的數量也在上升。就像，比爾，你能談談你如何看待這種趨勢，包括你擁有的所有不同產品以及你在那裡看到的產品擴展嗎？您認為隨著時間的推移，這將如何演變？

Raimo, excellent question. This is really a beautiful point in the scale phase that ServiceNow is in. And you might notice the substantial promotion for CJ in addition to taking on his normal great results for development and engineering. He's now moving into the industry phase where we're going to connect the code to the actual industry-specific solutions the specialist professionals that guide our general line sales force and our customer relationships each and every day. And that's going to give us a real special bilateral communication with our customers to innovate at an even faster clip than we have in the past, if that's possible.

雷莫，很好的問題。這確實是 ServiceNow 在規模化階段的一個美好點。您可能會注意到 CJ 除了在開發和工程方面取得正常的巨大成果外，還獲得了實質性的提升。他現在正在進入行業階段，我們將把代碼與實際的行業特定解決方案聯繫起來，這些專業人士每天都在指導我們的一般銷售隊伍和客戶關係。如果可能的話，這將使我們與客戶進行真正特殊的雙邊交流，以比過去更快的速度進行創新。

And you see what happens in telecommunications, in financial services. You see what happens in government, health care, life sciences. All the businesses that we've chosen to focus on from an industry perspective are really scaling and doing so very, very quickly.

你會看到電信、金融服務領域發生了什麼。你會看到政府、醫療保健、生命科學領域發生了什麼。從行業的角度來看，我們選擇關注的所有業務都在真正擴大規模，而且做得非常非常快。

And here's where the big deals have only just begun. If you look at businesses today, and there's one retailer in particular that I referenced in the call like CVS, which is a great company. They have retail customers, but they're also transforming into a health and wellness company. And they understand the experience that they have to give their customers is evolving into a multi-workflow environment.

而這裡的大交易才剛剛開始。如果你看看今天的企業，我在電話中特別提到了一家零售商，比如 CVS，這是一家很棒的公司。他們有零售客戶，但他們也在轉變為一家健康和保健公司。他們了解他們必須為客戶提供的體驗正在演變為多工作流環境。

So on one hand, I have to keep my associates super happy because they have complex enough jobs. I have to keep my customers happy because, in some cases, they want to come to the store. In other cases, they want the store to come to them. I'm transforming my business model between all of these factors, and now I'm going for health and wellness. And someday, I'll not only do that in store, but I can do that at the home. So you're seeing multi-complex workflows possible on the Now Platform coming together to form greater-sized solutions that have major business impact for our customers and the value we can create with digital transformation.

所以一方面，我必須讓我的同事超級開心，因為他們有足夠複雜的工作。我必須讓我的顧客滿意，因為在某些情況下，他們想來商店。在其他情況下，他們希望商店來找他們。我正在所有這些因素之間轉變我的商業模式，現在我要追求健康。總有一天，我不僅會在商店裡這樣做，而且我可以在家裡這樣做。因此，您會看到 Now 平台上可能出現的多複雜工作流匯聚在一起，形成更大的解決方案，這些解決方案對我們的客戶產生重大的業務影響，以及我們可以通過數字化轉型創造的價值。

So the challenge I've got out to the company, Raimo, is the large deals will accelerate dramatically on a year-over-year basis. We are now prepared for that, and we have the best leaders in the positions in the company to deliver that, and we have an extremely inspired workforce and an extremely inspired ecosystem. So all that comes together. And as you know, I've seen the movie before. When it all comes together, it equals big growth.

因此，我向 Raimo 公司提出的挑戰是，大宗交易將逐年大幅加速。我們現在為此做好了準備，我們在公司的各個職位上擁有最優秀的領導者來實現這一目標，我們擁有一支極富靈感的員工隊伍和一個極富靈感的生態系統。因此，所有這些都融合在一起。如你所知，我以前看過這部電影。當這一切結合在一起時，它就等於巨大的增長。

Your next question comes from the line of Alex Zukin with Wolfe Research.

您的下一個問題來自 Wolfe Research 的 Alex Zukin。

Congrats on a great end to the year. Bill, maybe the first one for you. If you think about what you just said to Raimo's question about being in a great position to massively accelerate the amount of large deals, is it right to kind of think that industry clouds and the low-code platform vision, that's the big motion that you think will unlock the most value in some of these larger deals, even more -- maybe even more so than HR, CSM? Or what's the right way to think about like the growth drivers of these expansion opportunities over the course of the next year? And look, it doesn't escape all of us the valuation contraction we've seen in the public markets. Does it change or in any way influence your strategy or thought process around organic versus inorganic growth?

祝賀這一年的美好結束。比爾，也許是你的第一個。如果您考慮一下您剛才對 Raimo 的問題所說的話，即處於有利位置以大規模加速大宗交易的數量，那麼認為行業雲和低代碼平台願景是否正確，這就是您的重大舉措認為會在其中一些較大的交易中釋放最大價值，甚至更多——甚至可能比人力資源、CSM 更多？或者，在明年的過程中，這些擴張機會的增長動力是什麼？看，它並沒有逃脫我們在公開市場上看到的估值收縮。它是否會改變或以任何方式影響您圍繞有機增長與無機增長的策略或思維過程？

Yes. Alex, that's a really significant set of issues, and I'll address them head on. First of all, every great company has a great core business because when you have a multibillion core business, that core business has to perform, so you get the leverage on all the adjacencies. Our core business is better than ever, and it's growing really strong. And in fact, I think it could be very close to the overall corporate growth rate as we look into the crystal ball.

是的。亞歷克斯，這是一組非常重要的問題，我將直接解決它們。首先，每家偉大的公司都有偉大的核心業務，因為當你擁有數十億的核心業務時，核心業務必鬚髮揮作用，這樣你就可以利用所有相鄰的業務。我們的核心業務比以往任何時候都好，而且增長非常強勁。事實上，當我們研究水晶球時，我認為它可能非常接近整體企業增長率。

Then you add on employee experience. You have to remember, this employee experience and the future of work and where people are going to be working and how they're going to be working, especially exacerbated by a talent war out there, is really a big deal. And CEOs need to retain the people they have now. They better be recruiting and onboarding in a flawless manner because the employees today expect consumer-grade user experiences in the enterprise. And if they don't get them, they either don't come on in the first place because they know what's going on in these companies, the Internet tells them that or when they get there, they don't stay very long because they're not happy. So the employee experience is front and center.

然後你添加員工體驗。您必須記住，這種員工體驗和工作的未來以及人們將在哪里工作以及他們將如何工作，尤其是因人才大戰而加劇的情況，確實是一件大事。 CEO 需要留住他們現在擁有的人。他們最好以完美的方式進行招聘和入職，因為今天的員工期望企業中的消費者級用戶體驗。如果他們沒有得到他們，他們要么一開始就不會來，因為他們知道這些公司正在發生什麼，互聯網告訴他們，或者當他們到達那裡時，他們不會停留很長時間，因為他們'不開心。因此，員工體驗是最重要的。

And then on customer service management, the reality is this is just starting because the world has really acknowledged that the customer is not going to come to you the way they used to. You're going to have to go to them, and you're going to have to explain to that customer that your brand gets it and you can give them an experience. No matter where they're experiencing your brand, that has enormous consistency, service value, and yes, even helpful hands in terms of smart transactions through an AI platform like ServiceNow's.

然後在客戶服務管理方面，現實是這才剛剛開始，因為世界已經真正承認客戶不會像過去那樣來找你了。你必須去找他們，你必須向那個客戶解釋你的品牌得到了它，你可以給他們一種體驗。無論他們在哪裡體驗您的品牌，它都具有巨大的一致性、服務價值，而且是的，在通過 ServiceNow 等 AI 平台進行智能交易方面甚至可以提供幫助。

And then you take the creator workflow. Look, 500 million applications between now and the end of 2023 is more applications that have been built in the last 40 years. So there's no choice. It's going to be low code, no code, and the ServiceNow platform is beautifully positioned.

然後您採用創建者工作流程。看，從現在到 2023 年底，5 億個應用程序比過去 40 年構建的應用程序還要多。所以別無選擇。它將是低代碼，無代碼，ServiceNow 平台定位精美。

Now let me extend to your question on industry and low code. That is absolutely a very astute observation because if you take the low-code revolution and you combine it with industry, we're now solving business problems that have been out there for a long time. We featured the Celonis partnership where they could do the X-ray in the non-ServiceNow installed environments. We can activate all the changes that are necessary to augment the business process on the Now Action layer.

現在讓我擴展您關於行業和低代碼的問題。這絕對是一個非常敏銳的觀察，因為如果您將低代碼革命與行業結合起來，我們現在正在解決已經存在很長時間的業務問題。我們介紹了 Celonis 合作夥伴關係，他們可以在未安裝 ServiceNow 的環境中進行 X 光檢查。我們可以激活所有必要的更改，以在 Now Action 層上擴充業務流程。

And of course, here's the big thing. All those systems out there have been mass customized. But with ServiceNow, you can carry forward all your customizations with the creator workflow. You don't need a team of consultants in a truck coming over there for years and years projects and billions and billions. This is speed to market. This is low-cost rollout of big ideas and business model innovations and better service for the employee and the customer.

當然，這是最重要的。所有這些系統都是大規模定制的。但是使用 ServiceNow，您可以使用創建者工作流程繼續進行所有自定義。你不需要一個顧問團隊開著卡車來年復一年的項目和數十億的項目。這就是上市速度。這是大創意和商業模式創新的低成本推廣，並為員工和客戶提供更好的服務。

So it all comes together. And the reason I'm so excited about what we're doing with the executive team here is we're all lined up now to take everything we know how to do and scale it across the world in every geo, in every industry and every persona. And I have to thank my partners out there. I mean they're knocking down the door to get a bigger piece of the ServiceNow franchise. So it's all of those things coming together, Alex.

所以這一切都在一起。我對我們與這裡的執行團隊所做的事情感到如此興奮的原因是，我們現在都排好隊，採取我們知道如何做的一切，並在世界各地的每個地區、每個行業和每個角色。我必須感謝我的合作夥伴。我的意思是他們正在敲門以獲得更大的ServiceNow特許經營權。亞歷克斯，這就是所有這些事情的結合。

Now on M&A, I want to be really super clear about this. We have no targets on the Board for M&A. And the reason for that it is on an organic growth basis, you see the numbers as much as I see the numbers. The cloud economics are in full flight. And we have engineers that love this company, and they love coming to work every day, whether they're working out of their home or our office. We're all open. And they come in and they create new things. And they have an idea that they can take, and they have a dream that they can build. When I listen to other engineers in other software companies that want to come over here telling me they spend 90% of their time integrating the past as opposed to innovating the future, it just reminds me of how thoughtful we have to be on M&A.

現在關於併購，我想非常清楚這一點。我們在董事會沒有併購目標。其原因是有機增長，你看到的數字和我看到的數字一樣多。雲經濟正在全面發展。我們有熱愛這家公司的工程師，他們喜歡每天來上班，無論他們是在家裡還是在我們的辦公室工作。我們都是開放的。他們進來了，他們創造了新的東西。他們有一個可以接受的想法，他們有一個可以建立的夢想。當我聽到其他軟件公司的其他工程師想來這裡告訴我他們將 90% 的時間用於整合過去而不是創新未來時，這讓我想起了我們在併購方面必須有多麼深思熟慮。

So as Gina said, we have $5 billion in cash. That's going to continue to grow exponentially. You know that. We're fueling our organic growth ambitions. We can be opportunistic. But in this guide and this current state of affairs, there is no intent to do any large-scale M&A. And if that were to change, I would be the first to tell you.

正如吉娜所說，我們有 50 億美元的現金。這將繼續成倍增長。你懂的。我們正在推動我們的有機增長雄心。我們可以投機取巧。但在本指南和目前的情況下，並沒有進行任何大規模併購的意圖。如果情況發生變化，我會第一個告訴你。

Incredibly specific and we all love the candor and appreciate that color. I guess maybe just a quick follow-up. First of all, congratulations to CJ. What a wonderful expansion of his abilities and opportunities. I wanted to ask about the shift on the Chief Customer Officer. What plays -- Workday, as an example, is another company that's made a move to historically make the head of Europe the head of overall sales. I wanted to ask, what -- in terms of the motion that you're seeing successful in -- outside of the U.S. that can be applied to the rest of the organization, and particularly inside the U.S., what plays are successful that you think can be run or expanded that will work?

令人難以置信的具體，我們都喜歡坦率並欣賞這種顏色。我想也許只是一個快速的跟進。首先祝賀CJ。他的能力和機會的擴展是多麼美妙啊。我想問一下首席客戶官的轉變。發揮作用——例如，Workday 是另一家在歷史上將歐洲負責人作為整體銷售負責人的公司。我想問一下，就你所看到的成功的動議而言，在美國以外可以應用於組織的其他部門，特別是在美國內部，你認為哪些行動是成功的可以運行或擴展，這將工作？

Well, first of all, I want to tip my cap to our regional presidents because they know I love them, and I love all of them. We have great leadership with Mitch in APJ, great leadership with Mike in the Americas and now [Ulrich] coming on in EMEA. I know them all personally. I admire them deeply, and I really appreciate what they're doing for ServiceNow. And they're all playing critical roles in our future.

好吧，首先，我想向我們的地區總裁小費，因為他們知道我愛他們，我愛他們所有人。我們在 APJ 與 Mitch 有出色的領導力，在美洲與 Mike 有出色的領導力，現在 [Ulrich] 在 EMEA 上任。我個人認識他們。我非常欽佩他們，我非常感謝他們為 ServiceNow 所做的一切。他們都在我們的未來扮演著重要的角色。

Mike, as an example, has done an extraordinary job here for a very, very long period of time, and 65% of the number resides in his [past]. So he knows what we think of him. And I've always told our leaders that this is a significant company, and each piece of this puzzle needs to be managed with incredible care. And these are the leaders that will do that.

舉個例子，邁克在這裡做了非常非常長的一段時間的非凡工作，其中 65% 的數字都存在於他的[過去]中。所以他知道我們對他的看法。我一直告訴我們的領導，這是一家重要的公司，需要非常小心地管理這個難題的每一部分。這些是將這樣做的領導者。

Now Paul Smith brings a very unique style and know-how, especially around the expansion of the C-level relationships where he has proven himself in an exemplar fashion for the 18 months that he has been here. And as you know, we had a great track record before we got here. And he understands all the concepts that I put out on this call today because he's been through them, and we're activating them together, and we know exactly what we are doing.

現在，保羅·史密斯帶來了一種非常獨特的風格和專業知識，尤其是在 C 級關係的擴展方面，他在這裡的 18 個月里以一種模範的方式證明了自己。如您所知，在我們來到這里之前，我們有很好的記錄。他理解我今天在電話會議上提出的所有概念，因為他經歷過這些概念，我們一起激活它們，我們確切地知道我們在做什麼。

And the other thing is with CJ and the closeness that CJ and Kevin have had all these years, that continues. Kev's still with me. And CJ is right with me. And Paul is right with me. So we're all putting this together, and we're going to activate it in every region, in every industry and across every persona.

另一件事是與 CJ 以及 CJ 和凱文這些年來的親密關係，這種情況仍在繼續。凱夫還在我身邊。 CJ 和我是對的。保羅和我是對的。所以我們都把它放在一起，我們將在每個地區、每個行業和每個角色中激活它。

And what I'm so inspired by is these executives. I respect them with my whole heart, and they're doing a fabulous job, and they want ServiceNow to be the defining enterprise software company in the 21st century. And they all want it as badly as I do, which is why I know it's going to happen.

讓我深受啟發的是這些高管。我全心全意地尊重他們，他們做得非常出色，他們希望 ServiceNow 成為 21 世紀的企業軟件公司。他們都和我一樣渴望它，這就是為什麼我知道它會發生。

Your next question comes from the line of Kash Rangan with Goldman Sachs.

您的下一個問題來自高盛的 Kash Rangan。

What an incredible finish to '21. You have more than $5 billion in revenue, and you have close to $11-plus billion in RPO that you are hardly within sight of your long-term goal, Bill and team. So kudos on that wonderful milestone.

21 年的結束真是令人難以置信。您的收入超過 50 億美元，RPO 接近 11 多億美元，但您幾乎無法實現長期目標、比爾和團隊。所以對這個美妙的里程碑表示讚賞。

Bill, my question for you is, certainly, your vision of the platform revolution taking over from the database, relational database, middleware, that whole stack, old revolution is a very compelling one because you can bring value to customers, pricing problems immediately, right? So that's been the long-term thesis of ServiceNow.

比爾，我要問你的問題當然是，你對平台革命從數據庫、關係數據庫、中間件、整個堆棧中接管的願景是一場非常引人注目的革命，因為你可以為客戶帶來價值，立即解決定價問題，正確的？這就是 ServiceNow 的長期主題。

Now a little bit more tactically, as you head into '22, we've got no need to reiterate but very briefly, inflation pressures, labor shortage, supply chain shortage and a need to boost productivity despite all these constraints. How do you see the Now Platform being equipped to handle these challenges, these tactical challenges in the near term for corporations with your execution?

現在從戰術上講一點，當您進入 22 世紀時，我們無需重申，但非常簡單地說，通脹壓力、勞動力短缺、供應鏈短缺以及儘管存在所有這些限制，但仍需要提高生產力。您如何看待 Now 平台能夠應對這些挑戰，以及在短期內為您執行的公司帶來的這些戰術挑戰？

Well, I really appreciate the question. Thank you so much for your kind remarks. I really do, Kash. Thanks a lot. ServiceNow has a unique ability to drive more efficiency and automate these processes and is absolutely a deflationary tool that helps alleviate the need for more hiring. Many companies think the only way to solve a problem is throw more bodies at it. While we have no quarrel with increasing jobs, if there's a limited pool of digital assets, that's a problem. And that's why you need ServiceNow. So driving the productivity and efficiency out of the resources enterprises already have, helping them reduce the need for additional spend is our lead play in the playbook for the scenarios you laid out there.

好吧，我真的很感激這個問題。非常感謝您的客氣話。我真的願意，卡什。非常感謝。 ServiceNow 具有提高效率和自動化這些流程的獨特能力，絕對是一種有助於緩解更多招聘需求的通貨緊縮工具。許多公司認為解決問題的唯一方法是投入更多的精力。雖然我們對增加工作沒有異議，但如果數字資產池有限，那就是個問題。這就是您需要 ServiceNow 的原因。因此，從企業已有的資源中提高生產力和效率，幫助他們減少額外支出的需求，是我們在您制定的場景的劇本中的主導作用。

And one simple example, take virtual agents deflecting and automating tickets so that the IT help desk personnel can spend their time tackling more strategic issues, giving them more satisfaction with their job and creating a happier work environment. And this also reduces the need to hire more people in the first place. But then really smart CEOs are literally struggling every day now how I keep my people. And the only way to keep them is to give them a great experience. And they're going to feel you right out of the gates. If you recruited them and you can't onboard them properly, they're going to feel you if you can't train them and activate a customized training curriculum that's targeted specifically to their unique skills and attributes. And they're going to feel you real quick if they can't go to one portal to activate all of their services on their mobile device. So no matter where they are, their company's brand, their company's culture is talking to them.

舉一個簡單的例子，讓虛擬代理偏轉和自動處理工單，這樣 IT 服務台人員就可以將時間花在處理更多戰略問題上，讓他們對工作更加滿意，並創造一個更快樂的工作環境。這也減少了首先僱用更多人的需要。但是，真正聰明的 CEO 現在每天都在為如何留住員工而苦苦掙扎。而留住他們的唯一方法就是給他們一個很好的體驗。他們會感覺到你走出大門。如果你招募了他們，但你不能正確地讓他們入職，如果你不能訓練他們並激活專門針對他們獨特技能和屬性的定制培訓課程，他們就會感覺到你。如果他們不能去一個門戶網站來激活他們移動設備上的所有服務，他們會覺得你真的很快。因此，無論他們身在何處，他們的公司品牌、公司文化都在與他們交談。

And then you do need to manage these cases with people. My goodness, legal could be involved. Finance could be involved. HR could be involved. COOs and CEOs could be involved. And most companies have literally thousands of cases that are in flight at any one time. Only ServiceNow, only ServiceNow can manage the multidisciplinary workflows that go across an organization in many different circular forms to close out a case properly. That's what we do, Kash.

然後你確實需要與人一起管理這些案件。我的天哪，法律可能涉及。可能涉及財務。人力資源部門可能會參與。首席運營官和首席執行官可能會參與其中。大多數公司在任何時候都有成千上萬的案件在進行中。只有 ServiceNow，只有 ServiceNow 可以管理以許多不同的循環形式跨越組織的多學科工作流，以正確關閉案例。這就是我們所做的，卡什。

So I lean into the inflation conversation, the labor conversation. We're more and more activated now and straightening out supply chain dilemmas. We have one manufacturer in the auto industry that has us as the control tower for their entire supply chain now. A few years ago, nobody would even know that. We are solving ERP cases left, right and center with ServiceNow as the action platform.

所以我傾向於通脹對話，勞工對話。我們現在越來越活躍，正在解決供應鏈困境。我們現在有一家汽車行業的製造商將我們作為其整個供應鏈的控制塔。幾年前，甚至沒有人知道這一點。我們以 ServiceNow 為行動平台，解決左右和中心的 ERP 案例。

So I think the idea of this productivity, and I mentioned it in my discussion earlier, really manifests itself in our new Impact product. We took a service, productized it in software where we can look at the entire value chain, on the Now Platform, the entire value chain from the presale to the sale and the post sale, all the activities that have taken place in the deployment in relation to the value that's being delivered in real time with hard dollars and cents and an absolute measurement that the customer can look at on their iPhone, that the partner participates in the conversation -- incidentally, we're not using any other technology with the Now Platform -- and that ServiceNow can use.

所以我認為這種生產力的想法，我在之前的討論中提到過，真正體現在我們新的 Impact 產品中。我們採用了一項服務，在軟件中將其產品化，我們可以在 Now 平台上查看整個價值鏈，從預售到銷售和售後的整個價值鏈，以及在部署過程中發生的所有活動與通過硬美元和美分實時交付的價值以及客戶可以在他們的 iPhone 上看到的絕對測量值、合作夥伴參與對話的關係——順便說一句，我們沒有使用任何其他技術Now Platform——ServiceNow 可以使用的平台。

So now just think about the gorgeousness of that conversation where, as we deploy, we can show the business outcome. And the partner and ServiceNow and the customer are all on the same sheet of music on the Now Platform with ServiceNow Impact.

所以現在想想那次對話的精彩之處，在我們部署時，我們可以展示業務成果。合作夥伴、ServiceNow 和客戶都在具有 ServiceNow Impact 的 Now 平台上的同一張樂譜上。

Kash, it's amazing. We have 17 customers in the pilot join up on the Impact platform before we even launched it. We're now GA on it, and we're launching it with all of our employees globally tomorrow in every geography. This is going to create a renaissance of value delivery in the enterprise, the likes of which has never been seen before.

卡什，太神奇了。在我們推出 Impact 平台之前，我們有 17 位試點客戶加入了 Impact 平台。我們現在是 GA，明天我們將在全球各個地區與我們的所有員工一起推出它。這將在企業中創造價值交付的複興，這是前所未有的。

Your next question comes from the line of Keith Weiss with Morgan Stanley.

您的下一個問題來自摩根士丹利的 Keith Weiss。

Excellent. Let me echo the congratulations on a great quarter and a great year. I want to follow through on Kash's interesting question and kind of turn it inward to ServiceNow. And so Bill, from your perspective, do you see any constraints in terms of your partners finding the people or your customers finding the people to be able to deploy ServiceNow? We're hearing about that in some of our checks and some of the systems integrated. It's just such a tight labor market. Are the people there to sort of deploy the solution? Or could that become something of a friction to just getting ServiceNow up and running?

優秀。讓我對一個偉大的季度和偉大的一年表示祝賀。我想繼續 Kash 的有趣問題，並將其轉向 ServiceNow。因此，比爾，從您的角度來看，您是否認為在您的合作夥伴尋找人員或您的客戶尋找能夠部署 ServiceNow 的人員方面存在任何限制？我們在一些檢查和一些集成系統中聽到了這一點。這只是一個如此緊張的勞動力市場。那裡的人可以部署解決方案嗎？或者這是否會成為讓 ServiceNow 啟動和運行的摩擦？

And to Gina, are you seeing any incremental or increased wage inflation in terms of sort of -- you guys are hiring very aggressively, and I think headcount is up 29% year-on-year. So you're definitely finding the people. Is there any increase in wage inflation or anything extraordinary on that side of the equation given that tight labor market that might impact margins on a go-forward basis?

對於吉娜，你是否看到任何增加或增加的工資通脹 - 你們正在非常積極地招聘，我認為員工人數同比增長了 29%。所以你肯定會找到人。考慮到勞動力市場緊縮可能會影響利潤率，工資通脹是否有任何增加或等式的那一側是否有任何異常情況？

Well, thank you very much for the question, Keith. As I mentioned earlier, we are one of these significant partners to the global SIs. So if you look at the top 5 technology partners for the top 10 SIs, we're 1 of them. So while they may have some difficulty hiring to meet demand, we are getting preferential resource allocation not only as a top 5 technology partner but also because our swelling pipeline and our growth is so amazing that they all want more of that real estate. And where they have less interesting growth scenarios with other partners, they're actually peeling off headcount in favor of the ServiceNow practice. This is happening all over the place.

好吧，非常感謝你的問題，基思。正如我之前提到的，我們是全球 SI 的重要合作夥伴之一。因此，如果您查看前 10 名 SI 的前 5 名技術合作夥伴，我們就是其中之一。因此，雖然他們可能在招聘以滿足需求方面遇到一些困難，但我們不僅作為前 5 名技術合作夥伴，而且因為我們不斷膨脹的管道和我們的增長如此驚人，他們都想要更多的房地產，因此我們獲得了優惠的資源分配。在他們與其他合作夥伴的增長方案不太有趣的地方，他們實際上正在剝離員工人數以支持 ServiceNow 實踐。這種情況到處都在發生。

In addition, one of the things we have done is we took matters into our own hands and built out academies. And we're doing more for university programs to meet the demand, the ServiceNow train talent. And I'd note that we've also been working with our partners to sponsor and engage with local diversity profit and nonprofits to target diverse populations for next-gen skill development, which will help alleviate such labor shortages in the future. We have to initiate people into the digital world that perhaps aren't initiated but is certainly more than capable.

此外，我們所做的其中一件事是我們將事情掌握在自己手中並建立了學院。我們正在為大學項目做更多的工作以滿足需求，ServiceNow 培訓人才。我還要指出，我們還一直在與我們的合作夥伴合作，贊助並與當地的多元化利潤和非營利組織合作，以針對不同人群進行下一代技能開發，這將有助於緩解未來的勞動力短缺問題。我們必須讓人們進入數字世界，這些人可能沒有被啟動，但肯定是有能力的。

And I always go back to the root cause of why ServiceNow is so special. When Fred Luddy created this company, he created a platform that was a sensation, and it was designed to give people productivity, a tool to enable them to do things with their lives and their jobs that they could have never done without it. And I think that level of simplicity and agility in the general construct of the platform makes it so much easier for people to learn and develop and grow on it. And now they see where we're going. They know it's a growth sensation. And you know how it is. Rising tide kind of lifts all boats, and everybody wants to get on this one.

我總是回到 ServiceNow 如此特別的根本原因。當 Fred Luddy 創建這家公司時，他創建了一個轟動一時的平台，它旨在為人們提供生產力，一個工具，使他們能夠用自己的生活和工作做一些沒有它就無法完成的事情。而且我認為平台總體結構的簡單性和敏捷性使人們更容易在平台上學習、開發和成長。現在他們看到了我們要去的地方。他們知道這是一種成長的感覺。你知道它是怎麼回事。漲潮會掀起所有的船，每個人都想上這艘。

And then, Keith, on your question with respect to labor inflation rates, enterprise software's talent has been in high demand for some time now. So competitive compensation has been on the rise, and it's not new for us. We continue to monitor it. We definitely anticipate some continued pressure in the coming quarters, but we remain very committed to our margin guidance that we've given you for 2022 and beyond.

然後，Keith，關於你關於勞動力通脹率的問題，企業軟件人才的需求量一直很高。因此，有競爭力的薪酬一直在上升，這對我們來說並不新鮮。我們繼續對其進行監控。我們肯定預計未來幾個季度會繼續承受壓力，但我們仍然非常致力於我們為您提供的 2022 年及以後的利潤率指導。

Your next question comes from the line of Michael Turits with KeyBanc.

您的下一個問題來自 Michael Turits 與 KeyBanc 的系列。

Congrats on the quarter. One for Bill and one for Gina. So Bill, I want to talk about a couple of submarkets that you have made acquisitions and specifically in RPA and observability and how you're thinking about those markets and your strategy, whether this will be really directed at existing larger ServiceNow implementations or how directly you're going to go into those types of deals. And then something for Gina.

祝賀本季度。一張給比爾，一張給吉娜。所以比爾，我想談談你已經收購的幾個子市場，特別是在 RPA 和可觀察性方面，以及你如何考慮這些市場和你的戰略，這是否真的針對現有的更大的 ServiceNow 實施或如何直接你將進入這些類型的交易。然後給吉娜一些東西。

Yes. Of course. Well, Michael, thank you very much. First of all, we are very excited about Ben, his leadership and the whole Lightstep team. As you know, they have been doing a great job winning amazing forward-thinking brands, and they have been doing a phenomenal job culturally integrating back into ServiceNow. So we are going to begin going to market with Lightstep, and that's going to be at mass scale, and that will be announced at the employee kickoff tomorrow. So that's exciting. And the work with Lightstep to not only serve the needs of IT but to observe things in a way that can be consumed across the value chain of decision-makers in an enterprise is pretty big.

是的。當然。好吧，邁克爾，非常感謝你。首先，我們對 Ben、他的領導能力和整個 Lightstep 團隊感到非常興奮。如您所知，他們在贏得令人驚嘆的具有前瞻性的品牌方面做得非常出色，並且他們在將文化融入 ServiceNow 方面做得非常出色。所以我們將開始與 Lightstep 一起進入市場，這將是大規模的，這將在明天的員工啟動會上宣布。所以這很令人興奮。與 Lightstep 的合作不僅服務於 IT 的需求，而且以一種可以在企業決策者的價值鏈中消費的方式觀察事物是相當大的。

And then RPA, this whole process mining, RPA and AI, the platform for hyper automation is the ServiceNow platform. That's a huge point. And CJ and his great team, unbelievable team, they are making a major release in RPA, as you know, in our San Diego release. So more and more customers will benefit from the power of the ServiceNow platform, including RPA built into the San Diego release. It's an exciting release. What Amy Lokey and the team have done also on the user experience, I mean, we saw a demonstration of it with the Board. It's unbelievable.

然後是 RPA，全流程挖掘、RPA 和 AI，超自動化平台就是 ServiceNow 平台。這是一個很大的問題。 CJ 和他的偉大團隊，令人難以置信的團隊，正如你所知，他們正在我們的聖地亞哥版本中發布 RPA 的主要版本。因此，越來越多的客戶將受益於 ServiceNow 平台的強大功能，包括內置在聖地亞哥版本中的 RPA。這是一個令人興奮的發布。 Amy Lokey 和團隊在用戶體驗方面也做了什麼，我的意思是，我們在 Board 上看到了它的演示。這太不可思議了。

You know when you're dealing with ServiceNow because you're going to have one gorgeous user experience, and it doesn't matter what area of the platform you're looking to enable. It's all one gorgeous user experience. And I mean I've never seen anything better. And it is the scale story all the way.

您知道何時使用 ServiceNow，因為您將獲得一種美妙的用戶體驗，而且您希望啟用平台的哪個區域並不重要。這都是一種華麗的用戶體驗。我的意思是我從來沒有見過更好的東西。這一直是規模故事。

And when we hit Tokyo in September, I hope to be in Tokyo with that announcement because I want to reach out to my great friends in Japan. There's a Japanese expression called (foreign language), and that underscores the spirit of ServiceNow to be better than the best. And that's the standard that we hold ourselves to. And the marketplace in Japan is really getting the memo on the power of ServiceNow and what we can do to liberate them into the cloud. And that's going to be an exciting part of our growth story.

當我們在 9 月到達東京時，我希望能在東京宣布這一消息，因為我想聯繫我在日本的好朋友。有一個日語表達叫做（外語），它強調了 ServiceNow 比最好更好的精神。這就是我們堅持的標準。日本的市場正在真正了解 ServiceNow 的強大功能以及我們可以做些什麼來將它們解放到雲中。這將是我們成長故事中令人興奮的部分。

Great. And then, Gina, just some clarifications on the extension of the useful life. So you got essentially to flattish op margins but down a bit, like 70 bps on free cash flow. So just making sure that I understand it. And then obviously, you get that benefit to EBIT margins, but that flows through, and we see it on free cash flow because this is just a noncash and you're actually including expenses. So I want to make sure those mechanics are right. And then also, do you get -- in year 2 of this, do you get that tailwind to EBIT and accrual? Does that flip around to a headwind on EBIT margins and gross margins?

偉大的。然後，吉娜，只是對延長使用壽命的一些說明。因此，您基本上必須使營業利潤率持平，但會有所下降，例如自由現金流下降 70 個基點。所以只要確保我理解它。然後很明顯，你從息稅前利潤率中獲得了好處，但這是通過的，我們在自由現金流上看到它，因為這只是一種非現金，你實際上包括了費用。所以我想確保這些機制是正確的。然後，你是否得到 - 在第二年，你是否得到了息稅前利潤和應計利潤的順風？這是否會對息稅前利潤率和毛利率產生不利影響？

Great question, Michael. So you're absolutely right. The benefit that you're seeing this year hit EBIT and operating margins but not free cash flow, right, because it's just a change in depreciation, which is a noncash, right? So that's the reason why you're seeing the benefit in operating income but not in free cash flow. What you are seeing is free cash flow is the increased cost that I've been talking about as the COVID savings start to fade in '22 as we come back in person for digital events and in-person events and travel.

很好的問題，邁克爾。所以你是絕對正確的。你今年看到的收益影響了息稅前利潤和營業利潤率，但沒有影響自由現金流，對吧，因為這只是折舊的變化，是非現金的，對吧？所以這就是為什麼你看到營業收入的好處而不是自由現金流的原因。你所看到的是自由現金流是我一直在談論的成本增加，因為隨著我們親自回來參加數字活動、面對面活動和旅行，COVID 節省的費用在 22 年開始消退。

With respect to the longer tail of this change in depreciation, it definitely tapers off and gets smaller, right? So it's a 100 basis points benefit this year. By 2024, it goes down to just 50 points, right? So -- and that's only on the EBIT margins, not on free cash flow.

關於這種折舊變化的較長尾巴，它肯定會逐漸變小，對嗎？因此，今年的收益為 100 個基點。到 2024 年，它會下降到只有 50 分，對吧？所以 - 這只是息稅前利潤率，而不是自由現金流。

Your next question comes from the line of Brad Zelnick with Deutsche Bank.

您的下一個問題來自德意志銀行的 Brad Zelnick。

Bill, Gina, my congrats as well to you and the entire team and especially to CJ and the others that are so deservedly being elevated within the organization. Bill, you personally have been serving enterprise technology customers for many years. And many of us have been students of the industry for a long time as well. And I hesitate to say this, but it feels like this time is different. This digital transformation freight train just keeps steam rolling down the tracks. And rather than ask you to tell us about the environment, which is obviously very strong for what ServiceNow delivers, I would instead ask you, if you agree with my characterization, why do you think this time might be different.

比爾、吉娜，我也祝賀你和整個團隊，尤其是 CJ 和其他在組織內理應得到提升的人。比爾，您個人多年來一直為企業技術客戶服務。我們中的許多人長期以來也是這個行業的學生。我猶豫要不要這麼說，但感覺這次不一樣了。這輛數字化轉型貨運列車只是讓蒸汽在軌道上滾滾而下。與其要求您告訴我們環境，這顯然對 ServiceNow 提供的功能非常強大，而是我會問您，如果您同意我的描述，為什麼您認為這次可能會有所不同。

Thank you for the question. It is entirely different. It is entirely different because the technology that is available to customers today can be so transformative. And I believe strongly that the Now Platform from ServiceNow is literally the control tower, the platform for digital transformation or digital business.

感謝你的提問。這是完全不同的。這是完全不同的，因為今天可供客戶使用的技術可以如此具有變革性。我堅信 ServiceNow 的 Now 平台實際上是控制塔，是數字化轉型或數字業務的平台。

And the reason I feel so strongly about that is the enterprise has been so behind in consumerizing experiences for people. And now with ServiceNow, these leaders of companies can finally say all I hear is good news. My HR leader tells me that all the clunkiness of the past goes away with ServiceNow and my people are happy, and they're getting what they need. My head of revenue is telling me, wow, we could finally now do all the remote heavy thinking and diagnostics in a fully digital way, and we can bring our story to the customer and have that frictionless digital experience that's easily repeatable, drives tremendous customer sat and NPS and creates the loyalty effect. Wow, we're finally there.

我對此感覺如此強烈的原因是，企業在為人們提供消費體驗方面一直落後。現在有了 ServiceNow，這些公司的領導者終於可以說我聽到的都是好消息。我的人力資源主管告訴我，ServiceNow 讓過去所有的笨拙都消失了，我的員工很開心，他們得到了他們需要的東西。我的收入負責人告訴我，哇，我們現在終於可以以完全數字化的方式進行所有遠程繁重的思考和診斷，我們可以將我們的故事帶給客戶，並擁有易於重複的無摩擦數字體驗，吸引大量客戶sat 和 NPS 並產生忠誠度效應。哇，我們終於到了。

And then we can finally break through. Where companies are trying to refresh old applications, they can say, wow, now I can empower my people. They can build the new innovations. They can refresh the old but build the new innovations. And tech is the idea of liberating, not replacing people and creating more economic value and value-add. Plus, every young person today doesn't want to work for just a paycheck. They want a purpose. And I think our purpose to make work better for everyone is absolutely the right way to go. And I think that the leaders of companies want that for their company.

然後我們終於可以突破了。在公司試圖更新舊應用程序的地方，他們可以說，哇，現在我可以授權我的員工了。他們可以建立新的創新。他們可以更新舊的但建立新的創新。技術是解放而不是取代人並創造更多經濟價值和增值的理念。另外，今天的每個年輕人都不想僅僅為了薪水而工作。他們想要一個目的。而且我認為我們的目標是讓每個人都能更好地工作，這絕對是正確的方法。我認為公司的領導者希望他們的公司能做到這一點。

And therefore, I think the confluence of all of this on one platform with one consumer-grade user experience for all people, whether they're inside or outside the company, a platform that could take cost out and build revenue in is what this generation is waiting for. And once people are aware of ServiceNow, we win every time.

因此，我認為將所有這些融合在一個平台上，為所有人提供一種消費者級用戶體驗，無論他們是在公司內部還是外部，一個可以降低成本並增加收入的平台是這一代人的目標正在等待。一旦人們意識到 ServiceNow，我們每次都會獲勝。

So one of the moves that we've made, and I'm sure you've seen the pivot with the world works with ServiceNow, is bringing the world the brand that it deserves from ServiceNow. And I think that's going to really turn on a lot of people to say, aha, I might have been a C-level decision maker that knew my IT people were happy with ServiceNow. I just never knew why. Once I started to learn about it or I asked about it, now I know that they can activate transformation in all dimensions of my company, not the least of which is be the action layer for the whole enterprise.

因此，我們採取的舉措之一，我相信你已經看到與世界的樞紐與 ServiceNow 合作，就是為世界帶來 ServiceNow 應得的品牌。而且我認為這真的會讓很多人說，啊哈，我可能是一個 C 級決策者，知道我的 IT 人員對 ServiceNow 感到滿意。我只是不知道為什麼。一旦我開始了解或詢問它，現在我知道他們可以在我公司的各個方面激活轉型，其中最重要的是成為整個企業的行動層。

And I keep telling people, when I meet with the CEOs, like we have good systems of record. They're all very fine. But I don't use them. We only use ServiceNow to run ServiceNow. And that's why our people are so happy because everything works.

我一直告訴人們，當我與 CEO 會面時，就像我們有良好的記錄系統一樣。他們都很好。但我不使用它們。我們只使用 ServiceNow 來運行 ServiceNow。這就是為什麼我們的人民如此高興，因為一切正常。

Your next question comes from the line of Pat Walravens with JMP Securities.

您的下一個問題來自 JMP 證券公司的 Pat Walravens。

Bill, congrats on the terrific results and outlook. I love hearing the enthusiasm. Could you drill down deeper for us on the relationship with Celonis and how ServiceNow and Celonis work together to solve customers' problems?

比爾，恭喜取得了不錯的成績和前景。我喜歡聽到熱情。您能否為我們深入了解與 Celonis 的關係以及 ServiceNow 和 Celonis 如何合作解決客戶的問題？

Yes, I absolutely will. And thank you very much for your kind remarks. I really appreciate it. I want to go back a little bit in time on this one. There once was a time where these gentlemen graduated from Technical University of Munich. We call it TUM over in Germany. And I got to know Alex very well several years ago and also his cofounders, and we built a very strong friendship. And he used to laugh because he sent me a note in December telling me about his business. And within a few minutes, I'd get back to him, and he never forgot that. And I still get back to him within a few minutes, and we still have a great friendship. And we know that we have to liberate the past and move it into the cloud. We know we need to put it on an automation platform that can really change business.

是的，我絕對會的。非常感謝您的客氣話。對此，我真的非常感激。我想回到這個時間點。曾幾何時，這些先生畢業於慕尼黑工業大學。在德國，我們稱之為 TUM over。幾年前我非常了解亞歷克斯以及他的聯合創始人，我們建立了非常牢固的友誼。他過去常常笑，因為他在 12 月給我發了一張便條，告訴我他的生意。幾分鐘之內，我就會回复他，他永遠不會忘記這一點。我仍然會在幾分鐘內回复他，我們仍然保持著很好的友誼。我們知道我們必須解放過去並將其轉移到雲端。我們知道我們需要把它放在一個可以真正改變業務的自動化平台上。

And therefore, in the non-ServiceNow environments, especially where it's an ERP environment, Celonis does a very good job in the process mining to actually understand where the breaks are and the opportunities are in the business process to drive business productivity and performance. It is on that basis that we said, look, we should team up because our customers more and more are asking us to get involved, automating back-office business operations and business processes with the Now Platform.

因此，在非 ServiceNow 環境中，尤其是在 ERP 環境中，Celonis 在流程挖掘方面做得非常好，可以真正了解業務流程中的中斷位置和機會，從而推動業務生產力和績效。正是在此基礎上，我們說，看，我們應該合作，因為我們的客戶越來越多地要求我們參與進來，使用 Now Platform 自動化後台業務運營和業務流程。

So we are essentially taking this relationship and applying automation that truly moves the needle for organizations to understand how work flows across the people, processes and systems of their companies. And we're helping map those elements in real time and building digital workflows to more efficiently automate work because the X-ray by itself doesn't really help. We have to then put it on the action platform to actually automate it to drive a result.

因此，我們實質上是在利用這種關係並應用自動化，真正推動組織了解工作如何在其公司的人員、流程和系統之間流動。我們正在幫助實時映射這些元素並構建數字工作流程以更有效地自動化工作，因為 X 射線本身並沒有真正的幫助。然後，我們必須將其放在行動平台上，以真正實現自動化以產生結果。

So our engineering teams have created a seamless product experience that's going to make it easy and simple for customers to get the insight into the process across multiple, I might add, enterprise systems, and they'll use Celonis EMS platform and convert that insight into action, automation and remediation with the ServiceNow workflow platform.

因此，我們的工程團隊創造了一種無縫的產品體驗，這將使客戶能夠輕鬆簡單地了解跨多個（我可能會添加）企業系統的流程，他們將使用 Celonis EMS 平台並將這種洞察力轉化為使用 ServiceNow 工作流平台採取行動、自動化和補救。

And when you bring together process mining, automation, machine learning, RPA and low-code app development, and this touches on a question that came up earlier, low-code app development, into a seamless product experience, customers will enable quick, continuous improvement with the flow of work. And I stress quick because -- and this touches on an earlier, very smart question. These opportunities haven't been there for customers in the past, and they're only going to start learning about them now, which is why I see an even bigger hockey stick as we look into the future because we can revolutionize old installed base problems into new market opportunities in the cloud that are just sensational in terms of the business value they drive for corporations all over the world.

當您將流程挖掘、自動化、機器學習、RPA 和低代碼應用程序開發結合在一起時，這觸及了早先提出的一個問題，即低代碼應用程序開發，融入無縫產品體驗，客戶將能夠快速、持續隨著工作流程的改進。我強調很快，因為——這涉及到一個更早的、非常聰明的問題。這些機會過去沒有為客戶提供，他們現在才開始了解它們，這就是為什麼我在展望未來時看到更大的曲棍球棒，因為我們可以徹底改變舊的安裝基礎問題進入雲中的新市場機會，就它們為全球企業帶來的商業價值而言，這些機會簡直是聳人聽聞的。

Your last question comes from the line of Drew Glaeser with JPMorgan.

您的最後一個問題來自摩根大通的 Drew Glaeser。

This is Drew on for Sterling. I was just wondering how the government vertical performed in the quarter and whether you could provide some more detail on that.

這是斯特林的德魯。我只是想知道本季度政府垂直業務的表現如何，您是否可以提供更多詳細信息。

Yes, I'd be happy to. Our government business is truly a growth story at ServiceNow that is very, very special. So we look at the tailwinds in the U.S. federal market. It came through very strongly. It's a big opportunity for us. What's happening through is many of these agencies, they need or they have a mandate actually to digitally transform. One of the mandates is the President's management agenda, PMA. Their vision is the administration's guide to invest in the government's capacity to deliver better results. And it's aligning with ServiceNow's core offering.

是的，我很樂意。我們的政府業務確實是 ServiceNow 的一個成長故事，非常非常特別。所以我們看看美國聯邦市場的順風。它非常強烈地通過了。這對我們來說是一個很大的機會。通過這些機構中的許多機構正在發生的事情，他們需要或實際上有授權進行數字化轉型。其中一項任務是總統的管理議程，PMA。他們的願景是政府投資於政府提供更好結果的能力的指南。它與 ServiceNow 的核心產品保持一致。

So for example, if you look at the pillars, it's all about strengthening and empowering federal workflow in the workforce. It's sharing data, sharing business processes, looking at things across boundaries. They have delivered excellent, equitable and secure federal services and customer experiences. This is driving acceleration for better customer service.

因此，例如，如果你看一下支柱，那就是加強和授權勞動力中的聯邦工作流程。它共享數據、共享業務流程、跨界查看事物。他們提供了出色、公平和安全的聯邦服務和客戶體驗。這正在推動加速以提供更好的客戶服務。

If you look at their pillar 3, it's managing the business of government and that they want to make sure the systems work well. So this is all about business resiliency. Our cloud is extremely resilient. And they're focused also on cybersecurity. And I think you're familiar with that and the role that we could play in having a control tower for all the things going on from a security perspective. We can help other people's solutions also tie into that control tower effect to manage the nation's cybersecurity and obviously avoid recent ransomware attacks and other things.

如果你看看他們的支柱 3，它是管理政府業務，他們希望確保系統運行良好。所以這都是關於業務彈性的。我們的云非常有彈性。他們還專注於網絡安全。而且我認為您熟悉這一點以及我們可以在從安全角度為所有發生的事情建立控制塔方面所扮演的角色。我們可以幫助其他人的解決方案也與控制塔效應相結合，以管理國家的網絡安全，並明顯避免最近的勒索軟件攻擊和其他事情。

They're also focused on vaccine management. And we said a long time ago -- I believe this was in March of 2020 when we said this -- that the old vaccine management process would be the greatest workflow challenge the government faces maybe in our lifetime. And as you know, we have the world's leading solution for that with entire countries, of course, parts of the United States, Germany, Scotland, many countries, including in Asia running on the Now Platform for vaccine management and returning to work safely and so forth.

他們還專注於疫苗管理。我們很久以前就說過——我相信這是在 2020 年 3 月我們這麼說的時候——舊的疫苗管理流程可能是政府在我們有生之年面臨的最大工作流程挑戰。如您所知，我們擁有世界領先的解決方案，整個國家，當然還有美國的部分地區、德國、蘇格蘭，包括亞洲在內的許多國家都在 Now Platform 上運行疫苗管理並安全恢復工作，並等等。

So all of this, to net it out, basically says that at the federal, the state, the local, the university and all public entities combined are focused on transforming digitally. They have to take these paper-based, slow, dangerous processes and put them in order. And the only way to do that is workflow them, digitize them and then execute the mission of government serving the people. And that's why the public sector now represents double digits of the Now business, about 10% of our business.

所以所有這一切，為了把它弄清楚，基本上是說，在聯邦、州、地方、大學和所有公共實體聯合起來，都專注於數字化轉型。他們必須採取這些紙質的、緩慢的、危險的過程，並把它們整理好。而做到這一點的唯一方法是對它們進行工作流程，將它們數字化，然後執行政府為人民服務的使命。這就是為什麼公共部門現在代表了 Now 業務的兩位數，約占我們業務的 10%。

And look, with the problems the government has been digitizing things, this should be one of the more sensational industry stories for us for a long, long time, which is one of the reasons why the great Kevin Haverty and I, we'll be working very, very closely on the public sector initiative globally in his new capacity.

看，由於政府一直在將事物數字化，這應該是長期以來對我們來說更聳人聽聞的行業故事之一，這也是偉大的凱文哈弗蒂和我的原因之一，我們將成為以他的新身份，在全球範圍內非常非常密切地致力於公共部門倡議。

This concludes today's conference call. Thank you for your participation, and you may now disconnect.

今天的電話會議到此結束。感謝您的參與，您現在可以斷開連接。