ServiceNow, Inc. (NOW) 2021 Q3 法說會逐字稿

Good afternoon. My name is Julianne, and I will be your conference operator today. At this time, I would like to welcome everyone to ServiceNow's Third Quarter 2021 Earnings Conference Call. (Operator Instructions) Lisa Banks, Senior Vice President of Finance at ServiceNow, you may begin your conference.

下午好。我叫 Julianne，今天將擔任各位的電話會議主持人。此刻，我謹代表公司歡迎各位參加 ServiceNow 2021 年第三季財報電話會議。（接線員指示）ServiceNow 財務資深副總裁 Lisa Banks，您可以開始會議。

Good afternoon, and thank you for joining us for ServiceNow's Third Quarter 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 third quarter 2021 financial results and discuss our financial guidance for the fourth quarter of 2021 and full year 2021.

下午好，感謝各位參加 ServiceNow 2021 年第三季財報電話會議。與我一同出席的有我們的總裁暨執行長 Bill McDermott，以及財務長 Gina Mastantuono。在今天的電話會議中，我們將回顧 2021 年第三季財務結果，並討論 2021 年第四季與 2021 全年的財務展望。

Before we get started, we want to emphasize that some of the information discussed on this call, such as our guidance, is based on information as of today and contains forward-looking statements that involve risks, uncertainties and assumptions, including those related to the continued impact of COVID-19 on our business and global economic conditions. We undertake no duty or obligation to update such forward-looking 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 fiscal year 2020 10-K for the factors that may cause actual results to differ materially from those set forth in such forward-looking statements.

在開始之前，我們想強調，本次電話會議中討論的部分資訊（例如我們的展望）係以截至今日的資訊為基礎，並包含前瞻性陳述，涉及風險、不確定性與假設，其中包括與 COVID-19 對我們業務及全球經濟狀況持續影響相關者。除非因新資訊或未來事件而有需要，我們不承擔更新此等前瞻性陳述的任何責任或義務。請參閱今日的財報新聞稿及我們向美國證券交易委員會（SEC）提交的文件（包括最新的 10-Q 以及 2020 會計年度 10-K），以了解可能導致實際結果與此等前瞻性陳述所述結果出現重大差異的因素。

We'd also like to point out that we present 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 we will discuss today are non-GAAP except for revenues, remaining performance obligations or RPO and current RPO or CRPO. To see the reconciliation between these non-GAAP and GAAP measures, please refer to today's earnings press release and accompanying 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.

我們也要指出，除依據 GAAP 計算的財務衡量指標外，我們亦提供非 GAAP 指標，且非 GAAP 指標並非用以取代 GAAP 指標。除非另有說明，我們今天將討論的所有財務衡量指標均為非 GAAP，惟營收、剩餘履約義務（RPO）以及當期 RPO（CRPO）除外。若要查看非 GAAP 與 GAAP 指標之間的調節表，請參閱今日的財報新聞稿及隨附的投資人簡報，兩者均已發布於我們的網站 investors.servicenow.com。今日電話會議的重播也將發布於我們的網站。

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

接下來，我想把電話會議交給 Bill。

Thank you very much, Lisa, and good afternoon, everyone. Welcome to our Q3 earnings call. While a beat-and-raise headline from ServiceNow is familiar, it is no less extraordinary. Our team delivered another outstanding quarter, yet again significantly exceeding the high end of our guidance across all metrics. Subscription revenues were up 31% organically. This is unprecedented in our industry. CRPO was up 32%, subscription billings were up 28%, operating margin was 26%. We again have raised our guidance for the full year, strengthening our clear path to $15 billion-plus in revenue by 2026.

非常感謝你，Lisa，各位下午好。歡迎參加我們的第三季財報電話會議。雖然 ServiceNow「超預期並上調展望」的標題已不陌生，但依然同樣非凡。我們的團隊再度交出亮眼的一季，且在所有指標上都大幅超越我們指引區間的上緣。訂閱營收有機成長 31%，這在我們的產業中前所未見。CRPO 成長 32%，訂閱帳單金額成長 28%，營業利益率為 26%。我們再次上調全年展望，強化我們在 2026 年前達成 150 億美元以上營收的清晰路徑。

I was introduced as ServiceNow's CEO more than 2 years ago. We've all seen a lot since then. What we've never seen is such consistent innovation and execution at global scale. Thanks to our customers, employees and partners, we're well on our way to becoming the defining enterprise software company of the 21st century. And we're only getting started.

我在兩年多前被介紹為 ServiceNow 的執行長。自那以來，我們都見證了許多變化。但我們從未見過在全球規模下如此一致的創新與執行力。感謝我們的客戶、員工與合作夥伴，我們正穩步邁向成為 21 世紀具代表性的企業軟體公司。而我們才剛開始。

Before Gina gives you a complete report, let's talk about this dramatic structural incline at ServiceNow. The pace of digital investment is accelerating. IDC has consistently sized this opportunity at $7.8 trillion over a 4-year period. With this massive addressable market, ServiceNow is at the intersection of 2 generational opportunities: First, the need for a new technology foundation is supercharging our close partnership with CIOs. A recent Wall Street Journal report highlighted the role of CIOs as the architects of digital business.

在 Gina 向各位提供完整報告之前，先談談 ServiceNow 這條顯著的結構性上升曲線。數位投資的步伐正在加速。IDC 一直將這個機會評估為 4 年期間 7.8 兆美元。面對如此龐大的可服務市場，ServiceNow 正處於兩個世代級機會的交會點：第一，對全新技術基礎的需求，正強力推動我們與 CIO 的緊密合作。近期《華爾街日報》的一篇報導也突顯 CIO 作為數位業務架構師的角色。

Ongoing advances in public cloud and machine learning are forging a new era of software innovation. Technology teams want a fully integrated software cycle: planning, development, deployment, operations and service. ServiceNow is leading this 20th to 21st century migration for our customers. The Now Platform, with its immense versatility and scalability, has become the control tower for digital transformation.

公有雲與機器學習的持續進展，正在開創軟體創新的新時代。技術團隊希望擁有完全整合的軟體生命週期：規劃、開發、部署、營運與服務。ServiceNow 正引領客戶完成從 20 世紀到 21 世紀的遷移。Now Platform 具備極高的多樣性與可擴展性，已成為數位轉型的控制塔。

The second dimension fueling ServiceNow is the reordering of the enterprise application platforms for hyperautomation. Leaders today recognize their technology architecture is their business architecture. Over several decades, enterprise has invested trillions into on-premise and first-generation SaaS applications. These applications satisfy the business process needs of the 20th century. Today, new business models require a fully connected value chain. Legacy environments are not adaptive enough to enable this change.

推動 ServiceNow 的第二個面向，是企業應用平台為了超自動化（hyperautomation）而進行的重新排序。今日的領導者已認知到，他們的技術架構就是其業務架構。過去數十年，企業在地端與第一代 SaaS 應用上投入了數兆美元。這些應用滿足了 20 世紀的業務流程需求。如今，新的商業模式需要一條完全連結的價值鏈。傳統環境的適應性不足，無法支援這項變革。

As the pioneer of modern digital workflows, ServiceNow is leading the renaissance. The Now Platform connects different applications and data sources to create intuitive mobile experiences, all at a consumer grade. We don't ask businesses to bet everything on a single system or collaboration tool. We give choice, which not only unlocks value from our platform but from other platform investments as well.

作為現代數位工作流程的先驅，ServiceNow 正引領這場復興。Now Platform 連結不同的應用與資料來源，以消費者等級打造直覺的行動體驗。我們不要求企業把所有賭注押在單一系統或協作工具上。我們提供選擇，這不僅能釋放我們平台的價值，也能釋放其他平台投資的價值。

ServiceNow also empowers anyone to build applications on our platform. In its low-code development technologies report, Gartner estimates that 70% of new applications developed by 2025 will use low-code or no-code technologies. Gartner also named ServiceNow as a leader in its Magic Quadrant. These tailwinds are driving fast organic growth across our entire solutions portfolio. The number of deals greater than $1 million was 63, up 50% year-over-year, signaling substantial adoption of our platform strategy.

ServiceNow 也讓任何人都能在我們的平台上建置應用。在其低程式碼開發技術報告中，Gartner 預估到 2025 年，70% 的新應用將使用低程式碼或無程式碼技術。Gartner 也在其《魔力象限》中將 ServiceNow 評為領導者。這些順風因素正推動我們整體解決方案組合的快速有機成長。超過 100 萬美元的交易筆數為 63 筆，年增 50%，顯示我們平台策略正被大幅採用。

In Q3, IT workflows remained very strong. ITSM was in 18 of our top 20 deals while IT Operations Management had 10 deals over $1 million. For example, the U.S. Internal Revenue Service is in a multiyear digital transformation effort. In Q3, they chose ServiceNow to consolidate 12 complex systems into a single platform to support the agency's mission-critical operations. Demand for our entire IT portfolio is strong. And with the launch of Lightstep Incident Response in Q3, we are unlocking a new wave of product-led growth in application monitoring and observability.

第三季中，IT 工作流程依然非常強勁。ITSM 出現在我們前 20 大交易中的 18 筆，而 IT 營運管理則有 10 筆超過 100 萬美元的交易。舉例來說，美國國稅局正進行多年期的數位轉型。在第三季，他們選擇 ServiceNow，將 12 套複雜系統整合到單一平台，以支援該機構的關鍵任務營運。我們整體 IT 產品組合的需求強勁。而隨著第三季推出 Lightstep Incident Response，我們正在應用監控與可觀測性領域，開啟新一波由產品驅動的成長。

Employee Workflows also had a fantastic quarter with HR in 13 of our top 20 deals. In Q3, NTT Data will leverage the Now Platform to create an employee experience portal, enhancing productivity for hybrid work and managing vaccine administration for its entire workforce. Momentum continues for Customer Workflows with CSM in 12 of our top 20 deals and 8 deals over $1 million. Industry vertical solutions are leading the way with major brands. Verizon is adopting our telco solution, American Century, our financial services solution, and Sunbelt Health, our health care solution.

員工工作流程在第三季也表現出色，人資（HR）出現在我們前 20 大交易中的 13 筆。第三季，NTT Data 將運用 Now Platform 建置員工體驗入口網站，提升混合辦公的生產力，並為其全體員工管理疫苗施打作業。客戶工作流程的動能也持續，CSM 出現在我們前 20 大交易中的 12 筆，且有 8 筆交易超過 100 萬美元。產業垂直解決方案正由多個主要品牌帶動：Verizon 採用我們的電信解決方案，American Century 採用我們的金融服務解決方案，而 Sunbelt Health 採用我們的醫療保健解決方案。

Creator Workflows, which helps businesses build their own applications, was exceptional in Q3 in 18 of our top 20 deals. We're partnering with Stanley Black & Decker to bring ServiceNow's new manufacturing vertical solution with App Engine to change how they serve their customers. Together, we're maximizing facility uptime and delivering great experiences for distributors, dealers and end consumers.

Creator Workflows（協助企業自行建置應用）在第三季表現卓越，出現在我們前 20 大交易中的 18 筆。我們正與 Stanley Black & Decker 合作，透過搭載 App Engine 的 ServiceNow 全新製造業垂直解決方案，改變他們服務客戶的方式。我們將共同最大化設施稼動率，並為經銷商、通路商與終端消費者提供優質體驗。

Fujitsu will also expand its use of the Now Platform to drive its own digital transformation. We couldn't be prouder that Uber, Honeywell, Telia and many others all chose ServiceNow in Q3. This is a complete performance for the company, strong growth across the Americas, EMEA and Asia Pacific/Japan.

Fujitsu 也將擴大使用 Now Platform，以推動其自身的數位轉型。我們對於 Uber、Honeywell、Telia 以及許多其他公司在第三季都選擇 ServiceNow，感到無比自豪。這是公司全面性的表現，在美洲、EMEA 與亞太／日本各地區皆展現強勁成長。

As we look to a strong finish in 2021 and beyond, here are a few of the many factors giving us great confidence in this business. First, while lots of talent is raging out there, we're highly encouraged by the colleagues choosing ServiceNow in record numbers. Our new joiners, together with our amazing global workforce, are building a uniquely inclusive, driven and happy culture.

展望 2021 年的強勁收官以及更長遠的未來，以下是眾多讓我們對這門業務充滿信心的因素之一部分。首先，儘管外部人才競爭激烈，我們仍深受鼓舞，因為選擇加入 ServiceNow 的同仁人數創下新高。我們的新進同仁與我們優秀的全球團隊一起，正在打造一種獨特、包容、積極且快樂的文化。

We're also seeing major developments in our partner ecosystem. Just 3 weeks ago, we announced a new partnership with Celonis. Celonis will deliver process mining insights, ServiceNow will build better workflows, our customers will gain from the integrated approach. We also deepened our long-standing partnership with Microsoft. ServiceNow's Employee Center can now be directly embedded in Microsoft Teams, reaching 250 million monthly users. Together with our expanding partner community, we will reduce complexity to make work better for people.

我們也看到合作夥伴生態系出現重大進展。就在 3 週前，我們宣布與 Celonis 建立新的合作關係。Celonis 將提供流程探勘洞察，ServiceNow 將打造更好的工作流程，而我們的客戶將從整合式方法中受益。我們也深化了與 Microsoft 長期以來的合作夥伴關係。ServiceNow 的 Employee Center 現在可直接嵌入 Microsoft Teams，觸及每月 2.5 億名使用者。結合我們持續擴大的合作夥伴社群，我們將降低複雜度，讓人們的工作變得更好。

Finally, innovation without disruption is a hallmark of our best-in-class engineering tradition. When we say without disruption, we mean invisible, a seamless upgrade experience for our customers. In our Now Platform Rome release, we delivered countless new features to customers, including Mobile App Builder, an Automation Discovery tool, Employee Journey Management and new Customer Service Playbooks. Every business leader in the world is looking at the future of work. These new features give the Now Platform even more capability to build that hybrid future.

最後，無破壞式的創新是我們一流工程傳統的標誌。當我們說「無破壞」，我們指的是「看不見」——為客戶帶來無縫的升級體驗。在我們的 Now Platform Rome 版本中，我們為客戶交付了無數新功能，包括 Mobile App Builder、Automation Discovery 工具、Employee Journey Management，以及新的 Customer Service Playbooks。全球每一位企業領導者都在關注未來的工作型態。這些新功能讓 Now Platform 更具能力，去打造那個混合式的未來。

I'll defer to a comment made by industry analyst Josh Bersin, who said on our Rome Platform release. "This company seems to be able to build and deploy enterprise software faster than almost any I've ever seen, and that's why they're a juggernaut." Josh, naturally, I agree.

我想引用產業分析師 Josh Bersin 在我們 Rome Platform 發布時的一段評論。他說：「這家公司似乎能比我見過幾乎任何公司都更快地建置並部署企業軟體，這也是他們成為巨無霸的原因。」Josh，當然，我同意。

In closing, the company is firing on all cylinders. The quarter speaks for itself. We beat again, we raised again. The secular tailwinds are at our back. Our customer base is expanding just as our customer NPS is increasing. Our partner ecosystem is fired up. We accelerated our time line to be net zero. We help businesses drive their own ESG initiatives on our platform with a major release. The list goes on and on.

總結來說，公司正全速運轉。本季表現不言自明。我們再次超越預期，也再次上調指引。長期結構性順風在我們背後。我們的客戶基礎正在擴大，同時客戶 NPS 也在提升。我們的合作夥伴生態系士氣高昂。我們加速了達成淨零的時間表。我們透過平台的一次重大版本發布，協助企業推動自身的 ESG 計畫。還有更多更多。

Overall, our message to the market couldn't be any clearer. Whatever systems, challenges or opportunities you have, however fast you need to move, you have a trusted innovator in ServiceNow. We want to make the world work better for everyone, and we'll never lose our focus on the privilege that comes with saying, the world works with ServiceNow.

整體而言，我們對市場傳達的訊息再清楚不過。無論你擁有什麼系統、面臨什麼挑戰或機會，無論你需要多快行動，你都能在 ServiceNow 找到值得信賴的創新者。我們希望讓世界對每個人都運作得更好，而我們也永遠不會忘記：能夠說「世界與 ServiceNow 一起運作」所伴隨的那份榮幸與責任。

I look forward to your questions. Gina, over to you.

我期待各位的提問。Gina，交給你。

Thank you, Bill. Q3 was another fantastic quarter with continued outperformance across all of our growth and profitability guidance metrics. Demand was strong globally across all 3 of our geos. The consistency of our results quarter after quarter exemplifies the strength of our product portfolio and the team's focus on building deep customer relationships.

謝謝你，Bill。第三季又是一個非常出色的季度，我們在所有成長與獲利指引指標上持續超越表現。全球三大地區的需求都很強勁。我們一季接一季穩定的成果，展現了我們產品組合的實力，以及團隊專注於建立深厚客戶關係的成果。

Q3 subscription revenues were $1.43 billion, $22 million above the high end of our guidance range and growing 31% year-over-year, inclusive of 100 basis points tailwind from FX. RPO ended the quarter at approximately $9.7 billion, representing 34% year-over-year growth. Current RPO was approximately $5 billion, representing 32% year-over-year growth and a 2-point beat versus our guidance. Currency did not have an impact on year-over-year growth.

第三季訂閱營收為 14.3 億美元，較我們指引區間上緣高出 2,200 萬美元，年增 31%，其中包含外匯帶來的 100 個基點順風。RPO 於季末約為 97 億美元，年增 34%。當期 RPO（Current RPO）約為 50 億美元，年增 32%，較我們指引高出 2 個百分點。匯率對年增率沒有影響。

Q3 subscription billings were $1.38 billion, representing 28% year-over-year growth and a $55 million beat versus the high end of our guidance. FX and duration were 150 basis points tailwind year-over-year. We saw broad-based strength across the industries we serve, with transportation and logistics and business services seeing particularly robust net new ACV growth. Our renewal rate was a healthy 98% in Q3, a testament to the value ServiceNow delivers to our customers.

第三季訂閱帳單金額為 13.8 億美元，年增 28%，較我們指引上緣高出 5,500 萬美元。外匯與合約期間（duration）對年增率帶來 150 個基點順風。我們在所服務的各產業都看到廣泛的強勁表現，其中運輸與物流，以及商業服務的淨新增 ACV 成長尤其強勁。我們第三季續約率維持在健康的 98%，這證明了 ServiceNow 為客戶帶來的價值。

We view our relationships with customers as long-term partnerships, and we continually innovate to provide new solutions to address their evolving business needs. That land-and-expand motion has manifested into a base of 1,266 customers paying us over $1 million in ACV, up 25% year-over-year. As the breadth of our portfolio and the addressable opportunities have expanded, so too have our deal sizes. We closed 63 deals greater than $1 million net new ACV in the quarter, up over 50% year-over-year. And in Q3, all of our top 20 deals included 4 or more products.

我們將與客戶的關係視為長期夥伴關係，並持續創新，提供新解決方案以因應其不斷演進的業務需求。這種「先落地、再擴張」（land-and-expand）的動能，已體現在目前有 1,266 家客戶的 ACV 超過 100 萬美元，年增 25%。隨著我們產品組合的廣度與可觸及機會擴大，我們的交易規模也同步提升。本季我們完成了 63 筆淨新增 ACV 超過 100 萬美元的交易，年增超過 50%。而在第三季，我們前 20 大交易全部都包含 4 項或以上的產品。

Turning to profitability. Operating margin was 26%, 3 points above our guidance, primarily driven by the strong revenue beat. We also saw savings from the delay in return to work and lower travel. Our free cash flow margin was 15%. Together, these results show the power of our business model and our ability to drive a balance of growth and profitability.

接著談獲利能力。營業利益率為 26%，較我們指引高出 3 個百分點，主要受惠於強勁的營收超預期。我們也因延後返回辦公室以及較低的差旅支出而節省成本。自由現金流利潤率為 15%。綜合來看，這些結果展現了我們商業模式的威力，以及我們在成長與獲利之間取得平衡的能力。

We're delivering great experiences that drive powerful employee engagement, fierce customer loyalty and significant productivity gains. By delivering more intelligent automation that provides even better experiences, we are well positioned as the workflow standard on our journey to becoming a $15 billion-plus revenue company.

我們正在提供卓越體驗，推動強大的員工投入度、強烈的客戶忠誠度，以及顯著的生產力提升。透過交付更智慧的自動化、帶來更好的體驗，我們在邁向成為年營收超過 150 億美元公司的旅程中，已穩居工作流程標準（workflow standard）的有利位置。

Turning to guidance. We're raising our guidance for the full year. We're raising our subscription revenue outlook by $32 million at the midpoint to a range of $5.565 billion to $5.57 billion, representing 30% year-over-year growth, including 200 basis points of FX tailwinds. We are raising our subscription billings outlook by $61 million at the midpoint to a range of $6.379 billion to $6.384 billion, representing 28% year-over-year growth.

接著談指引。我們上調全年指引。我們將訂閱營收展望在中位數上調 3,200 萬美元至 55.65 億至 55.70 億美元區間，代表年增 30%，其中包含外匯帶來的 200 個基點順風。我們將訂閱帳單展望在中位數上調 6,100 萬美元至 63.79 億至 63.84 億美元區間，代表年增 28%。

Excluding the early customer payments in 2020, our normalized subscription billings growth outlook would be 32% year-over-year at the midpoint. Growth includes a net tailwind from FX and duration of 200 basis points. We continue to expect 2021 subscription gross margin of 85%, and we're raising our full year 2021 operating margin from 24.5% to 25%. This reflects the increase in our top line growth and savings from the delay in return to work and lower travel.

若排除 2020 年的提前客戶付款，我們的常態化（normalized）訂閱帳單成長展望在中位數將為年增 32%。成長包含外匯與合約期間（duration）合計帶來的 200 個基點淨順風。我們仍預期 2021 年訂閱毛利率為 85%，並將 2021 全年營業利益率由 24.5% 上調至 25%。這反映了營收成長提升，以及延後返回辦公室與較低差旅支出帶來的節省。

We're also raising our full year 2021 free cash flow margin by 50 basis points from 31% to 31.5%. And we expect diluted weighted average outstanding shares of 202 million. For Q4, we expect subscription revenues between $1.515 billion and $1.52 billion, representing 28% year-over-year growth, including a negligible impact from FX. We expect CRPO growth of 27% year-over-year. This includes a 150 basis point FX headwind due to sharp movements recently in the euro and pound. On a constant currency basis, we expect CRPO growth to be 28.5%.

我們也將 2021 全年自由現金流利潤率上調 50 個基點，從 31% 提升至 31.5%。我們預期稀釋後加權平均流通股數為 2.02 億股。第四季方面，我們預期訂閱營收介於 15.15 億至 15.20 億美元，代表年增 28%，外匯影響可忽略不計。我們預期 CRPO 年增 27%。其中包含因近期歐元與英鎊大幅波動而帶來的 150 個基點外匯逆風。以固定匯率（constant currency）計算，我們預期 CRPO 年增 28.5%。

We expect subscription billings between $2.305 billion and $2.31 billion, representing 26% year-over-year growth. Excluding the early customer payments in Q4 of 2020, our normalized subscription billings growth outlook would be 32% year-over-year at the midpoint. Growth includes a net headwind from FX and duration of 50 basis points. We expect an operating margin of 22%, which includes accelerated demand generation spend in the quarter to set us up for a strong start in 2022, and we expect 203 million diluted weighted outstanding shares for the quarter.

我們預期訂閱帳單介於 23.05 億至 23.10 億美元，代表年增 26%。若排除 2020 年第四季的提前客戶付款，我們的常態化訂閱帳單成長展望在中位數將為年增 32%。成長包含外匯與合約期間（duration）合計帶來的 50 個基點淨逆風。我們預期營業利益率為 22%，其中包含本季加速的需求生成（demand generation）支出，以為 2022 年強勁開局做好準備；同時我們預期本季稀釋後加權平均流通股數為 2.03 億股。

In summary, the pace of digital investment is accelerating, and ServiceNow is rising up to seize the opportunities before us. The team has never been more engaged and focused on serving the enormous needs of our customers. And as ServiceNow becomes the defining enterprise software company of the 21st century, we are also remaining steadfast in our goal to create positive impact in the world. I'm happy to announce that in September, we committed to reaching our net zero emissions goal by 2030, 2 decades earlier than our previous goal.

總結來說，數位投資的步伐正在加速，而 ServiceNow 正挺身而出，把握眼前的機會。團隊從未如此投入，並專注於滿足客戶龐大的需求。隨著 ServiceNow 成為 21 世紀具代表性的企業軟體公司，我們也堅定不移地朝著在世界上創造正向影響的目標前進。我很高興宣布，我們在 9 月承諾將於 2030 年達成淨零排放目標，比先前的目標提前了 20 年。

We've never been prouder of our employees and their continued focus on serving our customers, partners and communities as we make not only work, work better but the world work better, too. Our hungry and humble culture is stronger than ever. We can't thank our employees enough for their hard work and dedication.

我們從未如此以員工為榮，也為他們持續專注於服務客戶、合作夥伴與社群而感到驕傲——在我們不僅讓工作運作得更好，也讓世界運作得更好之際。我們渴望進取且謙遜的文化比以往更強大。我們對員工的辛勤付出與奉獻感激不盡。

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

接下來，我們開始問答。

(Operator Instructions) Your first question will come from Kash Rangan from Goldman Sachs.

（接線員指示）你們的第一個問題來自高盛的 Kash Rangan。

Bill and Gina, outstanding, outstanding quarter. Bill, I wanted to just get your high-level thoughts, coming as we did -- after a spectacular quarter and listening to your compadre, Satya Nadella, on his call yesterday, who talked about tech as a percentage of global GDP going from 5% to 10%. I think he said that before, which leaves us with the inescapable conclusion that tech density, enterprise tech density is just going higher. It's not the world from 10 years back where a couple of ERP systems and that's it. Now it's thousands and thousands of SaaS applications and the whatnot. So where does that leave ServiceNow in terms of business prospects for spreading horizontally, vertically with your ITOM, IPS and the Workflow Engine, obviously, given that enterprise tech density is just set to go from higher or even higher levels.

Bill 和 Gina，表現非常、非常出色的一季。Bill，我想聽聽你高層次的看法：在我們剛經歷一個精彩季度之後，再聽到你的夥伴 Satya Nadella 昨天在他的電話會議上談到，科技占全球 GDP 的比重將從 5% 提升到 10%。我想他以前也提過這點，這讓我們得出一個無可避免的結論：科技密度、企業科技密度只會越來越高。這已不是 10 年前那種只有幾套 ERP 系統就結束的世界。現在是成千上萬的 SaaS 應用程式等等。因此，在企業科技密度勢必從更高走向更高的背景下，ServiceNow 在業務前景上——無論是橫向擴張、縱向深入，搭配你們的 ITOM、IPS 與 Workflow Engine——你認為會處於什麼位置？

And 1 for you, Gina. When you look at this year, this year has been fascinating. Net new business has been accelerating for a few quarters. I know that you've not given us thoughts on '22 yet, but how do you feel qualitatively stepping into 2022 with a renewal base that looks very solid? Your net new business trends are getting better. Curious to get your thoughts.

還有一題給你，Gina。當你回顧今年，今年真的很精彩。淨新增業務已經連續幾個季度加速。我知道你們還沒有對 2022 年提供看法，但從質性角度來看，帶著看起來非常穩健的續約基礎邁入 2022 年，你的感受如何？你們的淨新增業務趨勢正在改善。想聽聽你的想法。

Well, Kash, thank you very much for your kind remarks. You called the progress of our share price early on in the year. Congratulations to you. You had it nailed. A couple of things, Kash. If you look at the geographies around the world, every single geography not only beat expectations but they actually beat their internal plan handily. So every geography is expanding with ServiceNow at a record clip.

Kash，非常感謝你的好意。你在年初就點出了我們股價的進展。也恭喜你，你說得很準。有幾點，Kash。如果你看全球各個地區，每一個地區不僅超出預期，還大幅超越其內部計畫。所以每個地區都以創紀錄的速度與 ServiceNow 一起擴張。

If you look at our expansion in industry, we saw a growth across all of our industry categories this quarter. It's amazing. Industries that were COVID-impacted like transportation, logistics, business services, telecom, media, technology, financial services, government, education, every single one of them was an unbelievable success story this quarter. And we have expanded dramatically in manufacturing, health care, life sciences, telecommunications and banking, just to name a few. So think geo, think industry.

如果你看我們在產業面的擴張，本季我們在所有產業類別都看到成長。很驚人。那些受 COVID 影響的產業，例如運輸、物流、商業服務、電信、媒體、科技、金融服務、政府、教育，每一個本季都是令人難以置信的成功案例。而且我們在製造、醫療保健、生命科學、電信與銀行等領域也大幅擴張，僅舉幾例。所以想想地理區域，也想想產業。

Also think persona. This Employee Workflow business of ours is unstoppable because the employee experience is unstoppable, especially in a labor market that requires talent. And as you pointed out, Satya's remarks are absolutely right. The GDP growth in tech is inescapable because it's the only way out in a hybrid world to manage a competitive company, especially when you're competing for talent and you have to give them a great experience, example, onboarding experience, connecting all of their training tools, really making them a part of the culture when they might not even be in your buildings.

也要想想角色（persona）。我們的員工工作流程（Employee Workflow）業務勢不可擋，因為員工體驗勢不可擋，尤其是在需要人才的勞動市場。正如你指出的，Satya 的評論完全正確。科技領域的 GDP 成長無可避免，因為在混合式世界中，這是管理具競爭力公司的唯一出路，特別是當你在爭奪人才、必須提供很棒的體驗時，例如入職（onboarding）體驗、串接所有訓練工具，真正讓他們成為文化的一部分，即使他們可能根本不在你的辦公大樓裡。

Customer Workflows. We announced a partnership with Twilio, dealing with WhatsApp and various messaging techniques because all the old school ways are going away quickly. So with our CSM, our Employee Workflows, the experiences we're giving to people is just unreal. And don't forget the Creator Workflows. 500 million net new applications will be developed in the next 2-plus years and that will be developed for companies by companies in their own technology departments, and there's not enough engineers to do that in the world, so the Now Platform is a growth sensation.

客戶工作流程（Customer Workflows）。我們宣布與 Twilio 合作，涵蓋 WhatsApp 以及各種訊息傳遞方式，因為所有傳統方式正在快速消失。因此，透過我們的 CSM、員工工作流程，我們帶給人們的體驗真的不可思議。也別忘了創作者工作流程（Creator Workflows）。未來 2 年多將開發 5 億個淨新增應用程式，而這些將由企業、在企業自己的技術部門中為企業開發；全球沒有足夠的工程師能完成這件事，所以 Now Platform 是一個成長熱潮。

All of these forces are coming together at once. And that is why I could not be more confident in the bullish stance on ServiceNow not just in the short term. We run our business with clear messaging, clear facts. We could see the pipeline way into 2022 and, in some cases, beyond. It is a fantastic situation right now, Kash.

所有這些力量同時匯聚。這就是為什麼我對 ServiceNow 的看多立場不僅在短期內、而是更長期都充滿信心。我們以清晰的訊息、清楚的事實來經營業務。我們可以看到一路延伸到 2022 年、在某些情況下甚至更遠的管線。Kash，現在的情勢非常棒。

And Kash, on your question with respect to '22, obviously, it's a bit early to talk guidance, but you are 100% correct, right? Our renewals base is very strong. We've seen very strong net new ACV acceleration throughout the year, as I've been talking about. And so we feel really bullish on the opportunities ahead of us in '22.

Kash，關於你對 2022 年的問題，顯然現在談指引還有點早，但你說得完全正確，對吧？我們的續約基礎非常強勁。正如我一直在談的，我們全年都看到淨新增 ACV 的加速非常強。因而我們對 2022 年前方的機會感到非常樂觀。

The one thing that I would note is that FX has turned against us a little bit as we head into '22. And so I'm sure you would have all seen, especially with respect to the euro, the dollar increasing. And so we have a bit of a headwind on FX as we look into '22 but feel really good about the underlying health of the business, our renewals, our net new ACV. And so we're poised to have a strong 2022.

我想補充的一點是，隨著我們邁入 2022 年，外匯（FX）對我們稍微轉為不利。因此我相信大家都看到了，特別是就歐元而言，美元走強。所以在展望 2022 年時，我們在外匯上會有一些逆風，但我們對業務的基本健康狀況、我們的續約、我們的淨新增 ACV 都感覺非常好。因此我們已蓄勢待發，將迎來強勁的 2022 年。

Your next question comes from Karl Keirstead from UBS.

下一個問題來自 UBS 的 Karl Keirstead。

Gina, 3 months ago on the 2Q call, you prepped us in terms of the back half seasonality into thinking 3Q would be a little bit subseasonal, 4Q stronger as you were seeing that deal skew. In fact, you put up numbers where the 3Q actual and the 4Q billings guide of 26% are roughly even. So I'm just curious whether since you made that call, that seasonality 3Q, 4Q has changed and whether it played out in the way that you expected.

Gina，3 個月前在第二季電話會議上，你讓我們對下半年季節性有所準備，認為第三季會稍微偏淡季、第四季更強，因為你看到交易偏向第四季。實際上，你交出的數字顯示第三季實績與第四季 26% 的帳單指引大致相當。所以我想問的是，自從你做出那個判斷以來，第三季、第四季的季節性是否有改變？以及它是否如你預期那樣發展？

Thanks for the question. I really appreciate it. Listen, I think we are really proud of the Q3 beat that we saw. Bill talked about all geos operating on all cylinders, and that's across the geographies, across all of the product portfolios. And so we were really pleased with the beat that we saw in Q3.

謝謝你的問題，我非常感謝。聽著，我們對第三季的超預期表現感到非常自豪。Bill 談到所有地區都火力全開，這涵蓋各個地理區域、也涵蓋所有產品組合。因此我們對第三季看到的超預期表現非常滿意。

We absolutely continue to see more business back half weighted to Q4. That is going to be a trend that we continue to see. When you look at our Q4 results and our Q4 guide, you have to remember last year Q4. We had that $80 million of early payments that were brought forward that really drove a higher growth number in Q4. And if you normalize that, it's why I called out pretty transparently in the script, if you normalize for that, we're seeing 32% growth in Q4 billings. And so a really strong guide, given our scale and our base.

我們確實仍然看到更多業務在下半年、偏向第四季。這將會是我們持續看到的趨勢。當你看我們第四季的結果與第四季指引時，你必須記得去年第四季。我們有 8,000 萬美元的提前付款被提前入帳，這確實推動了第四季更高的成長數字。如果把那個因素正常化，這也是為什麼我在講稿中相當透明地指出：若以正常化口徑來看，我們看到第四季帳單成長為 32%。因此在我們的規模與基礎之下，這是一個非常強勁的指引。

Your next question comes from Kirk Materne from Evercore ISI.

下一個問題來自 Evercore ISI 的 Kirk Materne。

Bill, can you just talk a little bit about the federal business this quarter and sort of the opportunities for that going into the fourth quarter or maybe next year? And then Gina, just 1 follow-up to Karl's question on the fourth quarter guide. I realize that seasonality is getting more compounded. There's a lot of co-term activity that goes on around the fourth quarter. I guess people are wondering why maybe the guidance wasn't upsized a little bit relative to where it was implied going into it. So I was just kind of curious, I realize there's a lot of permutations that go into the fourth quarter, just given the size of it. But was there anything else that maybe is making you be a little bit more conservative just in terms of visibility into to add-on deals and things like that?

Bill，你能否談談本季的聯邦業務，以及進入第四季或可能明年的相關機會？另外 Gina，針對 Karl 的第四季指引問題再追問一點。我理解季節性變得更複雜，第四季周邊會有很多共同到期（co-term）的活動。我想大家在想，為什麼指引沒有相對於先前隱含水準再上調一些。我只是好奇，我知道第四季因為規模很大，有很多不同的組合因素。但是否還有其他原因，讓你在可見度上對加購交易（add-on deals）等方面稍微更保守一些？

Kirk, thank you very much for your question. We had a very, very strong federal quarter. 15 deals over $1 million. 14 federal agencies are now paying us more than $10 million. Key strategic wins included the IRS, which I talked about already, but it's certainly not limited to that. It's pretty amazing how the government is rethinking strategies in terms of communication and providing services digitally to the citizens, which is incredible because as you know, that's all about the user experience and it's a workflow challenge.

Kirk，非常感謝你的提問。我們的聯邦業務本季非常、非常強勁。有 15 筆超過 100 萬美元的交易。現在有 14 個聯邦機構每年付給我們超過 1,000 萬美元。關鍵的策略性勝利包括我已經談過的 IRS，但當然不僅限於此。政府正在重新思考溝通策略，以及如何以數位方式向公民提供服務，這相當令人驚豔；因為如你所知，這完全關乎使用者體驗，而這是一個工作流程的挑戰。

For example, look at how difficult it was for the government to get money out to small businesses during COVID. There are also some big opportunities with new initiatives in the administration, including resiliency, business continuity, outages, terrorism, COVID, cybersecurity on top of many lists. The White House actually put out an executive order on improving the nation's cybersecurity after recent ransom attacks. So that's all workflow related, leveraging existing systems that don't talk to each other very well. You're certainly not going to rip and replace them, right? So that's where the Now Platform comes in.

例如，看看在 COVID 期間政府要把資金發放給小型企業有多困難。政府新一屆施政也有一些重大機會，包括韌性（resiliency）、營運持續（business continuity）、停機（outages）、恐怖主義、COVID、資安等，這些都名列許多清單之首。白宮在近期勒索攻擊之後，實際上發布了一項關於提升國家資安的行政命令。所以這些都與工作流程相關，並且需要運用既有、但彼此之間不太能互通的系統。你當然不會把它們全部拆掉重建（rip and replace），對吧？這就是 Now Platform 發揮作用的地方。

And then just think about vaccine management. It remains one of the greatest workflow challenges the government faces. And boosters now will likely need to be re-administered on a regular basis. This, again, is a workflow challenge to distribute, administer and monitor vaccines. So we're in the mix on all of that. And what we're seeing is the connection of federal, state and cities that are all implementing the Now Platform to engage with citizens. So they're using products like Customer Service Management to help digitize these workflows that can no longer be processed in person because the offices are still closed due to the pandemic.

再想想疫苗管理。它仍然是政府面臨的最大工作流程挑戰之一。而追加劑（booster）現在很可能需要定期重新施打。這同樣是一個工作流程挑戰：分配、施打並監測疫苗。因此我們也參與其中。我們看到的是聯邦、州與城市之間的連結，它們都在導入 Now Platform 以與公民互動。因此他們正在使用像客戶服務管理（Customer Service Management）這樣的產品，來協助將這些工作流程數位化；因為由於疫情，辦公室仍然關閉，這些流程已無法再以面對面方式處理。

So overall, take this as a strong, aggressive, bullish, confident reply that the public sector is embracing the Now Platform as its transformational opportunity at federal, state, local, university and all public entities that are quickly embracing us because our Net Promoter Score is so high and at word of mouth, they're saying this is the way to go, go now.

總體而言，請把這視為一個強而有力、積極進取、看多且充滿信心的回應：公部門正把 Now Platform 視為其轉型機會，涵蓋聯邦、州、地方、各大學以及所有公共實體；他們正迅速擁抱我們，因為我們的淨推薦值（Net Promoter Score）非常高，而且口耳相傳都在說這就是該走的路，現在就走。

And Samad (sic) [Kirk] on your follow-up question with respect to Q4, and so I talked a bit about the normalized billings, right? So that's 32% for Q4. We actually have a 50 basis point FX headwind in Q4 of this year versus we had a 150 basis point tailwind in Q3. So we really are moving in the right direction. What I would also call out is last year, Q4 saw tremendous growth even when you normalize for those $80 million in collections.

另外，Samad（原文如此）[Kirk]，針對你關於第四季（Q4）的追問，我先前談到一些「常態化」的帳單金額（normalized billings），對吧？所以第四季是 32%。實際上，今年第四季相較之下有 50 個基點的外匯（FX）逆風，而第三季則有 150 個基點的順風。所以我們確實正朝正確方向前進。我也要特別指出，去年第四季即使在將那 8,000 萬美元的收款（collections）常態化之後，仍然出現了驚人的成長。

And so we are basically a 32% growth in Q4 this year normalized on top of a 32% growth last year, so strong growth upon strong growth. I will say also that not only did we raise the guide for Q4 by our Q3 beat, but we increased it by another $13 million in billings. We are seeing headwinds in Q4 for FX, but excluding that, constant currency, constant duration growth is really strong.

因此，今年第四季在常態化口徑下是 32% 的成長，而且是建立在去年同樣 32% 成長的基礎之上，也就是強勁成長疊加強勁成長。我也要說明，我們不僅因第三季優於預期（Q3 beat）而上調了第四季指引，還另外把帳單金額再提高了 1,300 萬美元。第四季我們確實面臨外匯逆風，但若排除外匯影響，以固定匯率、固定期間（constant currency, constant duration）來看，成長其實非常強勁。

Your next question comes from Brad Sills from Bank of America Securities.

下一個問題來自美國銀行證券（Bank of America Securities）的 Brad Sills。

Wanted to ask about the Celonis partnership. It seems interesting. Natural interplay with some of the AI features and the enterprise additions. Where do you see that partnership providing the biggest boost when you look across the stack at ServiceNow?

我想問一下與 Celonis 的合作夥伴關係。看起來很有意思，與一些 AI 功能以及企業端的擴展有很自然的互補。當你從 ServiceNow 的整體技術堆疊來看時，你認為這個合作會在哪些地方帶來最大的助益？

Yes. Brad, thank you very much. I mean, the quick answer, right, is the Creator Workflow platform. But what you're seeing out there is many businesses really have not maximized the value of their digital investments because they lack insight into the inefficiency of their processes, and that's what's holding back their business operations. So if you want to move the needle, organizations are going to need to understand how work is done across people, processes and systems.

是的。Brad，非常感謝。我的快速答案是：Creator Workflow 平台。但你在市場上看到的是，許多企業其實並沒有把他們的數位投資價值最大化，因為他們缺乏對流程低效率的洞察，而這正拖累了他們的營運。因此，如果你想帶來實質改變，組織就需要理解工作是如何在「人、流程與系統」之間被完成的。

So what's happening here is ServiceNow and Celonis will help customer map those elements in real-time and then build digital workflows to more efficiently automate work. So we're going to create a seamless product experience for customers that's going to make it easy and simple for them to get insight into their processes across multiple enterprise systems. You'll be able to use Celonis' EMS platform and convert that insight, the x-ray, into action, automation and remediation on the ServiceNow workflow platform.

所以這裡正在發生的是：ServiceNow 與 Celonis 將協助客戶即時（real-time）映射這些要素，然後建立數位工作流程，以更有效率地自動化工作。我們將為客戶打造無縫的產品體驗，讓他們能夠輕鬆、簡單地洞察其跨多個企業系統的流程。你將能使用 Celonis 的 EMS 平台，並把這些洞察（那張 X 光片）轉化為在 ServiceNow 工作流程平台上的行動、自動化與修復（remediation）。

So think about bringing together process mining, automation, machine learning, RPA and low-code app development into a seamless combined product experience that customers will be enabled to quickly and continuously improve the flow of work. So shorter answer is the Creative Workflow platform, but what's happening is Celonis gets the x-ray, especially in the non-ServiceNow environments. And then we use all the power of the Now Platform, including process mining in the ServiceNow environment, to give them a fast automation platform to make that business process home and really drive business outcomes. So I think this one is going to be really exciting. And I think my good partners, Alex and Bastian and Martin, I know our engineers are very committed to each other and we're going to nail it.

所以可以把它想成：把流程探勘（process mining）、自動化、機器學習、RPA 與低程式碼應用開發整合成一個無縫的聯合產品體驗，讓客戶能快速且持續地改善工作流。更短的答案是 Creator Workflow 平台；但實際上是 Celonis 先做 X 光檢視，特別是在非 ServiceNow 的環境中。接著我們運用 Now Platform 的全部能力（包括在 ServiceNow 環境中的流程探勘），提供一個快速的自動化平台，讓該業務流程真正落地，並實際推動業務成果。我認為這會非常令人興奮。我也相信我優秀的合作夥伴 Alex、Bastian 和 Martin；我知道我們的工程團隊彼此都非常投入，我們一定會把它做到位。

That's great to hear. One more if I may, just on that same topic there. With Creator, the progress you're seeing this quarter, 18 of the top 20 deals, are there any patterns you're seeing emerge in terms of common applications that are perhaps repeatable through the SI channel? Or just any color on where you're seeing traction there on the application side?

很高興聽到。若可以我再問一個，還是同一個主題。就 Creator 而言，你們本季看到的進展，前 20 大交易中有 18 筆；在常見應用方面，你們是否看到一些正在浮現的模式，可能可以透過 SI 通路重複複製？或是能否分享一些你們在應用端看到的動能？

Yes, it's amazing. We literally had a review of this business just yesterday and our outstanding leader just took us through it. And what we're basically saying is the Now Platform is integrated with all systems of record, right? So customers can build applications fast. And we really are the platform of all the other platforms. I've been saying platform of platforms for a long time.

是的，這很驚人。我們 буквально 就在昨天才檢視了這項業務，我們傑出的負責人帶著我們逐一看過。我們基本上在說的是：Now Platform 與所有的記錄系統（systems of record）都能整合，對吧？所以客戶可以快速建置應用。我們確實是所有其他平台的平台。我很久以前就一直在說「平台中的平台」（platform of platforms）。

And I want to make it clear, like we respect all those other platforms, all those other excellent brands. Our job is to make all of them even better by moving into the action layer or the hyperautomation layer on the Now Platform. And the trend we're seeing is the younger generation of workers, they're not going to submit tickets. They want action. So enterprises are creating these centers of excellence, and they're letting citizen developers build a solution to solve for the business challenges.

我也想說清楚：我們尊重所有那些其他平台、所有那些優秀品牌。我們的工作是透過在 Now Platform 上進入行動層（action layer）或超自動化層（hyperautomation layer），讓它們變得更好。我們看到的趨勢是：年輕一代的工作者不會去提交工單（tickets），他們要的是行動。因此企業正在建立這些卓越中心（centers of excellence），並讓公民開發者（citizen developers）打造解決方案，以解決業務挑戰。

So I believe that hyperautomation is a key differentiator. And because we have this one platform that does it all, RPA, low-code, process mining all on a single platform and now with Celonis, we get process mining in the non-ServiceNow environments, we bring everything together so customers can completely rethink their business model.

所以我相信超自動化是一個關鍵差異化因素。而且因為我們有一個能做全部事情的平台：RPA、低程式碼、流程探勘都在同一個平台上；現在再加上 Celonis，我們也能在非 ServiceNow 的環境中進行流程探勘。我們把一切整合起來，讓客戶能夠徹底重新思考他們的商業模式。

Example I gave in the script is Stanley Blacker -- they're based -- Stanley Black & Decker. They're combining their new manufacturing vertical solution with the App Engine to build over 70 custom applications. This is all being done on the Now low-code Application platform. And Fujitsu also is an example where they're using App Engine to drive digital transformation and sustainability across the company, moving the green line, not just the top and bottom line.

我在講稿中舉的例子是 Stanley Blacker——他們的總部在——Stanley Black & Decker。他們把新的製造業垂直解決方案與 App Engine 結合，打造了超過 70 個客製化應用。這全部都是在 Now 的低程式碼應用平台上完成的。Fujitsu 也是一個例子，他們使用 App Engine 推動全公司的數位轉型與永續發展，推動「綠色線」，不只是營收與盈虧（top and bottom line）。

Your next question comes from Samad Samana from Jefferies.

下一個問題來自 Jefferies 的 Samad Samana。

Bill, maybe 1 for you. You've talked a lot about hiring and continuing to sustain growth. I noticed as I look at hiring in your professional services department, you've already added more people in 2021 than you did, I think, in the last 2 years combined. I'm just curious, should we see that as a leading indicator of projects that are firing up or ServiceNow taking a more active role in helping their own customers implement new deals? Just how should we think about that?

Bill，或許有一題給你。你談了很多關於招募以及持續維持成長。我注意到，當我看你們專業服務部門的招募時，你們在 2021 年新增的人數已經比我想的過去兩年合計還多。我只是好奇，我們是否應該把這視為專案正在啟動的領先指標，或是 ServiceNow 正在更積極地扮演協助自家客戶導入新交易的角色？我們應該如何看待這件事？

You should think of ServiceNow as a growth company, as a company that is firing on all cylinders and as a company that is attracting the best talent in the industry. And that's really a sustaining part of our success. I'll give you an example. You take somebody like Erica Volini, who joined from Deloitte. She had a fantastic career at Deloitte, and she wanted to come in and help us transform the service experience for our customers.

你應該把 ServiceNow 視為一家成長型公司、一家火力全開的公司，以及一家正在吸引業界最優秀人才的公司。而這正是我們成功得以延續的重要部分。我舉個例子：像 Erica Volini 這樣的人才，她從 Deloitte 加入。她在 Deloitte 有非常出色的職涯，而她希望加入我們，協助我們為客戶轉型服務體驗。

We're collapsing the pre- and post-sale conversation. Everything here is about business impact and we're rethinking the whole services model. That's why our customer satisfaction and our Net Promoter Score is soaring. Not just our retention, we're focused on the in-process measures. That's why Jon Sigler came to us after a great career at Apple, Microsoft and Salesforce and said he believed that the Now Platform was the future of business.

我們正在把售前與售後的對話整合在一起。這裡的一切都圍繞著業務影響（business impact），而我們正在重新思考整個服務模式。這也是為什麼我們的客戶滿意度與淨推薦值（Net Promoter Score）正在飆升。不只是留存率（retention），我們也聚焦在流程中的衡量指標（in-process measures）。這也是為什麼 Jon Sigler 在 Apple、Microsoft 和 Salesforce 有了很棒的職涯之後加入我們，並表示他相信 Now Platform 是商業的未來。

And what we have been able to do is hire thousands of people even in a pandemic because the Now Platform enables us to create these seamless hiring, onboarding, immediately skilling people up to our culture and their training needs and then managing them in a hybrid world in a way that gives them the experience of our culture. And the word gets out there quickly. We are literally harder to get into than Stanford statistically, even as you see thousands joining.

而我們能做到的是：即使在疫情期間也能招募數千人，因為 Now Platform 讓我們能建立無縫的招募、到職（onboarding）流程，讓人員立即融入我們的文化並滿足其訓練需求，接著在混合式（hybrid）工作世界中管理他們，同時讓他們感受到我們的文化體驗。而口碑很快就傳開了。從統計上來看，即使你看到有數千人加入，我們實際上比進史丹佛還難。

So we are not opportunity constrained. And that's what I've been saying the whole time, why are we organically growing? Why are we committed to our engineering? Why are we fiercely committed to our market leadership? Because we can be. This is the platform of this generation, and we're investing primarily in great engineers and great go-to-market, especially quota-bearing, where we can deliver for our shareholders, our customers and our partners.

所以我們不受機會所限。而這也是我一直以來在說的：為什麼我們能有機地成長？為什麼我們致力於工程研發？為什麼我們對市場領導地位如此堅定？因為我們做得到。這是這一代的平台，而我們主要投資在優秀的工程師與優秀的 go-to-market，特別是具備配額責任（quota-bearing）的團隊，讓我們能為股東、客戶與合作夥伴交付成果。

The other thing I want to underscore is we have really expanded the ecosystem. So as you even see us hiring thousands, just think, the ecosystem is hiring even more thousands and thousands to get around this Now Platform and get their piece of the action in geos, in industries and personas. This is a growth story.

我想強調的另一件事是，我們確實大幅擴展了生態系。即使你看到我們正在招募數千人，也請想想：生態系為了圍繞這個 Now Platform 運作、在各個地理區域、各個產業與各類角色中分一杯羹，正在招募更多、更多的數千人。這是一個成長故事。

Bill, not only do we see it as a growth story but one of the best growth stories. So maybe Gina, just a quick follow-up for you, if I can squeeze it in. Just as I think about some of the new customers signed in 4Q of last year, there is still a lot of uncertainty in the market. Are you seeing those customers expand at a higher rate or maybe being easier to upsell as you get -- as you lap the cohorts maybe that were signed up late last year as new adds, just as we get more certainty in what looks to be a stronger macro environment?

Bill，我們不僅把它視為一個成長故事，而且是最好的成長故事之一。所以 Gina，如果可以的話，我想快速追問一下。當我想到去年第四季簽下的一些新客戶時，市場仍然有很多不確定性。你是否看到這些客戶以更高的速度擴張，或是在你們——隨著你們跨過去年底簽下的那些新增客戶批次（cohorts）——在看起來更強勁的總體環境帶來更多確定性時，更容易進行加購（upsell）？

Yes. I mean, we're really pleased with our new logos, both from Q4 of last year and throughout 2021. We're seeing strong growth even in Q3 with 6 new customers greater than $1 million. And they're across industries, just in Q3 alone. That's banking, retail, manufacturing and energy, just to name a few. And we're absolutely seeing our deal sizes grow, right? New customers, average deal size growth quarter-on-quarter and year-on-year.

是的。我的意思是，我們對新客戶（new logos）非常滿意，無論是去年第四季還是整個 2021 年。我們在第三季也看到強勁成長，新增了 6 家年度合約金額超過 100 萬美元的客戶。而且僅第三季就橫跨多個產業，包括銀行、零售、製造與能源等，僅舉幾例。我們也確實看到我們的交易規模在成長，對吧？新客戶的平均交易規模不論季對季或年對年都在成長。

And we're seeing healthy growth abroad in EMEA and APJ as well. And so we're really focused on evolving our plans to the right new customers. And IT continues to be a high percentage of those new logos, and we're seeing -- but we're actually seeing a much higher percentage also of lands occurring with CSM, App Engine and HR. And so those cohorts are growing very well, our expansion rate is doing very well and just really firing on all cylinders across all 3 of our geographies.

我們也看到在海外的 EMEA 與 APJ 有健康的成長。因此我們非常專注於把我們的方案演進到合適的新客戶上。IT 仍然占這些新客戶（new logos）的很高比例；但我們其實也看到，以 CSM、App Engine 與 HR 作為落地（land）的比例高出許多。因此這些批次（cohorts）成長得非常好，我們的擴張率表現也非常好，基本上在我們三大地理區域都火力全開。

Your next question comes from Keith Weiss from Morgan Stanley.

下一個問題來自 Morgan Stanley 的 Keith Weiss。

Gina, a question for you. Just trying to kind of understand the kind of the very varying trajectories of kind of what you're describing in terms of billings growth. It sounds like it's accelerating into Q4. And granted there's a lot of normalizations in here, I think this is where the answer is to get to that 32% normalized billings growth in Q4 versus the current RPO growth, which you guided to a pretty sharp deceleration, I think going from like 32% growth to 28.5% on a constant currency basis. Are there any kind of factors that we should be aware of in terms of adjustments or sort of changing contract dynamics that would cause that variance in the trajectories?

Gina，我有個問題想請教你。我試著理解你所描述的、在帳單金額（billings）成長方面非常不同的走勢。聽起來它在第四季加速。當然這裡面有很多正常化（normalizations），我想這就是答案所在：第四季正常化後的帳單金額成長為 32%，相較之下，目前的 RPO 成長你們指引為相當明顯的減速，我想是在固定匯率基礎上從大約 32% 成長降到 28.5%。在走勢差異上，是否有任何我們需要留意的因素，例如調整項目或合約動態的變化，會造成這種軌跡上的差異？

Yes, it's a great question and so rightfully so, you took into account the FX is impacting our CRPO. Most of the remaining CRPO growth deceleration is actually due to seasonality within our renewal cohort. And so our typical customer contract term, as you know, is around 36 months on average, and we have a large cohort coming up for renewal in 2022. So this is starting to flow out of Q4 of this year, right, which -- because it won't include the future renewals until they renew within 2022. And so that deceleration is really what's driving that -- it's the seasonality of the cohort that's driving that deceleration. And once that cohort renews in 2022 and with 98% renewal rates across the board, right, we feel really good and strong about our renewal base, that will have a stabilizing impact to the RPO growth in 2022.

是的，這是個很好的問題，所以你把外匯（FX）對我們 CRPO 的影響納入考量是正確的。其餘大部分的 CRPO 成長減速，其實是來自我們續約客群（renewal cohort）的季節性。因此如你所知，我們典型的客戶合約期限平均約 36 個月，而我們在 2022 年有一大批客戶即將續約。所以這件事會從今年第四季開始反映出來，對吧？因為在他們於 2022 年完成續約之前，CRPO 不會包含未來的續約金額。因此，推動那個減速的主要原因就是——是該批次（cohort）的季節性在推動那個減速。而當該批次在 2022 年完成續約後，加上我們整體 98% 的續約率，對吧？我們對續約基礎感到非常良好且強勁，這將在 2022 年對 RPO 成長帶來穩定作用。

Your next question comes from Alex Zukin from Wolfe Research.

下一個問題來自 Wolfe Research 的 Alex Zukin。

Congratulations again. Bill, maybe just the first one for you around your -- I know you beat this drum quite a bit for the first 3 quarters, but I want to ask it again. As we look to 2022, your approach towards and thinking about organic versus inorganic growth, obviously, the organic growth and the profile of the company has been second to none to date. How are you thinking about the road to $15 billion-plus as you sit here today within that construct? And I have a quick follow-up for Gina.

再次恭喜。Bill，第一個問題想問你。關於你們的——我知道你在前三個季度已經反覆強調這點，但我想再問一次。展望 2022 年，你對有機成長與非有機成長的策略與思考是什麼？顯然，到目前為止公司的有機成長與成長輪廓可說是無與倫比。以你今天所處的位置，在這個架構下，你如何思考通往 150 億美元以上的道路？我也有個問題要追問 Gina。

Alex, it's a great question. I could not be -- I could not possibly be more confident in our ability to achieve the $15 billion-plus on an organic basis by 2026, which is exactly what I said at the Investor Day. And I also underscore the fact that we recognize that our balance sheet is extremely strong and will be even stronger as we move into the future. And we continue to source, look at, consider all options that would benefit shareholder value creation without ever passing on any tech debt to customers as many others have done.

Alex，這是個很好的問題。我對我們在 2026 年以前以有機方式達成 150 億美元以上的能力，信心再高也不為過——這正是我在投資人日所說的。我也要強調，我們知道我們的資產負債表非常強健，而且隨著我們邁向未來只會更強。我們也持續尋找、評估並考慮所有能夠提升股東價值創造的選項，同時絕不把任何技術債（tech debt）轉嫁給客戶——這是許多其他公司曾做過的事。

So just know that everything is always on the table, but at this time, there are no substantial acquisitions on the table, not a single one. And we could not be more confident in our organic growth. In fact, that's where we are looking at our investments and we're prioritizing them because we're certainly not opportunity-constrained, Alex. The company is in fantastic shape.

所以請知道，一切選項永遠都在桌上，但就目前而言，桌上沒有任何重大收購案，一個都沒有。我們對有機成長的信心也再高不過。事實上，我們正是把投資放在這裡並加以優先排序，因為我們當然不是受限於機會，Alex。公司狀況非常好。

That's awesome. And Gina, maybe 1 for you. We've talked a lot about growth and confidence in growth both into Q4 and even beyond. I wanted to ask you a question about margins. Some of your peers have talked about models coming out of the pandemic that are more efficient, learnings that maybe not every salesperson has to get on a plane, and there's more productivity to be had in a remote world and construct. While others have talked about investing more aggressively for growth and doubling down and seeing some of the tailwinds from the pandemic savings potentially revert next year, where does ServiceNow fit in from a margin conversation standpoint as we start to think about a more normalizing environment, hopefully?

太棒了。Gina，我也想問你一個問題。我們談了很多關於成長，以及對第四季甚至更長期成長的信心。我想問的是關於利潤率（margins）。你的一些同業談到疫情後的營運模式更有效率，例如學到不一定每位業務都要搭飛機出差，在遠距世界與架構下可以有更高的生產力。也有一些同業談到為了成長而更積極投資、加碼投入，並且看到疫情期間節省的成本紅利可能在明年回歸。那麼在我們開始思考一個更正常化的環境（希望如此）時，從利潤率的討論角度來看，ServiceNow 會落在哪一邊？

Absolutely. It's a great question. Thank you so much, Alex. So first of all, 100%, I'd note that many of our learnings from working remotely will absolutely have lasting effects on our overall efficiency. But I've been pretty transparent throughout the year that it does give us the ability and the agility to redeploy savings elsewhere, right? Bill just talked about organic growth, right? We are at an inflection point where we have no lack of opportunity. And we are, first and foremost, a growth company and we will absolutely invest behind that.

當然可以。這是個很好的問題。非常感謝你，Alex。首先，我要說 100%：我們從遠距工作中得到的許多學習，絕對會對我們整體效率產生長期影響。但我今年一直相當透明地提到，這也讓我們有能力與敏捷性把節省下來的成本重新部署到其他地方，對吧？Bill 剛才談到有機成長，對吧？我們正處於一個拐點，機會一點也不缺。而且我們首先是一家成長型公司，我們絕對會在這方面加大投資。

That being said, at our Financial Analyst Day in May, I talked about committing to 26.5% margin by 2024. We absolutely remain committed to that and on that trajectory. But I don't think that, that increase is going to be linear, right? As we think about offices reopening and travel becoming more consistent and in-person events happening more, we definitely don't believe that it's going to be a linear path to 26.5%. I'm not actually in a position at this point to guide to 2022, but we are 100% committed to, over that 3-year period, getting to 26.5% because we absolutely believe that we'll have savings that we'll be able to take from these learnings and efficiencies from the pandemic and redeploy them on growth opportunities that we see absolutely in front of us today.

話雖如此，在 5 月的金融分析師日上，我談到承諾在 2024 年達到 26.5% 的利潤率。我們仍然完全致力於此，並且正沿著那條軌跡前進。但我不認為那個提升會是線性的，對吧？當我們思考辦公室重新開放、差旅變得更一致，以及更多線下活動恢復舉辦時，我們確實不認為通往 26.5% 會是一條線性的路徑。我目前其實還無法對 2022 年提供指引，但我們 100% 承諾在那個 3 年期間達到 26.5%，因為我們確實相信，我們將能把疫情期間的學習與效率所帶來的節省拿出來，並重新部署到我們今天眼前確實存在的成長機會上。

Your next question comes from Tyler Radke from Citi.

下一個問題來自 Citi 的 Tyler Radke。

I noticed that the $1 million customers were up pretty nicely year-over-year here in Q3. Was wondering kind of the drivers of that. Was there some one-offs? And should we expect that type of strength in kind of $1 million customer adds heading into your seasonally strongest quarter?

我注意到第三季年度合約金額達 100 萬美元的客戶數年對年增加得相當不錯。我想了解其背後的驅動因素。是否有一些一次性因素？以及在你們季節性最強的季度即將到來之際，我們是否應該預期新增 100 萬美元客戶也會有這種強勁表現？

Yes, you should expect it to continue, Tyler. The reality is we've become a platform company. I came in a couple of years ago now, and we've really seen the transformation of the company to full-scale enterprise software company. And we took the strength that we had in IT, and we have made it really our hallmark because it's very clear now in this world, as the world is dealing with digital transformation, everybody understands that the technology architecture is the business architecture.

是的，Tyler，你應該預期它會持續下去。現實是，我們已經成為一家平台型公司。我在幾年前加入，而我們確實看到了公司轉型為全方位的企業級軟體公司。我們把在 IT 方面的優勢發揮到極致，並把它真正做成我們的標誌性特色，因為在當今這個世界，當全球都在面對數位轉型時，每個人都明白：技術架構就是商業架構。

And that has given us enormous responsibility but also permission to expand the perimeter into the employee experience, into customer service management, including direct-to-consumer, field service management. This Creator Workflow business, which is just an absolute sensation, ties together so many of these disjointed processes, systems and silos and enterprises today and really puts together an enterprise software market-leading approach from ServiceNow. So think of us as an enterprise player on a platform that is unstoppable.

而這也賦予我們巨大的責任，同時也給了我們擴大邊界的「許可」：延伸到員工體驗、客戶服務管理（包含直面消費者 direct-to-consumer）、現場服務管理。這個 Creator Workflow 業務簡直是現象級的存在，把當今企業中許多彼此割裂的流程、系統、孤島與組織串聯起來，並真正由 ServiceNow 打造出一套在企業軟體市場領先的方法論。所以，把我們視為一個在勢不可擋的平台上運作的企業級玩家。

Great. And Bill, you mentioned earlier that transportation and logistics were particularly strong on net new ACV. And was just curious kind of on the angle of supply chain constraints that a lot of industries are facing. Are you finding that, that's kind of a catalyst for a conversation around digitizing and kind of creating more efficient workloads? And just help us understand the balance of that versus potential challenges, closing deals, just given the supply chain constraints.

很好。Bill，你先前提到運輸與物流在淨新增 ACV 方面特別強。我想從許多產業正面臨的供應鏈限制這個角度請教：你們是否發現，這成為推動「數位化」與打造更高效率工作負載的對話催化劑？也請協助我們理解，這與潛在挑戰（例如在供應鏈受限下成交/結案）之間的平衡。

Yes. Actually, it's a great question, Tyler, because I know in some industries, they talk about the supply chain dilemma and boats off the port with a lot of things in them. But this is actually an opportunity for us because what's happening now is companies have to reorient their business models. They have to think about their extended supply chain. They have to rewire who their partners are actually going to be and who they're not going to be. How they're going to source things from different places in the world that they've never even worked with before. And this is all going to create the extended supply chain opportunity for the Now Platform.

是的。其實這是個很好的問題，Tyler，因為我知道在某些產業，他們談到供應鏈困境，以及港外停著載滿貨物的船。但這對我們而言其實是個機會，因為現在正在發生的是：企業必須重新調整其商業模式。他們必須思考其延伸供應鏈（extended supply chain）。他們必須重新梳理未來的合作夥伴會是誰、又不會是誰；他們將如何從世界上不同、甚至過去從未合作過的地方採購。這一切都將為 Now Platform 創造延伸供應鏈的機會。

You might have noticed, for example, we acquired [Gekkobrain], which is a small company in Denmark because we are in so many different ERP-related conversations where we're helping our great ERP friends. Instead of doing mass customization through consultants that would take years and years, with the Now Platform, you can do it in days. So this is creating a groundswell of opportunity on the ERP level, on the supply chain level, on the finance level, on the procurement level. It's just unbelievable. I mean, I've never seen an opportunity like this in my entire career.

例如你可能注意到，我們收購了 [Gekkobrain]，這是一家丹麥的小公司，因為我們正參與許多與 ERP 相關的對話，協助我們優秀的 ERP 夥伴。過去若透過顧問進行大規模客製化，可能要花上好幾年；但用 Now Platform，你可以在幾天內完成。因此，這在 ERP 層面、供應鏈層面、財務層面、採購層面都正在形成一股巨大的機會浪潮，簡直難以置信。我是說，我在整個職涯中從未見過這樣的機會。

Your next question comes from Sterling Auty from JPMorgan.

下一個問題來自摩根大通（JPMorgan）的 Sterling Auty。

Just 1 question from my side. Bill, I just wondered if you can give us an update in terms of the experience you saw in the quarter around the customer service use case. And then separately, when you look at the observability process -- or progress that you're making, if you could just give us an update on kind of where you stand in kind of moving into that market segment.

我這邊只有 1 個問題。Bill，我想請你更新一下本季在客戶服務（customer service）使用案例方面你們看到的情況。然後另外，當你看你們在可觀測性（observability）流程——或進展——所取得的成果時，能否也更新一下你們目前在切入該市場區隔方面的進度與位置？

Yes. Thank you very much, Sterling. I really appreciate it. So let me start with Lightstep, first of all, because I want to give a big shout-out to Ben and his great team. We love Ben, we love his team and they're just going to be a sensation here. We are continually impressed by the depth of engineering talent at Lightstep and the observability solution. We're still in the early innings of integrating the business, as you know, but we've had strong upsells from existing customers, and we're seeing that as a testament to how they value Lightstep's product, and it's already delivering to organizations.

是的。非常感謝你，Sterling，我真的很感激。那我先從 Lightstep 談起，因為我想特別向 Ben 和他優秀的團隊致敬。我們喜歡 Ben，也喜歡他的團隊，他們在這裡一定會成為現象級的存在。我們持續對 Lightstep 的工程人才深度以及其可觀測性解決方案印象深刻。如你所知，我們仍處於整合該業務的早期階段，但我們已從既有客戶看到強勁的加購（upsell），這也證明客戶對 Lightstep 產品的重視，而它也已經在為各組織帶來交付成果。

It's currently being sold on a stand-alone basis, but we expect that to be going to market solidly with ServiceNow at an enterprise level in 2022. We're also doing some product direct sales with the Lightstep product in the Internet channel, and I think that is also a potential elixir that markets may not be expecting from ServiceNow. It's kind of a new play in the playbook and we're pretty excited about it.

目前它仍以獨立產品（stand-alone）方式銷售，但我們預期在 2022 年，它將在企業層級與 ServiceNow 一起穩健地推向市場。我們也透過網路通路（Internet channel）對 Lightstep 產品進行一些產品直銷，我認為這也可能成為市場未必預期 ServiceNow 會帶來的一帖良方。這有點像是作戰手冊中的新打法，我們對此相當興奮。

On CSM, I'm really excited about our leadership in CSM. We have a fantastic leader in CSM with industry-renowned experience. And we're winning in verticals everywhere. Whether it's financial services, telecom, health care and life sciences, it's pretty incredible. What you're seeing here, and I actually went through this business review yesterday as well, you're seeing CSM completely rethink direct-to-consumer, you're rethinking customer service management and you're thinking about messaging, you're thinking about WhatsApp differently, you're thinking about Twilio and ServiceNow embedding these really swift solutions to the customer experience.

在 CSM 方面，我對我們在 CSM 的領導地位感到非常振奮。我們在 CSM 有一位非常出色的領導者，具備業界知名的經驗，而我們在各個垂直產業都在獲勝。不論是金融服務、電信、醫療保健與生命科學，都相當驚人。你在這裡看到的是——我昨天也剛做過這個業務檢視——你會看到 CSM 正在徹底重新思考直面消費者（direct-to-consumer），重新思考客戶服務管理；你也在思考訊息傳遞，重新思考 WhatsApp，重新思考 Twilio 與 ServiceNow 如何把這些非常迅速的解決方案嵌入到客戶體驗之中。

Think about field service management, think about the connected experience for the ultimate consumer. Yes, other CRM companies have done a very good job on the engagement layer. Unfortunately, the customer experience doesn't end with the engagement layer. It begins with the engagement layer. So the operations layer of the company and the back-office IT capability of the company has to be tethered to that engagement layer, which is giving us net new opportunities, including IoT opportunities with field service and fleets of products, fleets of trucks, fleets of cars, EV marketplaces that we've never seen the likes of.

想想現場服務管理（field service management），想想為最終消費者打造的連結式體驗（connected experience）。是的，其他 CRM 公司在互動層（engagement layer）做得非常好。不幸的是，客戶體驗並不會在互動層結束；它是從互動層開始的。因此，公司的營運層（operations layer）以及後台 IT 能力必須與互動層緊密連結，這也為我們帶來淨新增機會，包括 IoT 機會：例如現場服務與各種產品車隊、卡車車隊、汽車車隊、電動車（EV）市集等，我們從未見過如此規模與樣貌的機會。

And then you combine that with the Creator Workflow where it's kind of like, "Hey, I can have it my way? You mean, I could customize that?" Yes. And guess what, when you do the upgrade with ServiceNow, you don't have to get the consulting team in to rethink the whole implementation with us, it's invisible. It's like driving a Tesla. You press a button, the next day, you have a new Tesla. That's what ServiceNow is doing, incredible innovation.

接著再把 Creator Workflow 結合起來，就有點像是：「嘿，我可以照我的方式來？你是說，我可以客製化？」是的。而且你知道嗎，當你用 ServiceNow 進行升級時，你不需要再把顧問團隊找來，重新思考整個導入方案；它是無感的（invisible）。就像開特斯拉一樣，你按下一個按鈕，隔天你就有一台新的特斯拉。這就是 ServiceNow 正在做的事，令人難以置信的創新。

Your next question comes from Raimo Lenschow from Barclays.

下一個問題來自巴克萊（Barclays）的 Raimo Lenschow。

Congrats from me as well. Bill, you now are in new areas with RPA and observability from the acquisitions a few months ago. What has been the customer feedback? And then since you announced Celonis as well, how do you kind of draw the line between partnership versus doing yourself? And how is that playing out so far?

我也表示祝賀。Bill，你們透過幾個月前的收購，現在進入了 RPA 和可觀測性等新領域。客戶回饋如何？另外，自從你們也宣布與 Celonis 合作後，你們如何劃分「合作夥伴」與「自己做」之間的界線？到目前為止進展如何？

Yes. Well, thank you very much, Raimo. Again, as I said, ServiceNow's platform has process mining. We have RPA, we have machine learning. We have AI ops. We have all the predictive technologies based on the moves we made, as you know, built in. But there are non-ServiceNow environments, especially if you think about large-scale ERP environments as just 1 example, where business processes are fragmented. There are multiple instances of multiple participants.

是的。非常感謝你，Raimo。再次重申，如我所說，ServiceNow 的平台具備流程探勘（process mining）。我們有 RPA，我們有機器學習。我們有 AIOps。基於我們所做的布局，如你所知，我們把所有預測型技術都內建其中。但在非 ServiceNow 的環境中——尤其以大型 ERP 環境作為其中 1 個例子——業務流程往往是碎片化的，存在多個實例、涉及多方參與者。

And the customer really needs an x-ray, what's going on around here. And we combine that knowledge of all the non-ServiceNow environments that require process mining x-ray with what we do ourselves to get a force multiplier effect. And as a result, Celonis is here. There's no doubt the gold standard for workflow automation in the enterprise is ServiceNow. Why would we want to spend our time building the gold standard? We partner with you. We moved the x-ray into the action layer and together, we offer the customers something they never got before, a great x-ray and an unbelievable immediate value to action process on the Now Platform.

而客戶真的需要一張 X 光片，看看這裡到底發生了什麼。我們把對所有需要流程探勘「X 光」的非 ServiceNow 環境的洞察，與我們自身所做的事情結合起來，產生倍增效應（force multiplier effect）。因此，Celonis 就在這裡。毫無疑問，企業工作流程自動化的黃金標準是 ServiceNow。我們為什麼要花時間再去打造那個黃金標準？我們選擇與你合作。我們把 X 光帶進行動層（action layer），並一起為客戶提供他們以前從未得到過的東西：一張很棒的 X 光片，以及在 Now Platform 上把洞察立即轉化為行動流程的驚人價值。

And I really think this is a perfect example of trust being the ultimate human currency. I would have never done the partnership with Alex and Bastian and Martin and their terrific team. I might add Munich, Germany, one of my great friends and the world knows how much I love Germany as a second home. So it's really fun to work with them. They all went to the Technical University of Munich, by the way, where I have great relationships. And just think about all the customers in Germany that are going to hear this news, that they're going to be like, "Wow, I'm trying to modernize my architecture. Can you give me an x-ray and then you can move all the innovation on to an action layer, and then I can start to drive business outcomes in days, weeks and months as opposed to multiple years? I think I'd sign now."

而我真的認為，這是「信任是終極的人類貨幣」的完美例子。如果不是 Alex、Bastian、Martin 以及他們出色的團隊，我絕不會做這個合作。我還要補充一下：慕尼黑，德國——那是我一位很好的朋友所在之處，全世界都知道我把德國當作第二個家有多喜愛。所以能與他們合作真的很有趣。順帶一提，他們都畢業於慕尼黑工業大學（Technical University of Munich），而我在那裡也有很深的關係。再想想德國所有將聽到這個消息的客戶，他們可能會說：「哇，我正試著現代化我的架構。你能給我一張 X 光片，然後把所有創新移到行動層，讓我能在幾天、幾週、幾個月內推動業務成果，而不是花上好幾年嗎？我想我現在就會簽。」

Your next question comes from Matt Hedberg from RBC Capital Markets.

您的下一個問題來自 RBC Capital Markets 的 Matt Hedberg。

Congrats from me as well, guys. I guess whether it could be for either Bill or Gina. You mentioned -- I guess, there was an earlier question from Alex on sort of the future of work. I'm just sort of curious, what is ServiceNow's philosophy on the future of work? And I guess, Bill, I'm wondering, as reps, sales reps get out on the road and there's more in-person conferences, industry conferences, do you suspect that, that could help improve pipelines even further than more of a remote selling process?

我也向各位致上恭喜。我想這個問題可能可以請 Bill 或 Gina 回答。你們提到——我想先前 Alex 有問到關於未來工作型態的問題。我有點好奇，ServiceNow 對於未來工作的理念是什麼？另外，Bill，我也想請教，隨著業務代表、銷售代表開始重新上路，且有更多面對面的會議、產業研討會，你是否認為這可能會比偏向遠端銷售的流程，進一步幫助提升銷售管線？

Yes, Matt, there's no doubt, it's all upside, right? Because what you're seeing now is a purely digital motion to the marketplace. The great news is CEOs, management teams and leaders of all kinds and companies, both in the public and the private sector, have accepted this new way of communication, which I believe has expedited collaboration and has expedited decision-making because you don't have the clunkiness and the clumsiness of the heavy travel to get something done in a few minutes as opposed to a few weeks, especially in a global company, is a blessing.

是的，Matt，毫無疑問，這完全是利多，對吧？因為你現在看到的是一種純數位化的方式在推向市場。好消息是，CEO、管理團隊以及各類型的領導者與企業——無論是公部門或私部門——都已接受這種新的溝通方式。我相信這加速了協作，也加速了決策，因為你不再需要笨重、繁瑣的長途差旅；在全球性公司裡，能在幾分鐘內完成原本可能要花幾週才能完成的事情，真的是一種福音。

However, there is nothing that will ever replace humans being in the same room, ideating, collaborating, dreaming, thinking about the next frontier. And that's why it's all upside for us because we're going to combine everything we're doing now in the playbook with the direct motions, and we're going to leverage the hybrid world, both for ourselves, our customers and our partners. So I actually think the tailwind going into an economy that's opening up is probably underestimated by everybody on the call today.

不過，永遠沒有任何事物能取代人們在同一個房間裡，一起發想、協作、做夢、思考下一個前沿。這也是為什麼對我們而言完全是利多，因為我們會把現在在作戰手冊中所做的一切，與更直接的推進方式結合起來，並運用混合式世界——不論對我們自己、我們的客戶或合作夥伴都是如此。所以我其實認為，隨著經濟重新開放而帶來的順風，可能被今天電話會議上的每個人低估了。

Looking forward to that as we look into 2022. Congrats, guys.

期待在展望 2022 年時看到這些發展。恭喜各位。

And we have time for 1 last question. It will come from Arjun Bhatia from William Blair.

我們還有時間再回答最後 1 個問題。問題將來自 William Blair 的 Arjun Bhatia。

I'll add my congrats on the quarter. Bill, in your prepared remarks, you talked about companies consolidating, your customers consolidating legacy systems on ServiceNow. I'm curious whether you're starting to get to the point where within the systems that you're replacing, we're starting to see some maybe more modern SaaS applications that are being removed and folded into the Now deployment as well. Or are we still at this phase where there's still so much work to be done on legacy on-prem systems so you're not seeing those modern applications kind of fold into your platform?

我也要恭喜本季表現。Bill，在你事先準備的談話中，你提到企業正在整併，你們的客戶正在把既有系統整併到 ServiceNow 上。我想請教，你們是否開始進入一個階段：在你們所取代的系統中，我們也開始看到一些較現代的 SaaS 應用程式被移除，並一併納入 Now 的部署？還是說我們仍處於這個階段——在傳統的內部部署（on-prem）系統上仍有大量工作要做，因此你們還沒有看到那些現代應用程式被整合進你們的平台？

Yes. It's a really good question, Arjun. What I'm seeing is there's still a massive set of customers out there with legacy. And what you're also seeing -- and Gina, as an example, is our internal champion on ESG, works here beautifully with the engineering team when we announced one of the greatest ESG-in-a-box solutions in the world, actually, I think it's the only 1 in the world.

是的。這是個非常好的問題，Arjun。我看到的是，市場上仍有大量客戶在使用傳統系統。你同時也看到——以 Gina 為例，她是我們內部推動 ESG 的主力，當我們宣布推出全球最頂尖的 ESG-in-a-box 解決方案之一時（其實我認為它是全球唯一的 1 個），她與工程團隊的合作非常出色。

But what's amazing is, there's all these islands of automation. Everybody is doing something good that's a modern system or a modern product or a modern tool. That's fine, but it doesn't necessarily unify on a common architecture where there is security, there's enterprise coherence, there's business operations, there's 1 end-to-end process that includes all the people, all the processes and all the technology and that's where the Now Platform comes in.

但令人驚訝的是，存在著各種自動化的孤島。每個人都在做一些不錯的事情——可能是現代化系統、現代化產品或現代化工具。這很好，但它不一定能在共同的架構上達成統一：在那個架構中有安全性、有企業一致性、有營運管理，並且有 1 個端到端流程，涵蓋所有人員、所有流程與所有技術——而這正是 Now Platform 發揮作用的地方。

And it's especially true in the world of 20th century architectures because even if you move them to a cloud, just think about the cost, the time, the risk and the companies that are dealing with do-or-die moments today, they just don't want to wait. So to have an action platform that can absolutely simulate the perfect enterprise at record speed, and I might add, with a gorgeous consumer-grade UX, is a sensational business case. And that's why you're seeing the deals get bigger, you've seen us go into a platform company model, and you now see that ServiceNow is a clear sensation. It's because we're giving the customer what they want.

而這在 20 世紀架構的世界裡尤其明顯，因為即使你把它們搬到雲端，也請想想成本、時間與風險；而那些今天正面臨生死關頭的公司，他們就是不想等。因此，能有一個行動平台，以破紀錄的速度去模擬理想的企業運作，而且我還要補充，具備精美的消費者等級 UX，這是一個極具說服力的商業案例。這也是為什麼你看到交易規模變大、你看到我們轉向平台型公司的模式，而你現在也看到 ServiceNow 成為一個明確的市場焦點。因為我們正在提供客戶想要的東西。

And what I also learned, and I think it's an important attribute of our engineering culture and our great engineering leader and all of his leaders, we always say here at ServiceNow that our strategy is informed by our customers' strategy and deeply understanding their issues and their opportunities. And we are so quick to be able to innovate and get new releases out to market at excellent quality. And then even the ones that we didn't get out in the release can be handled by the Creator Workflow platform.

另外我也學到一點，我認為這是我們工程文化、我們優秀的工程領導者以及他所有領導團隊的一個重要特質：我們在 ServiceNow 一直說，我們的策略是由客戶的策略所啟發，並且要深度理解他們的問題與機會。我們能非常快速地創新，並以極佳的品質把新版本推向市場。甚至那些沒有納入該次版本釋出的需求，也可以透過 Creator Workflow 平台來處理。

We also built something inside of ServiceNow called NowX, where we have a series of on-deck organic innovations that are going to hit the market and take it by storm. I had an earlier question on supply chain. That's one of the major areas where we're focused on. So there's such an opportunity with legacy. There's still such an opportunity to unify these enterprises on common platforms. There's such an opportunity for hyperautomation to automate what people thought they already automated, that I just can't see any constraint to the growth agenda of ServiceNow.

我們也在 ServiceNow 內部打造了一個叫 NowX 的東西，裡面有一系列即將上線的原生創新，將會進入市場並掀起風暴。我先前有被問到供應鏈，那就是我們聚焦的主要領域之一。因此，在傳統系統上仍有非常大的機會；在把這些企業統一到共同平台上仍有非常大的機會；在超自動化（hyperautomation）方面，也仍有非常大的機會去自動化那些人們以為已經自動化的事情——所以我實在看不出 ServiceNow 的成長議程有任何限制。

We are out of time for questions today. This will conclude today's conference call. Thank you for your participation. You may now disconnect.

由於時間關係，今天的提問到此結束。本次電話會議也將告一段落。感謝各位的參與。您現在可以掛線。