ServiceNow, Inc. (NOW) 2020 Q2 法說會逐字稿

Ladies and gentlemen, thank you for standing by and welcome to the Q2 2020 ServiceNow Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)

各位女士、先生，感謝您稍候，歡迎參加 ServiceNow 2020 年第二季財報電話會議。(接線員指示) 請注意，今天的會議將被錄音。(接線員指示)

I would now like to hand the conference over to your speaker today, Ms. Lisa Banks, Vice President of Finance. Thank you. Please go ahead, ma'am.

現在我想將會議交給今天的發言人，財務副總裁 Lisa Banks 女士。謝謝。女士，請開始。

Good afternoon, and thank you for joining us for ServiceNow's Second Quarter 2020 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 second quarter 2020 financial results and discuss our financial guidance for the third quarter of 2020 and full year 2020.

各位下午好，感謝您參加 ServiceNow 2020 年第二季財報電話會議。與我一同出席的有：總裁兼執行長 Bill McDermott，以及財務長 Gina Mastantuono。在今天的電話會議中，我們將回顧 2020 年第二季財務結果，並討論 2020 年第三季與 2020 全年的財務指引。

Before we get started, we want to emphasize that some of the information discussed on this conference call, particularly our guidance, is based on information as of July 29, 2020, 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. The forward-looking guidance we will provide today is based on our assumptions as to the macroeconomic environment in which we will be operating. Those assumptions are based on the facts as we know them today.

在開始之前，我們想強調，本次電話會議中討論的部分資訊，特別是我們的指引，是以 2020 年 7 月 29 日當時所掌握的資訊為基礎，並包含前瞻性陳述；此類陳述涉及風險、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的因素。我們今天提供的前瞻性指引，是基於我們對營運所處宏觀經濟環境的假設。這些假設係根據我們截至今日所知的事實。

Many of these assumptions relate to matters that are beyond our control and changing rapidly, including, but not limited to, the time frames for and severity of social distancing and other mitigation requirements; the continued impact of COVID-19 on our customers' purchasing decisions; and the length of our sales cycle, particularly for customers in certain industries. Significant changes in the future could cause us to modify our guidance higher or lower. Please refer to the press release and risk factors and MD&A in our SEC filings, including our 2019 10-K and our 10-Q that will be filed for Q2 2020, for information regarding such risks, uncertainties and assumptions that may cause actual results to differ materially from those set forth in such forward-looking statements.

其中許多假設與我們無法控制且變化迅速的事項相關，包括但不限於：社交距離及其他緩解措施要求的時間範圍與嚴重程度；COVID-19 對客戶採購決策的持續影響；以及我們的銷售週期長度，特別是特定產業的客戶。未來若出現重大變化，可能導致我們上調或下調指引。關於可能使實際結果與此等前瞻性陳述所載內容產生重大差異的風險、不確定性與假設，請參閱我們的新聞稿，以及我們向 SEC 提交文件中的風險因素與管理層討論與分析（MD&A），包括 2019 年 10-K，以及將就 2020 年第二季提交的 10-Q。

We'd also like to point out that the company reports non-GAAP results in addition to and not as a substitute for or superior to financial measures calculated in accordance with GAAP. All financial figures we will discuss today are non-GAAP except for revenues, net income and remaining performance obligations. To see the reconciliation between these non-GAAP and GAAP results, please refer to our press release filed earlier today, our investor presentation and for quarters previously filed press releases, all of which are posted at investors.servicenow.com. A replay of today's call will also be posted on the website.

我們也想指出，公司除依 GAAP 計算的財務衡量指標外，亦報告非 GAAP 結果；非 GAAP 結果並非用以取代或優於依 GAAP 計算的財務衡量指標。除營收、淨利與剩餘履約義務外，我們今天討論的所有財務數字皆為非 GAAP。如需查看非 GAAP 與 GAAP 結果之間的調節，請參閱我們今日稍早發布的新聞稿、投資人簡報，以及先前季度已提交的新聞稿；上述資料皆刊載於 investors.servicenow.com。今天電話會議的重播也將發布於該網站。

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, Lisa, and good afternoon, everyone. Welcome to our Q2 2020 earnings call. Let me begin by extending my hope that you and your loved ones are healthy and safe. This COVID environment continues to create challenges for many, and we continue to support our stakeholders, our employees and customers in every way possible.

謝謝你，Lisa，各位下午好。歡迎參加我們 2020 年第二季財報電話會議。首先，我希望您與您的親友都健康平安。這個 COVID 環境持續為許多人帶來挑戰，我們也持續以一切可能的方式支持我們的利害關係人、員工與客戶。

Before getting into our strong results, here are a few trends shaping the overarching environment for ServiceNow. This unprecedented environment is breaking physical supply chains. It is exposing the weak links in the old value chains, illuminating how companies struggle cross-functionally to deliver the workflows that create great experiences for customers, employees and partners. The world is experiencing a seismic shift from the obsolete business process evolution to the new workflow revolution.

在談到我們強勁的業績之前，先分享幾個正在形塑 ServiceNow 整體環境的趨勢。這個前所未有的環境正在破壞實體供應鏈。它也暴露了舊有價值鏈中的薄弱環節，凸顯企業在跨部門協作上面臨的困難，難以交付能為客戶、員工與合作夥伴創造卓越體驗的工作流程。世界正經歷從過時的業務流程演進，轉向全新工作流程革命的劇烈變遷。

CXOs are using the Now Platform to create new workflows or new value chains, transforming experiences across siloed systems and functions across the entire enterprise. ServiceNow is the strategic authority for workflow. We are a trusted C-suite innovator. We multiply the value of existing technology investments. We deliver exceptional time to value, and our customers understand the business continuity and resilience that the Now Platform enables.

各企業高階主管（CXO）正使用 Now Platform 建立新的工作流程或新的價值鏈，跨越整個企業中各自為政的系統與職能，轉型各種體驗。ServiceNow 是工作流程領域的策略權威。我們是值得信賴的 C 級創新夥伴。我們放大既有技術投資的價值。我們提供卓越的價值實現速度（time to value），而客戶也理解 Now Platform 所帶來的業務連續性與韌性。

Driven by these factors and many others, we couldn't be prouder of our very strong Q2 performance. We beat expectations, beating consensus and guidance and became a $4 billion run rate cloud company. We're raising our top line and operating and free cash flow margin guidance for the full year 2020, which Gina will provide more detail on shortly.

在這些因素及其他多項因素的推動下，我們對第二季非常強勁的表現深感自豪。我們超越預期，超越市場共識與公司指引，並成為年化營收運行率達 40 億美元的雲端公司。我們上調 2020 全年的營收、營運利潤率與自由現金流利潤率指引，Gina 稍後將提供更多細節。

We are delivering Safe Workplace product innovation in 2-week cycles, helping our customers succeed in keeping their employees healthy and safe in these unprecedented times. ServiceNow is a growth company. We are becoming even stronger on our journey to $10 billion in revenue and beyond. We remain totally focused on our ambition to be the defining enterprise software company of the 21st century.

我們以每兩週一個週期推出 Safe Workplace 產品創新，協助客戶在這些前所未有的時期，成功維持員工健康與安全。ServiceNow 是一家成長型公司。在邁向 100 億美元營收及更高目標的旅程中，我們正變得更加強大。我們仍全力聚焦於我們的抱負：成為 21 世紀具代表性的企業軟體公司。

Let me share some additional perspective on how we are supporting customers. CEOs and management teams are focused on protecting revenue, improving productivity and ensuring business resiliency. This has turned digital transformation into a business imperative across all industries. ServiceNow is on the front lines of getting companies reopened. We are helping employees get back to the workplace safely.

我再補充一些我們如何支持客戶的觀點。執行長與管理團隊正專注於保護營收、提升生產力並確保業務韌性。這使得數位轉型成為各行各業的商業必需。ServiceNow 正站在協助企業重新開放營運的第一線。我們正在協助員工安全地回到工作場所。

In May, we launched our Safe Workplace application suite and dashboard. Our engineering teams continue to deliver product innovations every 2 weeks. These are real products with an architecture that makes it easy to connect employee health data to their employee badges to ensure safety and security in the workplace. More than 550 organizations worldwide have downloaded our Safe Workplace suite. Companies such as Uber, Coca-Cola European Partners and BankUnited are using the apps and dashboard to return to the workplace safely.

在 5 月，我們推出了 Safe Workplace 應用程式套件與儀表板。我們的工程團隊持續每兩週交付產品創新。這些是真正的產品，其架構可讓員工健康資料輕鬆連結至員工識別證（badge），以確保工作場所的安全與保全。全球已有超過 550 家組織下載我們的 Safe Workplace 套件。Uber、Coca-Cola European Partners 與 BankUnited 等公司正使用這些應用程式與儀表板，以安全地返回工作場所。

This is the power of the Now Platform, the ability to move fast, be agile, solve problems quickly with low-code, no-code app development, create new workflows that deliver great experiences. We're helping our customers solve for once-in-a-generation challenges even as they capitalize on the opportunities of digital transformation. Because we offer one platform, one data model and one architecture, customers see the Now Platform as a smarter way to workflow.

這就是 Now Platform 的力量：能夠快速行動、保持敏捷，透過低程式碼、無程式碼的應用開發快速解決問題，建立可帶來卓越體驗的新工作流程。我們正協助客戶在把握數位轉型機會的同時，解決這種一代人才會遇到一次的挑戰。由於我們提供單一平台、單一資料模型與單一架構，客戶將 Now Platform 視為更聰明的工作流程方式。

Gina will share our full financial results with you, but here are some highlights from another quarter in which ServiceNow outperformed. Despite the COVID headwinds, we closed 40 deals greater than $1 million in ACV this quarter. We now have 964 customers paying us more than $1 million ACV annually. Our linearity was strong. Our renewal rate remains best in class at 97%, demonstrating ServiceNow resilience. Q2 deals underscore the strength of our product portfolio. 18 of our top 20 deals included 3 or more products. Customer examples include Equifax, the Commonwealth of Pennsylvania and the state of California.

Gina 將與各位分享我們完整的財務結果，但以下是 ServiceNow 再次表現優於預期的一季中的一些重點。儘管面臨 COVID 的逆風，本季我們完成了 40 筆 ACV 超過 100 萬美元的交易。目前我們有 964 家客戶每年支付給我們超過 100 萬美元的 ACV。我們的線性（linearity）表現強勁。我們的續約率仍維持同業最佳水準 97%，展現 ServiceNow 的韌性。第二季的交易凸顯我們產品組合的實力。我們前 20 大交易中有 18 筆包含 3 項或以上產品。客戶案例包括 Equifax、賓夕法尼亞州政府（Commonwealth of Pennsylvania）以及加州州政府。

Our core business remains ever strong with continued momentum in ITSM Pro and growth in risk and security, especially as enterprises focus on business continuity. ITSM Pro led 8 of the 10 ITSM deals, delivering customers' increased automation and operational resiliency. ITSM was included in 17 of the top 20 deals. 15 of the top 20 deals also included security. We did our largest-ever risk deal with Providence Health & Services, which has 51 hospitals, 121,000 employees and 800 non-acute facilities. As a heavily regulated business, Providence is partnering with ServiceNow to manage risk and improve productivity across their business.

我們的核心業務依然非常強勁，ITSM Pro 持續保持動能，風險與安全業務亦持續成長，尤其在企業聚焦於業務持續性之際更為明顯。ITSM Pro 主導了 10 筆 ITSM 交易中的 8 筆，為客戶帶來更高的自動化與營運韌性。在前 20 大交易中，有 17 筆包含 ITSM。前 20 大交易中亦有 15 筆包含安全。我們與 Providence Health & Services 完成了史上最大的一筆風險交易；該機構擁有 51 家醫院、121,000 名員工以及 800 個非急性照護設施。作為高度受監管的業務，Providence 正與 ServiceNow 合作，以管理風險並提升其全業務範圍的生產力。

Employee experience is more relevant than ever. Our HR business now continues to be strong with over 750 customers. In Q2, we had 8 deals that were greater than $1 million. For example, the Commonwealth of Pennsylvania is using ServiceNow to improve efficiency of their HR shared services and to increase employee engagement. They are enhancing employee communications to support their telework initiative. Goldman Sachs, a long-time ServiceNow ITSM customer, became the new HR customer in Q2. They are using our HR products to provide a more consistent employee experience and to drive cost savings.

員工體驗比以往任何時候都更為重要。我們的人資業務持續強勁，目前客戶已超過 750 家。在第二季，我們有 8 筆交易金額超過 100 萬美元。例如，賓夕法尼亞州政府正使用 ServiceNow 來提升其人資共享服務的效率並提高員工參與度。他們正在強化員工溝通，以支持其遠距辦公計畫。高盛（Goldman Sachs）作為長期的 ServiceNow ITSM 客戶，在第二季成為新的人資客戶。他們使用我們的人資產品，以提供更一致的員工體驗並推動成本節省。

Creating the best customer experiences and rapidly scaling digital services matter now more than ever. This is driving momentum in our customer service management business. We have more than 50 customers spending more than $1 million in ACV annually. We are delivering great consumer-grade customer experiences powered by industry-specific workflows.

打造最佳客戶體驗並快速擴展數位服務，比以往任何時候都更為重要。這正推動我們客戶服務管理業務的動能。我們有超過 50 家客戶，其年度 ACV 超過 100 萬美元。我們透過產業專屬工作流程，提供卓越、具消費者等級的客戶體驗。

Our Zoom partnership is a great customer example. Zoom's usage rocketed 30x in 4 months. 30x increase. They're now up to 300 million daily meeting participants. ServiceNow CSM solution is enabling Zoom to scale its customer service operations, providing critical communication capabilities for its rapidly expanding global community. CSM also provides proactive case management and personalized self-service options to help Zoom manage the influx of customer requests. We're proud that Zoom chose CSM and the Now Platform to help manage its exponential growth. Zoom also is using our AIOps capabilities to enable its new hardware-as-a-service business model. Thank you, Zoom.

我們與 Zoom 的合作夥伴關係是一個很好的客戶案例。Zoom 的使用量在 4 個月內暴增 30 倍。增加 30 倍。他們目前每日會議參與者已達 3 億人。ServiceNow 的 CSM 解決方案正協助 Zoom 擴展其客戶服務營運，為其快速擴張的全球社群提供關鍵的溝通能力。CSM 也提供主動式案件管理與個人化自助服務選項，協助 Zoom 應對大量湧入的客戶請求。我們很自豪 Zoom 選擇 CSM 與 Now Platform 來協助管理其指數型成長。Zoom 也正在使用我們的 AIOps 能力，以支援其新的「硬體即服務」商業模式。謝謝你，Zoom。

Underlying every one of our products is the Now Platform, the platform of platforms. Let me share some examples of how the Now Platform and products translated into strategic customer wins this quarter. A great example is the U.S. State Department. They use the Now Platform to create a dozen apps in just 3 weeks, tracking COVID requirements for every country on the planet to keep employees traveling safely.

支撐我們每一項產品的基礎是 Now Platform——平台中的平台。讓我分享一些例子，說明 Now Platform 與產品如何在本季轉化為策略性的客戶勝利。一個很好的例子是美國國務院。他們使用 Now Platform 在短短 3 週內建立了十多個應用程式，追蹤全球各國的 COVID 規定，以確保員工出差旅行的安全。

With JPMorgan, we closed our largest IT business management and our largest DevOps deal ever. As they consolidate their ITSM, they are improving their employees' experiences, leveraging advanced workflows and intelligent automation. We're honored that JPMorgan Chase selected the Now Platform to drive their digital transformation, creating great employee experiences and increasing productivity.

與摩根大通（JPMorgan）合作，我們完成了史上最大的一筆 IT 業務管理交易，以及史上最大的一筆 DevOps 交易。在他們整合 ITSM 的同時，正透過先進工作流程與智慧自動化來改善員工體驗。我們很榮幸摩根大通選擇 Now Platform 來推動其數位轉型，打造卓越的員工體驗並提升生產力。

Fiserv, a global fintech leader, recently completed a merger and needed to consolidate systems and processes to gain greater visibility of their assets using the Now Platform, they can now gain visibility and insight into the newly combined infrastructure and their emerging dependencies. This reduces time to resolution, improves customer experiences and reduces OpEx, all while proactively providing better services to their customers.

Fiserv 作為全球金融科技領導者，近期完成併購後需要整合系統與流程，以透過 Now Platform 更清楚掌握其資產；現在他們能夠看見並洞察新合併後的基礎架構及其新出現的相依關係。這可縮短問題解決時間、改善客戶體驗並降低營運支出（OpEx），同時以更主動的方式為其客戶提供更好的服務。

We're also now working with the state of Montana to automate their citizen workflows. With COVID, they needed to evolve face-to-face citizen interactions to remote services. They also wanted to reduce the cost and complexity of asset management across multiple agencies while maintaining data privacy between all of them. It was our ability to provide a single enterprise platform to service all of Montana's agencies that earned us their trust and their business.

我們也正與蒙大拿州政府合作，自動化其公民工作流程。在 COVID 之下，他們需要將面對面的公民互動演進為遠端服務。他們也希望在維持各機構間資料隱私的同時，降低跨多個機構的資產管理成本與複雜度。正是我們能提供單一企業級平台來服務蒙大拿州所有機構的能力，贏得了他們的信任與業務。

ServiceNow is partnering with the world's largest brands. Disney is another example of how the Now Platform is driving business model innovation. Dan Shmitt, VP and CIO of Disney Streaming Services, joined me as part of my keynote during our Knowledge20 experience. With the support of ServiceNow's CSM workflows, Disney+ quickly grew to more than 55 million subscribers in just a few months after launch. During the Knowledge keynote, Dan shared how ServiceNow provided Disney, and I quote, "an extremely flexible and extensible platform that allowed them to develop a best-in-breed customer help center and best-in-breed tooling for their agents to support their customers around the world."

ServiceNow 正與全球最大的品牌合作。迪士尼（Disney）是 Now Platform 推動商業模式創新的另一個例子。迪士尼串流服務（Disney Streaming Services）的副總裁兼 CIO Dan Shmitt，在我們 Knowledge20 體驗期間的主題演講中與我同台。在 ServiceNow 的 CSM 工作流程支援下，Disney+ 在上線後短短幾個月內迅速成長至超過 5,500 萬名訂閱者。在 Knowledge 主題演講中，Dan 分享了 ServiceNow 如何為迪士尼提供——引用他的話——「一個極具彈性且可延展的平台，使他們得以打造同級最佳的客戶協助中心，以及同級最佳的代理人工具，來支援全球各地的客戶。」

These customer stories and so many others are why the industry now understands the magic of the Now Platform and the strength of our core business. Top IT analyst firms have named us a leader in 3 new markets to ServiceNow: CSM, DevOps and software asset management. We also were honored to be named the overall Digital Innovation Award winner by Ventana Research.

這些客戶故事以及更多案例，正是為何業界如今理解 Now Platform 的魔力與我們核心業務的實力。頂尖 IT 分析機構已在 ServiceNow 的 3 個新市場中將我們評為領導者：CSM、DevOps 與軟體資產管理。我們也很榮幸獲 Ventana Research 評選為「整體數位創新獎」得主。

Every company has had to pivot in this new environment to continue to engage customers in meaningful ways. I am incredibly proud of how our team quickly pivoted Knowledge from a 4-day physical event that was scheduled to be held in Orlando to a 6-week digital experience that brought the ServiceNow community together worldwide. And listen to this. We reached almost twice as many people globally this year than we did at Knowledge 2019. We also delivered more than 820 hours of content, including 1,100 customer-led sessions and breakouts, building a strong pipeline.

在這個新環境下，每家公司都必須轉型，以持續以有意義的方式與客戶互動。我對我們團隊能迅速將 Knowledge 從原定於奧蘭多舉辦、為期 4 天的實體活動，轉為為期 6 週的數位體驗，並將全球 ServiceNow 社群凝聚在一起，感到無比自豪。而且請聽這個。今年我們在全球觸及的人數，幾乎是 Knowledge 2019 的兩倍。我們也交付了超過 820 小時的內容，包括 1,100 場由客戶主導的議程與分組會議，建立了強勁的商機管道。

As our traction continues to grow, our ecosystem continues to strengthen. Our partners play a critical role in accelerating customers' digital transformation. For example, we recently announced an expanded alliance with Deloitte to help customers accelerate their HR service delivery efforts and to provide employees with exceptional digital experiences anywhere.

隨著我們的成長動能持續提升，我們的生態系也持續強化。合作夥伴在加速客戶數位轉型方面扮演關鍵角色。例如，我們近期宣布與 Deloitte 擴大策略聯盟，以協助客戶加速其 HR 服務交付工作，並在任何地方為員工提供卓越的數位體驗。

With customer loyalty and our growing ecosystem, we are increasingly part of digital transformation conversations that give us absolute confidence in our business model and our strategic relevance with customers. Our innovation is inspired by solving the needs of customers across geography, industry and persona. As we shape the workflow revolution, our best ideas are ahead of us. Our overarching focus is clear: innovating for customers as we scale ServiceNow to $10 billion and beyond.

憑藉客戶忠誠度與不斷成長的生態系，我們愈來愈常參與數位轉型的討論，這讓我們對自身商業模式以及在客戶端的策略相關性充滿信心。我們的創新靈感來自於解決跨地域、跨產業與跨角色的客戶需求。在我們塑造工作流程革命之際，最好的想法仍在前方。我們的總體重點很清楚：在我們將 ServiceNow 擴展至 100 億美元及更高規模的過程中，持續為客戶創新。

Our strong management team and our 12,000 employees will enable us to achieve our bold ambitions. To continue driving our growth today, we are announcing the next evolution of our already outstanding go-to-market organization. We are leveraging our tried, true and proven executive talent to continue our strong momentum.

我們強大的管理團隊與 12,000 名員工將使我們能夠實現大膽的願景。為了持續推動當前的成長，我們宣布將我們本已卓越的市場推進（go-to-market）組織進化到下一個階段。我們將運用久經考驗、真實可靠且已被證明的高階人才，延續我們的強勁動能。

Effective immediately, Kevin Haverty is named Chief Revenue Officer as he continues leading our global sales organization. Kevin has been with the company for 9 years and has been leading our sales organization for the last 6 years. He's owned the number the whole time.

即日起，Kevin Haverty 獲任命為首席營收長（Chief Revenue Officer），並將持續領導我們的全球銷售組織。Kevin 已在公司任職 9 年，並在過去 6 年領導我們的銷售組織。他一直以來都扛起業績目標。

Lara Caimi is named to the new role of Chief Customer and Partner Officer, leading all customer success programs and the development of strategic partner activities. She joined ServiceNow in 2017 as Chief Strategy Officer and has led 9 acquisitions. They will both report directly to me. I'm really excited.

Lara Caimi 獲任命為新設職位首席客戶與合作夥伴長（Chief Customer and Partner Officer），負責領導所有客戶成功計畫以及策略合作夥伴活動的發展。她於 2017 年加入 ServiceNow 擔任首席策略長，並主導了 9 起併購。他們兩位都將直接向我匯報。我真的非常興奮。

We also recently welcomed Paul Smith as Senior Vice President and General Manager of our EMEA business, which, by the way, just reached a $1 billion revenue run rate. Joining us from Salesforce, he has a track record for triple-digit growth. Paul is a great example of how ServiceNow is attracting premier talent worldwide. We are fast becoming the employer of choice for our industry's best talent.

我們近期也迎來 Paul Smith，擔任我們 EMEA 業務的資深副總裁兼總經理；順帶一提，該業務剛達到 10 億美元的營收年化運行率。他從 Salesforce 加入我們，擁有三位數成長的實績。Paul 是 ServiceNow 正在全球吸引頂尖人才的絕佳例證。我們正快速成為本產業頂尖人才的首選雇主。

Before closing, I want to take a moment to honor David Schneider. David has decided to retire at the end of 2020 after a stellar 9 years at ServiceNow and more than 35 years in the industry. David truly has earned the right to step away and begin a new personal chapter in his life. David epitomizes our purpose and values. It has been a tremendous honor to work so closely with such a beloved leader. He is ServiceNow family. He always will be, and I wish him the very best in his retirement. David will remain President Emeritus and an adviser to me until the end of the year.

在結束之前，我想花點時間向 David Schneider 致敬。David 已決定於 2020 年底退休；他在 ServiceNow 有著傑出的 9 年任期，並在產業累積超過 35 年資歷。David 確實已贏得離開職場、開啟人生新篇章的權利。David 完美體現了我們的使命與價值觀。能與這位備受愛戴的領導者如此緊密共事，是莫大的榮幸。他是 ServiceNow 的家人。永遠都是；我祝福他退休生活一切順心。David 將以榮譽總裁（President Emeritus）身分留任，並擔任我的顧問直到年底。

In summary, we are ServiceNow strong. And extraordinary times are born extraordinary opportunities. In this once-in-a-lifetime moment, we are at the top of our game. Our people are rising up to seize the opportunities before us. I'm incredibly proud of our culture, our focus, discipline and execution. ServiceNow people have never been more engaged, more focused one serving the enormous names of our customers.

總結來說，我們的 ServiceNow 依然強勁。而非凡的時代孕育非凡的機會。在這個一生僅有一次的時刻，我們正處於最佳狀態。我們的同仁正挺身而出，把握眼前的機會。我為我們的文化、專注、紀律與執行力感到無比自豪。ServiceNow 的同仁從未如此投入、如此專注於服務我們客戶的龐大知名企業。

Our partners are with us. The ServiceNow ecosystem is truly thriving. Our brand continues to resonate, and we are creating greater awareness and relevance with the C-suite. I constantly hear how people deeply connect to our brand and the humanity of our purpose.

我們的合作夥伴與我們同在。ServiceNow 生態系統確實蓬勃發展。我們的品牌持續引起共鳴，並在高階主管層（C-suite）中建立更高的認知度與相關性。我經常聽到人們如何深刻連結於我們的品牌，以及我們使命所展現的人性關懷。

Ladies and gentlemen, ServiceNow is special. We're leading the workflow revolution, which leads the future of our business. Now work flows on the Now Platform. The opportunity has never been greater. We will fulfill our purpose to make the world of work, work better for people. We are hungry, we are humble, and we're taking nothing for granted. We're on the move to our destiny to become the defining enterprise software company of the 21st century.

各位女士先生，ServiceNow 很特別。我們正引領工作流程革命，而這將引領我們業務的未來。如今，工作在 Now Platform 上流動。機會從未如此巨大。我們將實現使命，讓工作世界對人們而言運作得更好。我們渴望成功、我們保持謙遜，且不把任何事視為理所當然。我們正邁向命定目標：成為 21 世紀具代表性的企業軟體公司。

Thank you very much for your time and attention today. I look forward to your questions. Now I'll turn the call over to Gina. Gina?

非常感謝各位今天撥冗聆聽。我期待各位的提問。接下來我把電話會議交給 Gina。Gina？

Thank you, Bill. Q2 was another exceptionally strong quarter for ServiceNow despite the macroeconomic headwinds created by COVID-19. We exceeded the high end of our subscription revenues and subscription billings guidance while continuing to drive margin expansion and very healthy free cash flow.

謝謝你，Bill。儘管 COVID-19 帶來總體經濟逆風，第二季（Q2）對 ServiceNow 而言仍是另一個格外強勁的季度。我們的訂閱營收與訂閱帳單金額（subscription billings）均超越指引區間上緣，同時持續推動利潤率擴張並維持非常健康的自由現金流。

Q2 subscription revenues were $1.016 billion, representing 32% year-over-year constant currency growth, making ServiceNow a $4 billion revenue run rate company, a milestone on our way towards $10 billion. Q2 subscription billings were $1.018 billion, representing 26% year-over-year adjusted growth, driven by solid execution from our sales team.

第二季訂閱營收為 10.16 億美元，按固定匯率計算年增 32%，使 ServiceNow 成為年化營收運行率達 40 億美元的公司，這是我們邁向 100 億美元目標的重要里程碑。第二季訂閱帳單金額為 10.18 億美元，年增 26%（調整後），主要受惠於我們銷售團隊的扎實執行。

Remaining performance obligations, or RPO, ended the quarter at approximately $7 billion, representing 31% year-over-year constant currency growth. And current RPO was approximately $3.5 billion, representing 32% year-over-year constant currency growth. Top line strength in the quarter was driven by continued expansion of our existing customers. Our best-in-class renewal rate remained at 97%, demonstrating the resilience of our business as the Now Platform remains a mission-critical part of our customers' operations.

剩餘履約義務（Remaining Performance Obligations，RPO）於季末約為 70 億美元，按固定匯率計算年增 31%。而當期 RPO 約為 35 億美元，按固定匯率計算年增 32%。本季營收端的強勁表現，主要來自既有客戶的持續擴張。我們同級最佳的續約率維持在 97%，顯示我們業務的韌性；Now Platform 仍是客戶營運中不可或缺的關鍵任務平台。

Our sales teams continue to win large deals in the quarter. As Bill mentioned, we closed 40 deals greater than $1 million in ACV, an increase from Q1. What's more, the average size of those deals was bigger than in any quarter over the past year. And Q2 was our first quarter in which we closed 2 deals over $10 million, all during a challenging time for our customers.

我們的銷售團隊在本季持續拿下大型交易。如 Bill 所提到，我們完成了 40 筆 ACV 超過 100 萬美元的交易，較第一季增加。此外，這些交易的平均規模也大於過去一年任何一季。而第二季也是我們首次在單季完成 2 筆超過 1,000 萬美元的交易，且全部發生在客戶面臨挑戰的時期。

Turning to profitability. Q2 operating margin was 28%, up over 900 basis points year-over-year, driven by our subscription revenue outperformance as well as lower expenses due to COVID, including approximately 2 points of savings of Knowledge 2020 moving to a digital-only format. Our free cash flow margin was 24%, up 100 basis points year-over-year, driven by our strong operating margin expansion, partially offset by higher CapEx and an increase in DSOs. Together, these results demonstrate the strength of our business model and our ability to drive a balance of growth and profit.

接著談獲利能力。第二季營業利益率為 28%，年增超過 900 個基點，主要受惠於訂閱營收優於預期，以及因 COVID 而降低的費用，其中包括 Knowledge 2020 轉為純數位形式所帶來約 2 個百分點的節省。我們的自由現金流利潤率為 24%，年增 100 個基點，主要由強勁的營業利益率擴張帶動，但部分被較高的資本支出（CapEx）以及應收帳款週轉天數（DSO）上升所抵銷。綜合而言，這些結果展現了我們商業模式的強度，以及在成長與獲利之間取得平衡的能力。

Before I move to guidance, I want to give a brief update on how COVID-19 is impacting our business. The highly affected industries we outlined in Q1, which represent about 20% of our business and include areas such as transportation, hospitality, retail and energy, continue to hold up well in Q2 as renewals of existing customers remain strong. We also closed big deals in spite of the macro headwinds these enterprises face. Now more than ever, they recognize the importance of digital transformation and the quick time to value ServiceNow can deliver. We closed 5 deals over $1 million from verticals including oil and gas, transportation and health care. We also won a large security deal with a U.S.-based multinational hotel chain, a customer in one of the most impacted industries.

在我談指引之前，我想簡要更新 COVID-19 對我們業務的影響。我們在第一季所列出的高度受影響產業約占我們業務的 20%，包括運輸、旅宿、零售與能源等領域；在第二季，隨著既有客戶續約仍然強勁，這些產業的表現持續穩健。儘管這些企業面臨總體逆風，我們仍完成了大型交易。如今比以往任何時候，他們更能體認數位轉型的重要性，以及 ServiceNow 能夠帶來的快速價值實現。我們在石油與天然氣、運輸與醫療保健等垂直領域，完成了 5 筆超過 100 萬美元的交易。我們也與一家美國跨國連鎖飯店集團（屬於受衝擊最嚴重的產業之一）拿下了一筆大型資安交易。

As Bill mentioned, the workflow revolution is underway, and we've adapted our go-to-market playbook to focus on the things that matter most to our customers. When speaking with customers, they recognize the strategic relevance of now workflows on the Now Platform, one platform, one data model and one architecture. This has kept our pipeline generation very healthy. Our coverage ratio today is better than at the same time last year, giving us high confidence in the second half of the year.

如 Bill 所提到，工作流程革命正在進行中，而我們也調整了市場進入（go-to-market）作戰手冊，聚焦於對客戶最重要的事項。在與客戶交流時，他們認同 Now Platform 上的 Now 工作流程具備策略相關性：一個平台、一個資料模型與一套架構。這使我們的商機管道（pipeline）生成維持非常健康。我們目前的覆蓋比率（coverage ratio）優於去年同期，讓我們對下半年充滿信心。

The great thing about our business model is that it is resilient and predictable. We have a robust backlog, and we generate 80% of our new business from existing customers that understand ServiceNow is mission-critical. With these attributes and our visibility into the pipeline, we feel confident executing our plans.

我們商業模式最棒的一點在於其具備韌性且可預測。我們擁有強勁的待履行訂單（backlog），而且我們80%的新業務來自既有客戶，這些客戶了解ServiceNow是任務關鍵（mission-critical）。憑藉這些特質以及我們對銷售管線的可視性，我們有信心執行我們的計畫。

As a result, we are raising guidance for the full year 2020. We are raising our subscription revenues range to between $4.185 billion and $4.2 billion, representing approximately 29% to 30% year-over-year constant currency growth. This range reflects $18 million tailwind from foreign exchange versus our previous guidance. We are raising our subscription billings range to between $4.66 billion and $4.7 billion, representing 24% to 25% year-over-year adjusted growth. This range reflects a $22 million tailwind from foreign exchange versus our previous guidance.

因此，我們上調2020年全年指引。我們將訂閱營收區間上調至41.85億至42.0億美元，按固定匯率計算，約為年增29%至30%。此區間反映相較於先前指引，外匯帶來1,800萬美元的順風。我們將訂閱帳單（subscription billings）區間上調至46.6億至47.0億美元，約為年增24%至25%的調整後成長。此區間反映相較於先前指引，外匯帶來2,200萬美元的順風。

We continue to expect 2020 subscription gross margin of 86%, and we are raising our full year 2020 operating margin from 23% to 24%. This reflects additional savings from travel expenses and the transition of our Q4 Now at Work events moving to digital experiences. Many of our learnings from working remotely will have lasting effects on our overall efficiency, giving us the agility to redeploy savings elsewhere.

我們仍預期2020年訂閱毛利率為86%，並將2020年全年營業利益率由23%上調至24%。這反映了差旅費用的額外節省，以及我們第四季Now at Work活動轉為數位體驗的轉型。我們從遠端工作中獲得的許多經驗將對整體效率產生長期影響，使我們能更靈活地將節省的成本重新部署到其他領域。

Importantly, we are a growth company with a lot of runway ahead of us. As we continue to feel confident about the long-term opportunity and path to $10 billion in revenue and beyond, we will continue to invest in strategic areas such as R&D and go to market. As always, we will be disciplined as we evaluate our investments to ensure we generate the greatest ROI possible.

重要的是，我們是一家成長型公司，前方仍有很長的跑道。在我們持續對長期機會以及邁向100億美元以上營收的路徑充滿信心之際，我們將持續投資於研發與市場拓展等策略領域。一如既往，我們在評估投資時將保持紀律，以確保產生最高的投資報酬率（ROI）。

Turning to free cash flow. We are raising our full year 2020 free cash flow margin to 29.5%, reflecting the increase in our operating margin, partially offset by a decrease in collections due to expected DSO increases. We remain committed to helping our customers manage through this challenging time. And when required, we've taken measures to provide greater payment flexibility.

接著談自由現金流。我們將2020年全年自由現金流利潤率上調至29.5%，反映營業利益率提升，但部分被因預期DSO上升而導致收款下降所抵銷。我們仍致力於協助客戶度過這段充滿挑戰的時期。在必要時，我們也採取措施提供更大的付款彈性。

Turning to Q3. We expect subscription revenues between $1.055 billion and $1.06 billion, representing 26% to 27% year-over-year constant currency growth. We expect subscription billings between $995 million and $1.015 billion, representing 16% to 18% year-over-year adjusted growth.

接著談第三季。我們預期訂閱營收介於10.55億至10.60億美元，按固定匯率計算為年增26%至27%。我們預期訂閱帳單介於9.95億至10.15億美元，為年增16%至18%的調整後成長。

I would note here that the seasonality of our billings has changed this year due to shifts in the timing of renewals. About $18 million of billings was pulled into Q2 from Q3, and we also expect a proportion of Q3's historical invoicing mix to shift into Q4. I want to be clear, the change in billing seasonality reflects the timing of invoices only, not any changes in the trends of our business. As customers expand their purchases of ServiceNow's products, they often realign the new contract to co-terminate with existing contracts. These changes only affect the timing of our billings and do not impact our revenue expectations.

我在此要指出，由於續約時點的變動，我們今年的帳單季節性已經改變。約有1,800萬美元的帳單從第三季提前到第二季，我們也預期第三季歷史上的部分開立發票組合將轉移到第四季。我想說清楚，帳單季節性的變化僅反映發票時點，並非我們業務趨勢有任何改變。當客戶擴大採購ServiceNow的產品時，他們常會將新合約重新對齊，使其與既有合約同日到期（co-terminate）。這些變動只會影響我們帳單的時點，不會影響我們對營收的預期。

Moving on to profitability. For Q3, we expect a 22% operating margin, which includes some spend that shifted from Q2 to Q3 and increased investment as we continue to develop pipeline based on the opportunities we are seeing. As a management team, we were very prudent about marketing spend entering into our full first COVID quarter in Q2. However, the outstanding execution we've seen from the team, including the success of Knowledge 2020 as a digital event, has demonstrated our ability to get great returns on our investments.

接著談獲利能力。第三季我們預期營業利益率為22%，其中包含部分從第二季移轉到第三季的支出，以及因我們持續根據所見機會來開發銷售管線而增加的投資。作為管理團隊，在第二季進入我們第一個完整的COVID季度時，我們對行銷支出非常審慎。然而，我們看到團隊出色的執行力，包括Knowledge 2020作為數位活動的成功，已證明我們能從投資中獲得很好的回報。

Finally, we expect third quarter and full year 2020 diluted weighted average outstanding shares of 199 million and 198 million, respectively.

最後，我們預期2020年第三季與全年稀釋後加權平均流通股數分別為1.99億股與1.98億股。

In summary, as we continue to navigate through this unprecedented operating environment, a few things have become clear. Digital transformation is accelerating as companies react to unexpected disruptions and reimagine the future of their business. ServiceNow is the strategic workflow authority at the epicenter of this digital transformation. Customers need us more now than ever, and the organization is galvanized to deliver.

總結來說，當我們持續在這個前所未有的營運環境中前行時，有幾點已變得明確。隨著企業因應突如其來的干擾並重新想像其業務的未來，數位轉型正在加速。ServiceNow是這場數位轉型核心的策略性工作流程權威。客戶現在比以往任何時候都更需要我們，而整個組織也被凝聚起來全力交付。

The power of the Now Platform has become self-evident to customers. Our customers are innovating on the Now Platform to meet their crisis management, business continuity and productivity needs. We have a world-class management team and the right product portfolio to weather the short-term COVID challenges. We will continue to help our customers evolve, and we'll emerge from this crisis an even stronger and better company.

Now Platform的力量對客戶而言已不言自明。我們的客戶正在Now Platform上創新，以滿足其危機管理、營運持續與生產力需求。我們擁有世界級的管理團隊與合適的產品組合，足以度過短期的COVID挑戰。我們將持續協助客戶演進，並將在這場危機後以更強大、更好的公司姿態走出來。

We're in a very strong financial position, exiting Q2 with $7 billion in RPO and a strong net cash position of $2.4 billion. We have never been prouder of our employees and their continued focus on serving our customers, partners and communities. Our hungry and humble culture is stronger than ever, and we can't thank our employees enough for their hard work and dedication.

我們的財務狀況非常強健，第二季結束時RPO達70億美元，且淨現金部位強勁，為24億美元。我們從未像現在這樣為員工感到自豪，他們持續專注於服務我們的客戶、合作夥伴與社群。我們「飢渴且謙遜」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。

With that, operator, we'd like to now turn over the call for questions.

接下來，接線員，我們想把電話交回去進行提問。

(Operator Instructions) And your first question is from Kash Rangan of Bank of America.

(接線員指示) 第一個問題來自美國銀行（Bank of America）的Kash Rangan。

[One] for you, Gina and one for you, Bill, if I could. Gina, can you just explain a little bit about this on the seasonality of billings? So this is something that ServiceNow has not typically experienced. To your point, your credit, clearly, the cRPO number is rock-solid. So is the subscription billings. Just if you could dig a little bit deeper into the emerging seasonality of billings, that would be great.

如果可以的話，我各有一個問題要問Gina和Bill。Gina，你能否稍微解釋一下帳單季節性這件事？這並不是ServiceNow過去通常會遇到的情況。如你所說、也值得肯定的是，顯然cRPO數字非常穩健。訂閱帳單也是如此。如果你能再更深入談談帳單季節性正在浮現的變化，那就太好了。

And Bill, a question for you. Once we come out of this pandemic, what does the demand picture look like for ServiceNow? Are we back to -- in some sense, some investors are concerned this might be pulling in accelerating spend because of the pandemic. But do you really agree with that? What does the shape of this post-pandemic demand picture look like for ServiceNow? Congratulations.

Bill，我也有一個問題要問你。當我們走出這場疫情之後，ServiceNow的需求樣貌會是什麼？某種程度上，有些投資人擔心疫情可能把支出加速、提前拉進來。但你真的同意這種看法嗎？疫情後ServiceNow需求曲線的形狀會是什麼樣子？恭喜。

Thanks, Kash. Sure. So the seasonality of our billings is changing a bit this year due to shifts in the timing of certain renewals. As I talked about in my script, some customers are realigning their new contracts for additional products to co-term with existing contracts. As a result, we expect a proportion of Q3 historical billings mix to now land in Q4. As I also previously mentioned, we saw about $18 million of billings shift out of Q3 and into Q2 due to the timing of renewals.

謝謝你，Kash。當然。因此，由於某些續約時點的變動，我們今年的帳單季節性確實有些改變。如我在講稿中提到的，有些客戶會將新增產品的新合約重新對齊，使其與既有合約同日到期（co-term）。因此，我們預期第三季歷史帳單組合中的一部分現在會落在第四季。另外如我先前也提到，因續約時點的關係，我們看到約1,800萬美元的帳單從第三季移出並轉入第二季。

If you add those points back to growth, you'll get a more normalized 20% plus, which puts us at the midpoint of the current consensus. So again, I want to note, these changes only affect the timing of billings and do not impact revenue expectations or business performance at all.

如果你把那些點數加回到成長率，你會得到較為常態化的 20% 以上，這使我們落在目前市場共識的中點。所以再次強調，這些變動只影響開立帳單的時點，完全不會影響營收預期或業務表現。

And Kash, thank you very much for your question and your very nice comments. Post-pandemic, ServiceNow gets even stronger. And the reason for that is our customers have less limitations around them and their businesses. So you should feel very bullish about our company, our $10 billion aspiration, way beyond that.

Kash，也非常感謝你的提問以及你非常好的評論。在疫情之後，ServiceNow 會變得更強。原因在於，我們的客戶在其自身及其業務周遭的限制更少了。所以你應該對我們公司、我們 100 億美元的願景，甚至遠超其上的目標，感到非常看多。

Here's what I see. The platform, the Now Platform is resonating everywhere. The ecosystem looks at it as a cross-platform integration engine because there are so many siloed systems out there from the 20th century system of record. We don't compete with them. We simply make them better. So they layer in the Now Platform and enable business operations to execute even without having to change and redo their systems of record. So that's a big tailwind, and the ecosystem all has multibillion plans around ServiceNow, and there'll even be very large tech companies that will declare that very soon.

以下是我的看法。這個平台，也就是 Now Platform，正在各處引起共鳴。生態系把它視為跨平台整合引擎，因為外面有太多源自 20 世紀的紀錄系統（system of record）所造成的孤島系統。我們不與它們競爭。我們只是讓它們變得更好。因此他們在其上疊加 Now Platform，讓業務營運得以執行，甚至不必更換或重做他們的紀錄系統。所以這是一股很大的順風，而整個生態系都圍繞 ServiceNow 制定了數十億美元規模的計畫，甚至會有非常大型的科技公司很快就會公開宣告這一點。

On ITSM Pro, we're only 15% penetrated, Kash, and that is absolutely a paradigm that will have 100% penetration.

在 ITSM Pro 方面，Kash，我們目前的滲透率只有 15%，而這絕對是一個最終會達到 100% 滲透的典範。

Employee experience, the simplicity of the employee experience has become not just a CHRO but a CEO imperative because the war for talent is only going to get greater, not less. Premium talent is everything. And we're doing just a great job in employee experience, and we make all the other ones that are already there look better. I see companies with one system of record per 1,000 employees very consistently. And with us, you just take one portal approach to simplify the whole scenario for the employees, especially with a hybrid future work environment, work from home, work from the office, work somewhere in between, we own that.

員工體驗方面，員工體驗的簡化已不只是 CHRO 的要求，更是 CEO 的當務之急，因為人才爭奪戰只會更激烈，不會減弱。頂尖人才就是一切。而我們在員工體驗上做得非常出色，並且讓所有既有的其他方案看起來更好。我看到企業非常一致地呈現：每 1,000 名員工就有一套紀錄系統。而有了我們，你只要採用單一入口（portal）的方式，就能為員工簡化整個情境；尤其在混合式的未來工作環境下，在家工作、在辦公室工作或介於兩者之間的工作方式，我們都能掌握。

And CSM, I mean, look at the Disney example. The Holy Grail has always been direct to consumer, where a great product company didn't have to split their money through different channels and different routes to market, where they could just go direct to their consumer. Look at Disney, how they innovated with Disney+. I think that example, when you think about virtual agents, you think about machine learning and AI, a platform to run your operations, that provides a work order in a workflow instantaneously where customers struggle with an Internet order. So they get the subscription. They win the customer and customer [happy] experience.

再來是 CSM，我是說，看看迪士尼的例子。所謂的「聖杯」一直都是直達消費者（direct to consumer）：一家優秀的產品公司不必透過不同通路、不同上市路徑去分拆其收入，而是可以直接面向消費者。看看迪士尼如何透過 Disney+ 進行創新。我認為那個例子，當你想到虛擬代理、想到機器學習與 AI、想到一個用來運行營運的平台，它能在客戶遇到網路訂單問題時，立即在工作流程中產生工單（work order）。因此他們完成訂閱。他們贏得客戶以及客戶（滿意的）體驗。

And then finally, when I think about CSM, it's the hugest TAM. So we're in it to win it. And I think Disney+ is perfect example of the bright future for the Now Platform.

最後，當我想到 CSM，它是最大的 TAM（總可服務市場）。所以我們要全力以赴、志在必得。而我認為 Disney+ 是 Now Platform 光明未來的完美例子。

And finally, look at this, Kash. You know this very well, low code, no code edge application. Our customers are building applications in hours and in a couple of days, deploying them to, in some cases, 1.5 million employees within 2 days. That's the kind of rapid prototyping innovation and development that has to be done, and the Now Platform gives them that. These are major transformations in the enterprise, and ServiceNow will be at the forefront of leading this initiative.

最後，Kash，看看這個。你很清楚：低程式碼、無程式碼的邊緣（edge）應用。我們的客戶在幾個小時、或一兩天內就能建立應用程式，並在某些情況下於 2 天內部署給 150 萬名員工使用。這就是必須完成的快速原型創新與開發，而 Now Platform 能提供他們這樣的能力。這些都是企業的重大轉型，而 ServiceNow 將站在領導這項倡議的最前線。

Your next question is from Walter Pritchard of Citi.

下一個問題來自花旗（Citi）的 Walter Pritchard。

I'm wondering on the ITSM side -- and ITSM Pro has been, I think, a success that maybe we didn't anticipate as much as it's been. I'm wondering where you are in terms of the installed base moving over to ITSM Pro. And how much longer do you see that as a sort of tailwind that you've seen it so far?

我想請教 ITSM 這一側——ITSM Pro 我認為是一項成功，可能比我們原先預期的還要成功。我想了解你們在既有安裝基礎（installed base）轉移到 ITSM Pro 的進展到哪裡了。以及你認為這股你們迄今所看到的順風，還會持續多久？

Thank you very much for the question, Walter. We're about 15% penetrated in ITSM Pro. And more than 8 out of 10 customers automatically choose it right out of the gates. So we still have the entire installed base to continue to spread our wings in. And what's really great about ITSM Pro, and all credit to CJ and our great engineering team, you're bringing now all the machine learning, the AI, the operational excellence that comes on the platform, and you start to get into the predictive world of business automation with ServiceNow.

非常感謝你的提問，Walter。我們在 ITSM Pro 的滲透率約為 15%。而且超過 10 個客戶中有 8 個，一開始就會自動選擇它。所以我們仍有整個既有安裝基礎可以持續拓展。而 ITSM Pro 真正很棒的一點——這要歸功於 CJ 與我們優秀的工程團隊——是你把機器學習、AI、以及平台上的營運卓越能力都帶進來，並開始透過 ServiceNow 進入可預測的業務自動化世界。

So that is going to be a huge tailwind for a long time for us. So what I really love about it is it opens up all the other conversations with the employee experience, customer service management, the edge applications and then even innovation on the Now Platform itself. So I believe you should feel very, very, very confident. And ITSM Pro and the pipeline is soaring.

因此，這將在很長一段時間內成為我們巨大的順風。我非常喜歡的是，它也開啟了所有其他對話：員工體驗、客戶服務管理、邊緣應用，甚至是 Now Platform 本身的創新。所以我相信你應該感到非常、非常、非常有信心。而 ITSM Pro 以及銷售管線正在飆升。

Your next question is from Brad Zelnick of Crédit Suisse.

下一個問題來自瑞士信貸（Crédit Suisse）的 Brad Zelnick。

Great. Congrats on the strong quarter. Bill, I recall when you joined ServiceNow, you assured us there'd be no interruption. And you've delivered just that, even in the face of COVID. But we're now seeing a transition in sales leadership at the midpoint of the year. The timing seems a little unusual. And I just wanted to understand how much of any of the billings timing that we're seeing from Q2, 3 and 4 might be related to any transition of roles. And what, if anything, might change in terms of go-to-market strategy with the new configuration?

很好。恭喜本季表現強勁。Bill，我記得你加入 ServiceNow 時，你向我們保證不會有任何中斷。而你也確實做到了，即便面對 COVID 也是如此。但我們現在看到銷售領導層在年中出現交接。這個時點看起來有點不尋常。我想了解，我們在第 2、3、4 季看到的任何帳單時點變化，有多少可能與職務交接有關。以及在新的配置下，市場進入（go-to-market）策略可能會有哪些改變（如果有的話）？

Brad, first of all, thank you very much for acknowledging that. I know a lot of people thought I was going to pull up the van with crews that I might have had in another company and start making big changes. I found a great management team here. John Donahoe did a great job, Frank Slootman before him, and Fred Luddy built an unbelievable company. And I'm proud to stand on the shoulder of those giants.

Brad，首先，非常感謝你對此的肯定。我知道很多人以為我會開著一台廂型車，帶著我在另一家公司可能用過的團隊，然後開始做出重大變革。但我在這裡找到了一個很棒的管理團隊。John Donahoe 做得非常好，他之前的 Frank Slootman 也是，而 Fred Luddy 創建了一家令人難以置信的公司。我很自豪能站在這些巨人的肩膀上。

And as it relates to me personally with this team, I'm not making any changes even now. So David Schneider is a great guy. Him and I have a wonderful friendship. And he's going to be with me all the way to the end of this year. So after 35 years, 9 at ServiceNow, he's had a stellar career, by the way, he's still winning. But he really wants to spend time with his family. He has an 8- and a 9-year-old, and 35 years on the road has been a lot. And he told me when I first met him that this is something he was interested in.

而就我個人與這個團隊的合作而言，即使到現在我也不會做任何改變。所以 David Schneider 是個很棒的人。他和我有非常好的友誼。而且他會一路與我一起做到今年年底。所以在 35 年的職涯中，其中 9 年在 ServiceNow，他的職涯非常傑出；順帶一提，他現在仍在持續贏得勝利。但他真的想花時間陪伴家人。他有一個 8 歲和一個 9 歲的孩子，而 35 年在外奔波確實很辛苦。他在我第一次見到他時就告訴我，這是他有興趣做的事。

So please know that in a certain sense, we're actually simplifying ServiceNow because Kevin Haverty, who's now the Chief Revenue Officer, has been running the number at ServiceNow for 6 years, and he's the guy. So when you think about our sales, sales operations, the industry, go to market, Kevin had it, he still has it, and all of his leaders are perfectly held in place. There's no change.

所以請了解，從某種意義上說，我們其實是在簡化 ServiceNow，因為現任首席營收長 Kevin Haverty 已在 ServiceNow 負責這個數字 6 年了，他就是那個關鍵人物。所以當你想到我們的銷售、銷售營運、產業、上市策略（go-to-market），Kevin 以前就掌握，現在仍然掌握，而且他所有的領導團隊都穩穩就位。沒有任何改變。

The second thing with Lara, as you know, she runs strategy for us, a very accomplished person. I just want to give you maybe just a little [jig], too, because sometimes when you run a strategy, you don't know everything about the person. This is a college basketball player for 4 years as a starter. So talk about competitive. She led, along with Kevin, the go-to-market for our company. She has 20 years' experience with CXO-level transformations. And she led our M&A events, and she's been my right hand on so many strategic issues since I've been here.

第二點，關於 Lara，如你所知，她負責我們的策略，是一位非常傑出的人才。我也想再補充一點小花絮，因為有時候你只看到一個人負責策略，未必了解她的全部。她曾是大學籃球員，連續 4 年擔任先發。所以談到競爭力——非常強。她與 Kevin 一起主導了我們公司的上市策略（go-to-market）。她在 CXO 層級的轉型方面有 20 年經驗。她也主導了我們的併購（M&A）活動，自從我來到這裡以來，在許多策略議題上她一直是我的得力助手。

So now she gets to put the value chain together. So our services business, we align presale, we align sale, we align post-sale. We align the ecosystem in a value motion to deliver extreme upside for our customers, and she really gets that with the Bain background and her experience at ServiceNow. She, too, is a tried true and proven leader that I was fortunate enough to get to work with when I came here.

所以現在她可以把價值鏈整合起來。就我們的服務業務而言，我們把售前對齊、把銷售對齊、把售後對齊。我們也把生態系統以價值驅動的方式對齊，為客戶帶來極大的上行空間，而憑藉她在 Bain 的背景以及在 ServiceNow 的經驗，她確實理解這一點。她同樣是一位久經考驗、實績證明的領導者，我很幸運在我來到這裡時能與她共事。

So no change. The only thing that's mildly different is at the end of the year, David is going to pursue his retirement, spend a little bit more time with his family. But in the meantime, he's right by my side. He'll be focused on sponsoring large customers and mentoring Kevin and Lara for anything that they need. And obviously, our culture is on fire. Our Net Promoter Score, the customer satisfaction, loyalty and our employee satisfaction is an all-time high. Please know, Brad, there is really no disruption here whatsoever.

所以沒有改變。唯一稍微不同的是，David 將在年底追求退休，多花一些時間陪伴家人。但在此期間，他仍會在我身邊。他會專注於贊助（sponsoring）大型客戶，並在 Kevin 和 Lara 需要的任何事情上提供指導。而且很明顯，我們的文化正火力全開。我們的淨推薦值（Net Promoter Score）、客戶滿意度、忠誠度以及員工滿意度都創下歷史新高。Brad，請你放心，這裡完全沒有任何干擾。

And I would just add also that the management changes have no impact on invoicing or billings, right? Our billings guide for the full year is strong, and we remain highly confident in our ability to achieve it.

我也想補充，管理層變動對開立發票或帳單（invoicing 或 billings）沒有任何影響，對吧？我們對全年帳單（billings）的指引很強勁，我們仍然對達成它的能力非常有信心。

Your next question is from Sterling Auty.

下一個問題來自 Sterling Auty。

I wondered if you could comment in terms of what you experienced geographically. And specifically, looking at the U.S. results, they look more flattish versus the growth in EMEA. Was there any driving factor, whether it's government contribution or others that you would point to?

我想請你評論一下你在地理區域方面的觀察。特別是看美國的結果，相較於 EMEA 的成長，看起來比較平坦。是否有任何驅動因素，例如政府部門的貢獻或其他因素，是你會指出的？

Yes. So we had good growth in the Americas. We had good growth in EMEA as well. We were really pleased with our results for Q2, really throughout the region. Really, they all achieved our expectations, which really helped drive the overperformance for all of Q2.

是的。我們在美洲有不錯的成長。我們在 EMEA 也有不錯的成長。我們對第二季（Q2）的結果非常滿意，基本上整個區域都是如此。實際上，各區都達到我們的預期，這也確實推動了 Q2 整體的超預期表現。

And Sterling, one thing that you may want to know is EMEA just broke through the $1 billion run rate threshold, which is an exciting achievement. And getting Paul Smith in that to run EMEA, which is a proven enterprise software executive for many, many years in the enterprise space and him leaving a pretty well-known brand to come here, I think, is setting a statement. So we're rock-solid in every single region. We're rock-solid at the top leadership level, and there's nothing but trust at ServiceNow with our customers and our people.

Sterling，你可能也會想知道，EMEA 剛剛突破了 10 億美元年化營收（run rate）的門檻，這是一項令人振奮的成就。而讓 Paul Smith 來領導 EMEA——他在企業軟體領域深耕多年、是經過驗證的高階主管，並且離開一個相當知名的品牌來到這裡——我認為這本身就傳達了一個訊號。所以我們在每一個區域都非常穩健。我們在最高領導層也非常穩健，而在 ServiceNow，我們與客戶及員工之間只有信任。

Your next question is from Alex Zukin of RBC Capital Markets.

下一個問題來自 RBC Capital Markets 的 Alex Zukin。

Congratulations on another great quarter. Just a quick one for me. Bill, it does seem like the core buyer in the IT department seems like they've gotten an adrenaline shot here from the COVID crisis. I wanted to ask, if you think about your playbook in this environment versus maybe 90 days ago, what's the playbook to take incremental share? And on the pipeline, if you could comment, typically on the federal vertical, what you're seeing there and in the quarter. And then I apologies for the multipart question, but could you just help us bridge the growth that you're putting up in kind of current RPO and current RPO bookings versus the adjusted subscription billings growth?

恭喜又交出一個很棒的季度。我這邊有個簡短問題。Bill，看起來 IT 部門的核心買家似乎在 COVID 危機中被打了一劑強心針。我想問，如果你把當前環境下的作戰手冊（playbook）與大約 90 天前相比，拿下增量市占的作戰手冊是什麼？另外關於管線（pipeline），如果你能評論一下，通常在聯邦政府垂直領域（federal vertical）你看到的情況，以及本季度的表現。最後抱歉這是多段式問題，你能否幫我們銜接一下：你們在當期 RPO 與當期 RPO 訂單（bookings）的成長，與調整後訂閱帳單（adjusted subscription billings）成長之間的差異？

Sure. Sure. I'll let Gina give you the RPO numbers. They're great. But look, the reality is this. The CEOs of enterprises around the world are going to be doubling down on their investment in digital transformation. They recognized in a pre-COVID world that you have to transform, but in a post-COVID world, you have to be digital to survive.

當然。當然。我先讓 Gina 提供 RPO 的數字。那些數字很棒。但你看，現實是這樣：全球各地的企業 CEO 將會加碼投資數位轉型。他們在 COVID 之前就已經認知到必須轉型，但在 COVID 之後的世界，你必須數位化才能生存。

I mean just think about it. Your employees have to actually work from anywhere now, if not all the way from home for quite a while. So digital transformation has hit everybody at home. 9 out of 10 CEOs have a digital-first strategy, yet only 4 out of those 10 say, "I'm ready for digital disruption." In other words, if somebody comes out their company with a digital playbook that's better than theirs, then they don't feel ready for that. So this is playing right into the hand of ServiceNow.

你想想看就知道了。你的員工現在必須能在任何地方工作，如果不是有相當一段時間都得完全在家工作。所以數位轉型已經直接影響到每個人的家庭。10 位 CEO 裡有 9 位有「數位優先」策略，但其中只有 10 位裡的 4 位說：「我已準備好面對數位顛覆。」換句話說，如果有人帶著比他們更好的數位作戰手冊進入他們的產業，他們覺得自己還沒準備好。所以這正好讓 ServiceNow 佔盡優勢。

What's interesting is the ITSM backbone to really be the thought leader in IT in that strategic authority, it carries over to the employee experience. It carries over to the customer service management side and also in edge applications.

有趣的是，ITSM 的骨幹要真正成為 IT 領域的思想領袖、具備那種策略權威，它會延伸到員工體驗。它也會延伸到客戶服務管理（customer service management）那一端，以及邊緣應用（edge applications）。

Take a great company like Lowe's. In the heart of COVID, they had to basically -- they had to deal with leave requests with their employees. How do I build an application in less than 96 hours and deploy it to 323,000 people? Well, you do it on a low-code platform like the Now Platform and you get it out there.

以 Lowe's 這樣的優秀公司為例。在 COVID 最嚴峻的時期，他們基本上——他們必須處理員工的請假申請。我要如何在不到 96 小時內建置一個應用程式，並部署給 323,000 人使用？你就在像 Now Platform 這樣的低程式碼平台上完成，然後把它推出去。

So you're seeing everything come together now to ServiceNow because we're a platform company. And I think that's the big breakthrough that all of our shareholders should realize because that platform now, if you talk to Microsoft, it's 1 of the top 6 strategic platforms for Microsoft. If you talk to any 1 of the big 6 systems integrators, it's one of their top platforms. Now people are realizing, my goodness, the 20th century architectures are too slow in these digital-first environments. How do I get fast? How do I get speed? And that's where the workflow revolution is hitting its stride because behind every great employee or customer experience is a great workflow.

所以你現在看到所有事情都在向 ServiceNow 匯聚，因為我們是一家平台型公司。我認為這是所有股東都應該意識到的重大突破：這個平台如今——如果你去問 Microsoft——它是 Microsoft 六大策略平台之一。如果你去問六大系統整合商中的任何一家，它也是他們的頂級平台之一。現在人們開始意識到，天啊，20 世紀的架構在這種數位優先的環境裡太慢了。我要怎麼變快？我要怎麼提升速度？而這正是工作流程革命開始發力的地方，因為每一個卓越的員工或客戶體驗背後，都有一個卓越的工作流程。

And if you listen to my comments today, it's also security because now we have to take the worker and match the IT badge with their rights and privileges and their safety protocols around coming back to the office or having to be quarantined or allowing their teammates to understand the dynamics of who's in and who's out. This is also happening in professional sports where we're highly involved as well. So all of these forces and more are saying platform companies win in a digital transformation environment, especially if they're born in the cloud.

而且如果你今天聽我的評論，這也關乎安全，因為現在我們必須把員工與其 IT 識別證、其權利與權限，以及他們回到辦公室或必須隔離時的安全規範相匹配，並讓他們的隊友了解誰在、誰不在的動態。這種情況也正在職業運動中發生，而我們也高度參與其中。因此，所有這些力量以及更多因素都在表明：在數位轉型環境中，平台型公司會勝出，尤其是那些原生於雲端的公司。

And on your question with respect to the RPO -- and thank you for noticing such strong growth in our -- both our RPO and our current RPO. The difference in the billings schedule, right, so invoicing schedule will impact billings, but it will not impact our RPO. So this goes back to the comment that I made earlier that the changes in the invoicing and billings are just timing related and do not impact our revenue expectations or our business performance. And so this is why billings is not always the best indicator. It's just timing, and the core of our business remains ever strong.

至於你關於 RPO 的問題——也謝謝你注意到我們的——無論是 RPO 還是當期 RPO 都有如此強勁的成長。差異在於開立帳單的排程，對吧，也就是開票排程會影響 billings，但不會影響我們的 RPO。所以這回到我先前提到的評論：開票與 billings 的變動只是時間點的差異，並不影響我們對營收的預期或我們的業務表現。因此，這也是為什麼 billings 並不總是最佳指標。這只是時間點問題，而我們業務的核心依然非常強勁。

So please, admin, not content and business, okay? Admin. We added -- handled billings and revenue are fine, margin, free cash flow, growth, everything where you wanted it.

所以拜託，管理面（admin），不是內容與業務，好嗎？管理面。我們新增——處理後的 billings 與營收都沒問題，毛利、自由現金流、成長，所有你想要的都在你希望的位置。

Your next question is from Gregg Moskowitz.

下一個問題來自 Gregg Moskowitz。

Congrats as well on a very good quarter. So it was impressive to see the mix of business from Now Platform add-on, another rise to 13% of the total this quarter. And Bill, you talked about the power of low code, no code. Are you seeing broader-based adoption of the Now Platform? Or was it significantly influenced by those 8-figure deals? I'm just trying to get a sense of whether you're seeing clear signs of growing trend here.

也恭喜你們交出非常好的季度成績。看到 Now Platform 附加（add-on）帶來的業務組合本季再度上升至總額的 13%，令人印象深刻。Bill，你談到了低程式碼、無程式碼的力量。你們是否看到 Now Platform 更廣泛的採用？還是這主要受到那些 8 位數交易的顯著影響？我只是想了解你們是否看到這裡有明確的成長趨勢跡象。

It's absolutely a growing trend. If you -- one of the examples I gave was the U.S. State Department. Think about this, they use the Now Platform to create a dozen applications in 3 weeks tracking COVID for every country around the world. If you think about customers like Petrobras, a global energy conglomerate and Brazil's largest company, by the way, they are using the Now Platform to lead their digital transformation strategy.

這絕對是一個正在成長的趨勢。如果你——我舉的一個例子是美國國務院。想想看，他們使用 Now Platform 在 3 週內建立了十幾個應用程式，用來追蹤全球各國的 COVID 情況。再想想像 Petrobras 這樣的客戶——一家全球能源集團，順帶一提也是巴西最大的公司——他們正在使用 Now Platform 來主導其數位轉型策略。

So it is clear that this idea of internal business process on an end-to-end basis has moved from a system of record idea because they realize the data gets trapped in a solo -- in a silo to streamlining things in a workflow. So this is how people are looking at product development now. This is how they're looking at process innovation. This is how they're thinking about reducing time from discovery all the way through to actually getting products and services to market. So I really believe we're onto something here, and we're at the forefront of the early days of the workflow revolution.

因此很明顯，這種端到端的內部業務流程理念，已經從「記錄系統（system of record）」的概念轉變，因為他們意識到資料會被困在單一——在資料孤島（silo）裡，轉而改為在工作流程中精簡流程。所以這就是人們現在看待產品開發的方式。這就是他們看待流程創新的方式。這也是他們思考如何縮短從發現到真正把產品與服務推向市場的時間。所以我真的相信我們抓到了一個重要方向，而且我們正站在工作流程革命早期階段的最前沿。

Yes. And I would just add to that the launch of our Safe Workplace applications. Goodness. This product was designed and launched in just a matter of weeks. And in the quarter, we saw over 30 deals closed. Now that's product innovation, incredible sales execution and quick time to value at its best. So again, really, really strong traction here.

是的。我也想補充我們 Safe Workplace 應用程式的推出。天啊。這個產品在短短幾週內就完成設計並推出。而且在本季度，我們看到超過 30 筆交易成交。這就是產品創新、卓越的銷售執行力，以及快速實現價值的最佳體現。所以再次強調，這裡的動能真的非常強。

And if I could build on that, Gina is absolutely right. I want you to know something. We referenced a few names in my comments today. And in all cases, we went against some other people out there that have heavily marketed their brands and their offerings. And why did the customers choose us? They said because you actually have a real product. It's not a prototype. It's not an idea. It's a product. And incidentally, when Uber actually implemented it in less than 2 weeks, they were stunned. And I was very proud to have them talk about that success at our Board meeting the other day. So what you're seeing now is people realizing the difference between marketing and prototypes versus real products and scale.

如果我可以在此基礎上再補充，Gina 說得完全正確。我希望你知道一件事。我們今天的評論中提到了一些名字。而在所有案例中，我們都是與市場上其他一些大力行銷其品牌與產品的人競爭。那為什麼客戶選擇了我們？他們說，因為你們真的有一個真正的產品。它不是原型。不是一個想法。它是一個產品。而且順帶一提，當 Uber 在不到 2 週內就實際導入時，他們都震驚了。而我也非常自豪，前幾天他們在我們的董事會會議上談到了那次成功。所以你現在看到的是，人們正在意識到：行銷與原型，和真正的產品與規模化之間的差異。

The next question is from Phil Winslow of Wells Fargo.

下一個問題來自富國銀行（Wells Fargo）的 Phil Winslow。

Congrats on a great quarter. Two questions for Bill. Bill, obviously, another strong quarter in sales and marketing hiring. Wonder if you could provide us some color on just what you're seeing in terms of just pipeline build from some of these new hires. And then what is sort of the -- just that strong hiring mean in terms of your confidence for the second half and next year? And then just one follow-up to that.

恭喜你們有個很棒的季度。我有兩個問題想問 Bill。Bill，很明顯你們在銷售與行銷的人才招募上又是一個強勁的季度。想請你分享一些細節：就這些新進人員而言，你們在銷售管線（pipeline）建置上看到了什麼樣的情況？另外，這樣強勁的招募對你們下半年以及明年的信心意味著什麼？然後我還有一個追問。

Yes, Phil. It's a great question. What we have done, which is very interesting, if you look at it, we've actually increased the size of the workforce 20%, and we powered right through the first half of the year in the midst of the COVID environment. So we have the feet on the street. We have everyone through Shark Camp, which is what we call our training camp here. And we also have 323 summer interns that are early adopters to the ServiceNow brands who want to join the company.

是的，Phil。這是個很好的問題。我們所做的事情很有意思：如果你仔細看，我們實際上把員工規模增加了 20%，而且在 COVID 環境之下，我們仍然一路推進、順利度過了上半年。所以我們有前線人力。我們也讓所有人都完成了 Shark Camp——這是我們在這裡對訓練營的稱呼。此外，我們還有 323 位暑期實習生，他們是 ServiceNow 品牌的早期採用者，並希望加入公司。

So we're hiring young, brilliant, inspired people to be part of the movement. And right now, we have enough feet on the street to actually achieve our goals. And we're looking at everything, Gina and I, when we go through the math, a year in advance to make sure we have the bandwidth.

所以我們正在招募年輕、聰明、充滿靈感的人才，成為這場運動的一部分。而且目前，我們有足夠的前線人力來實現我們的目標。而且 Gina 和我在做數字推演時，會提前一年檢視所有事項，以確保我們有足夠的產能與資源。

We're also making sure we invest properly in our engineering strength. And I want to basically say between engineering and go to market, there's nobody that can do it any better than us. So we really are looking at our own ideas, our own ability to invent and then having the capacity on the street and then the marketing savvy and the brand reach to get to people, not just in the Americas but all around the world, to get them on the ServiceNow train. So we're ready, and we're going to keep building the machine.

我們也在確保對工程研發實力做出適當投資。我基本上想說，在工程與市場推進（go to market）之間，沒有人能比我們做得更好。所以我們確實是在依靠自己的想法、自己的發明能力，並且具備前線執行的產能，再加上行銷敏銳度與品牌觸及力，去接觸不僅是美洲、而是全世界的人，讓他們搭上 ServiceNow 的列車。所以我們已經準備好了，而且我們會持續打造這部機器。

And I would just add to that. With respect to our pipeline, our coverage ratio today is better than at the same time, this time last year. And so from a confidence in our guide for the back half, as I said in my prepared remarks and Bill did as well, we're highly confident in our guide and our ability to execute in the back half of the year.

我也想補充一點。就我們的銷售管線而言，我們目前的覆蓋比率（coverage ratio）比去年同一時間還要更好。因此，對於我們下半年指引的信心，正如我在事先準備的講稿中所說、Bill 也提到的，我們對指引以及在下半年執行到位的能力都非常有信心。

Got it. And then just a follow-up for you in terms of just HR. Obviously, you called out a lot of wins in terms of return to work. And obviously, our checks have said a similar thing. How are you thinking about how the return to work impacted the Q2 results but also the second half, not just simply sort of as an add-on to existing HR service delivery customers but as potential to actually drive HR service delivery business?

了解。接著就人資（HR）方面再追問一下。顯然，你提到很多關於復工（return to work）的勝利案例。而且顯然，我們的查核也顯示類似的情況。你如何看待復工對第二季（Q2）業績的影響，以及對下半年的影響——不只是把它當作既有人資服務交付（HR service delivery）客戶的附加功能，而是作為可能實際帶動人資服務交付業務的動能？

I think the idea there is the 550 downloads, the 30 wins that Gina talked, proving that we are head over heels better than the offerings and the alternative scenario with other people in the market. We know that. So now it's just a question of how much upside can we get in the back end of the year. It didn't materially impact us this quarter. It's upside but it's not material. But in the future, I think if you look at employee experience as a holistic part of our business model, you take the core employee experience and now the return to work suite, and there'll always to be the next new innovation on top. But what I'm impressed with, Phil, is every 2 weeks, we have new releases that keep up with the ever-changing market dynamic.

我認為這裡的重點是 Gina 提到的 550 次下載、30 個勝案，證明我們在市場上的產品與其他替代方案相比，確實好得多、遠遠領先。我們知道這一點。所以現在只是個問題：在今年下半年，我們在後段能拿到多少上行空間。它在本季對我們沒有造成實質影響。它是上行，但不具重大性。但未來，如果你把員工體驗（employee experience）視為我們商業模式的整體一環，你會看到核心員工體驗再加上復工套件，而在其上永遠還會有下一個新創新。但 Phil，我印象很深的是，我們每兩週就有新版本釋出，能跟上瞬息萬變的市場動態。

There's 2 things that are going on here that I really want you to register. Number one, the architecture that others have cannot innovate in 2-week cycles and deploy with customers and get big companies running within -- fully deployed within 2 weeks. Architecturally, through various things of M&A and other things, they don't have the clean platform that we have.

這裡有兩件事我真的希望你記住。第一，其他人的架構無法以兩週為週期創新，並且部署給客戶，讓大型企業在——完整部署——兩週內就能上線運行。從架構上來看，因為各種併購（M&A）與其他因素，他們沒有我們這樣乾淨的平臺。

And secondly, our engineering team because the Now Platform is so simple, can iterate on this platform so quickly. So we actually got the whole suite out the door in 2 weeks. The emergency response apps in March were done in 3 days, deployed in a week. So that is the difference, the time to market. And so I would like the shareholders to understand that, that is upside but not required to deliver the dream that Gina and I laid out.

第二，我們的工程團隊因為 Now Platform 非常簡單，能在這個平臺上非常快速地迭代。所以我們其實在兩週內就把整套產品推出去了。三月的緊急應變應用程式（emergency response apps）三天就完成，一週內就部署。這就是差異：上市時間（time to market）。因此我希望股東能理解這點：這是上行空間，但並非交付 Gina 和我所描繪願景所必需的條件。

And I would just add also that our legacy HR is performing extremely well as well. At the end of the day, employee experience is more relevant than ever. And C-suite budgets are shifting really to drive better employee experiences. We closed 8 deals over $1 million in HR in the quarter, and HR was included in 14 of the top 20 deals. We now have over 750 customers.

我也補充一下，我們的傳統 HR 產品同樣表現非常出色。歸根結底，員工體驗比以往任何時候都更重要。而且高階主管（C-suite）的預算正在轉向，真正去推動更好的員工體驗。本季我們在 HR 方面成交了 8 筆超過 100 萬美元的案子，且在前 20 大交易中有 14 筆包含 HR。我們現在已有超過 750 家客戶。

And Bill spoke about the Commonwealth of Pennsylvania and Goldman Sachs in his prepared remarks. But another win we're proud of is with a multinational pharmaceutical company who really chose Now to consolidate all of their systems into one portal to reduce the complexity to the employee, drive more self-service and really streamline and automate broken processes. So you're absolutely right. HR is definitely on the forefront of all C-suite executives today.

Bill 在事先準備的發言中提到了賓夕法尼亞州政府（Commonwealth of Pennsylvania）與高盛（Goldman Sachs）。但我們另一個引以為傲的勝案，是一家跨國製藥公司選擇 Now，把他們所有系統整合到單一入口網站（portal），以降低員工端的複雜度、提升自助服務（self-service），並真正精簡與自動化那些失靈的流程。所以你說得完全正確。HR 絕對站在當今所有高階主管關注的最前線。

And your next question is from Chris Merwin.

下一個問題來自 Chris Merwin。

I wanted to ask about the software asset management product. I imagine that's particularly relevant these days with many companies burdened with a lot of tech debt and looking to digitally transform. So can you talk about, I guess, any updates there and how significant a contributor that might be to ACV going forward?

我想問一下軟體資產管理（software asset management）產品。我想在這段期間這特別相關，因為許多公司背負大量技術債（tech debt），並且正在尋求數位轉型。所以你能談談那邊的最新進展，以及它未來對 ACV 的貢獻可能會有多重要嗎？

Sure. Sure. Thank you very much for the question. I appreciate it, Chris. As you know, the environment is ripe for this. There are enormous opportunities with underutilized software assets, lots of shelfware. And obviously, this also is true in the hardware business. And our product addresses both of that.

當然。當然。非常感謝你的提問。Chris，我很感激。如你所知，這個環境非常適合推動這件事。未被充分利用的軟體資產帶來巨大機會，存在大量閒置軟體（shelfware）。而且顯然，硬體業務也同樣如此。我們的產品同時涵蓋這兩者。

What I would say to you is the rating that I gave you in my remarks. The independent research companies now have claimed us as a leader in the space. And the pipeline in this area is extremely good. Customers have activated us in all the scenarios that I have personally been involved in. They are looking at us in multiple ways. So typically, the software asset management is coupled with ITSM Pro and some other pieces, but it clearly will grow faster in the second half and beyond because of the legwork that we did in the first half, especially now bringing hardware asset management to market. So we can take a holistic look at both the hardware and the software, and both of those products have been rated by the independent researchers as the leader.

我想對你說的是，我在發言中給出的評等。獨立研究機構現在已將我們認定為該領域的領導者。而且這一塊的銷售管線（pipeline）非常強勁。在我親自參與的所有情境中，客戶都已啟用我們的方案。他們從多個角度評估我們。因此通常軟體資產管理會與 ITSM Pro 及其他模組搭配，但由於我們在上半年所做的鋪墊，尤其是現在把硬體資產管理（hardware asset management）推向市場，它在下半年及之後顯然會成長更快。因此我們可以同時對硬體與軟體做整體性的檢視，而這兩項產品都被獨立研究機構評為領導者。

Your next question is from Tom Roderick of Stifel.

下一個問題來自 Stifel 的 Tom Roderick。

Great job on a successful quarter. Bill, I was hoping you could just take a second and address the security product in a little bit more detail. Certainly, it seems like that is coming up right in the middle of a lot of your strategic deals right now. And security, of course, is right at the heart of digital transformation. Talk a little bit more about how that's progressing in the pipeline, who you're facing off against competitively there and how you're trying to structure these deals. What are the typical sizes of the security deals right now?

這一季表現很成功，做得很好。Bill，我希望你能花點時間更詳細談談資安（security）產品。當然，看起來它現在正好出現在你們許多策略性交易的核心。而資安當然也是數位轉型的核心。請多談談它在管線中的進展、你們在那裡主要面對哪些競爭對手，以及你們如何設計這些交易結構。目前資安交易的典型規模大概是多少？

Yes. Sure. Of course. Thank you very much for the question. I definitely appreciate it. In terms of our quarter, if you look at it, we had our largest security quarter ever for the company. Security was included in 15 of the top 20 deals. I spoke about Fiserv and JPMorgan, which incidentally, I can speak to with authority since I was the executive sponsor for both of those great businesses. Another example would be a very large defense contractor that worked with us. They saw tremendous value in an automated approach to security risk and vulnerability response and all on the Now Platform.

是的。當然。當然。非常感謝你的提問。我確實很感激。就本季而言，如果你看數據，這是公司史上最大的資安季度。在前 20 大交易中，有 15 筆包含資安。我提到 Fiserv 和摩根大通（JPMorgan），順帶一提，因為我同時是這兩家優秀企業的執行贊助人（executive sponsor），所以我可以很有把握地談。另一個例子是一家非常大型的國防承包商與我們合作。他們在安全風險與弱點回應的自動化方法上看到了巨大的價值，而且全部都在 Now Platform 上完成。

So I think what you should take away from this is we don't go in there competing with people. We don't actually compete with anybody. We don't talk badly about system of record. We have no problem with any brands that are in market or any particular security company. What they seem to like the most is as they think about streamlining and automating their workflow, they like to have all of it on the Now Platform.

所以我認為你應該從中得到的重點是：我們進去並不是在跟別人競爭。我們其實不跟任何人競爭。我們不會貶低任何記錄系統（system of record）。我們對市場上的任何品牌或任何特定資安公司都沒有問題。他們最喜歡的似乎是：當他們思考如何精簡並自動化工作流程（workflow）時，他們希望把所有內容都放在 Now Platform 上。

So these are very smooth attach rate deals for us because it's all in the workflow. And the companies like JPMorgan, for example, as you know, have beautifully run companies, extraordinary IT talent, and they really like to combine everything that they do in the workflow itself.

因此對我們而言，這些都是非常順暢的附加銷售（attach rate）交易，因為一切都在工作流程裡。而像摩根大通（JPMorgan）這樣的公司，如你所知，營運非常出色、IT 人才卓越，他們也非常喜歡把他們所做的一切都整合在工作流程本身之中。

One example of a company that I was personally involved in, it's as simple as this, an employee comes into a building, they have a badge. That badge is best understood by the ITSM Pro. Anything concerning that employee, for example, their rights and privileges, their office access, their computer access, we know everything about them. But also, we know everything about vulnerabilities and responses and attacks that might be coming into the company as well. And as you know, early detection is a whole key to solving these security problems before they get out of control. All of this is mastered in the Now Platform.

以我個人曾參與的一家公司為例，其實很簡單：一名員工進入一棟大樓，他們有一張識別證。那張識別證最適合由 ITSM 專業人員來理解與管理。任何與該員工相關的事項，例如其權利與權限、辦公室門禁、電腦存取，我們都對他們瞭若指掌。同時，我們也掌握所有可能進入公司的弱點、回應措施與攻擊。而如你所知，及早偵測是避免這些資安問題失控之前加以解決的關鍵。這一切都由 Now Platform 所掌握。

So think of us as a platform company. Think of this as workflow, and everything that's a business process or workflow in these companies has to be highly secure, including the return to workplace that Gina was just talking about. I mean half of the competitive advantage that we bring is knowing everything about the talent, their rights, privileges and what they should and shouldn't be doing. And that has been a big differentiator. That's why I think the IT backbone of our platform is a huge advantage.

所以把我們視為一家平台公司。把這視為工作流程，而這些公司裡任何屬於商業流程或工作流程的事，都必須高度安全，包括 Gina 剛剛談到的重返職場。我的意思是，我們帶來的競爭優勢有一半在於：我們掌握所有人才資訊、他們的權利、權限，以及他們應該與不應該做的事。而這一直是很大的差異化因素。這也是為什麼我認為我們平台的 IT 骨幹是一項巨大的優勢。

And we have time one more question. Your last question is from Sarah Hindlian-Bowler of Macquarie Capital.

我們還有時間再問一個問題。最後一題來自 Macquarie Capital 的 Sarah Hindlian-Bowler。

Congrats on another great quarter. The cRPO growth is really something to marvel at. Bill, I think one question that would be really helpful just to kind of hear your perspective on is if you could look at your sales -- your sales organization, your pipeline, your closure rate, do you feel better or worse than you did 3 months ago? And why?

恭喜再度交出亮眼的一季。cRPO 的成長真的令人讚嘆。Bill，我想有個問題如果能聽聽你的觀點會很有幫助：如果你回頭看你們的銷售——你們的銷售組織、銷售管線、成交率，你覺得相較於 3 個月前，你現在感覺更好還是更差？為什麼？

I feel much better. I didn't feel bad that I told you that then. And a promise is made, a promise is kept, but I feel even better now. And the reason why is I think people have come to know that the COVID environment is a reality. And this reality is not going away anytime soon, and businesses still have to run. Governments still have to serve their citizens. Our partners still have to acclimate in this climate and meet the ever-changing and diverse needs of digital transformation for our customers. So digital business is moving forward.

我感覺好多了。我當時並不覺得不好，我也跟你說過。承諾既然做出，就會信守，但我現在感覺更好。原因是，我認為大家已經逐漸認知到 COVID 的環境是一個現實。而這個現實短期內不會消失，但企業仍然必須運作。政府仍然必須為其公民提供服務。我們的合作夥伴仍然必須在這樣的情勢下調整，並滿足客戶在數位轉型上不斷變化且多元的需求。因此，數位化業務正在持續向前推進。

And the digital event we call Knowledge 2020 was double the attendance of the prior year. And I think that tells you that people are looking for content. They're looking for solutions. They need us now more than they ever did before.

而我們稱為 Knowledge 2020 的數位活動，出席人數是前一年的兩倍。我想這告訴你，人們正在尋找內容。他們在尋找解決方案。他們現在比以往任何時候都更需要我們。

The other thing that I find very, very interesting is -- can you imagine this, Sarah, being in 4 continents in a day on Zoom?

我覺得另一件非常、非常有趣的事是——Sarah，你能想像嗎：一天之內透過 Zoom 待在四大洲？

No. No, I can't.

不。不，我無法想像。

Right. We have defied the logic of time and travel because of these modern digital technologies. So as a productive person, I think that all leaders would probably tell you the same thing. If you interview 100 CEOs in The Business Council, I think 98 would tell you they can be in more places, in more time zones than they ever could have imagined in the physical world. So I think the whole world is adopting to this.

沒錯。因為這些現代數位科技，我們打破了時間與旅行的邏輯。所以以一個講求生產力的人來說，我想所有領導者大概都會跟你說同樣的事。如果你訪問商業委員會（The Business Council）裡的 100 位 CEO，我想有 98 位會告訴你：他們能在更多地方、更多時區出現，這在實體世界裡是他們從未想像過的。所以我認為全世界都在適應這件事。

I'll give you another example. If you look at our engineering team, they have written more code because we have all the analytics on the code and the productivity for engineer, and it's obviously good code. Everything works here. And then in terms of the customers using our platform, all of the use rates are sky high, higher than ever before. So this is just telling me that people have adjusted.

我再舉一個例子。如果你看我們的工程團隊，他們寫了更多程式碼，因為我們對程式碼與工程師生產力都有完整的分析數據，而顯然那也是好程式碼。這裡一切運作良好。再者，就客戶使用我們平台而言，所有使用率都非常高，創下前所未有的新高。所以這只是告訴我，人們已經調整過來了。

The shock of March has now become a norm, and business is going on. And that's evident. The pipeline is evident in the linearity. It's evident in all of the communications I've had with our sales leadership, our industry leadership, our various go-to-market teams, what we're doing in marketing, what we're doing in product marketing.

三月的震撼如今已成為常態，業務仍在持續進行。而這是顯而易見的。從銷售管線的線性表現就看得出來。從我與我們銷售領導、產業領導、各個市場推進（go-to-market）團隊的各種溝通，以及我們在行銷、產品行銷上所做的事情，也都看得出來。

I mean people are amped up here. I mean my biggest challenge here is telling them, "Hey, you guys got to take an afternoon off, go take a walk, relax." Because they're really just going full speed. So I believe you should feel very confident in ServiceNow today and very confident in the second half outlook and extremely confident in an inspired workforce to get the job done for our customers so they can serve their customers.

我的意思是，大家在這裡都很亢奮。我在這裡最大的挑戰反而是要告訴他們：「嘿，你們得抽個下午休息一下，去散散步、放鬆一下。」因為他們真的全速前進。所以我相信，你應該對今天的 ServiceNow 非常有信心，對下半年展望非常有信心，也對這支受到激勵、能為客戶完成任務、讓客戶得以服務其客戶的團隊極度有信心。

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.

各位女士、先生，今天的電話會議到此結束。感謝各位參與。您現在可以掛線。