Shares of ServiceNow rose more than 3 percent on Thursday, after the company reported a strong quarter—including a significant 52 percent increase in subscription billings.
ServiceNow CEO Frank Slootman told Jim Cramer this is the result of a successful platform strategy that he has worked on for many years, and all of the pieces of the puzzle have finally fallen into place.
The fourth quarter "was a special quarter for us. Everything went right, and you are seeing the results of that," Slootman told the "Mad Money" host.
ServiceNow is a cloud-based software company that helps corporate information technology (IT) departments build internal applications. It also allows clients to automate non-revenue generating functions such as human resources, legal, finance security and facilities management.
In just a few years the company has gone from being fairly small to the leading player in enterprise IT services management. Slootman noted that machine intelligence has transformed the industry, where machines must now become smarter, understand patterns and make decisions on their own.
"The real big change that is happening in our business is it used to be that systems were there in support of people. That is now inverting. People are going to be there in support of systems," Slootman said.