ServiceNow, Inc. or Workday, Inc.: Who Invests More in Innovation?

Innovation Investment: A Tale of Two Giants

In the ever-evolving tech landscape, innovation is the lifeblood of success. ServiceNow, Inc. and Workday, Inc. are two titans in the industry, each vying for the top spot in innovation investment. Over the past decade, both companies have significantly increased their research and development (R&D) spending, reflecting their commitment to staying ahead in the competitive market.

From 2014 to 2024, Workday, Inc. has consistently outpaced ServiceNow, Inc. in R&D investment, with a peak in 2024 where Workday's spending reached approximately 2.46 billion, slightly surpassing ServiceNow's 2.54 billion. This represents a growth of over 1,250% for Workday and 1,600% for ServiceNow since 2014. The data highlights a fierce competition, with both companies nearly doubling their R&D expenses in the last five years alone. As these tech giants continue to innovate, the question remains: who will lead the next wave of technological breakthroughs?