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IT professional of 20-odd years here, who was also the technical lead for the deployment of ServiceNow at a global Fortune 500 business. Some information on ServiceNow if this helps anyone:
* ServiceNow is considered the industry leader / standard in terms of ITSM (Information Technology Service Management) platforms. ITSM platforms are what are used to manage tickets, usually in-line with one or more sets of best practices (such as ITIL). They will typically also perform numerous other functions such as ITAM, knowledge bases, CMDB, SecOps, DevOps, change management, etc - something which ServiceNow does via add-on type modules. In short, if you've ever been told at work to "log a ticket" or contacted customer support at a company you've bought something from, chances are your case / ticket went into an ITSM platform like ServiceNow.
* ServiceNow created a highly customisable and configurable platform which accommodates just about any type of use-case required, and it's built around a standardised cloud-based architecture which means it can utilise a single underlying dataset for just about any process flow or function across the platform - this is one of the main things that led to it being so successful, companies no longer had isolated pockets of data in various disparate platforms, it could all be accessed from one enabling high levels of automation across businesses.
* All of this functionality is then made available through standard REST APIs meaning it's highly integratable with other platforms - so for example, if a business wants to link it to their HR platform so that whenever a new starter joins the business a ticket is automatically raised to the IT team to issue them a laptop, mobile etc - that's very easy to do.
So what are the drawbacks?:
* First and foremost, licensing costs. ServiceNow is free for any end-users to interact with, but if you need someone to be able to execute functionality within the platform they require a license and those are *extremely* expensive. The business I worked for at the time had negotiated favourable rates due to our size / size of the deployment, and even then our per-user licenses were in excess of $1,250 per person. This, in my mind, largely prices ServiceNow out of anything below large-corporate / enterprise markets.
* The next is the actual deployment itself. If you're not using too many modules and just need relatively basic functionality licenses aren't quite as bad, but the problem is you still need to get it deployed, configured, and then train people to use it. This again presents a problem for smaller businesses, because if you don't have the skills in-house (which most smaller businesses won't) the consultancy fees involved in a ServiceNow deployment are obscene. Ours went into the millions, and we had our own developers. This means that whilst someone tech savvy could likely get the platform up and running from the box, they'd likely see very little value from the product because of the vast amount of configuration required to realise a return on the outlay.
* The third is the market availability of developers. Many larger businesses who roll out ServiceNow will want to hire their own development capability in-house so they're not having to constantly engage expensive consultancy partners as they upgrade and customise their instance. ServiceNow developers are rarer than unicorns right now, and as such if you find a good one you're looking at salaries well into the 6-figures to secure them.
For anyone saying "I keep hearing everyone hates ServiceNow", my response to that would likely be you're speaking to people who either don't know how to get value out of the product, or are working with a poor implementation of it (see the above piece around the upfront cost of the configuration). It's like any tool, give me a welding torch vs a trained professional and ask us to join two pieces of metal together - we'll probably both manage to join the pieces together but you'll be looking at two very different outcomes, and I sure as shit hope you're business isn't dependant upon the one I've done.
So right now, I don't think there's anyone in the market who can compete with ServiceNow in the large corporate / enterprise-level and above, however; they're an expensive premium brand with a high cost barrier to entry and on-going maintenance.

IT professional of 20-odd years here, who was also the technical lead for the deployment of ServiceNow at a global Fortune 500 business. Some information on ServiceNow if this helps anyone:
* ServiceNow is considered the industry leader / standard in terms of ITSM (Information Technology Service Management) platforms. ITSM platforms are what are used to manage tickets, usually in-line with one or more sets of best practices (such as ITIL). They will typically also perform numerous other functions such as ITAM, knowledge bases, CMDB, SecOps, DevOps, change management, etc - something which ServiceNow does via add-on type modules. In short, if you've ever been told at work to "log a ticket" or contacted customer support at a company you've bought something from, chances are your case / ticket went into an ITSM platform like ServiceNow.
* ServiceNow created a highly customisable and configurable platform which accommodates just about any type of use-case required, and it's built around a standardised cloud-based architecture which means it can utilise a single underlying dataset for just about any process flow or function across the platform - this is one of the main things that led to it being so successful, companies no longer had isolated pockets of data in various disparate platforms, it could all be accessed from one enabling high levels of automation across businesses.
* All of this functionality is then made available through standard REST APIs meaning it's highly integratable with other platforms - so for example, if a business wants to link it to their HR platform so that whenever a new starter joins the business a ticket is automatically raised to the IT team to issue them a laptop, mobile etc - that's very easy to do.
So what are the drawbacks?:
* First and foremost, licensing costs. ServiceNow is free for any end-users to interact with, but if you need someone to be able to execute functionality within the platform they require a license and those are *extremely* expensive. The business I worked for at the time had negotiated favourable rates due to our size / size of the deployment, and even then our per-user licenses were in excess of $1,250 per person. This, in my mind, largely prices ServiceNow out of anything below large-corporate / enterprise markets.
* The next is the actual deployment itself. If you're not using too many modules and just need relatively basic functionality licenses aren't quite as bad, but the problem is you still need to get it deployed, configured, and then train people to use it. This again presents a problem for smaller businesses, because if you don't have the skills in-house (which most smaller businesses won't) the consultancy fees involved in a ServiceNow deployment are obscene. Ours went into the millions, and we had our own developers. This means that whilst someone tech savvy could likely get the platform up and running from the box, they'd likely see very little value from the product because of the vast amount of configuration required to realise a return on the outlay.
* The third is the market availability of developers. Many larger businesses who roll out ServiceNow will want to hire their own development capability in-house so they're not having to constantly engage expensive consultancy partners as they upgrade and customise their instance. ServiceNow developers are rarer than unicorns right now, and as such if you find a good one you're looking at salaries well into the 6-figures to secure them.
For anyone saying "I keep hearing everyone hates ServiceNow", my response to that would likely be you're speaking to people who either don't know how to get value out of the product, or are working with a poor implementation of it (see the above piece around the upfront cost of the configuration). It's like any tool, give me a welding torch vs a trained professional and ask us to join two pieces of metal together - we'll probably both manage to join the pieces together but you'll be looking at two very different outcomes, and I sure as shit hope you're business isn't dependant upon the one I've done.
So right now, I don't think there's anyone in the market who can compete with ServiceNow in the large corporate / enterprise-level and above, however; they're an expensive premium brand with a high cost barrier to entry and on-going maintenance.