ServiceNow is acquiring Logik.ai and its configure, price, quote (CPQ) solution to expand its customer relationship management (CRM) product portfolio and accelerate its momentum in sales and order management.
Logik.ai, founded in 2021, provides a product that integrates artificial intelligence and an advanced rules engine to streamline the transaction management cycle.
The acquisition will expand ServiceNow’s salesforce automation capabilities and provide self-service options for customers who are looking to configure the right product and services themselves, according to industry analysts.
“With CPQ more seamlessly embedded into the sales and order management capabilities, sellers can increase productivity by exponentially reducing time towards building sales quotes and recording opportunities in the system. But also, as the system learns, it can also recommend the right products and services to add to a particular deal or help in generating cross-sell and upsell revenue potential,” said Martin Schneider, vice president and principal analyst at Constellation Research. “Logik.ai users who do not have ServiceNow can definitely add more self-service capabilities to drive more frictionless commerce inside their business and provide more seamless customer experience.”
As for how these CRM capabilities tie into ServiceNow’s service management capabilities, Schneider said the company’s approach to agentic AI and workflow will further automate the CPQ process and bring in more data sources to provide recommendations and configurations. The acquisition will take advantage of other synergies amongst the CRM and service management products as well, he said.
“Service management, whether it is internal helpdesk or external call-center or support center, is inside the ‘CRM lifecycle’ of marketing, sales, customer support/experience. ServiceNow is simply building out a full suite of CRM offerings. And given their exceptional core workflow, these are going to be compelling, again, when you consider ServiceNow’s investment in agentic and generative AI capabilities,” Schneider explained.
According to ServiceNow, the acquisition of Logik.ai will lead to more robust, connected CRM tools.
“The CPQ space is evolving, and Logik.ai is leading way to simpler, AI-powered selling experience across channels. By adding Logik.ai’s industry-leading sales and commerce solution to our CRM offering, ServiceNow will further enhance our capability to sell, fulfill, and service on a single platform,” said John Ball, executive vice president and general manager of CRM & Industry Workflows at ServiceNow, in a statement.
The ServiceNow-Logik.ai transaction is subject to regulatory approvals and closing conditions.
Source:: Network World