ServiceNow has confirmed the pick-up of Logik.ai, as it continues making strides in the CRM market.
Logik.ai is a configure, price, quote (CPQ) solution provider.
Its key differentiators include its logic (or "logik") engine, which processes complex product configurations and transactions at "lightning speed".
Then, there's Logik.ai's composable, API-first architecture. This will make the integration of the CPQ across ServiceNow workflows seamless.
Also, it offers an intuitive point-and-click admin experience. With this, the CPQ provider claims to lower the need for scripting, simplify integrations, and enable AI-powered rules management.
Finally, there's the small matter of what's in the name Logik.ai: AI.
Indeed, the CPQ solution leverages a "first-of-its-kind" Cosmo AI model to take CPQ intelligence and spread it across the enterprise.
In its official press release, ServiceNow claimed that the purchase will help expand its "growing CRM footprint."
That's no surprise. The solution makes for a natural extension of the ServiceNow Sales and Order Management platform.
Equipped with Logik.ai’s capabilities, sales teams leveraging this solution may close deals faster, increase productivity, and streamline the commercial lifecycle, from opportunity management to fulfillment and renewals.
Sharing more, John Ball, EVP and GM of CRM and Industry Workflows at ServiceNow, detailed how the purchase will also allow the company to deliver a "fundamentally different vision and approach to traditional CRM and CPQ offerings.
“[Our approach is] one that addresses the real pain points in connecting end-to-end customer experiences," he explained.
Customers want consumer-grade experiences that are simple, scalable, fast, and accurate so they can focus on what matters most: closing deals, enabling customer success, and driving expansion opportunities.
"Logik.ai’s next-generation technology will enable us to rapidly deliver that unique value. When combined with our powerful AI platform for business transformation, we will redefine what a leading CRM solution can do."
ServiceNow Aims to Further Accelerate Its CRM Growth
When announcing the acquisition, ServiceNow revealed that its CRM and Industry Workflows business unit is the fastest growing in the company.
The hope is that the implementation of Logik.ai’s AI-powered selling capabilities will boost this growth by driving "new levels of performance" in sales and commerce.
ServiceNow will be looking to achieve this by leveraging Logik.ai’s sales workflow experiences, which can be deployed across various channels, including direct sales, partner sales, and self-service.
Already integrated with nearly 50 technology partners, including ServiceNow, Logik.ai will also "seamlessly connect" with ServiceNow’s Customer Service Management solution - alongside its Sales and Order Management offering.
