When ServiceNow picked up Logik.ai last month, few batted an eyelid.
At first, the move for a Configure, Price, Quote (CPQ) solution provider seemed a natural expansion of ServiceNow’s Sales and Order Management offering.
However, according to Michael Ramsey, GVP of Product Management for Customer Workflows at ServiceNow, this acquisition represents something much more significant.
In an exclusive interview with CX Today, Ramsey stated:
This is a major acceleration of our CRM strategy.
Why? Because Logik.ai isn’t just another CPQ aimed at sales teams.
Instead, it offers ServiceNow the opportunity to democratize CPQ technology.
By doing so, the tech giant may – over time - help its customers boost revenues and enable a more data-rich CRM experience. Here’s how.
ServiceNow Could Democratize CPQ Tech to Boost Business Revenues
Logik.ai offers all the features expected of a CPQ. It allows employees to configure a product/service and determine pricing based on key customer details, pre-defined rules, and discounts. It then generates a quote.
Yet – as noted - Logik.ai doesn’t only serve up sales teams with CPQ capabilities; it empowers all customer-facing employees with CPQ capabilities.
As per Ramsay, that’s a key differentiator. He said:
Logik.ai immediately enhances our capabilities in those critical 'moments that matter' when a transaction is happening. It’s not just designed for direct sales teams; it’s truly omnichannel.
Logik.ai’s consumer-grade UX, which – per Ramsey - integrates seamlessly into the entire customer lifecycle, is critical here.
Yet, it has also partnered with the likes of Adobe, BigCommerce, and Shopify to put CPQ functionality in the hands of many more users.
In doing so, Logik.ai helps brands boost revenues across more customer touchpoints, such as contact center conversations, service desk interactions, and field service visits.
Typically, the employees making these engagements have lacked the tools to upsell and cross-sell effectively.
Indeed, they have relied on commerce bolt-ons, disconnected from the customer journey, resulting in cumbersome, clunky sales experiences that often result in escalation.
With Logik.ai, ServiceNow may streamline that sales experience, empowering front-office teams with the right tools to boost revenue.
Logik.ai Will Enable a More Data-Rich CRM Experience
The team behind Logik.ai previously built two other CPQ solutions: BigMachines and Steelbrick, which it sold to Oracle and Salesforce, respectively.
Logik.ai is its third venture into the CPQ market.
Yet, it didn’t just build on what it had done previously. This time, Logik.ai wanted to grasp the opportunity to leverage the CPQ process as a means to collect precise, meaningful information about customer wants, needs, and priorities.
Indeed, it doesn't just record transaction data but broader customer data and signals that could inform the next-best engagement. That information is gold dust for a CRM.
