ServiceNow to Acquire Logik.ai, Boosting CRM with AI-Powered CPQ Solutions
ServiceNow (NYSE: NOW) has announced a definitive agreement to acquire Logik.ai, a leader in AI-powered Configure, Price, Quote (CPQ) solutions.
The acquisition will enhance ServiceNow’s CRM capabilities and enable sales organisations to close deals more efficiently.
ServiceNow said the acquisition will improve Sales and Order Management (SOM) processes by addressing common pain points in the sales cycle. These include the need to configure complex products and the need to generate quotes manually. Both of these can lead to lost revenue and customer frustration, especially in sectors like manufacturing and high tech.
Logik.ai’s advanced CPQ solution harnesses the power of AI to streamline the management of transactions, providing a consumer-grade experience for users.
“This acquisition will transform traditional CRM and CPQ offerings by simplifying customer experiences,” John Ball, EVP and GM of CRM & Industry Workflows at ServiceNow said.
Christopher Shutts, CEO of Logik.ai, said: “Our technology will enhance sales productivity and efficiency throughout the sales lifecycle when combined with ServiceNow’s powerful AI platform.”
Logik.ai’s solution supports a variety of sales workflows, including direct sales, channel sales, and self-service. It integrates with nearly 50 technology partners, including ServiceNow, to improve self-service capabilities.
The acquisition is subject to regulatory approvals and customary closing conditions. ServiceNow’s CRM strategy has been bolstered by the recent release of its Yokohama platform, which includes self-service commerce portals and AI agents that can handle customer inquiries.
