ServiceNow Inc. NOW has actually gotten Logik.ai, a business concentrating on AI-powered Configure, Cost, Quote (CPQ) services.
The offer is anticipated to boost ServiceNow’s existence in Consumer Relationship Management (CRM) and improve sales and order management procedures.
By incorporating Logik.ai’s innovation, ServiceNow intends to streamline complicated sales cycles, boost efficiency and enhance effectiveness for organizations throughout different markets.
Industries such as state-of-the-art production and medical gadgets typically fight with ineffective sales procedures brought on by complicated item setups and out-of-date prices structures.
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Logik.ai’s AI-powered CPQ option intends to solve these obstacles by enhancing deal workflows, reducing mistakes, and accelerating offer completion.
The acquisition of Logik.ai is anticipated to reinforce ServiceNow CRM and Market Workflows sector, which is currently ServiceNow’s fastest-growing service.
The combination will present AI-powered selling tools that improve pricing quote, order positioning, and satisfaction procedures.
Logik.ai’s modular CPQ platform accommodates different sales channels, such as business-to-business, partner networks, and self-service for customers.
Presently, Logik.ai works with almost 50 innovation partners, consisting of ServiceNow. The acquisition goes through traditional regulative approvals and closing conditions.
Information of the deal were not divulged. ServiceNow held $2.3 billion in money and equivalents since Dec. 31, 2024.
NOW Cost Action: ServiceNow shares traded lower by 5.09% at $782 at publication Thursday.
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