Latest news with #Logik.ai
TECHx
3 days ago
- Business
- TECHx
ServiceNow Reveals AI-Powered CRM Advancements
Home » Tech Value Chain » Global Brands » ServiceNow Reveals AI-Powered CRM Advancements ServiceNow (NYSE: NOW) has announced a major upgrade to its CRM platform. The company revealed new AI-powered capabilities designed to transform the customer experience. The CRM enhancements aim to replace outdated systems. ServiceNow said it is unifying sales, fulfillment, and service on one platform. The goal is to provide seamless, end-to-end customer experiences. The company introduced AI agents for CRM. These agents can handle tasks autonomously, scale sales and support operations, and enable true self-service. This move marks a shift from reactive service to proactive engagement. According to ServiceNow, traditional CRMs end at the front office. This limits their ability to support the full customer lifecycle. The updated CRM is built for an AI-first world, with proactive and personalized experiences across all touchpoints. ServiceNow reported that its CRM business is growing rapidly. It reached an annual contract value (ACV) of $1.4 billion by the end of 2024. This reflects a 30% year-over-year growth, making it the company's fastest-growing workflow solution. John Ball, EVP and GM of CRM and Industry Workflows at ServiceNow, stated that the platform allows businesses to manage the full customer lifecycle more efficiently. He said the AI-powered platform enables workflow automation from order capture to fulfillment. ServiceNow's AI agents are already automating 37% of its own customer support cases. These agents: Start with conversational interactions to capture requests Automatically resolve issues or route them with full context The company said these agents can coordinate with live representatives when needed. This helps businesses increase efficiency and reduce response times. ServiceNow also reported a series of recent innovations. In April, it signed a definitive agreement to acquire an AI-powered CPQ provider. The acquisition is expected to expand ServiceNow's CRM capabilities and help sales teams close deals faster. Additionally, the company launched its Yokohama platform update. It introduced new features such as AI agents, self-service commerce portals, and turnkey CCaaS integrations. With these advancements, ServiceNow is positioning its platform as a complete solution to sell, fulfill, and service from the first customer contact to final resolution.
Yahoo
27-04-2025
- Business
- Yahoo
ServiceNow Stock Soars on AI Momentum. Is It Too Late to Buy?
Share prices of ServiceNow (NYSE: NOW) popped after the software company reported strong revenue growth to start the year and raised its guidance. While it's still trading down about 10% year to date, as of this writing, the stock is up about 27% over the past year. Meanwhile, it has been a huge winner over the past decade, up more than 1,150% during that span. The software-as-a-subscription (SaaS) company is best known for its information technology (IT) management platform, which is widely used by IT departments to manage networks and support tasks. And now, with its workflow automation and digital processing tools, it is expanding into other areas such as human resources and customer service. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The core value of its platform lies in connecting siloed departments and helping organizations digitize and streamline their operations. It also made some acquisitions, including Moveworks and to enhance its customer relationship management (CRM) offerings. It is also leaning into artificial intelligence (AI), incorporating both generative AI and agent-based AI into its platform. Its Now Assist, a generative AI assistant, helps customers in several ways, including providing an AI chatbot to handle questions, a text-to-code generator, and a case summarization tool. More recently, it introduced AI agents to automate workflows and provide support without the need for human intervention. AI was one of the biggest drivers of ServiceNow's first-quarter revenue growth. Its number of Pro Plus deals, which includes its AI solutions, more than quadrupled year over year. And 15 of its 20 largest deals included Pro Plus products. In addition, it signed 39 deals that had three or more Now Assist products. Overall, revenue rose 18.5% year over year to $3.09 billion, while adjusted earnings per share (EPS) also climbed 18.5% to $4.04. That topped the analyst consensus, which was looking for EPS of $3.83 on revenue of $3.08 billion, as compiled by the LSEG. Subscription revenue climbed 19% year over year to $3 billion, while professional services revenue increased 5% to $83 million. The company continues to do well in adding large customers, increasing its number of customers with a net annual contract value (ACV) or $20 million or more by nearly 40%, and customers with ACVs of $5 million or more by nearly 20%. It had 72 deals greater than $1 million in net new ACV in the quarter, up from 63 a year ago. The company called out the manufacturing and healthcare/life sciences sectors as being bright spots. It also said its U.S. government business was solid. Another metric investors like to follow with ServiceNow is growth in remaining performance obligations (RPO), which is deferred revenue plus backlog growth. The reason for this is that it can be an indication of future revenue growth. In the quarter, the company saw RPO climb 25% to $22.1 billion, while current RPO (cRPO) increased by 22% to $10.3 billion. This is a good indication that revenue growth should remain around 20% in the near term. In fact, that is around where the company forecast its second-quarter revenue growth. It projected its subscription revenue to grow between 19% to 19.5% to a range of $3.03 billion to $3.035 billion. It is expecting cRPO to also increase by 19.5%. For the full year, the company slightly increased its subscription revenue guidance. It now expects subscription revenue of between $12.64 billion to $12.68 billion, up from a prior forecast of $12.635 billion to $12.675 billion. The updated forecast represents growth between 19% to 19.5%. As a company that helps its customers create operational efficiency and enhance their digital platforms, ServiceNow is well-positioned even in a more cautious and uncertain economy. It's also expecting significant opportunities in the federal sector after budget cuts. It has even introduced a new government transformation suite that has been purpose-built to help accelerate digital transformation, increase transparency, and improve public service delivery. The company is looking like an AI software winner, and the combination of generative AI and agentic AI should only solidify its position. It's already seeing strong AI growth, and that should continue. From a valuation perspective, the stock now trades at a forward price-to-sales multiple of 14.8 based on 2025 analyst estimates. For a high-margin SaaS business with about 20% revenue growth, that valuation is reasonable, although not in the bargain bin. As such, I wouldn't chase the rally in the stock, but I think it still has solid upside from here over the long term. In the meantime, I would be on the lookout to buy the stock if it gets caught up in any market dips. Before you buy stock in ServiceNow, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and ServiceNow wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $594,046!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $680,390!* Now, it's worth noting Stock Advisor's total average return is 872% — a market-crushing outperformance compared to 160% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 21, 2025 Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ServiceNow. The Motley Fool has a disclosure policy. ServiceNow Stock Soars on AI Momentum. Is It Too Late to Buy? was originally published by The Motley Fool Sign in to access your portfolio
Business Upturn
24-04-2025
- Business
- Business Upturn
ServiceNow stock soar nearly 16% as Q1 results beat estimates and AI bets pay off
By Aditya Bhagchandani Published on April 24, 2025, 23:00 IST Shares of ServiceNow Inc (NYSE: NOW) jumped 15.02% today to close at $935.99, gaining $122.23 in a single session after the company reported stellar Q1 FY25 results that exceeded guidance across all major topline and profitability metrics. The surge reflects investor confidence in the firm's aggressive AI expansion, robust enterprise contracts, and consistent execution. Q1 FY25 Highlights: Strong growth across the board In the quarter ending March 31, 2025, ServiceNow posted: Subscription revenue of $3,005 million, up 19% YoY (20% in constant currency) Total revenue of $3,088 million, growing 18.5% YoY Current Remaining Performance Obligations (cRPO) at $10.31 billion, up 22% YoY Remaining Performance Obligations (RPO) at $22.1 billion, up 25% YoY 508 customers with more than $5 million in Annual Contract Value (ACV) CEO Bill McDermott: 'ServiceNow is meeting the moment' Chairman and CEO Bill McDermott emphasized that ServiceNow's growth is being propelled by its role as the 'platinum standard for enterprise-grade AI'. The company is helping CEOs navigate a dynamic environment by driving business transformation through AI-powered automation. CFO Gina Mastantuono highlights operational efficiency President and CFO Gina Mastantuono said Q1 was a 'quarter of great execution,' noting that internal AI use has driven opex efficiency and strong free cash flow. She added that during uncertain times, customers seek ROI and cost optimization — ServiceNow's strength. Key innovations and acquisitions driving momentum Throughout Q1 FY25, ServiceNow launched and expanded several groundbreaking initiatives: 🔹 Agentic AI expansion Thousands of preconfigured AI agents across CRM, HR, IT AI Agent Orchestrator to automate complex workflows New solutions for telecom and public sector, powered by NVIDIA AI 🔹 Acquisitions & partnerships Announced acquisition of Moveworks for enhanced search and AI assistant capabilities Plan to acquire , an AI-powered CPQ tool for CRM Deepened collaborations with NVIDIA, Google Cloud, Vodafone Business, Devoteam, and others Share repurchase and recognition ServiceNow repurchased 316,000 shares for $298 million in Q1. As of now, $3 billion remains authorized under its $4.5 billion buyback program. Recent recognitions include: Named a Leader by IDC MarketScape and Forrester Ranked among Fortune's Most Admired & Most Innovative Companies Included in Ethisphere's 2025 World's Most Ethical Companies What's next? With strong Q1 results and a robust AI strategy, ServiceNow is well-positioned for continued momentum in FY25. Its combination of high-value enterprise deals, AI-driven efficiency, and strategic acquisitions positions it as a major force in enterprise software and digital transformation. Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment advice. Please consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Tahawul Tech
08-04-2025
- Business
- Tahawul Tech
ServiceNow acquire Logik.ai in a bid to expand its growing CRM footprint globally
ServiceNow has announced it has signed a definitive agreement to acquire an industry leader with a modern, AI‑powered, and composable Configure, Price, Quote (CPQ) solution. best‑in‑class capabilities for sales and commerce will expand ServiceNow's growing CRM footprint and empower sales organizations to close deals faster, boost productivity levels, and achieve greater efficiency. The acquisition will accelerate ServiceNow's momentum in Sales and Order Management (SOM), the critical process that governs the commercial lifecycle from opportunity management, quoting, and order placement, through fulfillment and delivery, to renewals and expansions. Companies in every industry struggle with ineffective sales processes due to complex product configurations, pricing inconsistencies, and error‑prone manual quoting. Sales teams waste valuable time navigating spreadsheets, outdated pricing models, and disconnected approval workflows, leading to delayed deals, lost revenue opportunities, and frustrated customers. This is especially evident in industries such as manufacturing, high tech, and medical device sales, where the complexities of products and services demand extreme precision and agility. integrates AI into its modern CPQ solution to accelerate the entire transaction management cycle through an advanced rules engine that solves for speed, simplicity, and scale while powering a consumer‑grade experience for both sellers and buyers. ServiceNow CRM & Industry Workflows, already ServiceNow's fastest‑growing business, plus best‑in‑class capabilities for AI‑powered selling, will drive new levels of performance in sales and commerce for customers. 'ServiceNow is advancing our commitment to offer robust, deeply connected CRM tools. The CPQ space is evolving, and is leading the way to a simpler, AI‑powered selling experience across channels. By adding 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. It's about delivering a fundamentally different vision and approach to traditional CRM and CPQ offerings — one that addresses the real pain points in connecting end‑to‑end customer experiences,' said John Ball, EVP and GM of CRM & Industry Workflows at ServiceNow. '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. 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,' continued Ball. 'We invested early in innovations like AI and consumer‑grade experiences that are re‑writing how products of any complexity are sold. ServiceNow CRM is built for the era of AI, making it the perfect partner to continue that momentum,' said Christopher Shutts, CEO and cofounder of 'Businesses are frustrated by solutions that force them into slow and cumbersome experiences that weigh down sales productivity. transformative solution combined with ServiceNow's innovative, AI‑fueled platform ensures speed and efficiency through the full sales lifecycle from lead and opportunity through to fulfillment, renewal, and upsell. We look forward to becoming part of ServiceNow to help customers achieve greater simplicity and scale across the entire CRM process.' Make sales cycles seamless with smarter CPQ offers seamless experiences for stakeholders across a multitude of sales workflows, including direct sales, partner, direct‑to‑business, consumer self‑service, and more. flexible, composable solution is designed for speed and handling large volumes of users and quote lines at scale, and the company is driving success for brands such as Keysight, Oldcastle Infrastructure, Lamons, CORT, and more. which already integrates with nearly 50 technology partners, including ServiceNow, will seamlessly connect with ServiceNow's Customer Service Management and Sales and Order Management solutions to streamline complex selling processes and unlock more efficient self‑service capabilities for customers and partners. This advancement will be a natural step forward in ServiceNow's CRM strategy, building on core strengths of connecting functional teams and powering simple, efficient workflows. ServiceNow's CRM offering addresses the full customer lifecycle, from sales and service in the front office, to order management and fulfillment to renewals and upsells. The company's recently announced Yokohama platform release further strengthens its CRM & Industry Workflows business with capabilities like self service commerce portals, turnkey CCaaS integrations, and AI agents designed specifically for CRM use cases. These include CSM triage agents for customer service cases, as well as network test and repair AI agents, all designed to reduce friction and unify the customer experience on a single platform. An innovator in the customer service and support market since 2016, ServiceNow transforms customer experiences through the power of the ServiceNow Platform, which connects people, data, and systems organization‑wide to provide frictionless customer service and sales, from first contact to resolution. Transaction Details The transaction is subject to customary regulatory approvals and closing conditions.
TECHx
07-04-2025
- Business
- TECHx
ServiceNow Acquires Logik.ai to Boost AI-Powered Sales CRM
ServiceNow Acquires to Boost AI-Powered Sales CRM ServiceNow (NYSE: NOW), an AI-driven business transformation company, has announced the acquisition of a top provider of AI-powered Configure, Price, Quote (CPQ) solutions. This strategic acquisition will expand ServiceNow's CRM capabilities and accelerate its growth in Sales and Order Management (SOM), helping sales teams close deals faster, boost productivity, and drive efficiency. AI-powered CPQ solution simplifies complex sales processes, tackling issues like inconsistent pricing, product configurations, and manual quoting. It streamlines the transaction cycle, offering a seamless experience for both sellers and buyers. By integrating AI, speeds up the entire sales process, enabling precision and scalability. The acquisition will strengthen ServiceNow's CRM offerings, particularly in industries such as manufacturing, high-tech, and medical devices, where product configurations are highly complex. These sectors need solutions that offer speed and accuracy, and technology meets that need. With this addition, ServiceNow is positioned to support businesses with smarter, faster, and more efficient sales processes. John Ball, EVP and GM of CRM & Industry Workflows at ServiceNow, said, ' advanced CPQ solution transforms the sales experience by providing AI-driven simplicity. This acquisition strengthens our CRM suite, allowing us to deliver even faster, more efficient workflows, all on a single platform.' solution also integrates seamlessly with ServiceNow's existing tools, including Customer Service Management and Sales and Order Management. This integration will further simplify the sales process, enhance self-service capabilities, and improve overall sales performance for companies like Keysight, Oldcastle Infrastructure, Lamons, and CORT. CEO and co-founder, Christopher Shutts, noted, ' technology, combined with ServiceNow's powerful AI platform, will redefine CRM by making sales cycles faster and more efficient. Together, we will help businesses close deals more quickly and drive customer success.' The acquisition also aligns with ServiceNow's recently launched Yokohama platform, which includes new features like AI agents for CRM use cases, self-service commerce portals, and turnkey CCaaS integrations. These innovations will optimize sales workflows from lead generation to quoting, fulfillment, renewal, and upselling. ServiceNow continues to innovate and lead the way in transforming customer experiences. With acquisition, ServiceNow further solidifies its position as a leader in AI-powered CRM solutions, offering businesses a smarter and more efficient way to manage the entire customer lifecycle.
