Generative AI to be incorporated into CPQ and Analytics to improve productivity, enhance user experience and increase speed to insights
Zilliant, the leader in pricing lifecycle management, announced major AI innovations to its solutions. This announcement includes a new product, GenAI Pricing Analytics, enabling rapid insights into the full impact of the pricing details for their products and customers. Additionally, Zilliant has released AI-driven Pricing Guidance in Zilliant CPQ, a deep integration between price optimization and CPQ solutions, and will have an AI assistant embedded in Zilliant CPQ, which helps simplify the self-service shopping experience. Zilliant will highlight the new offerings at its MindShare 2024 conference, which brings together the leading minds in pricing.
Pricing is a C-suite priority as companies grapple with a new global economic environment. As a core strategic process that affects brand, buying experience and financials, pricing involves multiple departments such as sales and finance. Despite being cross-functional, pricing is often managed in disconnected spreadsheets and siloed. Companies choose Zilliant to help manage the entire pricing lifecycle and connect multiple lines of business under a unified end-to-end process. Companies can infuse AI throughout the lifecycle to augment and automate critical pricing processes.
“Our customers need to react to cost and pricing changes faster, ensure that pricing changes are actually delivered and leveraged in the field, and get a single view of how the pricing strategy is being executed,” said Kylie Fuentes, Zilliant’s Chief Product & Marketing Officer. “Zilliant can already help them manage this full pricing lifecycle but will soon be able to do it even better with strategically embedded AI to improve productivity, enhance user experiences and increase speed to insights.”
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GenAI Pricing Analytics
Analytics is a critical step in pricing lifecycle management, ensuring that pricing and sales leaders can effectively glean actionable insights to drive strategy across the business. With GenAI Pricing Analytics, available later this year, customers will receive AI-generated insights to quickly take action, create meaningful reports for users and set up alerts to drive proactive price management. This eliminates the traditional, time-consuming methods of having analysts pore through spreadsheets to create ad hoc reports — missing opportunities to react to market changes faster.
Organizations will soon be able to react faster to cost and pricing changes and gain a single view of pricing strategies’ impacts.
AI-Driven Pricing Guidance in Zilliant CPQ
At the same time, pricing is only as good as a company’s ability to deliver the right price in the right deal to the customer. That delivery is powered by Zilliant CPQ, the company’s state-of-the-art, configure-quote-price solution that builds in pricing guidance. Sellers can leverage pricing guidance during the quoting process to ensure quotes are in line with revenue targets and reduce price discrepancies. This accelerates the approval process, reduces the time to quote and prevents deal erosion.
Within the quoting process in Zilliant CPQ, a sales representative can immediately see a red, yellow or green light next to the price for every line item in the quote. The stoplight visual provides sellers with an instant indication of whether each discount meets margin or other business requirements. Prices that fall within the price range will automatically be approved, while those that do not serve as a reminder to the sales rep that this quote will need to go through approval workflows.
Zilliant CPQ Self-Service AI Assistant
The right price is highly dependent on what the customer wants to buy. Zilliant CPQ allows users to configure the right deal through multiple channels like sales, partners and self-service. In the self-service experience, users will be able to have conversations with an AI assistant to help them find what they’re looking for. They can provide prompts like “Show me the forklift with the largest engine,” which propels the assistant to scan through vast product catalogs and technical documentation to return intelligent product recommendations. This empowers users to get their questions answered quickly and complete their purchase without needing to be an expert on the company’s offering. This feature will be released at a later date.
Source: BusinessWire
