Zilliant Announces Infusion of Artificial Intelligence Across the Pricing Lifecycle
May 22 2024 - 9:30AM
Business Wire
- Generative AI to be incorporated into CPQ and Analytics to
improve productivity, enhance user experience and increase speed to
insights
- Sales reps can leverage AI-driven pricing guidance in Zilliant
CPQ to close deals faster without eroding profit
- All new innovations will be highlighted at Zilliant’s MindShare
2024 conference
Zilliant, the leader in pricing lifecycle management, today
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.”
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.
Available for Demonstration
Learn more about Pricing Lifecycle Management — the multi-step
process by which companies can get the right deal, at the right
price, to the customer at the right time — by reading this post on
the Zilliant blog.
GenAI Pricing Analytics, Pricing Guidance in Zilliant CPQ and
Zilliant’s self-service AI assistant will be featured at Zilliant’s
MindShare conference, held May 21-23 in Austin, Texas.
About Zilliant
Zilliant helps businesses put pricing at the heart of their
business by managing the entire pricing lifecycle. Zilliant’s data
science, cloud-native software and passion for customer success
deliver the highest ROI, fastest time to value and highest customer
satisfaction. Learn more about how Zilliant helps businesses unlock
the full power of pricing at zilliant.com.
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Treble Jim Cameron zilliant@treblepr.com