Product road map, advanced pricing functionality and quoting engine performance cited as key strengths
HOUSTON–(BUSINESS WIRE)–PROS® (NYSE: PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced it has been named a Major Player in the IDC MarketScape for Worldwide Configure Price Quote (CPQ) Applications for Commerce 2020 Vendor Assessment.
Disruption is accelerating buyers’ shift to digital channels, changing the way businesses buy, sell and engage with customers. Sales teams must be equipped with insights to respond immediately and accurately how and when buyers needs and demands dictate.
According to the IDC MarketScape, “CPQ applications have long been known as a tool to assist sales reps to sell the right product at the right time and for the right price, but modern B2B buyers are demanding more from CPQ application.”1
PROS strengths in CPQ cited by the IDC MarketScape include:
- Performance: PROS Smart CPQ includes a quoting engine that was designed to manage up to 100,000 quote line items with no performance degradation. The PROS Smart CPQ quoting engine reduces the time needed to create, analyze and manage very large quotes, bids or RFPs that involve complex, configurable products with thousands of lines and hierarchies based on product or market dimensions.
- Advanced pricing: PROS offers advanced pricing functionality, including the support of many pricing models out of the box, the ability to set pricing that moves with market indices, enabling buy-side price optimization, and support of dynamic pricing based on inventory/supply chain availability.
- Product road map: Customers interviewed by the IDC rated PROS above average when asked about product road map relevancy and how well it communicates features that are on its road map.
“PROS position as a Major Player underscores our deep understanding of current market needs and the strategic direction of our road map to improve sales effectiveness, leading to greater customer satisfaction and increased retention,” said Loretta Faluade, Solution Strategy Director at PROS. “With PROS Smart CPQ, sales reps find and tailor product recommendations, customize configurations, manage approvals and generate professional proposals to land the sale while delivering an experience their customers expect.”
Learn more about how PROS helps organizations increase sales team productivity while delivering personalized experiences for buyers across direct, partner and eCommerce channels.
PROS Holdings, Inc. (NYSE: PRO) provides AI-powered solutions that optimize selling in the digital economy. PROS solutions make it possible for companies to price, configure and sell their products and services in an omnichannel environment with speed, precision and consistency. Our customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions.
About IDC MarketScape
About IDC MarketScape: IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
This press release contains forward-looking statements, including statements about the functionality and benefits of AI-powered solutions to organizations generally as well as the functionality and benefits of PROS software products. The forward-looking statements contained in this press release are based upon PROS historical experience with AI-powered solutions and its current expectations of the benefits of AI-powered solutions for organizations that implement and utilize such software. Factors that could cause actual results to differ materially from those described herein include the addressability of an organization’s AI-powered solution needs, the risks associated with PROS developing and enhancing products with the functionality necessary to deliver the stated results and the risks associated with the complex implementation and maintenance of AI-powered solutions such as PROS software products. Additional information relating to the uncertainty affecting the PROS business is contained in PROS filings with the Securities and Exchange Commission. These forward-looking statements represent PROS expectations as of the date of this press release. Subsequent events may cause these expectations to change, and PROS disclaims any obligations to update or alter these forward-looking statements in the future whether as a result of new information, future events or otherwise.
1IDC MarketScape: Worldwide Configure Price Quote Applications for Commerce 2020 Vendor Assessment (IDC #US45353319), June 2020