(NYSE: PRO), a provider of AI-powered solutions that optimize selling in
the digital economy, today announced PROS
Smart CPQ now with support for sales agreement workflows, enabling
sales teams to manage the sales agreement lifecycle and quickly create,
amend, and extend existing agreements with customers to accelerate the
sales process across every channel – direct, partner, and eCommerce.
With this update to PROS Smart CPQ, B2B organizations now have a
comprehensive quoting platform that improves responsiveness to customer
or prospect requests, speeds analysis and delivery of quotes regardless
of complexity, and nurtures long-term customer retention through
streamlined agreement management.
By 2023, industry analyst firm Forrester Research forecasts US B2B sales
to equal some $11 trillion dollars’ worth of transactions1 –
the majority of which are based on contractual sales agreements, often
created and managed through manual, error-prone processes spanning
multiple systems. As a result, sales reps often struggle to create,
negotiate and make necessary modifications to these agreements,
especially across multiple channels, which impacts responsiveness to a
buyer and hinders deals from progressing to close.
Accelerate responsiveness to RFPs and bids: Response support
for bids/RFPs with up to 100,000 line items with ease. Support for
multi-level quotes with multiple currencies in the same proposal.
Automated workflows for the creation, negotiation, and management of
sales agreement, including recalculation of renewal prices over the
term of the agreement.
Collaborate with internal selling and pricing stakeholders:
Internal workflow to support multi-team collaboration and deal
analysis as a result of pricing recommendations to meet business
guidelines; support of mass price changes of products within agreement
Analyze revenue and profitability performance of every deal:
Real-time analysis of the changes being made on a renewal/amendment
agreement to meet both business and customer requirements.
Integrate omnichannel commerce: Negotiated sales agreement
prices delivered consistently across traditional channels and
eCommerce, enabling customers to engage how, when, and where they want
in the buying process.
“Recurring customers are the lifeblood of a successful B2B company, and
factoring management of the sales agreement lifecycle into a company’s
digital selling model across every channel is a must,” said Loretta
Faluade, solution strategy director at PROS. “In an era where speed,
transparency and ability to quickly deliver are defining customer
relationships, sales teams that leverage digital selling solutions will
foster the best experiences, and ultimately master customer retention
over the long term.”
Additional upgrades to PROS Smart CPQ include a high-performance quoting
engine that provides the speed and scalability required to create and
deliver large, complex quotes with up to 100,000 line items. Leveraging
an intuitive and flexible user interface and guided quoting process,
sales reps move through the quoting process quickly and easily. New
analytics accelerate the analysis of every deal to meet margin demands
without sacrificing value to the customer.
1 Forrester Research, “US B2B eCommerce Will Hit $1.8
Trillion By 2023 Landscape: The B2B eCommerce Playbook,” by Allen Bonde
and John Bruno, January 28, 2019.
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. To learn
more, visit the PROS website
or follow PROS on Twitter at @PROS_Inc.
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.