PROS Named a Major Player in the IDC MarketScape for Worldwide Configure Price Quote Applications for Commerce 2020 Vendor As...
June 22 2020 - 9:00AM
Business Wire
Product road map, advanced pricing
functionality and quoting engine performance cited as key
strengths
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.”
As part of the PROS Commerce Platform, PROS Smart CPQ integrates
with the PROS Price Optimization, Opportunity Detection, and
Guidance solutions to create a comprehensive selling suite.
Learn more about how PROS helps organizations increase sales
team productivity while delivering personalized experiences for
buyers across direct, partner and eCommerce channels.
About PROS
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.
Forward-looking Statements
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.
1 IDC MarketScape: Worldwide Configure Price Quote Applications
for Commerce 2020 Vendor Assessment (IDC #US45353319), June
2020
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200622005062/en/
Amanda Parrish aparrish@pros.com 832-924-4731
Pros (NYSE:PRO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Pros (NYSE:PRO)
Historical Stock Chart
From Apr 2023 to Apr 2024