HOUSTON, Aug. 21, 2018 – PROS®(NYSE: PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced it has been named for the third consecutive time to the prestigious Constellation ShortList™ for Configure Price Quote (CPQ). PROS Smart CPQ is among six solutions selected by Constellation Research that meet CPQ category criteria that companies should consider in their evaluations.
The Constellation Report notes that CPQ software automates the sales-to-close process to ensure quote accuracy, increase delivery speed and enhance deal margin and profitability. Guided selling capabilities were given additional importance during Constellation’s vendor evaluations, based on its clients who have expressed how these attributes help decrease quote mistakes and increase revenue by adding often-forgotten solutions to the quote.
“Our research found that organizations experience an average time savings of 300 percent by using CPQ solutions compared with manual quoting processes,” said Cindy Zhou, a Constellation Orbits Member and former Constellation Principal Analyst covering Digital Marketing Transformation and Sales Effectiveness. “With the overall B2B sales cycles lengthening, organizations that deploy CPQ report improved sales cycles with faster quote delivery, improved quote accuracy and increased average deal sizes. We recommend that organizations with global complexity, multiple distribution channels of 25 or more sellers consider investment in a CPQ solution.”
“The digital era has created a vastly changing marketplace that puts more power into the hands of buyers,” said PROS Chief Marketing Officer Celia Fleischaker. “Customers now expect baseline vendor requirements that include pricing transparency and frictionless buying experiences. PROS Smart CPQ, which also provides self-service eCommerce, enables sales teams to automate and simplify their most complex configurations and their pricing and quoting processes to accelerates the sales process. We’re honored to again be recognized by Constellation for PROS Smart CPQ and its capabilities that deliver quoting accuracy, delivery speed and profitability.”
Constellation lists the following as threshold criteria for CPQ solutions:
- Ease of use, user interface
- Deal optimization/profitability modeling capabilities
- Integration into CRM systems
- Broad geographical reach for multi-language/currency support
- Workflow management
- Guided selling
- Sales accessibility
- Analytics and role-based reporting
- Post-sales support and community
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.
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 futurewhether as a result of new information, future events or otherwise.