Our Latest Platform Innovation: PROS Smart Rebate Management

The fuel behind our continuous product innovation is our relentless focus on helping our customers outperform their markets, especially against both their top and bottom-line results. It is this North Star that has made PROS a leader in pricing and selling solutions. As we look to the future and continue our collaboration with customers and partners, one thing has become abundantly clear: the market desires a unified platform for intelligent control of all their commercial levers. With that in mind, I want to share more about our recent innovation: PROS Smart Rebate Management.

In early 2024, two amazing brands—a global leader in sustainable construction and a global leader in oil and gas products—approached PROS to co-innovate on new rebate management functionality. They chose to partner with PROS for three key reasons:

1. Breadth of functionality. PROS was the first vendor to unify best-in-class Price Optimization & Management and CPQ under one unified, intelligent platform. PROS has become the commercial backbone for leading brands across 40+ different industries. Choosing a standalone and disconnected rebate management solution and fragmenting their core workflows was not up for consideration.
2. Scale and performance. We have taken the responsibility that comes with providing mission critical systems seriously. Every minute a transactional platform is slow or down costs a business revenue and customer loyalty. We provide solutions that our customers can trust. They are always on and always producing winning results.
3. Pedigree of proven and trusted AI. From day one, AI and data science have been foundational elements across all our solutions. This means we have more experience in creating and tuning models, explaining the results of our algorithms, and providing recommendations in an honest and ethical way.

Through our co-innovation on PROS Smart Rebate Management, we have become experts on all aspects of the rebate lifecycle, drawing all the connections to price setting strategies and quoting workflows, creating a single viewpoint of all the drivers related to a business’ commercial success. By delivering rebate management functionality as part of the PROS Platform, we’re able to help businesses manage both off- and on-invoice incentives.

PROS Smart Rebate Management wouldn’t be a part of the PROS Platform if we didn’t have plans to extend its value with AI. In the near future, businesses will not only be able to intelligently create optimal rebate programs but create the ideal combination of price discounts and incentive programs. Weave this in with the other types of offers, including quotes, subscriptions, and special price agreements, and our customers have all the winning ingredients for and end-to-end solution.

I’m excited to share that today we announced the first release of PROS Smart Rebate Management, an end-to-end rebate lifecycle management solution offering capabilities to define, manage, and optimize rebate programs within the context of a complete platform—spanning existing omnichannel pricing and selling workflows. Capabilities include:

• Rebate Programs Management: Create, review, and approve rebate programs and their underlying incentives within a native platform experience. Includes multiple, out-of-the box incentives along with the flexibility to extend with user-defined incentives tailored to business needs.
• Rebate Attainment: Support for rebate attainment criteria, including minimum purchase, growth targets, and qualitative attainments such as training, endcap displays, and more.
• Accruals and Settlements: Automatically track accruals to ensure visibility, efficiency, and accuracy of payouts.
• Claims Management: Automatically create claims based on pre-defined payout schedules and manual claim creation for qualitative rebates.
• Approval Workflows: Easily approve rebate programs and incentives with simple and straightforward workflows, making it easier for pricing, finance, and sales teams to manage and approve rebate-related activities, understand how programs are performing, and make more informed commercial decisions. 

From our experiences with our innovation partners, we understand all the personas involved in a large-scale rebate process, and we’ve accounted for this in our Platform. We’ve extended our core workflows, including advanced pricing and CPQ, to ensure an integrated and consistent user experience across the rebate lifecycle.

With the announcement of this new offering, I want to extend a personal invitation to businesses seeking to unify their pricing, incentive, and sales strategies to learn more about this innovation. We’d love to show you our work and give you a head start leveraging our AI-powered Platform to outperform in your market. If you want to be part of this, reach out to us at sales@pros.com.