PROS New Opportunity Detection Uses Machine Learning to Identify Hidden Sales Growth with Existing Customers
HOUSTON, Sept. 18, 2017 – PROS® (NYSE: PRO), a cloud software company powering the shift to modern commerce, today launched Opportunity Detection, a new SaaS solution in its SellingPRO portfolio. Opportunity Detection drives sales growth with existing customers by identifying new opportunities that are instantly delivered to sales teams in their familiar CRM systems for immediate evaluation and action.
Using machine learning algorithms, Opportunity Detection mines transaction data for patterns in customer buying histories and identifies inconsistent purchasing behaviors; declining purchasing patterns; and cross-sell gaps in product purchasing when compared with similar customers. Opportunity Detection presents the results in an easy-to-use, actionable format that sales teams can evaluate from their CRM systems, including Microsoft Dynamics or Salesforce.com.
“In the digital era, companies are looking to deliver a modern commerce experience for their customers with a more personalized and frictionless sales process,” said Dan Tolan, PROS Vice President, Product Management. “Today, the customer is in control and fully informed, and the stakes have never been higher for sales teams. Companies that enable their sales teams to respond with speed, precision and consistency across all channels win the business and earn trusted advisor status with their accounts.”
Implementation for Opportunity Detection can be completed in as little as 30 days. When combined with other functionality, including SellingPRO Smart CPQ and PricingPRO Guidance, sales teams are fully equipped to identify an even greater breadth of sales opportunities and close deals faster by recommending the right products, at the right price for their customers. For example, a PROS distribution customer using Opportunity Detection identified more than 30,000 potential opportunities in just eight months and is now driving sales growth resulting in an incremental $6M in annualized revenue.
Companies that successfully execute a modern commerce strategy are better positioned to provide greater customer experiences and remain competitive in today’s marketplace. Opportunity Detection also helps companies build a modern commerce platform:
- Personalized offers: Sales teams can proactively bring personalized suggestions to customers based on each customer’s individual buying behavior. Opportunity Detection also provides early insights to sales reps that they may need to strengthen relationships with specific customers or risk losing the business. Now, reps can develop an approach that provides an appropriate level of engagement to meet their customers’ expectations.
- Algorithmic recommendations: Opportunity Detection recommendations are made based on machine learning techniques to ensure relevance and accuracy. The algorithmic foundations enable a sustainable program that’s not dependent on extensive manual involvement to maintain.
- Frictionless selling: As sales reps proactively and successfully bring more new ideas to their customers, they build a level of trust by demonstrating an in-depth understanding of their business and can be counted on to make their jobs easier.
To learn more about Opportunity Detection, visit www.pros.com or follow PROS on Twitter at @PROS_Inc.
About PROS
PROS Holdings, Inc. (NYSE: PRO) is a cloud software company powering the shift to modern commerce by helping companies create personalized and frictionless buying experiences for their customers. Fueled by dynamic pricing science and machine learning, 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 pros.com.
Forward-looking Statements
This press release contains forward-looking statements, including statements about the functionality and benefits of revenue, profit realization and modern commerce software 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 revenue, profit realization and modern commerce software and its current expectations of the benefits of revenue, profit realization and modern commerce software 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 revenue, profit realization and modern commerce software 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 revenue, profit realization and modern commerce software 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.
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Media Contact:
James Garber
pros@marchcomms.com
617-960-9875