PROS Launches Sales Agreement Management to Streamline Selling in Digital Era

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.

PROS Smart CPQ with support for sales agreements empowers companies to:

• 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 parameters.
• 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.

Availability

PROS Smart CPQ with support for sales agreements is available today. For more information, visit: www.pros.com/smartcpq.

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. To learn more, visit the PROS website or follow PROS on Twitter at @PROS_Inc.

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.