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Composable paths addressing spectrum of pricing and selling use cases accelerate time to value; ability to optimize revenue profitably in constantly changing market contexts Industry-first Extensible AITM reduces total cost of ownership of AI, fueling digital selling
HOUSTON, July 13, 2021--(BUSINESS WIRE)--PROS® (NYSE: PRO) today announced next-generation intelligent SaaS editions for the PROS Platform designed to drive a harmonized and interconnected selling motion within and across key components of the commercial engine: direct sales, partner, marketplace and self-service interactions to next-generation digital channels. With PROS Smart Price Optimization and Management and PROS Smart Configure Price Quote editions, every business can dynamically adapt their digital selling strategy to a highly fluid market while optimizing revenue profitably in constantly changing market contexts.
According to Gartner, by 2025, 80% of B2B sales interactions will occur in digital channels1 and while many businesses transact digitally, they fail to connect eCommerce, marketplaces and other digital channels with traditional sales-assisted interactions. Despite ongoing digital transformation initiatives, few organizations can execute harmonized and interconnected omnichannel sales experiences due to the disparate silos comprising the commercial engine, competing business priorities and disconnected technologies. Industry experts now warn that 20-40%2 of a B2B organization’s customer base could be at risk to competitors if they cannot effectively engage customers in this rapidly changing environment.
Next-Generation Pricing and Selling SaaS Editions: Faster Time to Value
PROS next-generation Pricing and Selling SaaS editions are now available to every business, regardless of size, as composable paths spanning simple to more advanced use cases, allowing for quick adoption of digital selling capabilities based on an organization’s business objectives. The pricing, selling and ecommerce paths feature proven, trusted business AI, dynamic pricing and the ability to scale to the broader PROS Platform capabilities. Included within each edition are defined implementation services, support, access to product training and more to accelerate time to value from digital selling investments.
Essentials: Harness the power of rules and formulae to define, manage and evolve omnichannel pricing strategies
Advantage: Add the power of AI to constantly optimize omnichannel pricing strategies and manage customer purchasing agreement workflows
Ultimate: Add market leading supply and demand forecasting capabilities and run proprietary algorithms on the PROS Platform
Essentials: Streamline the end to end sales quoting process for standard off the shelf products
Advantage: Add the ability to configure products, create bills of materials and customer purchasing agreements workflows
Ultimate: Infuse selling processes with advanced AI designed to prevent customer churn, expand share of wallet and automate even more seller administrative work
"For businesses to outperform, regardless of industry, channel ubiquity is a must, it is simply table stakes," said PROS President and CEO Andres Reiner. "Every business – whether a $100M, $100B or anywhere in between – must reconsider the interconnectedness and channel fluidity a true omnichannel sales experience requires to meet customers’ expectations every time, all the time, in every channel. With the PROS Platform, businesses have the agility required to adapt to their constantly changing selling landscape and the increasing pace of change, driving industry-leading interconnected sales motions and powering profitable revenue growth under today’s most demanding market conditions."
Industry-first: Extensible AITM
PROS is a pioneer and continued leader in AI and ML innovation and with this announcement, PROS extends its market leadership in proven, trusted business AI with the introduction of Extensible AITM.
Extensible AITM is an industry-first capability that empowers a business to balance proprietary innovation with ongoing system maintenance and management required to execute highly sophisticated AI systems underpinning omnichannel sales experiences.
Wholly proprietary AI systems are exceedingly fragile, as they are often reliant on singular points of failure or individuals that may move on to new assignments. Replacing AI skill sets is challenging and often expensive. Moreover, the teams, systems and infrastructure required to test, manage, secure and maintain proprietary AI systems and models turn the notion of harnessing AI for business benefit into a full-blown R & D project without defined timelines. This makes development and maintenance of an in-house, proprietary AI solution practically impossible for most businesses.
Businesses can now import proprietary algorithms and data for additional augmentation, exploration and deployment directly to the PROS Platform, vastly reducing the total cost of ownership for AI systems and reliance on in-house skill sets, infrastructure, security and maintenance required to manage business AI.
Wacker Chemie AG Revolutionizes Digital Selling with PROS
"PROS has been a trusted partner for us as we continue to revolutionize how we digitally sell in today’s complex market conditions," said Wacker Chemie AG Chief Information Officer and Chief Digital Officer Dirk Ramhorst. "With the prescriptive insights PROS delivers, our salesforce is confidently engaging more accounts and yielding more productive business outcomes, regardless of channel, without compromising real-time costs or margin. PROS technology is a game-changer and the only option for future-proofing our digital selling strategy."
About the PROS Platform
The PROS Platform enables organizations to constantly adapt to their market conditions, with proven AI-based capabilities for deep demand and margin forecasting, cost modeling, dynamic pricing and more to continuously feed daily decision-making and longer-term business strategy. The Platform helps eliminate barriers between stakeholders in the selling process to collaborate on a customer offer and drive it to a close while accelerating pricing and selling efficiencies to create greater margin and grow revenue profitably.
The latest PROS Platform editions are available now. For more information, visit https://pros.com/pros-platform/editions. To find out more about how PROS customers like HP, Wacker Chemie, Saint-Gobain and others are driving their digital selling initiatives with PROS, please visit: https://resources.pros.com/case-studies-testimonials.
PROS Holdings, Inc. (NYSE: PRO) is a leading provider of SaaS solutions that optimize shopping and selling experiences. Built on the PROS Platform, these intelligent solutions leverage business AI, intuitive user experiences and process automation to deliver frictionless, personalized purchasing experiences designed to meet the real-time demands of today’s B2B and B2C omnichannel shoppers, regardless of industry. To learn more, visit www.pros.com.
This press release contains forward-looking statements, including statements about the functionality and benefits of SaaS shopping and selling optimization 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 SaaS shopping and selling optimization 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 SaaS shopping and selling optimization 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 SaaS shopping and selling optimization 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 Gartner. (2020, September). The Future of Sales in 2025: A Gartner Trend Insight Report. https://www.gartner.com/en/documents/3989951/the-future-of-sales-in-2025-a-gartner-trend-insight-repo
2 PROS, Hanover. (2020, June). How COVID-19 is Changing B2B Buying. https://resources.pros.com/ebooks/how-covid-19-change-b2b-buying?referral=content_recommendation
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