Future roadmap, integration with existing systems and user interface are identified as key strengths of PROS’ pricing strategy solutions
PROS® (PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced that it has been named a Leader by IDC in the IDC MarketScape for Worldwide B2B-Focused Price Optimization Applications.
Buyers shifting to digital channels has required B2B vendors to continuously deliver competitive pricing to increase market share and profitability. To deliver on customer expectations, leading vendors turn to price optimization technologies that leverage artificial intelligence (AI) to identify pricing opportunities, support negotiations and enable real-time eCommerce price calculations that adapt to current market conditions. PROS sales technology is backed by decades of AI expertise, a heritage in helping businesses navigate pricing complexity and constant innovations in AI that add an intelligence layer to a variety of data sources to generate actionable insights.
The IDC MarketScape report states, “price optimization applications are entering a period of rapid evolution due to the adoption of machine learning (ML) and the ability to leverage external data (e.g., competitor pricing, weather, commodity pricing) to define tighter customer/product segments, price better, and offer valuable prescriptive insights.”1
PROS price optimization and management solutions, which integrate with PROS SmartCPQ and Opportunity Detection technologies, were evaluated based on detailed interviews with vendors, publicly available information and end-user experiences. The following were cited as strengths by the IDC MarketScape:
- Built for the future and road map: Customers were very delighted with the PROS road map and how well the solution would serve them into the future. They pointed out how PROS customer experience personnel were proactive and took their feedback. They were excited to utilize the upcoming ML/AI features on the road map to generate insights and reduce complexity.
- Integration with external systems (CRM, ERP, etc.): Customers rated PROS highly on their ability to quickly integrate with their existing systems. A large worldwide enterprise company pointed out the huge complexities of integrating with several ERP systems and continually making sure the pricing data is keeping multiple systems up to date.
- User Interface: Customers liked how PROS continually evolves their user interface to make it easier to use [...].
“As businesses constantly adapt to rapidly changing market conditions, such as the competition, channel complexity and other factors, price optimization technologies offer a way to overcome complexity to maximize profitability and customer satisfaction,” said Valerie Howard, Solution Strategy Director at PROS. “Our recognition as a leader in the IDC MarketScape reflects the efforts of PROS to use the latest advancements in AI to ensure that the pricing strategy model is continually learning from changing market conditions to accurately deliver price guidance.”
1 IDC MarketScape: Worldwide B2B-Focused Price Optimization Applications 2018 Vendor Assessment (IDC #US44517118), December 2018
PROS Holdings, Inc. (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.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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.