HOUSTON--(BUSINESS WIRE)--Helping companies accelerate sales, and expand and sustain profitability, PROS (NYSE: PRO), the revenue and profit realization company, today introduced for the first time new data science-driven cross-sell capabilities for its SellingPRO Smart CPQ solution. With real-time product recommendations based on historical transaction data, Smart CPQ enables companies to deliver prescriptive intelligence to what has traditionally been a manual, error-prone and difficult-to-maintain process.
In today’s hypercompetitive markets, customers are looking for CPQ systems to deliver real-time, dynamic prices and quotes. According to Forrester Research, “In the age of the customer … B2B buyers are forcing B2B sellers and their ecosystem partners (such as resellers, distributors, service providers, agents, and manufacturer sales reps) to rethink traditional selling models and harness technologies, both to deliver a superior customer experience and to drive agility and operational efficiency.”1
The new cross-sell capability provides sales teams, partners and online customers with an online retailing-like experience. Sales reps now get data science-driven, real-time recommendations for complimentary products based on what similar customers have typically purchased. PROS Smart CPQ makes it easier than ever to navigate today’s increasingly complex product catalogs.
“Companies know firsthand that creating great customer experiences in today’s marketplace is enabling them to redefine the competitive playing field,” said PROS Chief Marketing Officer Patrick Schneidau. “Organizations are looking for new ways to combat global economic headwinds and empower their sales teams to personalize buying experiences for customers across all of their channels. PROS data science-driven cross sell enables sales reps to instantly identify which additional products their customers are most likely to purchase, and to realize their revenue and profit potential.”
Smart CPQ: Turns CRM investments into a revenue and profit engine
Capture lost revenue opportunities: In today’s complex selling climate, sales teams often miss opportunities to cross-sell the full complement of their product offerings, which results in revenue leakage and missed quota. With PROS data science-driven prescriptive recommendations, Smart CPQ guides sales reps to provide customers with comprehensive cross-sell recommendations so they’re not missing opportunities. Sales teams that leverage cross-sell have an added advantage to improve the customer buying experience, maximize their sales performance and meet their quota obligations.
Eliminate costly catalog maintenance requirements: Companies face burdensome and costly administrative processes to maintain their product catalogs, and to ensure they have the most current and comprehensive cross-sell product relationships. PROS Smart CPQ now automates the cross-sell process by intelligently creating the cross-sell relationships for complementary products that are frequently purchased together, eliminating the need for costly and time-consuming manual updates.
Easily identify cross-sell relationships: Sales reps spend untold hours searching through product catalogs to identify complementary cross-sell offers or rely on rule-based recommendations relationships that are typically incomplete and error-prone. PROS Smart CPQ, with its data science-driven insights, analyzes customer purchasing behavior based on prior buying history and customer segmentation. Customers receive tailored recommendations based on what similar customers have purchased, which improves their buying experience.
PROS Holdings, Inc. (NYSE: PRO) is a revenue and profit realization company that helps B2B and B2C customers realize their potential through the blend of simplicity and data science. PROS offers cloud solutions to help accelerate sales, formulate winning pricing strategies and align product, demand and availability. PROS revenue and profit realization solutions are designed to allow customers to experience meaningful revenue growth, sustained profitability and modernized business processes. To learn more, visit pros.com.
This press release contains forward-looking statements, including statements about the functionality and benefits of revenue and profit realization 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 and profit realization software and its current expectations of the benefits of revenue and profit realization 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 and profit realization 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 and profit realization 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.
1 Forrester Research, “Death of a (B2B) Salesman” by Andy Hoar, April 13, 2015.