PROS Named a Leader in the IDC Marketscape for B2B Price Optimization Applications
Future Roadmap, Integration with Existing Systems and User Interface Are Identified as Key Strengths of PROS’ Pricing Strategy Solutions
PROS, a provider of AI-powered solutions that optimize selling in the digital economy, announced that it has been named a Leader by IDC in the IDC MarketScape for Worldwide B2B-Focused Price Optimization Applications.
“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.”
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.”