PROS Smart CPQ Adds Support for Sales Agreements to Improve Deal Velocity and Further Enable Omnichannel Commerce; Handles Complex Quotes up to 100,000 Line Items with Ease
PROS, a provider of AI-powered solutions that optimize selling in the digital economy, announced PROS Smart CPQ now with support for sales agreement workflows, enabling sales teams to manage the sales agreement lifecycle and quickly create, amend, and extend existing agreements with customers to accelerate the sales process across every channel – direct, partner, and eCommerce. With this update to PROS Smart CPQ, B2B organizations now have a comprehensive quoting platform that improves responsiveness to customer or prospect requests, speeds analysis and delivery of quotes regardless of complexity, and nurtures long-term customer retention through streamlined agreement management.
“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.”
By 2023, industry analyst firm Forrester Research forecasts US B2B sales to equal some $11 trillion dollars’ worth of transactions – 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.
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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.”
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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.
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.