PROS named Challenger in Magic Quadrant for CPQ apps
Provider of omnichannel sales pipeline solutions PROS has been recognised as a Challenger by Gartner in the 2020 Magic Quadrant for Configure, Price and Quote (CPQ) Application Suites.
“In 2019, the CPQ application market grew by 15.5%, to an estimated $1.42 billion. It remains highly competitive and fragmented, with no vendor taking more than a 17% share,” the Magic Quadrant report states.
PROS is the only vendor positioned within the Challengers quadrant based on completeness of vision and ability to execute, and fifth highest of the 17 vendors in the latter.
“To us, being positioned as a Challenger in this year’s Magic Quadrant is a great honour,” says PROS president and chief executive officer Andres Reiner.
“We believe this positioning is clear evidence of our ability to execute and align with the needs of today’s B2B organisations, embracing digital selling solutions that accelerate sales cycles and deepen customer relationships in order to remain competitive in the market.”
Configure, price and quote (CPQ) applications enable sales organisations to automate and optimise the creation of quotes and the capture of orders and are part of an overall technology ecosystem enabling the quote-to-cash business process.
They ensure sales organisations can sell complex products or services more quickly in highly personalised ways to meet customer expectations.
PROS Smart CPQ is part of the PROS Platform, a SaaS solution set that enables businesses to utilise digital selling, to “maximise revenue, capture maximum customer wallet-share and offer a better customer buying experience across all go-to-market channels,” a statement from the company claims.
“In this post-COVID era, digital selling capabilities are now essential to meet the needs of today’s buyer,” adds PROS solution strategy director Loretta Faluade.
“PROS delivers intelligent quote-to-cash capabilities that support fast and personalised selling experiences through direct or indirect sales teams and through eCommerce, helping drive increased revenue and improved business outcomes.”
The report notes PROS strengths as its usability and performance with an intuitive user interface, ability to scale for enterprise, and states it “ delivers more AI-driven guided selling capabilities than any other product evaluated for this Magic Quadrant”.
Under cautions, it notes that capabilities for subscription sales and management are limited, and it lacks some order management and pricing capabilities.
“PROS is a Challenger in this Magic Quadrant, due to its product capabilities and increasing market presence,” the report states.
“The PROS Smart CPQ product is best suited to the selling of manufactured goods, especially when integrated with PROS’s price optimization solutions. The direct sales channel is supported by integrations with Microsoft Dynamics 365 (for CRM) and Salesforce Sales Cloud … PROS Smart CPQ offers one of the best examples of a punch-out quoting UI that can be embedded into a reseller’s web portal.”