PROS Smart CPQ is a cutting-edge Configure, Price, Quote (CPQ) software designed to revolutionize the sales process by automating and optimizing the configuration, pricing, and quoting of products and services. Here’s a comprehensive overview of what the product does and its key features:
What PROS Smart CPQ Does
PROS Smart CPQ is tailored to streamline and enhance the entire sales cycle, from product configuration to quote generation and order management. It aims to deliver a seamless, consistent experience across all sales channels, including web, mobile, and call centers. This solution is particularly beneficial for businesses that offer configurable products or complex services, helping them to accelerate sales cycles, reduce errors, and improve customer satisfaction.
Key Features and Functionality
Omnichannel Capabilities
PROS Smart CPQ provides robust omnichannel capabilities, allowing sales teams to produce and manage quotes from any device, anywhere. It ensures real-time data synchronization, keeping all quotes up-to-date and accurate regardless of where or how they are adjusted.
Centralized Product Catalog
The software features a centralized product repository that supports multiple attributes, rich content, and 2D/3D product visualizations. This catalog is adaptable for multi-channel use, enabling consistent product information across all sales channels.
Guided Selling and Configuration
PROS Smart CPQ includes guided selling questionnaires and a flexible configuration engine that empowers sales reps to accurately configure complex products without errors. The AI-powered configuration tool provides recommendations for opportunity creation, pricing, discounting, upselling, and cross-selling, all personalized to the customer.
AI-Powered Pricing and Optimization
The solution integrates AI-based price guidance to optimize pricing strategies. It analyzes buying behaviors, customer segmentation, market data, and willingness-to-pay to deliver profitable quotes. This feature helps in accelerating close rates without leaking revenue.
Collaborative Quoting and Sales Agreements
PROS Smart CPQ enables collaborative quoting, allowing for an interactive experience between the seller and buyer. It also includes an optional Sales Agreements feature that streamlines the creation, amendment, renewal, extension, and termination of B2B sales agreements. This feature includes the ability to make mass price changes to existing sales agreements, improving the profitability of customer agreements.
CRM Integration and Approval Workflows
The software is fully integrated with leading CRM platforms such as Microsoft Dynamics and Salesforce, providing a comprehensive customer view and automating opportunity creation. It also supports native approval workflows within these CRM systems.
Subscription Management
PROS Smart CPQ offers advanced subscription management capabilities, supporting recurring subscription products and services. It manages subscription pricing rate plans, including one-time and recurring pricing models, fixed-rate, tiered, and usage-based models. The solution also includes support for subscription lifecycle management.
Advanced Analytics and Performance Metrics
The platform includes integrated analytics charts, such as the Price Waterfall chart, to review profitability immediately. It analyzes deal performance, buyer behavior, and real-time market data to help sales teams make informed decisions and optimize their quoting processes.
Scalability and Efficiency
PROS Smart CPQ is designed to handle large and complex quotes efficiently, supporting up to 100K line items. It automates the quotation and pricing process, reducing errors and saving time. The solution also supports mass quote changes and simultaneous quote collaboration, enabling sales and pricing teams to work together effectively.
In summary, PROS Smart CPQ is a powerful tool that leverages AI, real-time data, and advanced configuration capabilities to enhance the sales process, improve customer satisfaction, and drive revenue growth across various industries, including IT services, manufacturing, and consumer goods.
