PROS Named a Leader in the 2021 Gartner® Magic Quadrant™ for Configure, Price and Quote Application Suites

Rhea-AI Summary

PROS (NYSE: PRO), a SaaS provider, has been recognized as a Leader in Gartner’s 2021 Magic Quadrant for Configure, Price and Quote (CPQ) Application Suites. This recognition is attributed to PROS' innovative product vision and extensive CPQ capabilities. The Gartner report noted a 14.1% growth in the CPQ market, reaching approximately $1.44 billion in 2020. PROS aims to use this recognition to bolster its commitment to AI-driven sales automation, enhancing omnichannel sales experiences. The PROS Platform's AI features support dynamic pricing, cost modeling, and demand forecasting.

Positive

• PROS recognized as a Leader by Gartner in the 2021 Magic Quadrant for CPQ Application Suites.
• The CPQ market grew 14.1% to an estimated $1.44 billion in 2020, indicating robust demand for solutions.
• PROS Platform offers AI capabilities that enhance pricing, demand forecasting, and sales efficiencies.

Negative

• None.

PROS Recognized for Completeness of Vision and Ability to Execute

HOUSTON--(BUSINESS WIRE)-- PROS^® (NYSE: PRO), a provider of SaaS solutions optimizing shopping and selling experiences, today announced that it has been recognized as a Leader by Gartner, Inc. in its 2021 Magic Quadrant for Configure, Price and Quote (CPQ) Application Suites.

PROS believes its Leader positioning is a result of the company’s clear product vision for the PROS Platform as well as deep and broad CPQ capabilities that are proven at enterprise scale, making it the most strategic vendor in the market today. PROS Smart Configure Price Quote has an intuitive end-user interface and features a comprehensive product catalog, market-leading pricing, and superior AI-guided selling capabilities.

“We view this Leader position as a phenomenal accomplishment and a direct result of the passion PROS has for delivering the most innovative solutions to our customers and the market,” said PROS President and Chief Executive Officer Andres Reiner. “I could not be prouder of our teams and the CPQ development we are driving so that every business can adopt and execute true omnichannel sales experiences that meet customers’ expectations every time, all the time in every channel.”

Gartner states that “[c]onfigure, price and quote application suites enable sales organizations to automate and optimize the creation of quotes and capture of orders.” These applications ensure sales organizations can sell complex products or services quickly and consistently, regardless of channel, and in highly personalized ways to meet customer expectations. Gartner further indicates that, “[i]n 2020, the CPQ application market grew by 14.1% to an estimated $1.44 billion,” as part of the accelerated adoption of B2B digital commerce solutions.

PROS Smart Configure Price Quote is part of the PROS Platform and enables organizations to constantly adapt to volatile market conditions, with proven AI-based capabilities for deep demand forecasting, cost modeling, dynamic pricing and more to continuously feed daily decision-making and longer-term business strategy. The PROS Platform helps eliminate barriers between stakeholders in the selling process to collaborate on a customer offer and drive it to a close while accelerating pricing and selling efficiencies to fuel profitable revenue growth.

“We believe this Gartner Magic Quadrant further validates our CPQ strategy and execution, including our keen and consistent focus on customer and market requirements,” said Greg Davoll, VP, Product Management at PROS. “We remain committed to delivering AI-driven sales automation as a key element of the PROS Platform so that our customers can further simplify and accelerate their business-critical omnichannel initiatives, regardless of market dynamics.”

To access a complimentary copy of the October 2021 Gartner Magic Quadrant for Configure, Price and Quote Application Suites, click here.

Gartner, Magic Quadrant for Configure, Price and Quote Application Suites, Mark Lewis, Dayna Ford, 21 October 2021.

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About PROS

PROS Holdings, Inc. (NYSE: PRO) is a leading provider of SaaS solutions that optimize shopping and selling experiences. Built on the PROS Platform, these intelligent solutions leverage business AI, intuitive user experiences and process automation to deliver frictionless, personalized purchasing experiences designed to meet the real-time demands of today’s B2B and B2C omnichannel shoppers, regardless of industry. To learn more, visit www.pros.com.

Forward-looking Statements

This press release contains forward-looking statements, including statements about the functionality and benefits of SaaS shopping and selling optimization solutions 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 AI-powered solutions and its current expectations of the benefits of SaaS shopping and selling optimization solutions 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 SaaS shopping and selling optimization solution 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 SaaS shopping and selling optimization solutions 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005873/en/

Media Contact:

Tricia Nugent-Dawal

pros@highwirepr.com

914.774.2708

Source: PROS Holdings, Inc.

FAQ

What is PRO's recognition in the Gartner Magic Quadrant 2021?

PROS has been recognized as a Leader in Gartner’s 2021 Magic Quadrant for Configure, Price and Quote (CPQ) Application Suites.

How much did the CPQ application market grow in 2020?

The CPQ application market grew by 14.1% in 2020, reaching approximately $1.44 billion.

What capabilities does the PROS Platform offer?

The PROS Platform includes AI-driven features for dynamic pricing, cost modeling, and demand forecasting.

Who commented on PROS' Gartner Magic Quadrant position?

Andres Reiner, President and CEO of PROS, expressed pride in the team's innovative solutions.

What is the significance of being a Leader in the Gartner Magic Quadrant?

Being a Leader recognizes PROS' ability to execute and the completeness of its vision in the CPQ market.