Why PROS Was Named a CPQ Leader in the 2022 Gartner® Magic Quadrant™ for the Second Consecutive Year
We’re honored that PROS has been named a Leader in the annual Gartner Magic Quadrant for Configure, Price and Quote Application Suites for the second year in a row.
Why are these reports important to businesses interested in CPQ? From our point of view, it’s because they are independent, provide an objective evaluation of vendors in the CPQ market, and position the vendors for their Ability to Execute and Completeness of Vision within the industry. So how exactly did we fare?
Without further ado, let’s take a look at both reports.
The Magic Quadrant and Critical Capabilities
The Gartner Magic Quadrant for Configure, Price and Quote Application Suites is a snapshot-in-time evaluation of vendors in the CPQ market. As the report states, “In 2021, the CPQ application suite market grew by 14.1% to an estimated $1.52 billion. This Magic Quadrant evaluates 15 vendors to help application leaders find the best one for their needs.”
The Gartner Critical Capabilities for CPQ provides deeper insight into providers’ product and service offerings by extending the Magic Quadrant analysis. PROS is uniquely positioned to best deliver on those capabilities and is ranked among the highest 4 vendors in 4 out of 6 Use Cases.
Here’s why we believe we were recognized as a Leader based on the Magic Quadrant and Critical Capabilities findings.
We’re a great fit for manufacturers.
Since its inception, CPQ has always been geared toward manufacturers; that’s largely due to its support for streamlining the quoting process for complex manufacturing. PROS was ranked within the 3 highest scoring vendors for the Complex Manufacturing Use Case (3.45/5) by Gartner in their Critical Capabilities report.
We’re a great fit for distributors too.
While distribution has largely been an afterthought in the market, PROS is different. Distributors deal with large quote sizes and negotiate customer pricing agreements.
We are the best-fit CPQ solution for omnichannel selling.
The Critical Capabilities report clearly emphasizes omnichannel selling by having specific use cases for Direct, Channel, and Self-service. PROS is within the 4 highest scoring vendors of each Use Case ranking and even ranks #1 in Channel Sales (3.8/5) and #2 in Direct Selling (3.74/5).
Businesses that need to support omnichannel sales motions should look no further than PROS Smart Configure Price Quote.
PROS has the most robust AI capabilities in the market.
While most CPQ vendors have focused on the core blocking and tackling of digitizing the sales process with a focus on streamlining and creating efficiencies, they've almost all neglected any sort of investment in their products that would actually make sellers better at their jobs.
PROS Smart Configure Price Quote —on the other hand—features embedded capabilities to guide the seller to the most optimal (revenue or margin) price point, surfaces relevant cross- and upsell recommendations, and even highlights strategies to prevent customer churn. Where others have neglected capabilities to make sellers better at what they do, PROS has doubled down on helping sellers outperform, incorporating key requirements for any company looking to drive profitable growth. We believe that only by infusing more AI in CPQ can true innovation occur.
The Takeaway
The Magic Quadrant is helpful for anyone looking to understand the CPQ market and narrow down a list of potential vendors, but anyone looking to license a CPQ solution needs to go even further. Thankfully, leveraging the Critical Capabilities report to see how each of the vendors ranks in the various Use Cases that mean the most to your business can help you pinpoint the exact vendor that meets your business needs. Whether a manufacturer or distributor, selling direct or in an omnichannel fashion, or simply looking to outperform the competition with actionable intelligence, we believe PROS Smart Configure Price Quote leads the way. We are proud to be a Leader for the second year in a row and we’d love the chance to show you why.
Ready to see what PROS can do for you? Schedule a demo to learn more.
Gartner, Magic Quadrant for Configure, Price and Quote Application Suites, Mark Lewis, Dayna Radbill, 8 November 2022. Gartner, Critical Capabilities for Configure, Price and Quote Application Suites, Mark Lewis, Dayna Radbill, 9 November 2022. GARTNER is a registered trademark and service mark and MAGIC QUADRANT is a registered trademark 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.