As we move deeper into the digital era – and companies such as Amazon continue to disrupt traditional ways of doing business – supply chains and commerce as we know it are rapidly changing right before our eyes. In fact, this week’s headlines reflect yet another knee-jerk reaction to this digital disruption. The CVS and Aetna merger is, in part, a move to remain competitive against the threat of potential new healthcare entrants with a more established e-commerce footprint. While much is written about the displacement caused by e-commerce giant growth, there’s much greater value in examining what makes the “Amazon Effect” so successful.
The first major takeaway is that the dynamic of B2B sales has changed, due in large measure to our experiences as consumers. As a result, the pace of commerce today requires companies to respond to customers across all channels with far greater speed and accuracy using a modern commerce strategy. In a nutshell, modern commerce is the critical sell-side component of the digital transformation that most industries are experiencing today. Modern commerce helps overcome the challenges of outdated, status quo sales processes by establishing frictionless buying experiences that deliver personalized offers across all channels in real time.
As B2C buying habits continue to cement themselves in the B2B world, we’ve witnessed the rise of technologies designed to empower better sales experiences. Savvy companies are approaching modern commerce as an opportunity to pursue deals that would not have otherwise been possible. One such company is the Siemens Building Technologies Division, which recently announced an expanded relationship with PROS, with plans to implement PROS Smart CPQ in 15 countries in the Division’s European region. PROS Smart CPQ leverages advanced machine learning and AI technology to help customers to create personalized and frictionless buying experiences, which is today’s standard for competing and winning sales.
Sebastien Bey, Senior Vice President and Head of Information Technology at Siemens Building Technologies, recently commented on the company’s situation:
“In today’s market, our customers are looking for speed and transparency when they come to us for quotes. That places increased pressure on our sales teams to respond far more quickly and with greater accuracy. PROS Smart CPQ is a strategic differentiator that enables us to respond faster to customers across our markets. With the help of PROS Smart CPQ and our collaboration with PROS, we’re able to provide our sales teams with a flexible quotation structure, personalized texts and predefined templates in a web-enabled user interface. With PROS Smart CPQ, sales teams can deliver high-quality, fast quote returns to meet the demands of these fast-changing markets.”
PROS award-winning modern commerce solutions empower sales teams to instantly create accurate, personalized solutions for each customer to deliver the most profitable and compelling offers. Using artificial intelligence and machine learning, PROS dynamic pricing science provides prescriptive insights into willingness-to-pay at the individual customer level. It gives sales teams the ability to offer the right product at the right price in real time, for every customer. The age of modern commerce has arrived, and the time to act is now, before your competitors beat you to the punch.
About the AuthorMore Content by Sebastian Mamro