Partner relationship management (PRM), used especially in IT industries,, accessed 17 January 2021 is a system of methodologies, strategies,

software Software is a set of computer programs and associated documentation and data. This is in contrast to hardware, from which the system is built and which actually performs the work. At the lowest programming level, executable code consists ...

, and

web-based A web application (or web app) is application software that is accessed using a web browser. Web applications are delivered on the World Wide Web to users with an active network connection. History In earlier computing models like client-serve ...

capabilities which help a vendor to manage partner relationships. The general purpose of PRM is to enable vendors to better manage their partners through the introduction of reliable systems, processes and procedures for interacting with them. Web-based PRM systems typically include a

content Management System A content management system (CMS) is computer software used to manage the creation and modification of digital content (content management).''Managing Enterprise Content: A Unified Content Strategy''. Ann Rockley, Pamela Kostur, Steve Manning. New ...

, a partner and customer contact database, and the notion of a partner portal which allows partners to log in and interact with a vendor's sales opportunity database and obtain product, pricing, and training information. This helps vendors to streamline processes, as well as to collect and assess data about various stages of the partner sales funnel. There are a number of solution providers who offer PRM software to companies who rely heavily on a PRM solution to stay relevant in their respective industries. Vendors who implement a PRM solution are typically motivated by a need to reduce the financial overhead, automate regular processes, and establish new partnerships to drive channel revenue and scale. Partners may also be integrators or managed service providers. Unlike

customer relationship management Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. CRM systems compile data from a ra ...

systems, which are tailored toward getting an end customer to purchase from you, a PRM system is focused on getting a partner to sell on your behalf. As a result, they commonly offer web-based self-service tools, information, and resources to partner resellers. Tools often include: * Market development funds Request Programs * Training,

Certification Certification is the provision by an independent body of written assurance (a certificate) that the product, service or system in question meets specific requirements. It is the formal attestation or confirmation of certain characteristics of a ...

, and Accreditation Automation * Deal Registration Programs, under which vendors register the partner who has brought them a potential deal with a

qualified prospect A prospect is an organization or potential client who resembles a seller's ideal customer profile (ICP), but has not yet expressed interest in their products or services; accordingly a qualified lead is an organization or potential client which has ...

as their intended or preferred channel for a subsequent sale * Indirect Sales Pipeline Reporting * Joint

Business Plan A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on t ...

ning *

Reward Reward may refer to: Places * Reward (Shelltown, Maryland), a historic home in Shelltown Maryland * Reward, California (disambiguation) * Reward-Tilden's Farm, a historic home in Chestertown Maryland Arts, entertainment, and media * "Rewa ...

and Loyalty Programs * Content Library

Trends

Gartner reports that PRM solutions have mainly been adopted by companies in the hardware technology, software technology, telecommunication, and manufacturing industries. The PRM application market has expanded significantly in the last 10 years, with vendors offering improved end-to-end and point solutions for the management of channel sales partners. Forrester reports, “ e PRM market is growing because more executive teams, as well as channel, marketing, and sales professionals, are recognizing the impact of third-party influencers in getting to new buyers. They are placing trust in PRM providers to act as strategic partners, allowing them to broaden their reach and influence the partner journey in new ways.” Forrester identified the 12 most significant PRM providers as: Salesforce, Magentrix, Allbound, Channeltivity, Mindmatrix, ChannelXperts, Impartner, Oracle, TIE Kinetix, Webinfinity, Zift Solutions, and ZINFI.

References

{{DEFAULTSORT:Partner Relationship Management (Prm) Partnerships Supply chain management Business software

Trends

See also

References