Partner relationship management (PRM), used especially in IT and cybersecurity industries,
[, accessed 17 January 2021] is a system of methodologies, strategies,
software
Software consists of computer programs that instruct the Execution (computing), execution of a computer. Software also includes design documents and specifications.
The history of software is closely tied to the development of digital comput ...
, and
web-based
A web application (or web app) is application software that is created with web technologies and runs via a web browser. Web applications emerged during the late 1990s and allowed for the server to dynamically build a response to the request, ...
capabilities which help a
vendor
In a supply chain, a vendor, supplier, provider or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. Today, these term ...
to manage
channel partner relationships. The most common types of channel partners include resellers, distributors, independent software vendors, or affiliate partners like
influencers
A social media influencer, or simply influencer (also known as an online influencer), is a person who builds a grassroots online presence through engaging content such as photos, videos, and updates. This is done by using direct audience intera ...
.
According to a 2023 report, "The 12 PRM Providers that Matter Most and How They Stack Up", by Forrester, the strongest performers are
Salesforce
Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides applications focused on sales, customer service, marketing automation, e-commerce, analytics, artificial intelligence, and ap ...
, Zift Solutions, Magentrix, Impartner, ZINFI Technologies, Mindmatrix and 360insights.
The general purpose of a PRM is to enable vendors to better manage their partners through the introduction of reliable systems, automated processes, optimization tools, 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 a partner portal which allows partners to log in and interact with a
vendor
In a supply chain, a vendor, supplier, provider or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. Today, these term ...
'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.
PRM tools
Partner relationship management tools available include:
*
Market development funds
Market is a term used to describe concepts such as:
*Market (economics), system in which parties engage in transactions according to supply and demand
*Market economy
*Marketplace, a physical marketplace or public market
*Marketing, the act of sat ...
(MDF) request programs
* Training,
certification
Certification is part of testing, inspection and certification and 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 attestatio ...
, and
accreditation
Accreditation is the independent, third-party evaluation of a conformity assessment body (such as certification body, inspection body or laboratory) against recognised standards, conveying formal demonstration of its impartiality and competence to ...
automation
* Deal registration programs, under which vendors register the partner who has brought them a potential deal with a
qualified prospect as their intended or preferred channel for a subsequent sale, allowing the registered partner a discount on the sale price. Programs are sometimes criticized for their complexity
* Indirect
sales pipeline
Sales process engineering is the systematic design of sales processes done in order to make sales more effective and efficient..
It can be applied in functions including sales, marketing, and customer service.
History
As early as 1900–1915, ...
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 ...
ning
*
Reward and
loyalty program
A loyalty program or rewards program is a marketing strategy designed to encourage customers to continue to shop at or use the services of one or more businesses associated with the program.
Single-company vs. coalition programs
Loyalty progr ...
s
*
Content library
* Partner marketing automation tools
Trends
Gartner reports that PRM applications 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. It's also grown steadily due to the recent trend towards a strategic partner-first approach at companies like Dell and others.
See also
*
Channel partner A channel partner is a company that partners with a manufacturer or producer to market and sell the manufacturer's products, services, or technologies. This is usually done through a co-branding relationship. Channel partners may be distributors, v ...
*
Customer relationship management
Customer relationship management (CRM) is a strategic process that organizations use to manage, analyze, and improve their interactions with customers. By leveraging data-driven insights, CRM helps businesses optimize communication, enhance cus ...
*
Supplier relationship management
Supplier relationship management (SRM) is the systematic, enterprise-wide assessment of suppliers' strengths, performance and capabilities with respect to overall business strategy, determination of what activities to engage in with different su ...
*
Facility management
Facility management or facilities management (FM) is a professional discipline focused on coordinating the use of space, infrastructure, people, and organization. Facilities management ensures that physical assets and environments are managed effe ...
*
Software as a service
Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...
References
{{DEFAULTSORT:Partner Relationship Management (Prm)
Partnerships
Supply chain management
Business software