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Relayware Partner Relationship Management

The Benefits of Partner Relationship Management and Partnering Automation

If you type into Google “Define Partner Relationship Management,” at it’s most basic level PRM is considered to be “a system of methodologies, strategies, software, and web-based capabilities that help a vendor to manage channel partner relationships.” This is a very simplistic view, and does not reflect what PRM solutions offer today.

SearchCRM goes a bit further to define PRM as, “Partner relationship management (PRM) is a business strategy for improving communication between companies and their channel partners. Web-based PRM software applications enable companies to customize and streamline administrative tasks by making shipping schedules and other real-time information available to all the partners over the Internet….”

Here at Relayware, we explain that today’s PRM is partnering automation -- the next wave of channel management innovation, which drive more results from your indirect channel partners. Partnering automation software helps companies recruit, on-board, optimize and analyze their indirect channel partner with sophisticated automated processes. It also makes it easy for vendors to nurture their channel partners with personalized and useful information from the nurturing stage to onboarding to training all the way through the sales cycle. This automation generates significant revenue from all partners and provides an excellent return on the channel investment.

So, let’s go over the benefits of implementing this type of solution. PRM and partnering automation solutions enable you to:

  • Manage your partners as a portfolio, enabling you to minimize duplication of resources and manage your risk
  • Create guidelines for sales and marketing
  • Fine-tune your business proposition to the partner level
  • Strengthen your brand
  • Maximize your business proposition for a particular partner
  • Manage complex channel programs
  • Provide marketing-enabling and co-marketing funnel management functions
  • Oversee pipeline management
  • Administer business rules and process management. That is customization without having to resort to coding
  • Supervise tier management
  • Measure your partners' performance using multiple criteria
  • Engage with your partners via mobile and social communications
  • Integrate with CRM, ERP, CMS and LMS
  • Maintain costs, as the cost of an in-house is expensive
  • Be easy to do business with from your partners’ POV

So, when you are considering trying to manage your partners using spreadsheets or a CRM solution, know the benefits of a built-to-purpose solution that will allow you to focus on the issues at hand – enabling your partners so they maximize the revenue generation.