Partner management software, sometimes called partner relationship management (PRM), provides a private portal for each partner, where they can provide businesses with tools to track sales partners and affiliates, and for those partners to communicate with and receive support from the business.
PRM serves to distribute opportunities and funds fairly, keep the partners on-message with the brand they are selling, track activities and success, and assure the partners that the company is not cannibalizing their leads.
Depending on the relationship, they also need to track other details such as compliance to laws, contractual terms and conditions, or incentive and loyalty rewards.
Partner management software can be used by any department of a company that does business with third-party contractors (e.g., external warehouses or distribution centers, transportation companies, professional services companies, and consultants).
Organize channel partners in a secure directory
Track partner agreements and assist with onboarding and renewals
Monitor deals, marketing, and overall performance related to each partner
Provide tools for assisting partners in customer support
Selling your product or service using an internal sales staff remains a win for your brand. With certified partner sales, though, you can multiply the potential users of your technology with each new channel partner.
Channel sales have made a difference for thousands of companies both big and small. The applications in this category enable your brand to find and collaborate with these invaluable business partners. Empowering your sales team with PRM software can impact your company in every aspect, from revenue to reputation.
In addition to catalyzing your future partner relationships, PRM software assists with the complete oversight of these new sales channels as they develop. As your sales increase through these partner relationships, so will the responsibilities of monitoring your growing portfolio of customers.
PRM solutions facilitate a steady flow of communication with service partners so you have a finger on the pulse of your customer experience and can respond accordingly to issues and feedback. With the enablement features and integrations included with these solutions, you can assemble and maintain a world-class group of channel partners and reach more customers than ever before.
PRM software makes channel sales enablement possible with features designed for both technology companies and their partners. The following are some specific features you may encounter as you research the software products in this category.
Successful partner sales begin with a quality list of leads, gathered from the disparate networks of each new partner and the original company themselves.
PRM software assists with finding the most valuable partners for your particular needs and establishing a line of communication.
Monitoring partner activities is an essential aspect of partner management, from the customers they are signing and supporting, to the marketing tactics they are applying.
A secure partner portal offered by some products in this category provides partners with the data and product updates required to best sell and support a company's products.
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