Partner Relationship Management (PRM)
Encyclopedia
Partner relationship management (PRM) is a system of methodologies, strategies, software, and web-based capabilities that 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 partner and customer contact database, and the notion of a partner portal which allows partners to login and interact with a vendor's sales opportunity database and obtain product, pricing, and training information.
There are a number of solution providers who offer PRM software to manufacturers who rely heavily on channel/indirect sales
, including:
Vendors who implement a PRM solution are typically motivated by a need to reduce the financial overhead and hassles associated with maintaining a direct sales organization. They rely on regional resellers to find, educate, and sell to end-customers. Unlike CRM
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
Business partner
Business partner is a term used to denote a commercial entity with which another commercial entity has some form of alliance. This relationship may be a highly contractual, exclusive bond in which both entities commit not to ally with third parties...
. 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
Content management system
A content management system is a system providing a collection of procedures used to manage work flow in a collaborative environment. These procedures can be manual or computer-based...
, a partner and customer contact database, and the notion of a partner portal which allows partners to login and interact with a vendor's sales opportunity database and obtain product, pricing, and training information.
There are a number of solution providers who offer PRM software to manufacturers who rely heavily on channel/indirect sales
Value-added reseller
A value-added reseller is a company that adds features or services to an existing product, then resells it as an integrated product or complete "turn-key" solution...
, including:
- Channeltivity
- RelayWare
- Salesforce.com
- SAP
- Treehouse Interactive
- The Planet Group
Vendors who implement a PRM solution are typically motivated by a need to reduce the financial overhead and hassles associated with maintaining a direct sales organization. They rely on regional resellers to find, educate, and sell to end-customers. Unlike CRM
CRM
- Sales and marketing :* Customer relationship management, processes implemented by a company to handle its contact with its customers* cause-related marketing, a type of marketing* Courtesy reply mail, a type of business mail- Companies and institutions :...
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
- MDFMarket development fundsMDF or Market Development funds are monetary funds given by a manufacturer's sales or marketing department to help a partner/reseller/distributor sell its products or to market the manufacturer's brand....
Request Programs - Training, CertificationCertificationCertification refers to the confirmation of certain characteristics of an object, person, or organization. This confirmation is often, but not always, provided by some form of external review, education, assessment, or audit...
, and AccreditationAccreditationAccreditation is a process in which certification of competency, authority, or credibility is presented.Organizations that issue credentials or certify third parties against official standards are themselves formally accredited by accreditation bodies ; hence they are sometimes known as "accredited...
Automation - DealQualified prospectAn qualified prospect is an organization which has expressed the need for the products or services of the seller.There is much debate in the sales profession as to what constitutes an actual "qualified" prospect...
Registration Programs - Indirect Sales PipelineSales processA sales process, also known as a sales tunnel or a sales funnel, is a systematic approach to selling a product or service. A growing body of published literature approaches the sales process from the point of view of an engineering discipline .Reasons for having a well thought-out sales process...
Reporting - Joint Business PlanBusiness planA business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals....
ning - RewardRewardA reward may refer to:*Bounty , reward, often money, offered as an incentive*Reward website, website that offers rewards for performing tasks-Science:...
and Loyalty ProgramLoyalty programLoyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially beneficial to the firm....
s - Content LibraryDigital libraryA digital library is a library in which collections are stored in digital formats and accessible by computers. The digital content may be stored locally, or accessed remotely via computer networks...
See also
- Customer relationship managementCustomer relationship managementCustomer relationship management is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing,...
(CRM) - Extended relationship management (XRM)