Here Are Some Questions Every Vendor Needs to Ask the Partner Relationship Management Software PRM Provider Before Employment.
For b2b enterprises stuck in the dark ages of channel managerial processes—in-house productivity, partner loyalty, partner satisfaction, accurately evaluated incentive programs and fast turnaround time greatly suffer. The intuitive and robust capabilities of many of today’s automated PRM provider have transformed the modern landscape of b2b channel relations.
Companies in which fail to implement SaaS services, such as Computer Market Research, into their channel partner infrastructure risk more than financial constraints or lost opportunities. They face market extinction.
But just because you’re late to the party doesn’t mean the doors have closed just yet.
Employing the right SaaS (software as a service) vendor takes time, as it’s confusing—entrenched with jargon-laced terminology, vague benefits, complex guidelines and mandates radical modification from traditional channel management duties.
But nonetheless, PRM provider is a universally critical component of today’s and tomorrow’s b2b environment. Therefore, it’s imperative to remove any preconceived derogatory beliefs regarding automated channel management. Also, aim to adopt a more open-minded rationale that acknowledges ingenuity. Make the necessary changes in order to propel business needs and prosperity.
With that said, it’s crucial to weigh your options to carefully employ the right SaaS provider that best suits your ethical standards, unique industry, and overall b2b goals.
For example:
- What do you hope to achieve when employing a specific cloud-based SaaS vendor?
- Are you motivated to explore untested waters of the marketplace (with new partners)?
- Are you attempting to minimize the list of your current channel partners for a more direct go-to-market strategy?
- What traditional processes worked successfully and which internal managerial methods do you deem most urgent to improve?
*** Questions every vendor needs to know about the PRM provider before employment:
1.) How Versatile and Relevant is the SaaS’ SLA
Although exact logistics of SLA (service level agreements) differ greatly between provider, it’s essential to thoroughly review the fine print presented within the documentation of the SLA. In terms of best practices for employing the right cloud-based provider, a careful and thoughtful consideration of the provider’s preliminary service-expectations is not only important, it should represent the make-or-break details of whether or not a partnership is suitable to your business.
2.) Does the PRM Offer Incentive Rewards of Configurable, Customizable and Real-Time Data
The competitive nature of the in the marketplace is bustling with uncertainty and frustration.
Even the slightest perk a channel competitor offers a lead can leave you in the dark and cloudy trenches of the unforgiving funnel of the indirect sales channel. That’s why reliable, intuitive and collaborative features implemented into a PRM’s partner portal infrastructure is one of the most important characteristics of a successful partnership. Partners are savvier than ever, so, comprehensive visibility within the sales cycle (during Co-op/MDF, Spifs, deal registration, ship and debit, etc.) is not enough.
Partners want:
- mobile access
- tangible data analytics
- instant notifications
- an easy-to-navigate interface
- seamless claim approval (for partner submissions)
- quick turnaround time (e.g., debit rewards for partners)
- and the eradication of channel conflict
3.) Do the PRM’s Features Align with your Channel Partners’ Go-To-Market Objectives?
What makes a certain PRM provider attractive to vendors is a substantial catalog of unique and profitable reward programs. But no matter how diverse, lucrative or robustly capable the programs may be, some partners may not seem them as relevant to their business.
As the old saying goes, “Beauty is in the eye of the beholder”. Or, “One man’s trash is another man’s treasure”. It’s imperative to remember that incentive programs are relative to a partner’s needs and ambitions. Take a closer look inside what is it your channel partners are looking for (incentive-wise). Subsequently, you will have a better understanding of which PRM provider best suits your channels’ preferences.
The PRM Provider your Channel Partner Always Envisioned
Founded in 1984, Computer Market Research (CMR) brings years of experience into the indirect channel sales industry. Through our state-of-the-art automated software, businesses can amplify their B2B marketing efforts via a clear and concise platform that robustly and intuitively assists the managerial process of channel partnerships. From optimizing trade promotions to customizing unique program guidelines, from building effective distribution channels to establishing transparent and objective B2B communication—CMR helps businesses maximize their marketing efforts with distributing partners that are built around a common goal of success. Our cost-effective SaaS application is the perfect tool for any business looking to strengthen their bond with channel partners.