How to Eradicate the Challenge of Managing Channel Data
We have become prolific in evaluating the end-result of an effective channel data management system.
Scottish writer and physician, Arthur Conan Doyle, creator of the fictional character Sherlock Holmes, once famously said,
“It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.”
Did you get chills?
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Although recorded in the late 19th century, Sir Doyle’s poignant words of wisdom couldn’t resonate more eerily relevant than today.
In the contemporary landscape of corporate enterprise, inefficient use of information and/or Big Data is a problem that goes widely unknown. Our decision-making is no longer based on the due diligence of proper evaluation. However, these days our decisions are supported by our preconceived ideologies of focusing solely on monetary results.
In the channel, where the aggregation, timeliness, and cleanliness of information serves an imperative purpose—the challenges of proper and effective channel data management are extraordinarily high.
Main Challenges Associated with Effective Channel Data Management
Properness of Scalability
The plethora of a company’s channel partners is the main culprit on this issue. Manufacturers simply don’t have the manpower, nor the software to promptly or accurately process data for an effective channel data management outcome. Each channel partnership is unique. Therefore, each channel partnership is compounded with erroneous submissions of rebated claims, the tardiness of partner compliance, EDI complications, and most importantly, lack of submitted partner-data and program interaction.
The channel is engulfed with technical jargon, vague program incentive guidelines, manual errors, etc. The high risk of implementing unclean data into the infrastructure of a business’ decision has caused many manufacturers to avoid the constructive use of data to their advantage. Therefore, companies have to deploy an unrealistic surplus of overhead costs if they hope to eradicate the threat of unclean data.
How to Constructively Implement Data into Business’ Insight?
Hiring an External PRM Provider
Partner Relationship Management providers give manufacturers the most cost-effective option for acquiring and utilizing data. Companies, such as Computer Market Research, provide the software that gives your team the most intuitive data on the planet.
Why waste money on mismanagement of data? Thanks to manual processes, when CMR has pre-engineered its Partner Portal platform to precisely fit into your unique business infrastructure? At CMR, we automatically streamline and organize your data from all channel partners into a portal. This data is then instantly ready to turn information into insight, and insight into action.