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 not based on the due diligence of proper evaluation, but rather, supported by our preconceived ideologies of focusing solely on monetary results.
In the channel industry, 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, which means 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 industry 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. Companies have to deploy an unrealistic surplus of overhead costs if they hope to eradicate the threat of unclean data—money which most companies wouldn’t deem necessary to lose.
How to Constructively Implement Data into Business’ Insight?
Hiring an External PRM Provider
Software as a Service or Partner Relationship Management providers gives manufacturers the most cost-effective option for acquiring and utilizing data that result in an effective channel data management. Companies, such as Computer Market Research, have the software engineering prowess to give your team the most intuitive, smartly accumulated 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 insightful data from all channel partners into a clear and concise, aggregated, organized and cleaned portal that is instantly ready to turn information into insight, and insight into action.