Partner Relationship
Management (PRM) is a business term that is used to describe the
methodology and strategies for managing relationships between vendors and their
channel partners.
PRM is often compared to Customer Relationship Management (CRM), and the
difference between the two is often confused in the marketplace. In reality,
they are quite different and serve two uniquely distinct audiences. A CRM has
features and functions designed to acquire, manage and increase the number of
customers. A PRM is designed specifically for engaging, managing and developing
your business partners. The following diagram is designed to show the
correct application of these technologies within a two-step distribution
model.
A PRM system can be
looked at as both a technology solution and a business philosophy. While there
is no universally accepted definition for what constitutes a complete PRM
solution, there is consensus on the core functional components of PRM.
Generally speaking,
partner relationship management includes:
- Partner recruitment and on boarding
- Deal/lead registration
- Incentives and rewards management
- Market development fund (MDF) support
- Training and certification
- Co-branded marketing support
- Business partner
communication and alignment
Our EU partner
http://www.cream-europe.eu/en/ is in charge of Partner Relations Management by web based sharing of all information and actions and resources for each project
