Partner Relationship Management (PRM)

Partner relationship management (PRM) is a business strategy for improving communication between companies and their channel partners. We aim to enable companies to customize and streamline administrative tasks by making real-time information available to all the partners over the Internet. 

Partner Map

For any project, all involved partners shall be on board communications and sharing resources to Fund and Build a project

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