For many industries that rely on indirect sales channels, managing their partners effectively is a frustrating challenge. Most of these organizations develop partner programs to structure policies and procedures that enable them to scale revenues through these partners more rapidly and cost-effectively than building a direct sales operation. Technology solutions for partner relationship management (PRM) are rapidly solving the problems associated with scaling partner programs.
PRM software combines many channel management best practices for sales enablement, sales process management and partner performance management to automate an end-to-end business process. From channel partner onboarding, training and certification to lead and opportunity management, joint business planning and marketing development funds (MDF management, PRM tools have become essential in running successful channel management programs.