What is Partner Relationship Management (PRM)?

Peter Ganza, Director of Marketing at Magentrix, recently sat down with our resident Channel Coach, Paul Bird, to answer some of the most common questions individuals have been asking online.

What is Partner Relationship Management (PRM)?

Paul Bird: “PRM - this is about partner relationship management. A little different than customer relationship management because you’re specifically working with channel partners. So this typically looks like a partner portal - a place for those channel partners to come into this portal and start interacting with lead data, opportunity data, take certification, training courses and then have the ability to communicate with channel management staff and we keep all this in one location. Partner management has grown significantly over the last couple of years and now there are a number of organizations that dedicate their software technology purely for partner management.”

Whether you are a technology provider, manufacturer, supplier or distributor, vendors in your industry are growing revenue via indirect channels. And it's mainly because growing companies can scale revenue via partners faster and more efficiently than direct sales.

In the first post of this series we covered what is channel sales where we noted the World Trade Organization’s statistic that 75% of world trade flows through indirect channels. A partner relationship management portal can help remove barriers and bridge the gaps with your channel partners.

Magentrix PRM provides the technology platform you need for end-to-end partner management. With partner signup, lead registration, opportunity collaboration, sales enablement, training and support, you can give your partners the training and tools they need to succeed.

Do you have anything to add to this topic? Feel free to share and comment below. What does your definition of PRM look like?