Channel Management Software: PRM

The relationship between a channel partner and a vendor is one that needs constant attention. A steady line of communication must be established. Insight into the partner’s sales productivity is important for any vendor who wants to properly allocate their supply chain for a more efficient sales chain. This is the only way they can maximize their resources for the highest possible return of investments. The invention and rise of channel management software is a direct result of this need. Also, the world’s current economic state has sped up this business strategy trend.

The Global Economic Situation and its Effect on Business
Businesses are going online. This is one of the major effects of the global economic downturn. However, this trend has long started to gain momentum way before the loan mortgage crises that started this whole global downturn. There is simply a lot of new space to be conquered online. The information technology revolution has created a lot of new opportunities for businesses. The software industry for example has fully benefited from this. Startup software service companies are now able to set up distribution channels online and partner with other online channels. This extreme new expansion to distribution networks has also created a greater need for channel organization tools and applications that would automate and streamline the whole process.

What is PRM?
With so many business partners in line, companies need PRM or partner relationship management software. This type of channel management software is similar to CRM (the C stands for customer). This application has become popular especially after the widespread recession that affected so many technology centered businesses around the world. PRM creates a faster way for vendors to gather information from their partners. This is one of the most important steps that must be taken in order to improve partner relations. Without enough insight into the activities of one’s channels, a vendor will not be able to create successful programs that will help the channels sales and marketing.

The PRM is also very important since it becomes the primary mode of communication between the vendor and the channels. Sending out marketing materials, updated price lists, program details, and technical information on the product becomes much easier with the help of a good partner relationship management tool. It is all about fulfilling and understanding the needs one’s channel partners. It is also through this application where the partners can send their reports on sales activities to the vendor. It is a complex system that creates better trust and more interaction between the partner and the vendor.

This channel management software has been created to take care of difficult, intertwining systems that center on helping out the business processes along the entire chain of distributors and sellers up to the end users or customers. Businesses especially in the technology sector that desire to create faster performing clouds have all started to integrate this software to their strategies and it has proven to be of great help especially in the current low economic climate.