Channel Readiness Blog

Partner Relationship Management: Defining PRM

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Partner Relationship Management (PRM) is the methodology and strategy for improving communication and relationships between companies and their channel partners: dealers, distributors and value-added resellers (VARs) .  The purpose of PRM is to capture, empower, and engage the partner network by offering partner support through a more efficient flow and organization of information in order to enabling the channel partner to be more productive.  When smartly implemented, having a PRM strategy including a practice of continuous improvement and an enabling technology can increase sales, improve margins, lower service and warranty costs, and increase customer satisfaction across an extended enterprise globally while at the same time establishing a powerful on-line community that is engaged to collaborate.

Components of a PRM Strategy:

• Collaboration & Social Networking
• Marketing and Communication Management
• Training and Certification of Employees
• Performance Management

Marketplace Trends.  Why is PRM important?

• 70% of products are sold through partners
• Increasing product and service complexity
• Globalization
• The web being used as a utility
• Shorter product life cycles
• Less time to exploit a first mover advantage
• Buyers are smarter than ever

PRM or Channel Management Software, such as LogicBay's Performance Center, provides a unified application portal (UAP) via a SaaS business model making it easier for Channel Partners to sell and service products more effectively.  Through the cloud, this type of software enables business partners to connect easily, quickly, and globally through a shared infrastructure and what's best a company does not need to be an industry-giant to launch PRM solutions efficiently and cost effectively.

About LogicBay

LogicBay provides technology-enabled Partner Relationship Management (PRM) solutions enabling organizations to engage, manage and develop their dealer networks, leveraging shared knowledge and best practices.  With a focus on the key elements of engagement including collaboration, marketing/communications effectiveness, training and certification and performance management LogicBay deploys powerful on-line communities that empower and connect the extended networks of a dispersed sales function to be able to sell and service products more effectively.  Learn more about LogicBay at www.logicbay.com .

LogicBay’s Partner Relationship Management (PRM) Technology is rich with best practice workflows making it easier for organizations to do business with channel partner re-sellers. The result: More engagement and Mindshare. Greater Efficiency and Cost Savings. Alignment with Channel Partners. And, Performance Improvement for the Entire Sales Enterprise.

	Download this premium white paper to learn Channel Management Best Practices – Make it easy for dealers to do business with you, Heighten dealer engagement, Gain mindshare and maximize financial returns. Learn about LogicBay’s 4Core Best Practice Framework including methods for more effectively training and monitoring dealer employee certifications.
	Link to LogicBay’s Library of Partner Relationship Management White Papers. These white papers provide best practice ideas on a Channel Readiness and Performance Improvement strategies. Topics include subjects such as: Effectively launching a LMS for the Channel, Applying Lean Principles to Channel Management, Channel Life-cycle Management, Partner Portal Technology Unification, and much more.
	Link to LogicBay’s Library of Client Case Studies. Learn how LogicBay’s PRM Solutions and Technology have created significant performance gains for clients such as Caterpillar, HP, Daimler Trucks and Outdoor Living Brands.