Being a manager or director in a company where you are responsible for overseeing many aspects of the organization is never easy. You have to constantly keep an eye on competitors, the market, and those that report to you. However, as a lot of managers have learned, sometimes the biggest challenge that stands between you and success is getting budgetary approval for critical initiatives. When you discover a solution that will solve a problem in your company, one of the biggest challenges you face is getting your VP on board to implement that solution. Trying to win over your boss on a revenue generating solution like PRM (Partner Relationship Management) software is far from impossible, however. If your boss doesn’t know about the benefits of partner relationship management software, the following should help them appreciate why it’s an essential asset.
What Is Partner Relationship Management Software?
Let’s start with the basics. Partner relationship management software is fairly self-explanatory. It’s technology used to manage the channel partners your company relies on to sell your products and services. Without software built for this task, how can you possibly hope to track your partners’ performance at the highest level? This makes sense conceptually but there is a lot to consider under the hood.
Even if your business only has relatively few partners, it can seem impossible to effectively communicate with them. This can be a problem for a variety of reasons. Your primary contacts may have a full workload; there might be frequent turnover; it is difficult vying for their attention. Regardless the reason, you might soon find that they are difficult to work with.
With partner relationship management software, you have a streamlined method for communicating with the various stakeholders at your partner’s company.
Imagine having a cloud-based platform where you can deliver the training, sales and marketing materials your partner needs in one location. Being cloud-based means all of your partners’ employees can access it from anywhere.
There may be a number of reasons you worry about accountability with channel partners. This is a valid concern. In one way or another, any partner is a representation of your company.
Naturally, then, you want to make sure a partner’s employees are properly trained and armed with the knowledge to represent you in the best manner possible. With the right software, this becomes much easier.
Like we covered above, you have a single, cloud-based location to deliver the tools your partners need to succeed. When materials become outdated, simply upload new resources and your partners can receive instant notification.
Furthermore, with the right software, you can deploy formal training and certification processes to ensure that all the relevant partner employees are properly equipped with updated product knowledge.
If your company has poor visibility into your channel network—and chances are it does—then your boss should certainly appreciate the importance of analytics. They’re essential for receiving feedback about how well your channel is performing.
You don’t have to worry about manually creating reports for sales numbers and partner activity. With partner relationship management software, you have access to these analytics and can pass them along to your partners as well. This means you can help your partners improve on how they represent your company and keep everybody motivated to succeed.
Ideally, your company should be working hand-in-hand with your partners. This can be almost impossible though. Your company has goals and business processes that aren’t always aligned with those of your partners.
Just because your businesses don’t necessarily parallel each other, however, doesn’t mean you can’t see optimal results. Collaborating often proves to be the perfect way of bringing out the best in your company and theirs. The upshot: you both see bigger profits.
With partner relationship management software, collaboration can occur without either company having to sacrifice their own business goals. You can bring together the right group from both organizations and give them the perfect platform to work together.
Even though most companies use some form of partner relationship management software these days, your boss may not be sold. Utilize the above points to help bring them into the fold.