Even if you’ve been using partner relationship management (PRM) software for years, chances are that you’re not familiar with everything there is to know about this transformative technology. The channel has changed tremendously in recent years, and not every solution has evolved to keep up.
In case you’ve been using the same tools for a long time, here are some things you may not know about how the space has evolved—and what you can do to capitalize on this evolution.
1. Leading PRM tools automate repetitive tasks.
When companies rely on old-school PRM software, they end up paying their channel team big bucks to do what essentially translates into busywork.
It is not uncommon for channel managers without the right tools to spend several hours each week following up with partners to track down updates. What’s more, channel managers often have to manually copy information from their customer relationship management (CRM) solution to their PRM and vice versa, taking up valuable time and leading to human data-entry errors.
By investing in cutting-edge PRM technology, you can automate all of these tasks. Not only will the right solution create a single source of truth by sending information back and forth between your CRM and PRM, but it will also automatically remind partners to update deal statuses.
2. PRM solutions keep all of your information in one place.
Keeping all essential information in one PRM tool enables partner managers to remove redundant steps from their workflow and optimize (or even automate) essential tasks, such as education and lead registration.
With a modern PRM solution, channel managers can create personalized journeys based on partner personas and populate their portal with relevant content and assets based on each role. Instead of having to walk each partner through their learning journey, the channel tech takes care of it automatically.
This allows channel managers to reclaim their valuable time, which can then be invested in other important areas of operations.
3. Not all PRM solutions are built the same.
Many channel managers make the mistake of thinking that investing in a new PRM solution will automatically solve all of their problems.
Unfortunately, this is not always the case, as not every PRM solution is built the same. That being the case, it is important to conduct due diligence and ensure you pick the right solution.
With that in mind, here are some features to look for:
Personalized Partner Experiences
What happens when a systems integrator logs on to your portal and is greeted with content geared toward value-added resellers? Prevent these suboptimal experiences by investing in a solution that enables you to cater experiences based on partner type, role, geographic location, stage in the partner journey, and level of certification.
Automatic Partner Updates
The right solution will free your channel managers from having to track down updates and enable partners to update deal statuses from any connected device, without having to log in to a portal.
Ability to Measure Partner Influence
Are your partners living up to their end of the bargain? Are you paying each partner fairly when multiple partners are involved in a deal? Look for a solution that makes it easy to determine whether partners are driving deals and how much influence each partner has in multi-partner deals. (Psst: Vartopia is the only PRM solution on the market that enables you to measure partner influence across multi-partner deals.)
Closed-Loop Channel ROI
Not every PRM solution allows you to measure the ROI of investments such as market development and co-op funds. The right PRM solution will enable you to close the loop on channel ROI, giving you the data you need to continuously optimize your program.
No matter how good your channel is doing, it can always be improved. That improvement is easier to accomplish when you’re using a solution that ships with robust analytics modules designed to help you better understand your channel and figure out the best way forward.
Vartopia checks all of these boxes—and more!
If you’re looking to transform your channel program with purpose-built PRM software, you’ve come to the right place. Vartopia is a proven PRM solution that can take your channel to the next level.But don’t just take our word for it. To see Vartopia in action, request a demo today.