Partner Relationship Management Software
What Is Partner Relationship Management Software?
Partner relationship management software, or PRM, is used to improve the communication between business and their partners or affiliates. These may include suppliers, distributors, and resellers. Business data such as shipping schedules, marketing materials, campaign materials, and pricing data are made visible and accessible through a PRM via a partner portal/extranet.
PRM software is not to be confused with Customer Relationship Management (CRM) software, which is used to manage relationships between businesses and their customers. Some CRM applications, however, are created with the same roles as PRM which can create confusion when drawing a distinction.
PRM is commonly used by sales and marketing managers to optimize their communication and relationship with partners by the use of portals as well as onboarding, training, and certifications. Having a single platform that allows the business to communicate with multiple partners saves a lot of time and can help improve the consistency of communication as well.
Partner Relationship Management Software Features
Some of the most common features PRM tools have are:
Partner workflow for compliance with business rules
Partner portal and collaboration tools (e.g. community boards)
Partner incentive creation and analytics (e.g. performance tiers, rewards for top performers)
Channel marketing automation (e.g. newsletters, product listing updates, etc.)
Onboarding and education, partner improvement plans
Automated lead distribution with optimization, scoring
Deal registration, trial licensing, demo support
Offers, discounts, and sales suggestions and guidance
Document management and search engine, co-branded collateral
Distribution of marketing and sales support material (i.e. partner-oriented sales enablement).
Performance insights and KPI benchmarking for partner performance
Integration with CRM & ERP, or common business systems
Partner Relationship Management Software Comparison
Before investing in a partner relationship management system, consider the following key points:
Ease of Use: PRM tools are meant to simplify the process of communicating through a single platform, which saves the user a lot of time. Make sure the platform you end up purchasing is user-friendly and easy for the rest of your team to learn how to use.
Size of Business: Some PRM software, such as Zift Solutions and Impartner are well-suited for midsize, large, and enterprise companies and shouldn’t be considered for smaller businesses. It’s best to measure the size and amount of licenses needed prior to deciding on the right PRM.
Partners: Another factor when deciding on the right PRM application involves looking at your partners and choosing a software designed to work best with them. For example, Tune is most compatible for businesses running an affiliate program whereas LeadMethod works best with outside representatives and distributors.
PRM software prices vary depending on channel operation size. Some partner relationship management solutions may be purchased in a package as part of an ERP or CRM system. Because pricing is very unique to specific business details such as the number of users, it is best to contact the vendor directly for customized quotes.
TreeHouse Interactive sells both a partner management software platform and a marketing automation platform called MarketingView. The marketing automation functionality provides functionality such as lead scoring and nurturing and marketing ROI analytics. Treehouse Interactive was…
Referral Rock is referral marketing software that works alongside the user's business with the goal of helping them get more customers. Referral Rock allows users to automate the ask, nurture multiple shares, align incentives, convert to sales, then repeat. This approach aims to…
TUNE Partner Marketing Platform (previously HasOffers) is a flexible SaaS solution for managing marketing partnerships across mobile and web. The vendor's goal is for TUNE to help customers maximize ROI from onboarding through payout with their most important partners, including…
Trackier is a partner relationship management system. A powerful performance marketing software, according to the vendor, Trackier is a popular tool among agencies, ad networks and advertisers as it provides them with a customizable platform from which to handle their publisher relations…
Allbound is a cloud-based channel sales and marketing platform that allows organizations to give real-time access to sales enablement, marketing tools and resources in one intuitive mobile-friendly place. With Allbound's next generation PRM, businesses can arm their partners, resellers…
Zift Partner Relationship Management (formerly Relayware) is a cloud-based partnering automation solution that is designed to improve partner performance and increase revenue growth. This solution includes new best practices and processes for channel management as well as best practices…
PwC’s modular, web-based platform, Partner Hub Portal, standardizes information gathering and issuance of partnership related information, while aiming to reduce hours spent on manual processes and mitigating risk. When combined with PwC's managed service approach, the vendor states…
Frequently Asked Questions
PRM software prices vary depending mainly on channel operation size. Certain products can be purchased as part of a large enterprise ERP or CRM application suite. Vendors like Oracle, Salesforce, IBM, and SAP often offer these types of solution bundles.
Since pricing for partner relationship management software can vary, it is best to contact the vendor directly for customized quotes.