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CRM software and PRM software may be considered as similar solutions but the fact is that they are completely different ones.
CRM is being used to manage your clients. You can upload data about your existing clients, you can keep information about leads (potential clients), you can communicate and collaborate with your colleagues in order to close these leads in the most efficient way and much more functionality that is focused on direct sales. Some companies think that a CRM solution can satisfy their requirements and needs for managing their channel partners as well. This is a common mistake that a company can make. That’s because a PRM software is offering functionality focused on channel sales.
Through PRM you can communicate and collaborate with your channel partners, you can distribute leads and receive deals, you can share documentation for onboarding, you can train you channel partners, you can manage MDFs, incentivize your channel partners and more. The majority of PRM solutions are integrated with CRMs in order to have all the participants in one place. Managing channel partners through a PRM system is absolutely the right decision for your company instead of managing partners though CRM or Spreadsheets.