PRM and Analysis: From Data Collection to Decision Making
Partner Relationship Management (PRM) is a system for managing relationships between a company and its partners. It is based on effective cooperation to achieve common goals. In this article, we will look at the key analytical features and ready-made PRM tools for optimizing partnership performance.
PRM is focused on establishing and maintaining partnerships based on long-term interaction. This approach involves systematic analysis, adaptation and development of partner programs. Analytics allows us to evaluate the effectiveness of cooperation and identify opportunities for further improvement.
Data collection in PRM
The main data sources in PRM systems include information about partners, their interaction history, sales, transactions and partnership programs.
Information about partners
- Contact information: names, titles, email addresses, phone numbers and other communication channels
- Company characteristics: business area, specification, development history, values
- History of interaction: details of current and previous projects and agreements
Sales and transaction data
- Information on sales through partner channels by period, product, or geographic market
- Analysis of financial transactions in partnership agreements
- Results of partner programs based on sales and transaction data
- Mutual bonuses and rewards for partners due to their contribution to cooperation
- Effectiveness of promoting new products or services through partner channels
Reports and analytics
Analytics tools allow companies to generate well-founded reports and analyze the results of partnership programs. They cover the following aspects:
- Generating reports on key aspects of partnership activities
- Analyzing the impact of partnership programs on business, identify the most effective strategies
- Evaluating the performance of partners and their contribution to total sales
- Identifying trends and models of interaction with partners to predict future opportunities and risks
- Integration with CRM systems to combine and systematize data
Analytics impact on PRM strategies
Analytical data determines the directions of development and helps to adapt partnership strategies to specific business goals.
The study of this data indicates opportunities to optimize processes for effective cooperation. This allows you to develop personalized strategies for each partner, taking their unique characteristics and needs into account.
Analytics tools facilitate decision-making in partnership strategies and identify priorities for joint work.
PRM Kit
PRM Kit is a solution based on fdForge low-code platform for automatic interaction with business partners. This set of tools simplifies and optimizes all aspects of cooperation without interfering with business processes.
The analytical capabilities of PRM Kit allow you to create personalized collaboration strategies and monitor their results. The automated system collects, stores, and provides information for decision-making in partnership management.
PRM Kit benefits for business
- fast deployment due to low-code platform
- customization for the needs of a particular business
- automation of partnership work
- personalization of cooperation terms
- establishing effective communication channels
- optimization of internal operational processes
If you would like to optimize cooperation with partners and implement a PRM system in your business – leave your contacts in the form. Our manager will contact you and offer the best solution to meet your goals.