As business processes become increasingly advanced, providers are creating reliable partnerships to scale profitable and growing markets in the PRM industry. Providers that have a large number of partnerships need assistance to reduce the administration complexities caused when working with each other. Hence, PRM software can play a vital role in reducing these business complexities. Partner relationship management (PRM) applications market as a set of tools used by providers to interact with their indirect channel partners on a one-to-one and one-to-many basis. PRM tools enhance communication, facilitate training, and support partner sales and marketing activities. PRM applications are used to help providers scale their partner programs and improve partner experience. PRM applications help organizations to simplify and integrate the process of working with partners, thereby providing partners with resources and efficient communication to increase sales on an organization’s behalf. PRM applications streamline both the management distribution and deal registrations to help reduce costs and labor involved. In parallel, they increase partner satisfaction and reduce channel conflicts.
Gartner defines revenue enablement platforms (REPs) as platforms that unite sales, customer-facing enablement and revenue functions. They encompass revenue-generating roles such as sales, customer success, marketing, partners and presales. They support both sales enablement and marketing leaders in providing a holistic enablement program. The platforms have capabilities for digital content, learning and coaching and engagement analytics as well as AI and conversational intelligence for skill building. Revenue enablement platforms provide digital content management, sales learning and coaching. They integrate with sales force automation (SFA) or marketing automation platforms, provide the ability to create and curate content, feature buyer engagement analysis, measure content effectiveness, measure and build role skills and competencies through microlearning and retention quizzing and analytics that improve commercial execution.