Companies that have implemented partner relationship management (PRM) solutions to support their channel programs are reporting attention-getting results. According to a bi-annual global customer survey by Impartner, a PRM solution provider, channel leaders report that PRM technology is driving significant indirect revenue gains and decreasing the administrative costs of their partner programs.
More than three-quarters of the respondents to the survey said they experience a full return on their investment in their PRM solution in under 18 months, and that the technology supported a partner experience that is giving the brands a competitive advantage.
According to the study, which is based on anonymous responses from Impartner’s customers worldwide, brands utilizing PRM solutions reported an average of 32.3% increase in revenue and a 29% drop in administrative costs in the first year of use. Three-quarter of the respondents said PRM technology helped them scale their channel programs.
Among other key channel metrics measured in the study:
“No matter how you slice it, a contemporary PRM solution elevates every aspect of your channel,” said Dave R. Taylor, Impartner’s CMO. “As a system of record for your channel technology stack, a PRM unifies and optimizes the performance of your channel – enhancing the experience for your partners and accelerating revenue for your indirect sales in a way that ensures your channel is a strategic competitive advantage for your organization.”
The study validates “what we see and hear from users around the world everyday,” he said, “that PRM has an unparalleled ability to accelerate revenue over nearly any other decision a company can make.”
More information about the study is available in this report.