What is the best PRM software?
Here is a list of the best GRP software to use this year.
1. PartnerStack.
PartnerStack is a cutting-edge platform that optimizes the experience of partners and their management. It allows partners to reach more sellers and sellers to reach more partners through an integrated marketplace.
For partner managers, it allows them to automate the management of their program in order to better engage with partners through automated integration, educational materials, and in-app communication campaigns. Thanks to almost unlimited customization, partner managers can transparently manage partners of all types, individually.
Partners can easily manage their experience and better understand their success. With PartnerStack, they can easily communicate with managers, benefit from accurate and reliable payments, and easily self-train. All of this is in addition to the ability to track custom links, leads, and deals through a customizable analytics dashboard to sell more.
PartnerStack facilitates the partner experience by leveraging automation, empowerment, and collaboration—all on a single platform.
Features
- PartnerStack Marketplace - PartnerStack helps partners find relevant programs to join, so they can sell more for themselves and for the SaaS providers they work with.
- Customizable/flexible rewards and challenges - Partners can earn more through personalized resources that complement their sales expertise.
- Personalized experiences - Partners can navigate partner programs specially designed for them by their managers on the PartnerStack platform.
- Adaptable platforms - PartnerStack's custom API allows you to integrate data and dashboards into your preferred business platform to make selling a better and more comfortable experience.
- Resource Center - Access all of your partners' needs through a centralized resource center that offers educational, promotional, and empowering materials.
Benefits
- Automatic payments
- In-app messaging
- Data-driven partner dashboards
- Integrated fraud protection
- Discover the program
- Educational material
- Record and track links, leads, and transactions
- G2 award-winning product and support team
Pricing
PartnerStack offers three pricing plans: Essentials, Growth, and Enterprise. Contact the team to find out more.
Try PartnerStack
2. Impact Partnership Cloud.
Best global partner relationship management software (starting at $500/month).
Impact is a PRM software that helps you engage your partners, communicate with them across digital platforms, and measure their performance. It supports all types of partnerships, including affiliates, marketers, ambassadors, sponsorships, non-profit organizations, channel programs, and more.
The platform automates each part of the lifestyle in partnership and helps you:
- Discover and recruit the ideal partners based on your goals.
- Automate procurement and payment.
- Follow the progress.
- Encourage and engage partners.
- Optimize your future decision-making process.
It starts by identifying partners whose brands match your goals and reaching out to them. Once both parties agree to collaborate, the tool automatically establishes an electronic contract that provides for payment based on the contribution of each partner.
You can also share your product details, recent catalogs, offers, and more, so that your partners can easily promote your brand. This sharing of information also helps you stay at the forefront of your partners' concerns. You can even set rules to show particular products to specific partners.
Features
- Performance reports - Impact provides you with over 40 performance reports that give you an overview of your partner's performance. You can sort performances based on their geolocation, their SKU, their promo code, their high value-added customers, etc.
- Protect Monitor - Detect and eliminate cookies and fraud in your channel to maintain quality partnerships.
- Partner Reward Program - Reward partners based on real-time data for generating profits, new customers, etc. It helps you establish an electronic rewards system that enables cross-border transactions.
Benefits
- Allows you to send hundreds of personal messages to engage partners.
- Automated email system and partner drip campaigns.
- Affiliate management and monitoring.
- Management of banners and commissions.
- Settle payments in over 70 currencies.
- Social promotion.
- A centralized library of marketing assets
- It allows you to assess the value of your partners and to pay them accordingly.
- Integration with APIs allows monitoring on all platforms.
- Impact allows you to partner with global giants like Levi's, UBER, Lenovo, etc.
Pricing
There are two pricing plans, namely:
- Pro - Starting at $500 per month
- Business - Starting at $2500 per month
You also need to pay one-time installation fees that depend on the technical resources you require.
The Pro plan offers features like automated payments, cross-device tracking, in-app live support, performance reports, custom contract management, onboarding, and more.
The Enterprise plan offers all the features of the Pro edition, as well as triggered emails, partner customer relationship management, fraud protection, buyer journey reports, and more.
Try Impact
3. Salesforce PRM.
The best solution for welcoming and training partners ($25 per month + Sales Cloud plan).
Salesforce PRM is a partner and distribution channel management software that allows you to personalize partner recruitment, sales, and onboarding, and to gather performance data. It incorporates quick-start tools to train and support partners to help them sell more.
The partner ecosystem also allows you to recommend content to your partners and help them discover the files they need. AI-generated information allows them to spend more time selling rather than looking for the right information.
You can even integrate your CRM (Customer Relationship Management) tool with Salesforce PRM to monitor sales and analyze MDFs.
Salesforce also offers personalized AI-generated connections to experts or groups based on community participation, behavior, needs, and more.
Features
- Pre-built campaigns - Adding content from your current content management system (CMS) also allows you to create guided configurations for your partners. You can personalize access to the information that partners need to sell.
- Easy collaboration - It provides easy access to subject matter experts, feature updates, etc. for team collaboration. The team can share or embed recordings, videos, or other valuable information.
- Knowledge base - Build a knowledge base that answers most customer questions. Customers can resolve issues themselves or create a ticket.
- In-depth information - Share reports with partners to help them track key performance indicators to seize upsell or cross-sell opportunities.
Benefits
- Works as a centralized information sharing system.
- Co-develop marketing campaigns and manage the MDF.
- Restrict data and allow access to specific partners.
- Integration with several third party applications.
- Automation of funding requests and claims processes.
- Distribution of leads and recording of transactions.
- It allows you to help your partners develop and monitor distributed marketing campaigns.
Pricing
Salesforce PRM is available as a Sales Cloud add-on and costs $25/member/month. The tool is only available with Enterprise plans and higher.
4. Allbound PRM.
Great for providing learning paths to guide your partners (based on quotations).
Allbound is a cloud-based PRM software that allows partners and partner managers to work together from a partner-centric portal. It provides a customer success manager to facilitate integration, co-branding, transaction recording, channel awareness, marketing collaboration, and more.
The partner portal provides answers to all partner questions, and you can customize it based on your business guidelines. You can also control and define security actions in your partner portal.
Here are the actions you can control in your partner portal:
- Defines how long the session is inactive.
- Control of the maximum duration of the session.
- Define two-factor authentication (2FA).
- Create and personalize unique identification pages.
- Customize the portal by incorporating your brand's color schemes, URLs, iconography, etc. in order to comply with your brand's guidelines.
There is also a content library and a search function that allows content to be accessed based on the partner's role, needs, and sector.
Additionally, pre-designed templates help you manage FDP requests, gather necessary information, track ROI, etc. Integrated MDF templates are very useful for your partner when requesting marketing funds.
Features
- Learning Tracks - Create learning tracks and guides to guide new partners through the predefined, sequential learning process. You can create learning tracks based on partner type, level, geography, and more to address their priorities.
- Identify committed partners - Use certification tests to measure partner education and identify organizations that are invested in the relationship.
- Tracking partner engagement - The partner planning dashboard provides insight into the success of your partners. You can analyze metrics like marketing spend returns, performance, joint initiatives, referenced pipeline, quiz scores, and more.
Benefits
- You can control your partner's portal.
- Gamification functions in the portal.
- Content library for self-help.
- AI-generated training modules.
- Localized language abilities.
- The ability to analyze content engagement.
- Contact and calendar management to manage your partnership in all areas.
- Integration with marketing automation tools like Hubspot, Marketo, Pardot, etc.
- centralized communication platform that allows you to sort your emails and other important documents for later review.
Pricing
Allbound offers three quote-based pricing plans, namely Standard, Growth, and Premium.
5. Impartner PRM.
The best way to assign leads to a suitable partner (based on a quote).
Impartner is a SaaS-based partner relationship management (PRM) solution that helps you optimize partner performance, drive sales through partners, and manage referral programs. It allows you to update and personalize your portal and attract appropriate partners.
Other functions include automated integration, partner performance management, partner tracking, marketing, sales, transaction recording, etc. The software also comes with numerous predefined templates and triggered workflows to help you with the onboarding process.
You can also create multiple partner journeys and set the completion time for each phase and activity in the journey. It is also possible to create digital courses and certification courses for your partners.
It also allows you to manage the performance of partners in your indirect sales channels. You even have access to all conversions, pipelines, and more.
Features
- Closing leads - Share your leads with your partners and the sales team and select the most appropriate partner for each lead. You can also delegate leads and track closing rates and return on investment.
- Impartner Locator - Impartner Locator and Marketplace Solutions connect potential customers with distribution partners best suited to meet their needs. You can also provide search filters and allow partners to highlight their skills.
- CRM integration - Integrating with your existing CRM streamlines valuable customer data with your Impartner PRM solution.
- Performance monitoring - The software provides real-time information about the performance of your partners, which also allows you to offer them incentives.
Benefits
- Single login (SSO).
- Automated MDF solutions.
- International language support.
- Salesforce integration.
- The ability to personalize and co-brand content.
- Allow customers to choose appropriate distribution partners based on geolocation, certification, services, etc.
Pricing
Plans based on quotations.
6. Channeltivity.
The best solution for large businesses ($1399 per month).
Channeltivity is a cloud-based PRM tool that helps you with business registration, MDF requests, channel lead management, training, etc. It also offers native integration with HubSpot and Salesforce CRM - two of its editions.
Integration with HubSpot CRM allows for smooth data flow, real-time pipeline visibility, and order management. Integrating with Salesforce CRM also facilitates data flow, automating lead flow, reducing channel conflicts, recording transactions, and more.
Channeltivity also allows you to create a self-service knowledge base where partners can find relevant information. All of your partners can access the resource library to save time.
You also have access to the MDF dashboard, which provides visibility into financing activity in real time. Partners can request funds easily, use them to generate additional revenue, and track their use.
Features
- Create templates - Channeltivity allows you to create templates, profiles, and documents for each partner. Your partners can even personalize these pages when it's in the best interests of your business.
- Automated email system - Channeltivity's auto-triggered email system helps you stay at the forefront of your partner's mind. You can set notifications for unopened cases, for cases that require action, MDFs that are expiring, and so on.
- Distribution lead management - It allows you to assign leads to partners, monitor their progress, and help partners maintain leads.
Benefits
- Sending email reminders to partners in real time.
- Joint business strategy planning with partners.
- Social sharing and collaboration options.
- It ensures that each partner receives the right data at the right time.
- Restrict and control access to templates and documents
- Data analysis to track workflow, sales, performance, and more
- Allows you to manage your commissions and referrals.
- Connect with Zapier to integrate with over 1000 websites.
- GDPR compliance and single sign-on.
Pricing
Channeltivity offers three pricing plans:
- Standard edition - $1399 per month
- HubSpot edition - $1,699 per month
- Salesforce Edition - $1699 per month
You can also request a free demo. Key features include the partner portal, resource libraries, partner profiling, recruitment, transaction registration, co-branded guarantees, lead distribution, etc.
7. Magentrix.
Best for sharing data and collaborating with partners (based on quotes).
Magentrix provides PRM and client portals to help you increase collaboration, productivity, and revenue. It automates many parts of the life cycle of your partner relationships, including data entry, onboarding, lead sharing, partner recruitment, incentive management, and more.
Other automated functions include spreadsheet management, helping close deals, activating sales channels, pipeline management, etc. It also helps you seize high-value sales opportunities, collaborate in real time, and access performance data.
Additionally, a self-service information library allows your partners to access the right information at the right time and focus on selling.
There is also a gamification function that allows you to involve your partners and boost their productivity. You can award points or money as an incentive based on their performance.
Features
- Self-enrollment - Organize a fully automated onboarding process in which your partners can register themselves. Magentrix also allows you to control the entire process and include terms and conditions that must be accepted by partners.
- Receive feedback - It allows your customers and partners to provide feedback, which helps you analyze the performance of your business.
- Streamlining MDF - Manage and automate Market Development Finance (MDF) to support partners with appropriate marketing funds. The tool makes it easy to review and approve applications, manage expenses, process payments, and more.
Benefits
- Training and certification on demand.
- Organize training programs for different levels.
- Provides information about channel management.
- Integrated content management tools.
- Allows you to track, measure, and optimize your partner's progress.
- Allows you to organize essential data that your partners can access at any time.
Pricing
Magentrix offers plans based on quotes.
8. TUNE.
The best solution for advertisers who work directly with influencers ($499 per month).
TUNE is a partner management platform that helps you discover and manage new partners. It also allows you to manage all parts of the partner relationship cycle, from integration to payments. TUNE exists in two editions - one for advertisers and one for networks.
The software is suitable for all types of partners including affiliates, publishers, application manufacturers, resellers, business development relationships, and more.
Tracking is one of its unique characteristics. TUNE offers versatile tracking methods, including post-back tracking, no-cook tracking, and no-click tracking.
The tool also offers native integration with most MMPs (Mobile Measurement Partners), eliminating the need for an additional SDK. Integration with MMPs provides information on in-app purchases, installations, and more.
Features
- Partner discovery tool - The software has an integrated partner discovery tool that allows you to find the partner that is best suited to your brand. From media to technology, TUNE has a list of partners in every field.
- Consolidate and automate workflows - TUNE helps you automate workflows and processes like fraud prevention, payments, performance optimization, and more.
- Performance monitoring - You can track your partner's progress across various channels and optimize performance in real time.
Benefits
- SOC 2 Type II and SOC 1 Type II certified
- Integrated fraud prevention tool.
- Allows you to configure actions that are triggered by events.
- Granular reports and smart dashboards.
- Server-side targeting and tracking.
- Automated billing and payments.
- Different interfaces for partners and advertisers.
- Bi-directional API functionality for third-party integrations and real-time decisions.
- Send automated emails to your partners to let them know the latest news.
Pricing
TUNE offers different plans for different editions.
The tool offers advertisers four pricing plans:
- Bootstrap - $499 per month
- Startup - $879 per month
- Libra - $1500 per month
- Contract - on the basis of a quotation
All plans include a 30-day free trial. Standard features include campaign management, promo codes, advanced targeting, office tracking, data protection, real-time reporting, partner API, fraud prevention, and more.
There are 2 pricing plans for networks:
- Business - $799 per month
- Personalized - Plan on quotation
Both pricing plans offer a 30-day free trial. Standard features include real-time reporting, landing page optimization, a comprehensive two-way API, performance automation, third-party payment integrations, partner API, and more.
What is PRM software?
Partner relationship management (PRM) software is a tool that helps businesses discover new partners and manage their relationships. It ensures the automated functioning of every aspect of the partner management process, from onboarding to sales to payments.
These systems typically include content management tools, a database of partner and customer contacts, and a partner portal. Partners can connect to the portal and get stored information about the company, such as prices, products, training content, and more.
All of your partners, including dealerships, distributors, VARs, etc., will be able to access this information when they need to close a deal.
Here's everything PRM tools can help you do:
- Evolve your partner program by recruiting the right partners.
- Gain visibility on your partnership program.
- Easy communication within your partner network.
- Eliminate the time spent on manual tasks such as onboarding, data entry, training, etc.
- Management of marketing development funds.
- Provide training and certification to welcome partners
- Store information and maintain a smooth delivery system
- Provide adequate product information to partners.
- Manage content and marketing strategies.
- Track sales and profits using reporting tools.
Additionally, an automated PRM software tool will allow your partners to optimize sales channels and increase revenue.
What features do you need in PRM software?
Each PRM has different functions and varies in cost. In the end, it all depends on your needs.
However, here are some of the key features to look for in your PRM platform:
1. Automated partner on-boarding.
PRM tools should provide automated online training that your partners can complete independently. You also need to be able to create learning tracks and store critical product details.
This will allow your partners to acquire the skills and knowledge needed to sell your products.
2. Centralized resource portals.
A centralized information center will empower your partners instead of relying on unauthorized information. They need to be able to log in to the portal and access the documents, brochures, and other critical information they need to sell.
Naturally, this centralized information model makes the sales process quick and smooth.
3. Marketing Development Fund (MDF) program.
MDF refers to the funds that your partners may need to obtain additional resources or to integrate indirect sales channels. Partner management software with integrated MDF tools can help you control the funding of your channels, reduce paperwork, and automate payments.
You can also determine if the funds are being used for sales or if they are being squandered. You can also revoke the funds if and when needed.
4. Sales and performance monitoring.
An ideal PRM software will be able to provide you with real-time sales analytics and allow progress to be monitored. You can use this data to understand future trends and implement new marketing strategies.
Additionally, analytics data can help you understand the performance of your channels and partners. This data will also help you set up incentive programs.
Other standard features include fraud prevention, tagging capabilities, transaction recording, etc. Additionally, you need to be able to set goals for your partners and manage incentives to keep your partners motivated and satisfied.
Summary.
Here's my list of some of the best PRM software platforms you can use this year. These tools help you discover and recruit the right partners for your brand.
They also make it easy to manage partners and track their progress, allowing you to motivate them based on their performance. Be sure to choose a tool that meets all of your requirements and adapts to any partnerships you plan to create.
At the same time, it is essential to focus on other functionalities such as filtering, the self-help knowledge base, data sharing, personalization, etc. The ideal platform should support all processes in the partnership management lifecycle.
Try these platforms if you want to discover, recruit, and manage your partnerships all from one place:
- PartnerStack : Best overall PRM.
- Impact Partnership Cloud : The best solution for new partnership teams.
- Salesforce PRM : ideal for welcoming and training partners.
- Allbound : The best at providing learning paths to guide your partners.
- Impartner : The best solution for allocating leads to a suitable partner.
- Channeltivity : The best solution for large businesses.
- Magentrix : The best for sharing data and collaborating with partners.
- TUNE : Best for advertisers who work directly with influencers.
Most of these platforms are suitable for businesses of all sizes and for all types of partners.
