Glossary of commonly used and discussed terms in Partner Programs
What is Partner Relationship Management?
Partner Relationship Management
Partner Relationship Management [PRM] is a strategy and set of processes used by businesses to manage and optimize relationships with partners or affiliates. These partners can include resellers, distributors, suppliers, and other organizations that have a strategic alliance with the company. The goal of PRM is to align the goals and objectives of the company and its partners to ensure mutual success. This can include activities such as onboarding new partners, providing training and support, and communicating with partners on a regular basis. PRM can also involve tools and technology such as portals, dashboards, and automation to help manage and track the partnership. Overall, Partner Relationship Management is an essential practice for businesses that rely on partnerships to drive revenue. By effectively managing and optimizing their relationships with their partners, businesses can drive better results and maximize their return on investment from their partner relationships
Easily engage partners across the entire journey
From enablement and certification to marketing collaboration, affiliate tracking, deal registration, and payout. Everything you need in a simple to use, elegantly designed user experience.
”Torchlite checked all the boxes. We were looking for a PRM that enabled us to engage and collaborate with partners in a meaningful way, and Torchlite makes that all possible.
Anthony KapitanskiHead of Partnerships at Chili Piper
