Looking for the Best PRM software? Here we have listed the Best Partner Relationship Management Software that helps organizations to create and smoothly manage their business relationships with marketing agencies, resellers, and members of their supply chain.
I have spent around 4 days creating dummy accounts in each of these PRM apps and see what they have to offer. Based on my years of professional experience and recent product testing, I am going to list down some of the best PRM tools out there.
Here are my personal recommended PRM software:
List Of Best PRM Software and Tools
Impact Partnership Cloud
Partnership Contract Pay
Protects and Monitor
Partnership Track
PartnerStack
Maximize partner performance
Get access to the best partners
Salesforce PRM
Partner Central Template
Digital Experience Managemen
Channeltivity
Resource Library
Partner Management Dashboard
LeadMethod PRM
Lead Data Append
Reporting And Analytics
Table Of Contents
There is no better method to solving challenges than the famous saying “two heads are better than one”. In today’s fast-paced environment, a “Do-it-alone” approach is not the best strategy for growth. Businesses that initially grew organically need to look for new ways to drive collaborative innovation that provide what their customers need today and in the future.
Collaboration and strategic partnerships have become the foundation for improving business outcomes. In business, partners are useful for marketing each other, promoting, mentoring, and essentially any other activities that offer mutual benefits to both organizations in which they are willing to engage. Strategic collaboration through reseller programs is a direct source of growth within SaaS startups, with those who partner growing 5% faster than those who go it alone.
Every month, there’s a new software tool in the market that is vying for your attention. The Partnership ecosystem is exploding, and there are no signs of a slowdown. Industries like manufacturing, building materials, automotive, insurance, SaaS, and even hospitality and recreation that sell at least in part through a distribution channel should have an effective PRM strategy. Actually, the Businesses that do not sell directly to their end-users will benefit the most from a PRM strategy.
But don’t get confused PRM with CRM. Both are common software tools used to assist in managing a business. And with such close abbreviations, many people are unsure of how the two differ.
What is The Difference Between PRM and CRM?
CRM stands for Customer Relationship Management which is concerned with a company’s relationships with their customers while PRM is concerned with managing a company’s relationship with their indirect sales teams and those sales partners’ customers.
When we talk about the software, we can notice that PRM applications have been integrated with CRM solutions to eliminate data silos and extend the functionality of an integrated data source of record. Integrated processes between partners and channel management now benefit from a centralized database of customer data.
Today, businesses are going global and the hunger to expand and achieve greater revenues has got businesses to become interdependent. Thus to achieve a global outreach, businesses need PRM solutions along with CRM solutions.
What Is PRM Software?
PRM, also known as Partner Relationship management software is a business tool to track sales partners and affiliates. It is designed to help sales managers and channel marketers connect and automate all separate pieces of their partner management process within a single tool. Basically, it is a centralized platform or a portal that is dedicated to serving your channel partners. Partner management software provides a private portal for each partner to campaign materials, access documents, market development funds (MDF), opportunities, and deals.
What Does A PRM Software Do?
There are so many PRM software in the market and each of them is a bit different from the others. But most of them possess some common features to provide the core functionality. PRM software provides a multitude of items and functions to its users. These might include training, product information, certification controls, marketing materials, and even collaboration forums. Let’s discuss some of the basic functionality of PRM Software.
- Forecasting: This allows you to forecast channel sales and analyze which partners are the most effective.
- Partner Discovery: PRM software allows you to search, discover, and form partnerships with other companies.
- Partner Onboarding: Most of the PRM software comes with an automated partners onboarding process.
- Resource sharing: PRM software allows you to share education, sales enablement resources, and other co-branded sales assets with partners.
- Central Management Portal: PRM software provide centralization of information. Partners can access the information they need such as brochures, documents, co-branded collateral, and deal information.
- Obstruct Channel Conflict: PRM solution allows you to ensure that leads are not double-assigned by mistake. PRM software prevents sales and channel conflict caused by human error.
I think you got an idea about the PRM software. Now, let’s move to the detailed review of the best PRM software.
Detailed Review Of Best Partner Management Software
Impact software is my first choice when it comes to Partner RelationshipsMnagement. Impact’s Partnership Cloud is a PRM software that can manage and optimize all your business partnerships through every stage of the life cycle. Impact Partnership Cloud lets you drive significant growth by managing to scale all types of partnerships. Impact Partnership Automation masterfully orchestrates all forms of referral partnerships by automating actions through the unified framework of the partnership life cycle. Now let’s discuss the highlighting features of this software.
Impact Partnership Cloud Features:
- Discover Recruit: With Impact Partnership Cloud, You can find the right partner according to your business and expand your reach. Thus you can discover perfectly aligned global partners and add them to your partnership program with ease.
- Partnership Contract Pay: Impac’s partnership Cloud lets you to define your terms with your partners with flexible electronic contracting. It supports 70+ currencies. Thus you can pay across borders seamlessly. This Feature also allows rewarding partners for generating revenue, new customers, or by any other metrics that matter.
- Partnership Track: You can accurately track partners across web and app properties and attribute performance, no matter how many devices customers use.
- Protects and Monitor: This feature allows you to expose affiliate fraud, influencer fraud, and traffic abnormalities wherever they corrupt your conversion paths. Cut out invalid traffic and reinvest spending in high-quality partnerships.
Impact Partnership Cloud Pricing:
Impact PRM software has not provided pricing information for this product or service. This is common practice for software sellers and service providers. Contact Impact to obtain current pricing.
VISIT IMPART PARTNERSHIP CLOUD
Allbound is a PRM Software that provides a platform for partners and partner managers to work together. Allbound PRM is the Platform for successful partnerships. You can simplify and digitize your entire partner lifecycle with Allbound’s Partner Relationship Management (PRM) Software. Allbound is an intuitive PRM software to advance your partner’s sales results.
Some Basic Features Of Allbound PRM
- Partner Portal: This PRM feature enables you to strengthen partner engagement, program efficiencies, and performance tracking with an easy-to-use channel sales portal. You can dynamically group and tier partners. This PRM software also lets you to customize your Partner Portal to match your brand guidelines. Self-service security functionality allows system admins to be in control of their portal. Choose session inactivity timeout, maximum session length, and choose if two-factor authentication (2FA) is right for you all within the Allbound settings.
- Onboarding And Training: Empower sales partners with online, automated training they can complete independently. Effortlessly create learning tracks based on partner type, tier, geography, and vertical to cater directly to their unique priorities.
- Content Library: Guide partners towards the materials they’ll find most helpful by customizing what they can access. The PRM portal’s organization of the content library and search function facilitates easy access to the right content based on the partner’s or prospect’s role, industry, and current need.
- Market Development Funds: Manage requests for market development funds (MDF) using Allbound’s templatized system, enabling you to efficiently collect necessary information, maintain organization, and track ROI based on associated leads.
- Co-branding: Allbound’s Co-Branding tool allows admins to grant editing access to partners. Partners can add their own company logo, and value proposition, and download it directly to their computer or mobile device.
Allbound PRM Pricing:
Allbound PRM offers three plans namely, Standard, Growth, and Premium. However, the price of each of these plans is not provided by the vendor.
Salesforce PRM is a partner and channel management software that helps you personalize partner recruitment, Recruit, onboard, train, and support your indirect sales channels with out-of-the-box features that increase partner engagement. With this software, you can automate administrative tasks, and close deals faster.
Basic Features Of Salesforce PRM
- Build your partner ecosystem quickly: Recruit, onboard, train, and support your indirect sales channels with out-of-the-box features that increase partner engagement. Recommend content to share knowledge and help partners discover the files they need.
- Insight: This PRM software delivers insights anywhere, on any device. As you know that data drives decisions. This PRM Software connects data from any source to help partners understand their business. You can also share reports and dashboards to help them track KPIs or allow partners to explore data for upselling and cross-sell opportunities all from any device.
- Guided Setup: It tailors your business processes to support specific channel needs. Easily customize access to the information and experts that partners need to sell, and structure partner tiers and programs to incentivize performance. Add content from your existing content management system (CMS) to create an engaging partner destination. Thus making it fast and easy for partners to sell.
- Digital Experience Management: Create branded, personalized experiences for each user with CRM data for targeted workflows and content from any source.
- Partner Central Template: Launch a pre-built partner portal that is natively connected to your CRM data, like accounts and opportunity management.
- Channel Analytics: Track partner journeys, measure engagement, and provide reports and dashboards to help your channel drive sales
Salesforce PRM Pricing:
Salesforce PRM is available as an add-on with the Sales Cloud and costs $10/login or $25/member/month.
Impartner is Partner Relationship Management software that unlocks the potential of your indirect sales by helping you manage, optimize, and accelerate every step of the partner journey. Impartner is an enterprise-class PRM solution for managing, optimizing, and accelerating every aspect of your channel from partner recruiting to cooperatively marketing and selling, to managing your partners’ performance. Impartner PRM provides an enterprise-class web application and unmatched breadth of functionality for managing all aspects of the partner lifecycle, from partner recruiting to cooperatively marketing and selling to performance management.
Some Core Impartner PRM Features:
- Lead Management: Make your partners an extension of your sales team. Not only can you send them to lead, but also you can deliver them to your best or highest-certified partners. The Impartner Leads module makes it easy for your partners to sell your product like they are an extension of your sales team. Not only can you send your partners leads, but you can deliver them to your best or highest-certified partners.
- Journey Builder: Channel account managers can curate partners’ journeys through every stage of their lifecycle, talking the variation out of partners’ outcomes. Journey Builder is a ground-breaking solution that moves beyond just automating transactions to automating the journey and experience of partners and rewarding the behaviors that determine success.
- Channel Intel+: Create unlimited visuals and reports to provide actionable and crucial insights into partner performance. Channel Intel+ opens the door to create personalized visuals and dashboards based on any data points collected in PRM. These visuals can be organized into specific reports that are easy to build, which may also include images, text, links and more.
- Program Compliance Manager: Automates partner tiering to ensure greater compliance while greatly reducing administration time. Program Compliance Manager automates your tier requirements to calculate and correctly assign tiers to every qualifying partner based on the evaluation cycle you specify. The criteria and requirements that you’ve configured for each tier are clearly displayed to partners so that they know exactly where they currently stand, the benefits for which they qualify, and what it takes to achieve the next level of benefits.
- Business Planning: Create, track and change any KPI, from any Salesforce object, even custom objects, with a simple drag-and-drop interface.
Impartner PRM Pricing:
Impartner PRM pricing starts from $2000.00/month.
Magentrix is PRM software whose partner portals enable your channel program to improve collaboration, increase productivity and grow revenue. It’s one integrated and seamless environment for your channel partners. Magentrix PRM software can empower your channel team by automating the manual processes of day-to-day partner maintenance, enabling channel managers to save time and stay focused on strategic business activities like partner recruiting and pursuing high-value sales opportunities. Improve channel team productivity with real-time collaboration and access to performance data.
Some Basic Features Of Magentrix PRM Software:
- Deal Management: Channel teams can review and approve partner deals in Salesforce while partners stay up-to-date in their web portal.
- Market Development Funds (MDF): Manage and process MDF applications to help eligible partners with participation, apply for funds, track marketing campaign approvals, and payment processing.
- Ideation: Find out what matters to your partners and customers as they share, review, and collaborate on new ideas to give you important feedback.
- Content Management: Let partners and channel teams help themselves with searchable information in knowledge bases, FAQs or Wikis.
- Document Management: Organize any file in easy-to-navigate folders including links and YouTube/Vimeo videos. Search for resources such as product and technical guides, datasheets, and co-marketing documents.
- Analytics: Track, measure, and optimize your partner program. With dashboards and reports, you can quickly measure leads, opportunities, and deal metrics to ensure maximum ROI.
Magentrix Pricing
Magentrix does not have a free version but does offer a free trial. Magentrix paid version starts at US$ 1.00/month.
Channeltivity is the leading PRM Solution for tech companies. With the use of this PRM software, you can simplify deal registrations, MDF requests, channel lead management, training, and HubSpot CRM or Salesforce.com connectivity through a single, powerful Partner Portal. Channeltivity’s cloud-based partner relationship management solution is easy to use, fast to set up and empowers you and your partners with the tools to accelerate growth.
Some Core Channeltivity Features:
- Channeltivity HubSpot Edition: Channeltivity HubSpot Edition delivers real-time partner pipeline visibility to your entire organization. When your partner registers a deal in your portal, the deal is automatically available in your HubSpot CRM. With the Channeltivity HubSpot Edition, your channel team gets all the benefits of a powerful PRM while other stakeholders within your organization get the data they need in the CRM they are accustomed to using.
- Salesforce.com Edition: Automate the flow of lead, deal registration, and partner data between your Channeltivity Partner Relationship Management system and Salesforce.com CRM to create a seamless experience for your sales organization.
- Channel Partner Portal: The Channeltivity Partner Portal Content Management module is a website content management system inside your Partner Relationship Management Software that gives you everything you need to reach your partners.
- Resource Library: With Channeltivity Partner Relationship Management software, quickly provide channel partners with secure, on-demand access to your most current sales tools, marketing information, and training and enablement tools, while reducing the time and money you waste sending out materials.
- Partner Management Dashboard: Your partner dashboard is the control center of your channel partner management solution, displaying the real-time pulse of your channel program. Quickly see opportunities for increased sales revenue and overall partner performance.
- Channel Deal Registration: With the Channeltivity Deal Registration module, manage approval workflows, collaborate on deals, and gain visibility into the sales cycle and partner performance for on-target forecasting right from within your Partner Relationship Management solution.
Channeltivity Pricing
Channeltivity offers three pricing plans:
- Standard Edition costs $1399/ month
- HubSpot Edition costs $1699/ month
- Salesforce Edition costs $1699/ month
TUNE is a Partner Marketing Platform for managing marketing partnerships across mobile and web. With Tune, you can maximize ROI from onboarding through payout with your most important partners like affiliates, networks, influencers, agencies, and any other business development relationships. TUNE comes with two editions – one for advertisers and one for networks.
TUNE is a fully customizable SaaS platform. That means it gives you the industry’s most powerful and unique set of tools to integrate, manage, and compensate your marketing partnerships, plus the flexibility to differentiate your business.
Features Of TUNE For Advertisers:
- Partner, Manage, and Pay Effortlessly: Improve return on the effort by streamlining your partner marketing activities from onboarding to payment. Consolidate all of your partners, networks, channels, and campaigns in one place. Build trust with fully integrated accounts payable workflows and international payment processing.
- Track: Tune PRM software allows you to Track cross-channel and optimize performance in real-time. You can capitalize on the data and relationships you already have through your mobile and digital measurement partners. Thus you can drive growth via mobile and web partners on a single platform. No additional SDKs are needed to integrate with any mobile network.
- Proactive Fraud Prevention: TUNE is the only Partner Marketing Software with built-in automatic fraud protection that automatically detects and rejects fraudulent activity. This free technology combines revolutionary automation capabilities from TUNE, with premier ad fraud detection from Fraudlogix to provide brands with the most powerful protection in the industry.
- System and Data Security: Tune incorporates SOC 1-level and SOC 2-level controls as criteria for the measurement of TUNE products and services.
- Best-in-Class Support: Tune has the best-in-class customer support with a support team that consistently delivers industry-leading customer satisfaction ratings of 98% or higher each month.
Features Of TUNE For Networks:
- With intuitive automation tools to streamline complex workflows and manage repetitive manual tasks, TUNE makes it easy to increase profit, decrease low-performing traffic, and scale your network fast.
- Automate your performance optimization via custom rules for conversion rate, profit margin, and offer type.
- Save time with automated actions and alerts that warn and block traffic sources and offers, and immediately notify all parties involved.
- Monitor all actions, rules, and affected partners and offers from one event log
- Automated invoicing and payment solutions available.
- Real-time reporting for taking immediate action on partner incentives.
- The industry’s only fully automated event delivery system to livestream data into your proprietary infrastructure.
- Two-way API functionality for powering real-time decisions and integrations.
- Partner APIs to connect with their systems.
- Customizable reports, dashboards, and interfaces for partners and advertisers.
Tune Pricing
TUNE offers different plans for different editions.
The tool has four pricing plans for advertisers:
- Bootstrap – $499 per month
- Startup – $879 per month
- Scale – $1500 per month
- Contract – Quote-based
There are two pricing plans for networks:
- Enterprise – $799 per month
- Custom – Quote-based plan
PartnerStack is a partnership Relationship Management software built for SaaS, designed to deliver predictable revenue and accelerate growth for software businesses and their partners. PartnerStack helps you recruit the right partners to work with, and empowers your partners to sell more of your product. PartnerStack automates the toughest parts of running a partner program and is designed to keep partners engaged long-term, so you can drive predictable, recurring revenue.
Some Basic PartnerStack Features:
- Scale multiple channels: PartnerStack is built to handle every kind of partnership and all of them at once whether you are looking to close more deals, generate more leads or bring traffic to your next campaign.
- Maximize partner performance: PartnerStack helps you create custom experiences for each of your partner channels, nurturing new partners into top-performers. You can automate partners’ onboarding with custom forms and email flow. With Partnerstack, you can host partners marketing assets inside your partners’ dashboards.
- Automate your partner payouts: Paystack saves your valuable time by making sure that your partners get paid every month. You can receive a single monthly invoice, paid by credit card or ACH. Partners can withdraw their own rewards through Stripe or Paypal.
- Get access to the best partners: Thousands of agencies, resellers, and marketers already use PartnerStack to generate recurring revenue for themselves, and for businesses like yours. PartnerStack connects you to all of them, so you can find the perfect partners to grow your program with.
- Partner analytics: Track the success of your partners at individual and group levels to optimize your program’s performance.
Partnerstack Pricing
PartnerStack provides 3 plans namely Essentials, Growth and Enterprise. But the Pricing Information is not provided by vendors. Please Contact PartnerStack for pricing information.
Mindmatrix is a PRM software with the help of which you can manage partner relationships effectively. Right from stage I—recruiting the channel partner to ensure they perform efficiently, there are multiple challenges. Attracting the right channel partner, training them, keeping them engaged, and giving them the freedom to operate is a real challenge and Mindmatrix’s Partner Relationship Management (PRM) tools help you meet these challenges effectively.
Some Key Mindmatrix PRM features:
- Increased Partner Engagement: Mindmatrix’s Partner Relationship Management (PRM) tools drive greater partner engagement by offering you a range of tools that help boost partner engagement and also measure it. With Mindmatrix, partner engagement will no longer be a vague concept, but a tangible piece of the puzzle. Mindmatrix increases partner visibility, allowing you to manage leads and opportunities to better plan and address partner success.
- 100% Visibility: Mindmatrix gives you 100% visibility into your channel and sales pipeline as well as your channel partner activities. Mindmatrix offers detailed reporting and analytics tools that offer you in-depth views of Opportunities and sales pipeline, Partner engagement metrics, and Channel partner performance.
- Scalability: Mindmatrix helps you scale up your partner network while being able to support them effectively and efficiently. Mindmatrix’s Partner Relationship Management (PRM) tools make it easy for you to manage partner onboarding and training, channel communications, MDF, etc., with limited resources, so you don’t have to worry about supporting your growing partner network.
- Better MDF and Channel Conflicts Management: Keeping track of MDF distributed to multiple channel partners, for multiple different marketing needs, can be a hassle. With Mindmatrix’s Partner Relationship Management (PRM) module, it is easy to manage your channel partners’ designated MDF. Mindmatrix allows you to manage your lead registration process efficiently by creating an avenue where your channel partners can register new leads. You get to control the flow of leads to your channel partners and approve every lead registration.
- Recruit Partners with Ease: Recruiting partners is as challenging as generating leads and prospecting end users. You need to work on a strategy for how to reach out with consistent, quality messaging and develop a recruiting process. You need to understand which partner is most interested and then reach out to them accordingly. Mindmatrix Partner Relationship Management (PRM) tools offer you all the tools you need to attract and recruit the right channel partners.
MindMatrix Pricing
Mindmatrix provides custom pricing for their software. The actual pricing information is not provided by the vendor. Please Mindmatrix for pricing details.
LeadMethod is committed to increasing engagement among business channel partners and distributors. It improves the lead assignment and tracking process that sends leads to these partners and encourages partner loyalty. Nurture your business partners and help them increase their revenue, and then collect detailed data on the progress of each assigned lead. Plus, LeadMethod integrates with over 65 systems in real-time, allowing it to fit seamlessly into your existing processes.
Some Basic LeadMethod Features:
- Lead Process Automation: Automate your lead capture and assignment, so your partners get leads fast, giving them the best chance of closing.
- Lead Data Append: Auto append your leads in real-time to give your partners better, more detailed information on every lead.
- Partner Engagement: LeadMethod PRM software is a master at distributor engagement, so you know the status of your leads and opportunities.
- Sales Enablement: Help your distributors sell more by giving them the sales training and coaching they need when following up on a lead.
- Reporting And Analytics: Full reporting on what happened with nearly every lead and opportunity, plus performance metrics on distributor sales reps.
- Get Better Information: Managing a distribution sales team requires strong communication. LeadMethod gives you the tools to track sales opportunities and better communicate with your reps and distributors.
LeadMethod Pricing:
Pricing Information is not provided by the vendor. Contact Leadmethod for Pricing Information.
Zoho partner Relationship management is a PRM solution from Zoho CRM. Zoho is a well-known and popular brand, Zoho also provides security services like Zoho Password Manager. Zoho PRM solution can strengthen collaborative selling with an integrated partner relationship management(PRM).
Basic Zoho PRM Features:
- Help Partners Sell More: Get your partners to add channel leads directly to your sales pipeline via partner portals. They can also tag a lead’s current stage to help nurture them across the channel sales cycle. Thus it helps your partners to ultimately sell more.
- Allow Partners To Manage Inventory: Grant your partners access to view products, and quotes and create invoices. Partners can share actionable information from referral programs to enrich your internal team’s sales strategy. Collaborate on deals and capitalize on co-branding opportunities to build a mutually profitable relationship.
- Customization: Customize the way your partners view and enter details. Canvas view allows partners to view their list of contacts in a clear and appealing fashion. Provide them with relevant forms and fields so they can collect information. The CRM admin will be able to edit fields in existing layouts or create custom layouts to suit your needs.
- Guide Partners: Guide your partners with the right training. Host web conferences to educate partners about your product with a simple Zoho ShowTime integration. Engage your partners with polls during the session and clear doubts in real time. Share important documents like graphs, charts, and sheets so they know how your products are performing in specific markets over various periods.
- Sharing Of Information: Gather ideas and suggestions from your partners. Give partners more access to product, contact, or lead modules so they can share their market knowledge. They’ll be able to view records and contribute thoughts by adding notes underneath.
Zoho PRM Pricing
Zoho PRM offers 4 plans for the users:
- Free Editions – Forever free up to 3 users
- Standard – $14 per month/per user
- Professional – $23 Per month/per user
- Enterprise – $40 Per month/per user
Benefits Of Using PRM Software
- New Partner Ramp-Up: Emerging growth companies have very aggressive goals for increasing their number of channel partners over relatively short periods of time. A robust PRM system gives these companies the ability to ramp up new partners by providing the tools to quickly create customized, intelligent partner portals.
- New Hire Ramp-Up: A full-featured PRM solution will have the necessary tools to provide on-demand training, instructor-led training, and virtual classrooms.
- Training and Certification Management: PRM technology provides tools for structuring, launching, and managing a channel training environment.
- Sales Productivity Tools: The right PRM solution can give an emerging growth company the tools to communicate, educate, motivate and measure its channel performance on the sales productivity front.
- Marketing and Communications Support: PRM technologies provide a company with a partner portal environment and tools to manage its channel marketing documents, communications, and other marketing assets within one dashboard.
- Resource sharing: PRM software enables a business to share documents and other co-branded sales assets with partners.
Criteria For Partnership Management Software Evaluation
| Evaluation Criteria | Details |
|---|---|
| PRICING | What is the Cost of the PRM Software? What are the Plans available? |
| FREE DEMO/ TRIAL | Does The PRM software allow you to try the software for a short period before you purchase it? |
| BEST FOR | What Company Size is appropriate for which PRM software? |
| KEY FEATURES | What are the key features that the PRM software is providing? |
| ADVANTAGE | What are the advantages you get while using the PRM software? |
Conclusion On Best PRM Software
As a manufacturer, your customers expect digital self-service as a normal part of the B2B buying process. But what about your channel partners (e.g., distributors, resellers, and others)? Whether you realize it or not, they expect and need similar digital capabilities when they interact with your brand.
Partner Relationship Management (PRM) systems meet your partners’ needs and at the same time offer an effective way to manage the B2B ecosystem. If you search on the internet, there are a whole lot of PRM Software. So here was the detailed list of the Best PRM Software.
I hope you liked reading this article. If you have any questions regarding this topic, please leave them in the comment section below. I will be happy to respond
