Growing dependence on outside sales channels and external distribution networks across various industries in the b2b environment is the key factor propelling the growth of global partner relationship management market. Partner Relationship Management (PRM) is an application software used to optimise the process for reaching customers through indirect sales channels such as resellers, distributors, brokers, agents and other service partners. Partner Relationship Management (PRM) software is used to define the strategies and methodology for managing relationships between vendors and their channel partners. Partner Relationship Management (PRM) software enables the organizations to streamline and customize the business processes throughout their distribution network, by integrating various functionalities, which includes partner requirement, partner on boarding, partner adoption, partner training, partner program management, business plans, channel marketing, channel sales, certification management and business strategy.
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Global Partner Relationship Management Market: Market Dynamics
Growing need to control the functional relationship between the organization & external partner channels, and continuous investment by various organizations to enhance partner communication & to reduce the channel management costs, are the factors increases the demand for partner relationship management (PRM) software globally. Additionally, rising need to provide real-time information, visibility and access to organization’s business strategy, channel plans, new product offerings, and promotional contents across various sales channels, partners, retailers and vendors, accelerates the growth of partner relationship management (PRM) software globally. Also, growing importance to measure the performance of promotional incentives, individual & overall partner performance and sales performance across various channels, further fuels the growth of global partner relationship management market.
Global Partner Relationship Management Market: Segmentation
The global partner relationship management market can be segmented on the basis of
- Deployment type
- Industry vertical
On the basis of deployment type, global partner relationship management market can be segmented into on-Premise and cloud.
On the basis of solution, the global partner relationship management market can be segmented into on-board, engage, collaborate, support and monitor.
On the basis of industry vertical, global partner relationship management market can be segmented into IT services, manufacturing, healthcare, banking, financial services and insurance (BFSI), retail, telecommunication and others.
Regionally, global partner relationship management market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.
Global Partner Relationship Management Market: Regional Outlook
North America is expected to dominate the market due to continuous investment on effective partner coordination solutions and the presence of major partner relationship management solution providers in the region. Asia pacific is identified as the fastest growing market due changing demand patterns and increasing digital initiatives to enhance the partner relationship.
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Global Partner Relationship Management Market: Competition Landscape
The key vendors in the global partner relationship management market, include salesforce.com, inc., Oracle, Impartner Software, NetSuite Inc., Apttus Corporation, PartnerPath, Pegasystems, Entomo, Inc., bpm’online, Bitrix24 and Gorilla Toolz.