Definition - What does Deal Registration mean?
Deal registration is a program of channel partners in which the vendor is informed about a business opportunity and is provided priority for it. The channel partners, like system integrator partners or value-added resellers, are provided with a definite period to bring the deal to a closure. However during this time, a vendor’s own sales team or other channel members are prohibited from striking a similar deal with the particular lead. Deal registration helps in lowering the channel conflicts between the channel members of a vendor’s internal sales team.
Techopedia explains Deal Registration
Deal registration was initially created to help vendors with channel conflict management and to protect margins, however it has been adopted as an industry best practice, especially by technology vendors as part of their partner programs. It has also helped with bringing better reliance on strategic relationships for both resellers and vendors. Deal registration helps technology vendors in scaling complex, multistage or multi-stakeholder environments. It also helps in evolving business transformation models for both services and products. When it comes to deal registration, not all vendors offer it, and in some cases vendors only offer deal registration to specific channel partners. There are all cases where vendors offer help to partners to complete the sale. A deal registration can be handed over to another partner by the vendor under extenuating circumstances, for example when the lead insists on another partner.
There are some advantages associated with deal registration. It helps in bringing out a strong partnership and trust between the vendor and partner channels. It also helps in bringing better and higher margins for a more competitive position. Another advantage is the protection offered to the business opportunity discovered by the vendor. It also helps in ensuring a fair program to all the partners. In many cases, the vendor helps channel partners by providing access to resources, support and helping in the different sales processes.
Deal registration is most commonly used in the areas of software, telecommunications and computers.