Partner Relationship Management

What Does Partner Relationship Management Mean?

Partner relationship management (PRM) is a business process by which an organization incorporates policies, procedures and methodologies to deliver, manage and maintain its relationships with external business partners.

Advertisements

PRM allows organizations to automate interaction with business partners through the use of specialized, Web-based PRM software suites.

Techopedia Explains Partner Relationship Management

PRM may include provisioning products and services for an array of partner types, including suppliers, distributors and resellers. It also may support joint products or project development.

PRM incorporates processes, such as commissioning new products and services for resellers, invoicing a facility for suppliers, joint marketing/promotional campaigns with distributors and centralized business communication platforms for all partners.

Advertisements

Related Terms

Margaret Rouse

Margaret is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical business audience. Over the past twenty years, her IT definitions have been published by Que in an encyclopedia of technology terms and cited in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine, and Discovery Magazine. She joined Techopedia in 2011. Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages.