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.
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.