Published on
February 8, 2022
7 Best Partner Management Software
Learn about choosing the best partner relationship management software for your business and seven of the best PRM tools on the market today.
Introduction
Choosing channel partners wisely and maintaining symbiotic relationships, whether with referral partners, reseller partners, or affiliate partners, are important components of any agile business strategy. Using a PRM, or Partner Relationship Management software, can support the many facets of working with partner programs and help you manage channel partners effectively.
Jay McBain, Principal Analyst at Forrester, writes that PRMs support “the entire lifecycle of channel partners” through “partner targeting, recruitment, onboarding, enablement, engagement, communication, development, co-selling, co-marketing” and more! Selecting a good partner management system is like onboarding a superhuman team member who is invested in helping your business grow and reach its goals.
Key differences between CRM and PRM
First, you may be wondering, how is Partner Relationship Management (PRM) different from Customer Relationship Management (CRM)? Well, a CRM tool, like Hubspot, helps your business manage relationships with customers. Using one can save time and money by automating many of the tasks associated with customer relations, such as organizing customer data and improving retention. PRM software has a different focus and provides a B2B portal for channel partners to track progress and grow in mutually beneficial relationships.
As you can see, CRM and PRM serve very different purposes, but they can also complement one another. Data from a CRM can be integrated into a PRM tool, which in turn can help you visualize the big picture and strengthen relationships with partners. There is no one-size-fits-all when it comes to partnership programs, so your PRM tool should accommodate the unique needs of your business and channel partners.
7 Best Partner Management Software
The benefits of using a PRM are clear, but with so many great options available, how can you choose which one is the best fit? When choosing a PRM software, keep in mind some key factors such as your number of partners, budget, and long-term goals. We’ve compiled a list of the seven of the best Partner Relationship Management software options (listed in no particular order) and their key features to take the guesswork out of the process. You can compare and decide which PRM is right for your business!
Kiflo Partner Management Software
With competitive pricing and consistent user satisfaction, Kiflo offers partner management for small and midsize businesses looking to grow and enhance their partner programs. Named a High Performer in the G2 Small Business category, users appreciate the responsive customer support and simple-to-use portal design.
Key Features:
- Connect to over 3000 apps through Zapier
- Reward Program to simplify partner commission and payout
- Unlimited internal users within your organization
Cost: Entry price of $299.00
Allbound Partner Management Software
Valuing integrity, innovation, and perseverance, Allbound PRM is a leader in indirect sales and intuitive partner management. Their partner portal is mobile-friendly, and they offer an array of features to boost recruiting, ensure partner success, and close more deals.
Key Features:
- Partner experience and journey automation
- Co-branding that protects brand integrity
- Channel insights and analytics
Cost: Available upon request
PartnerStack Partner Management Software
Reviewed favorably by small businesses, PartnerStack is a reliable software product for sales. Specializing in a seamless onboarding process, it was named Best Relationship and Most Implementable by B2B review site G2. Their PartnerStack Marketplace helps connect active partners with suitable partnership programs.
Key Features:
- Automated partner onboarding, content, and payments
- Supports running multi-channel programs side-by-side
- Offers resources for optimizing partner programs such as the “B2B buyer’s guide to partnerships software” available here
Cost: Starting at $1,199 monthly
Impartner Partner Management Software
Impartner PRM boasts some impressive accolades including over twenty years of industry experience and awards from G2 and Forrester. Accelerating channel growth through insight and innovation, this PRM increases user revenue and decreases administrative costs.
Key Features:
- Role-based permissions
- Integration with Microsoft Dynamics 365 for a seamless partner experience
- Tailored solutions including international language support
Cost: Plans start at $2,000
LeadMethod Partner Management Software
Starting from the premise that active channel engagement leads to more revenue, LeadMethod is a great choice for manufacturing companies. It offers tools and analysis to ensure distributor success. Many G2 reviewers appreciate the ease of the dashboard interface and the quality of the leads.
Key Features:
- Automated lead capture and distribution
- 2-way CRM integration with over 65 different platforms
- Partnered with Revalize, a revenue management platform
Cost: Available upon request
Magentrix Partner Management Software
In the game since 2012, Magentrix offers an array of streamlined partner management tools. These features include training and certification processes to improve partner skills and increase mutual satisfaction. Their customizable partner portals are designed to maximize collaboration, productivity, and revenue.
Key Features:
- Deal registration and management
- Gamified partner incentive tools supported by TangoCloud
- Offers a 15-day free trial
Cost: Plans starting at $1,499 monthly
Channeltivity Partner Management Software
Channeltivity is a PRM by and for tech companies. It contains a wide array of powerful tools to maximize partner program success, including a resource library that centralizes on-demand access to sales and marketing content for channel partners. Channeltivity also pays special attention to GDPR compliance for Channel Programs.
Key Features:
- Integration with HubSpot and Salesforce
- Social media connectivity
- Offers partner training and certification
Cost: Plans range from $1,399- $1,699 per month
Key questions to ask when choosing a Partner Management Software
When selecting a partner relationship management software, there are some central questions that you and your team can ask internally to clarify what you want to get out of your investment in a PRM:
- What is my organization’s budget?
- What existing software do I use, and can it be integrated into the PRM?
- How much am I looking to grow my partnership program?
Having the answers to these questions can help you streamline your search and hone in on the best partner management software for your organization.
Conclusion
There are many incredible partner management software options available. It can be overwhelming to decide where to begin. From PartnerStack, which offers a native partnership marketplace, to LeadMethod which offers CRM integration with over 65 different platforms, there are a wealth of options available. Hopefully, this list has given you a sense of what’s out there in the partner management software landscape.
We encourage you to do plenty of research and consult with your team members when making your decision. Booking a demo is a great way to learn even more about a PRM and ask questions that pertain specifically to your particular business and partnership situation. If you are a small or medium-sized business, Kiflo is the best choice for you.
.jpg)