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PRM

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ALSO CALLED: Partner Relationship Management
DEFINITION: Partner relationship management (PRM) is a business strategy for improving communication betweencompanies and their channelpartners. Web-based PRM software applications enable companies to customize and streamlineadministrative tasks by making shipping schedules and other real-time information available to allthe partners over the Internet. Several CRM providers have incorporated PRM features, such  … 
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PRM DEFINITION (continued): … Partner relationship management (PRM) is a business strategy for improving communication betweencompanies and their channelpartners. Web-based PRM software applications enable companies to customize and streamlineadministrative tasks by making shipping schedules and other real-time information available to allthe partners over the Internet. Several CRM providers have incorporated PRM features, such asWeb-enabled spreadsheets sharedthrough an extranet,in their software applications. PRM is often compared to customer relationship management (CRM) and there is some argument overwhether the complex relationships of channel partnerships makes it necessary for PRM to be aseparate entity, or merely a component of CRM.
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