A channel management solution strengthens the professional bond between both the parties. Vendors are dependent on their channel partners for generating the maximum possible revenue. When a business is expanded through a myriad of channels, it becomes difficult for the vendor to analyze and gauge the revenue curve. A channel supervision service does not conflict with the other integral components of a strong and mutually beneficial business relationship. It is a kind of integrated partner portal which helps the vendor to maintain an excellent business relationship with the entire distributor network and vice versa.
What are essential features of this channel management tool? Below is the brief description of its features:
- Market prediction
No entrepreneur can neglect the importance of market prediction. It is deeply seated in the entire business operation of any vendor company. A partner portal helps one to predict the sales and marketing figures which is a continual process. Charts and graphs are used to predict the market trends and sales figures as well. Before buying a system of this type check whether these components are included or not.
One of the many essential utilities of a channel management system crm program Singapore is that the vendor company can communicate with their channel partners easily. This is extremely important because several issues arise during the sales process and these problems should be promptly resolved. On the other hand, vendors often need contact with their channel partners and Value Added Resellers (VAR) in order to discuss business expansion plans, receive valuable inputs that are accrued from the market by their partners and so on. The whole communication process is mobilized through with the help of a good partner portal management system. The entire database of the business partners can be maintained.
- Lead generation and management
Anyone who is in the sales and marketing field would endow high importance to lead generation. A channel management system which is equipped with a huge client or partner database that can be updated regularly helps the user or the vendor to generate and manage the leads through distributor channels more easily. The vendor can easily contact a distributor, receive the latest lead reports and help different distributors exchange leads and so on. A centralized partner portal management tool should contain these features as well.