Businesses understand the growing importance of partnerships in the business world, especially with the rise of software as a service (SaaS). While some organizations prefer to handle everything in-house, many are realizing the benefits of working with external partners. This trend is slowly taking hold in Germany as well, with more and more companies using SaaS to improve their operations. However, the idea of using distribution channels to sell products is still not widely popular in many organizations. Partner relationship management (PRM) is a relatively new concept that aims to help companies manage their relationships with partners more effectively, particularly for those that offer SaaS and need to maintain relationships with enterprise customers.

It is important to have a strong understanding of a partner network and the use of a PRM tool to manage those relationships efficiently. Education and onboarding are critical to making partnerships successful. Finding partners with specialized knowledge in a niche area can increase the chances of landing deals. There is still a lot of opportunity in the market for tools that can help companies discover the right partners and understand their track record and financial stability. While such a tool may not be available yet, consultancies can assist with this research.

Understand the value of strong partnerships for businesses and invest in the right tools and resources to make those partnerships successful.