To drive revenues from complex and extensive distribution channels, organizations require formalized programs for selling and servicing customers, as well as mechanisms for centralized administration and monitoring of channel operations. The creation and implementation of these programs is commonly known as channel management. Effective channel management is required to secure channel loyalty towards your company brand, while ensuring that partners are well-aligned with your corporate targets, marketing and sales communications.
In today’s marketplace, the management of dynamic hierarchies and multi-tier relationships among partners, agents and resellers is a challenging task. Commission payments to the channel, based on complex incentive plans, must be accurate and auditable (this can often reach up to 10% of an organization’s sales expenses). Tools that effectively manage the administration and performance of sales channels can help companies to grow channel revenue and increase partner loyalty, while increasing visibility and reducing costs.
The Channel Management module is a fully integrated component of INCENTIVES-SPM, an innovative Compensation Management and Sales Performance Management (SPM) solution. This module enables organizations to execute and manage their channel management program and activities. This includes setting goals for each channel segment, defining account administration policies, identifying the products most suited to a particular segment, and building sales/marketing programs to meet each channel’s needs.
The module enables your channel administrator to: