NetSuite, Inc., the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Forrester Research, Inc. has recognized NetSuite's Partner Relationship Management (PRM) offering as a "strong performer" in a November 2013 report on PRM platforms.
NetSuite was among a select group of companies that Forrester invited to participate in The Forrester Wave™: Partner Relationship Management (PRM) Platforms, Q4 2013. In this evaluation of seven PRM vendors, NetSuite's Partner Relationship Management functionality:
• Ranked #1 or #2 in scores for lead management, business intelligence (BI), business planning, customization, corporate strategy, geographic scope and customer base criteria.
• Is unique in offering PRM as a seamless module in an integrated suite including Enterprise Resource Planning (ERP), CRM, ecommerce and professional services automation (PSA).
• Provides strong support for partner support (help desk ticketing), BI, collaborative business planning and global support.
• Enables channel professionals and partners to easily incorporate order history into analytics involving future projections.
According to the Forrester report,"NetSuite and another vendor lead in PRM market presence, leveraging their strengths in CRM." The report notes,"NetSuite PRM is a seamless module in its ERP/CRM-centric portfolio. NetSuite is unique in that it offers an integrated suite of business applications including, along with its PRM solution, ERP, CRM, PSA, and ecommerce products." The report adds,"NetSuite's PRM product's unique feature of being an integrated element of an ERP-centric business suite gives this product an upper hand with partner order history and creating business rules."
NetSuite PRM Enables Real-Time Partner Collaboration
NetSuite's PRM is a one-stop-shop for real-time collaborative channel management, giving organizations full control over every element of the partner-focused sales and marketing process, including joint marketing campaigns, lead management, sales forecasting, pipeline management, order processing, and partner commissions and royalties. Companies benefit from real-time visibility into the entire partner marketing and sales process from opportunity to order to commission helping organizations to cultivate an educated, enabled and productive channel that dramatically expands revenue and market opportunities.
With NetSuite's PRM, partner management teams can greatly improve partner relationships and equip their channel with the tools and real-time information needed to achieve mutual objectives. NetSuite PRM delivers integrated functionality in the areas of:
Lead management. NetSuite's PRM enables vendors and partners to track partner leads and referrals within a single application, with built-in analytics to assess lead generation volume, conversion rates and ROI by lead source.
Forecasting. Users have accurate up-to-the-minute partner sales forecasts that include the projected amount of sale, probability of close and weighted amount of each transaction providing visibility into potential revenue at each phase of the sales cycle.
Campaigns and promotional discounts. NetSuite's PRM supplies a collaborative environment to set up promotions and discounts, as well as analyze key marketing data, including leads, closed sales and ROI from joint marketing.
Sales tracking and order management. Partners get the ability to place and track orders themselves and access up-to-the-minute volume and negotiated pricing, helping ensure pricing accuracy while minimizing manual work by the vendor's sales and support teams.
Commissions management. Vendors can calculate partner commissions based on the same parameters as employees, such as commission on sales, quantity, inventory, profitability, inventory total profit, and more.
Sales and marketing library. Vendors can empower partners with on-demand access to a full library of sales and marketing resources, such as marketing collateral, competitive selling guides, presentations, product fact sheets and other sales tools.
Today, more than 16,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite (netsuite.com) has established itself as the leading provider of enterprise-class cloud financials/ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations as demonstrated in a recent Gartner study naming NetSuite as the fastest growing financial management software vendor on a global basis. NetSuite continues its success in delivering the best cloud ERP/financials suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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