Partnerships Glossary

PRM tools, or PRMs, are the systems that enable businesses to manage, optimize and scale all forms of partnerships.

PRM tools help businesses streamline partner engagement, increase sales through their channel network, and foster long-term, profitable partnerships.

See also: Partner Relationship Management (PRM).

Partner Relationship Management (PRM) is the strategic framework and technological system that enables businesses to manage, optimize and scale all forms of partnerships from end-to-end.

While historically focused on resellers as the primary partner type, this view is now antiquated as modern ecosystems have evolved to include diverse partnership models — such as affiliate, referral, technology, alliance, influencer and service partners. Limiting PRM to resellers overlooks the potential of these dynamic partnerships to drive value in co-selling, co-marketing, and co-innovation.

A modern PRM integrates cross-functional collaboration, data-driven insights and seamless automation, empowering businesses to nurture and leverage a wide array of partnerships, creating a more resilient and scalable revenue engine. With a PRM, partners can remove redundant tasks in their workflows and automate them instead. By speeding up workflows, partners and partner managers save time, are more productive and ultimately contribute more to the partner ecosystem.

Synthetic AI is an artificial intelligence model trained on vast amounts of real-world data to generate human-like text, code or other creative content.

This technology finds applications in various SaaS functions, including content creation, customer support and product development. By automating routine tasks, synthetic AI enhances efficiency and productivity. However, it's essential to use it responsibly and ethically, ensuring the generated content is accurate, unbiased and aligned with the company's values.