- March 5, 2024
- Posted by: Larry Walsh
- Category: Podcasts & Videos
Partner Relationship Management is an essential component of every channel organization. However, it’s expensive, difficult to set up, and expensive to own and operate. These challenges led ServiceNow to build its own PRM from scratch.
Partner Relationship Management (PRM) systems are crucial for automating and streamlining communications between vendors and their partners. These platforms offer a way for vendors to manage relationships more efficiently, providing partners with easy access to resources, information, and a centralized hub for data exchange.
Despite the established PRM technology and a crowded market of providers, finding the right system that fits all your needs can be challenging. Many users find themselves grappling with systems that lack key features, require lengthy integration efforts, demand extensive customization, and come with a steep total cost of ownership.
When ServiceNow was on the lookout for a new PRM solution to enhance its channel operations, it faced these exact hurdles. The market offerings were disappointing, characterized by limited functionality, high costs, and an unsatisfactory value proposition. Instead of settling for a less-than-ideal option, ServiceNow took a bold step: It decided to build its own PRM system from scratch.
The decision to develop a bespoke PRM might seem daunting, what with the high initial investment required, but ServiceNow crunched the numbers and found it could not only tailor a system to its exact specifications but also achieve significant cost savings in the long run.
The journey of creating its own PRM system has been so successful that ServiceNow is now considering turning it into a commercial product to offer alongside their IT Systems Management (ITSM) solutions.
Join us as Divya Rajagopalan, Senior Director of Digital Partner Transformation at ServiceNow and the visionary behind the company’s PRM initiative, shares her insights on our “Changing Channels” podcast. She’ll delve into the challenges of finding the perfect PRM solution, the benefits of building your own, and how ServiceNow is transforming channel management automation through innovation. Don’t miss this inspiring story of turning PRM challenges into a triumph of self-sufficiency and potential market opportunity.
