Research from Forrester shows that brands that provide an enhanced channel partner experience grow faster, generate more revenue, and drive higher customer satisfaction and retention downstream.1 And the most effective way to enhance that experience is by leveraging channel sales data from across the partner journey.
Unfortunately, that has not always been easy to do for high-tech companies. This data has historically been siloed, with dozens of disconnected systems and manual reporting processes. But with an automated solution that delivers timely, accurate, and easily accessible data, companies can unlock a treasure trove of insights and use them to improve demand planning, optimize programs, improve marketing, and drive profitable growth.
Here are three key areas in which Model N Channel Data Management can optimize the quality and accessibility of your channel data, along with commentary from one of our customers, Sonos, about how they are using the solution to accelerate the success of their partner program.
Channel inventory and demand planning
To stay profitable and satisfy customers, high-tech companies must meet demand for products while minimizing excess inventory and avoiding supply chain disruptions. Model N provides a accurate source of truth for real-time inventory levels and point-of-sale (POS) data across multiple indirect channels (retailers, distributors, resellers, VARs, MSPs, etc.), as well as accurate run rates by location.
This capability is proving invaluable for Sonos – an audio technology developer and manufacturer – as they enter the busy gift-giving season. With limited resources, factors such as delays in product registrations due to high volume and multiple promotions running simultaneously by downstream retailers make it difficult to keep track of what is selling, where, and how. “During peak season, we cannot keep in constant communication with (channel partners) like we usually do to get the right data,” said Senior Systems Manager Ruchita Deshpande. “So we tune the frequency of the data to get it more often. And that’s much easier done with Model N’s platform because everything that follows – like the APM (Active Partner Management) alerts, the frequency of ingestion – all of that can be synced.” With the ability to get POS, inventory, and serial number data delivered hourly, Ruchita can be confident she always has the latest information to respond quickly to changes in stock.
Channel performance and insights
From calculating and paying incentives to allocating market development funds (MDFs), there are many important decisions that rely on accurate channel insights. Model N captures and validates data on product performance, partner performance, bundles and service adoption, new customer identification, and key promotion and revenue opportunities to help drive strategic business decisions.
At Sonos, this saves Ruchita the time and frustration of hunting this information herself. “This helps us make better decisions in terms of our channel inventory, channel allocations, and obviously expansion projects,” she said. “Model N’s support has been really instrumental in helping us achieve all of that.” Downstream teams at Sonos from Demand Planning to the New Product Introduction team all rely on key performance data through these indirect channels to validate key performance indicators to help drive each decision made.
Managing partners and data effectively
Just as your company needs timely and accurate data from channel partners, they need the same level of accessibility in return. Managing these unique relationships takes time and can distract your sales team from selling. Model N automates these relationship management processes and makes it easy for partners to do business with you by ensuring quick responses to their requests, providing proactive management of their inventory, and accurately paying their rebate claims on time.
“With Model N, we have a dedicated customer success and partner management team that reduces any heavy lifting from the Sonos team,” said Ruchita. “We don’t have to have dedicated data people, even at the regional level. I am the channel data program manager, and one resource is enough.” Ruchita also highlighted the process the Partner Management team follows with new partners for Sonos. This allows Ruchita and team to simply tell Model N what type of partner they are onboarding, and Model N will use the correct onboarding communication and data template. This makes it easier to bring these new indirect channels onboard. Quick turnaround time when onboarding new partners ensures the Sonos team has new partner data at their fingertips from day 1.
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Model N Channel Data Management
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Reference Articles:
1 Jay McBain. “Channel Data Is a Competitive Differentiator.” Forrester. January 2019.
