By David Johnson, Sr. Director Product Marketing
If your company is like most in the high-tech industry, channel sales represent 70% or more of your corporate revenue. With recent global impacts and recoveries underway, now is a great time to review, refine and modernize your channel data strategies. Why?
Many companies rely on homegrown applications, inefficient third-party solutions and services or complex spreadsheets to track POS, inventory and claims data. Many organizations dedicate valuable channel operations and IT resources to build multi-tier solutions that don’t fully automate the process nor address partner management and performance. Add to this the use of external staffing unfamiliar with your channel who manage and massage huge volumes of data in and out of your organization. These out of date solutions and techniques are slow, error-prone, lack consistency, and subject to inferior technologies and skills of outside resources.
Without a modern approach that automates and standardizes, ineffective solutions deliver much less accuracy and data granularity—meaning you could be making business assumptions based on bad data.
How can organizations modernize their channel data strategies to take advantage of consistent and accurate data? Below are a questions that every team should consider when refining their strategy:
- Do we manage our channel business with the same immediacy and effectiveness as my direct business?
- What channel data management activities run smoothly and what areas need improvement?
- How could our organization benefit from more timely, accurate and granular channel sales data?
- What processes are causing the most delays and how can we modernize and automate them?
- What visibility do we lack in fully understanding partner performance, market trends and the competition?
- What partner reporting delays do we have and what does it cost our business in revenue?
As you consider these questions, Model N invites you to read, Six Signs It’s Time to Modernize Your Channel Data Management. This new ebook is loaded with recommendations, strategies and use cases from customers who have modernized their channel sales data. You’ll walk away with new insights and suggestions on how to improve and modernize these key activities.