Partner Relationship Management

Partner Relationship Management (PRM) is the process of working closely with partners in other company departments and outside the company to jointly bring greater value to customers. It refers to the way partners do business with one another and share information. To be good at CRM, marketers should be good at PRM. For example Bharti Airtel Limited's (India’s Largest Telecom brand) partner engagement strategies focus on selecting the most capable partners worldwide and continuously working with them to enhance their capabilities of providing conforming goods or services, on time. They have now partnership with Twitter. Now by this people have the opportunity to connect to Twitter and enjoy the open exchange of information with no added fees. The fundamental criterion for selecting and developing a long-term relationship with their partners is Best Value. Best Value applies not only to product cost, but also to costs and risks of acquisition and materials handling. Best Value, therefore includes the partner's service level, contribution to initiatives, and conformance to quality on all the requirements. Bharti Airtel's PRM Process comprises of the Categorization, Rewards & recognition, Satisfaction level, Grievances and Communication.

Reference:
http://www.airtel.in/partnerworld/Partner_Process_Relationship_Management.htm