PartnerScore, powered by Mindshare, offers a new, more efficient way to manage a partner network
London, United Kingdom – November 12, 2020 – Today, PartnerScore is launching its new SaaS product that offers technology providers a new way to manage their partner network. PartnerScore uses relationship health to guide decision-making because it is the single greatest predictor of future business performance.
Technology vendors are constantly challenged to optimize their partner-based models. In many cases, they offer the same incentives and support to partners, but cannot figure out why they get completely different performance from each partner in return. PartnerScore unlocked this problem through extensive research and determined that it is the health of the (partner) relationship that is essential. Understanding how the partner views this relationship and what drives engagement health is key to unlocking meaningful value.
PartnerScore was created to provide this insight into the health of relationships. In doing so, it helps answer key questions about what needs to be done both strategically and tactically to improve the relationship. For example, are the partners really committed to the future of the supplier’s business? Do the partners trust the supplier? Are the current channel programs the right ones? Are the supplier’s business processes aligned to be effective?
The PartnerScore tool is able to answer these questions and thus enables a better level of channel and individual partner management.
Dave Ward, co-founder and chief product officer, says, “Vendors collect and analyze massive amounts of real-time and transactional data from PRM platforms, online tools and partner portals with the aim of optimize their partner programs. PartnerScore uses the latest technologies to quickly provide context to the huge volume of data collected and helps identify actions and investments that will improve business performance. “
PartnerScore is a unique approach that makes the combined power of extensive B2B relationship research and academic rigor accessible to the channel business community. This intuitive software platform performs regular partner health checks across the channel, gathering relevant information related to seven key health markers. This rolling process keeps tabs on the pulse of partner relationships, reflecting real-time changes in their HealthScore.
PartnerScore enables organizations to not only collect data and analyze it to understand the state of their channel relationships, but also to build a plan and track progress against it, ensuring continuous improvement of their channel ecosystem.
With sophisticated data analysis and a diagnostic dashboard, the platform maps partner data to seven health markers giving a clear diagnostic score for each. With a user-friendly and easily configurable dashboard, organizations can see at a glance where suppliers and partners are overperforming or underperforming and their impact on overall business performance and relationships.
Ian Bamford, Co-Founder and COO, PartnerScore comments: “Today so much business goes through the channel, but there are often quite basic metrics in place that organizations use to assess the performance of those relationships. In the past, analysis has been done based on gut instinct or hindsight tools and ad hoc questionnaires and other fairly intangible justifications that can often be biased in favor of one partner over another. . Now, with PartnerScore, it takes all that gut feeling and turns it into a concrete score to measure the health of the relationship. But not only that, it allows both parties to put together an action plan to get the business where they want it to be – and more importantly, stay there.
PartnerScore is about predicting and improving performance. Previous assignments using the underlying academic methodology, known as “Mindshare”, have delivered:
- Constant and consistent measurement of what partners really think of the relationship
- Real-time, fact-based feedback for partners
- A framework for effective/targeted account investment decisions
- Identification of revenue growth opportunities
- Protection against loss of income
- Improvements around partner retention rates
- Identify cost optimization and business process disconnects
- Reviews around account management efficiency in a never-before-seen way that identifies productivity opportunities.
Peter Ward, co-founder and CEO of PartnerScore adds: “In 2021, and following the severe impact of the COVID pandemic, it will become even more critical for companies to truly understand how their partners operate rather than guess their next moves. This platform is unique in its ability to allow providers to get an open and transparent assessment of the status of their channels. This will allow them to take appropriate and timely preventative action to deal with constantly changing conditions, rather than trying to look in the rear view mirror and close the stable door after the horse has run away. PartnerScore is built on an incredibly sophisticated methodology, grounded in a decade of extensive academic research that is now backed by advanced machine learning and data analytics tools. A real breakthrough in the way of managing partner networks.
Drawing on more than a decade of academic research, PartnerScore provides a definitive diagnostic window into the health of partner relationships. The HealthScore provides a unique digital relationship measure enabling informed change and stronger, more resilient partnerships.
PartnerScore uses a proprietary methodology called Mindshare. Originally developed from doctoral research, it was refined and rolled out to companies across EMEA over several years before being redesigned in its current form. This adaptable model has examined over 10,000 partnerships across multiple geographies and provides a definitive way to measure the health of partner relationships. As an advisory diagnostic tool, Mindshare has provided unique insight into the behavioral characteristics that drive partnership longevity and performance. The power of Mindshare has been applied with great success for several years with leading IT companies.
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