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As the bridge between customers and vendors, channel partners play a crucial role in the company’s success and growth. Adopting a strategy for optimal channel partner engagement may seem confusing, but it is essential to maintain channel partner relationships. Although gradual, channel partners are experiencing a change in the way their relationships are sustained. This…
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How automation can help detect and prevent expense report fraud
The Association of Certified Fraud Examiners categorizes expense frauds into four types. They are as follows: Mischaracterized expenses Personal expenses submitted under the category of business expenses is a frequent occurrence. This eventually adds up as there is no way to determine the category of a claim based on the submitted receipt. Fictitious expenses These…
4Ps to successful partner relationship
When starting the automation process, it is essential to focus on four primary areas to build a robust relationship with channel partners through a Partner Relationship Management (PRM) solution or other solutions. Listed below are the 4P’s that make up the basis of any successful program. The categories below are indispensable and require a comprehensive…
Why rewards and recognition works wonders: understanding the psychology of channel partner motivation and engagement
Employee morale is critical in attracting and retaining talents. When confidence is low, it can lead to reduced productivity and employee satisfaction. The impact of robust channel partner engagement on sales volume, market share, brand reputation, and customer engagement is enormous. The performance of channel partners affects employee engagement as they serve as go-between vendors…
Evaluate your annual incentive plan for 2021 & beyond
With 2020 bringing an upheaval the situation will likely prevail into 2021. The best way to be able to flourish is to start planning. It is essential to adapt to the new normal by reimagining annual and long-term incentive plans for 2021 and beyond. It has now sunk in that the pandemic and its assorted…
Sold t-shirts at 16, cutting-edge digital spending solutions provider today
Raj Narayanam’s fintech Zaggle is an SaaS firm that ensures its clients don’t worry about financial control, as it uses cutting-edge tech to manage enterprise expenses and staff rewards & incentives Way back in 1987, sixteen-year-old Raj Narayanam took up odd jobs in order to pay for a pair of Nike Shoes he wanted. He…
Business spends in the new normal
With social isolation being the only way to combat the spread of the virus, working from home has emerged as the new normal. This shift offers organizations a chance to design expense programs that have more scope than travel and expense. Such a system helps shape the comprehensive, all-inclusive company culture moving forward. Maintaining relevance…
Best KPIs to measure the success of your channel partnerships
When it comes to sales KPIs, there are specific performance metrics that are considered the gold standard by many. This holds within the SaaS sales world with metrics such as revenue, leads, customer lifetime value (CLV), and churn rate. However, the metrics for measuring channel partner success are not as simple as that of a…
Managing remote spendings while maintaining team morale
With working from home set as the new paradigm, it is growing essential to manage meetings, projects, and team communication seamlessly for different teams with different requirements. Organizations usually go ahead and install platforms that allow them to decentralize work. This is the right move given that we are still working to understand the new…
