Today, PartnerScore launched its new partner success platform aimed at providing both vendors and partners a more effective way to manage the health of their relationships. Uniquely, PartnerScore uses its human relationship platform to drive informed decision making and enable both parties to better understand current and future business performance.
Ecosystems thrive on bi-directional trust, but today vendors and partners have no simple way to measure this. Traditionally the level of trust in the partnership is understood by sales teams who have in-depth knowledge of the people that work within partner teams, but this is only from the vendor perspective. Now in our post-pandemic world, the trend to manage partners digitally has driven vendors to use operational and engagement data as the main source of truth around the health and success of the partnership. Likewise, partners have more choice around which vendor technology and programmes to invest in. However, there are no industrywide benchmarks to help partners make this assessment.
With the launch of the PartnerScore Success platform partners and vendors are now able to ‘truly’ measure human relationship data in a structured way. PartnerScore provides a quantifiable scorecard enabling users to measure and act based on the strength of human relationships within the ecosystem.
PartnerScore’s goal is to become the de facto currency of trust for the partner ecosystem, providing a quantifiable way to measure and understand relationships, which is the missing piece of the jigsaw in the datasets used to manage partner ecosystems and commitment, loyalty and success.
The Platform uses PartnerScore data to predict relationship outcomes, thereby driving business improvement and enabling vendors to prioritise channel investment, while providing partners with a tool to benchmark vendors.
PartnerScore helps to answer key questions around 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 vendor’s business? Do partners trust the vendor? Are the channel programmes underway the right ones? Are the vendor’s business processes aligned to be efficient? How responsive is the vendor to partner requests? The PartnerScore tool answers these questions, creating transparent communication, lowering conflict, and driving joint success.
Dave Ward, PartnerScore Co-Founder and CEO, says: “Today there is an overreliance on operational data with vendors collecting and analysing massive transactional commercial and engagement data from various platforms, online tools and partner portals in an attempt to optimise their partner programmes. Our research showed that the biggest predictor of future partner success is the strength of the human relationship and trust based on a 360-degree assessment by both partner and vendor.”
This intuitive software platform provides regular partner and vendor success scores, gathering pertinent information linked to seven success markers that look at factors such as credibility and mutual trust, social bonding, commitment, cooperation, conflict and communication. This rolling process keeps a finger on the pulse of relationships, reflecting real-time changes in their PartnerScore.
With sophisticated data analysis and diagnostic dashboarding, the platform maps data to the success markers giving a clear diagnostic score for each. A user-friendly and easily configurable dashboard allows organisations to see at a glance the areas in which vendors and partners are either over or underperforming and how this is impacting the overall business performance and the relationship. This constant listening platform elevates feedback to an actionable level, driving change at a senior level.
Dave Ward, PartnerScore, continues: “Today, a lot of analysis is based on gut instinct or retrospective tools and point-in-time questionnaires and other quite intangible rationale that can often be biased. It is also quite one-way, and we want this to be a true 360-degree assessment of partners and vendors alike. Gone are the days when vendors set the agenda, now all parties are equal and bi-directional trust is an imperative – our platform provides a simple way to measure this.”
PartnerScore is powered by an incredibly sophisticated methodology, built on a decade of extensive academic research, which today is underpinned by advanced machine learning and data analytics tools. It represents a true breakthrough in how to manage the vendor/partner ecosystem.
PartnerScore is operating a freemium model for partners, those interested in finding out more should visit www.partnerscore.io and select Start Free Trial.