A four-pointer on how CSPs can forge successful partnerships

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When Bill Hewett and Dave Packard met in the late 30s, little did they know that their tiny garage venture would go on to become one of the largest technology companies in the world. The power of partnerships and collaboration have given us some of the greatest music ever – think Simon & Garfunkel, John Lennon & Paul McCartney…or one Mr. Holmes and Dr. Watson. Well, the point I am trying to make is that when partnerships work, there is no limit to how far you can go and how much you can do.

It can be highly rewarding for CSPs to forge partnerships with diverse players to drive innovation and foster growth, especially in today’s fast-changing technological landscape populated by OTT players such as Google, Amazon, Facebook and Apple, who are focused on innovation and offering unsurpassed customer experience day in and day out, across devices.

To thrive in a digital economy, with its superlative seamlessness across multiple channels, CSPs would do well to choose their partners well and do it fast. Establishing an effective partner ecosystem involves CSPs, current and future partners, customers and internal stakeholders exchanging ideas, products or services. As a consequence, partners may soon evolve into new customers.

A strong partner ecosystem and customer adoption will drive innovation and business growth while opening up new avenues for revenue generation. But, that is just half the battle won.

When it comes to partner on-boarding and management, legacy systems do not augur well. Moving towards a symbiotic partner ecosystem is key as well as having the right systems in place to ensure that partner on-boarding as well as management happens without glitches. Here are the four key points to ensure management of a successful partner ecosystem, to drive innovation, foster business growth and, if I may add, make history:

  1. Simplify collaboration: Look for a solution that offers easy on-boarding while offering a transparent view of operations to partners. When partners get a 360-degree view of the management process, it fosters cohesive collaboration and leads to better engagement. It should also support end-to-end automatic partner management with dynamic agreement and settlements.
  2. Tap into analytics: A partner management solution that offers complete visibility on product performance, pricing, segmentation, next-best offers, related products, et al can speed up decision making on which areas to focus on and where to cut corners.
  3. Make ém the monies: In the end, the primary objective for all involved in the digital ecosystem is to enjoy mutually-beneficial monetary benefits. The solution must enable an easy, efficient and repeatable model for any partner to allow for services to be offered and monetised.
  4. Break free from silos: The solution should enable CSPs to consolidate silos into a single platform to on-board and manage partnerships across all of their verticals.

When one makes up for what the other lacks, we see the makings of a strong partnership. In a world that’s fast becoming driven by technologies changing moment to moment and by populated by people who are connected and oriented to devices, it is only natural for CSPs to be taken in with the flow and gear themselves towards mutually fulfilling partnerships. What can accelerate that process is technology that’s robust, seamless and easy to manage.

Curious how a partner management solution can make a world of difference to your on-boarding and management processes? Write to us at sales@sterlite.com

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