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The pandemic continues to unfold and evolve in unpredictable directions. With work from home and social isolation still being enforced, business leaders need to come up with novel protocols and policies for the business to run smoothly with complete visibility and control. With several key industries such as travel and aviation being reconfigured, business operations…
5 Key Pitfalls to Avoid for Building the Best in Your Channel Partnerships
Introduction Channel partners are invaluable to businesses as they can generate a large portion of the revenue. Incentive programs are integral to channel partnerships to support the company’s sales objectives and boost sales by increasing loyalty and motivating channel partners to sell. However, the inherent risks in the incentive programs must be mitigated by instating…
Boost Employee Productivity with Expense Digitalisation
Introduction Employee expenses and reimbursements form an integral part of business expenditure. The traditional systems of tracking and reimbursement of expenses are heavily reliant on paperwork These methods are time intensive and rely on manual work to ensure accuracy. Such systems greatly affect the productivity of employees as a lot of time is spent on…
Effective Channel Partner Incentive Planning for the Pharma Industry
Traditionally, the channel partner model generated significant sales in the pharmaceutical industry. However, in today’s digital world, physicians and other medical professionals are already armed with prior research, making it difficult for channel partners to influence them to buy. In many cases, physician access creates an issue, limiting the number of visits sales representatives can…
Going Cashless to Simplify Employee Expenses and Payments
Managing daily employee expenses can be a daunting task. From reimbursable costs (such as local conveyance, flights, hotel bookings, meals, etc.) to payments like canteen and parking to employee performance rewards, employee expenses constitute a significant portion of the total business expenditure. While a travel and expense management system made it easier to manage expense…
Tips to Attract and Retain the right Channel Partners
As more and more businesses rely on channel partners as a significant revenue source, attracting and retaining the right partners becomes a foremost priority. Finding the right partners and providing them with adequate training, resources, and feedback are some of the challenges organizations face. Moreover, to ensure channel partners are productive and profitable and to…
Understanding per diem allowance: benefits, cost, and implementation
In many companies, employees travel extensively for work, be it client meetings, conferences, or training. As a result, companies spend a lot of money reimbursing the staff for all kinds of expenses, including airfare, meals, and lodging. While a few employers reimburse actual expenses, some organizations have started using the per diem allowance method that…
Overcoming the challenges of channel incentives in the new normal
Owing to the COVID-19 pandemic, today’s highly competitive digital landscape has transformed how B2B buyers purchase products. A significant share of B2B revenue comes from channel partners. However, by the time channel partners begin their work, the buyer has already done comprehensive research on the product and the brand and may require additional persuasion. Therefore,…
Smart Onboarding to Maximize Partner Performance
A structured and seamless partner onboarding program forms the backbone of strong relationships with your channel partners. After all, channel partnerships open avenues for market growth by providing access to new customers. Smart, impactful onboarding is the key to building the partner relationships you desire and maximize partner performance. Poor onboarding of a new channel…
