PARTNER RELATIONSHIP MANAGEMENT SOLUTION MARKET ANALYSIS

Security and privacy concerns are significantly restraining the growth of partner relationship management solution market. With organizations increasingly relying on third-party partners to expand their business and market reach, sensitive commercial information is routinely being shared with partners through PRM tools. However, cyber criminals are also focused on exploiting any vulnerabilities in these solutions to access and misuse valuable partner data. Recent cyber-attacks on large PRM platforms have compromised huge tranches of partner information, denting customer trust in these services. Enterprises are wary that a security breach in their PRM solution could damage partner relationships, and also result in financial and legal repercussions if the leak involves personal data.

Market Opportunities: Integration of augmented reality and chatbots

The integration of augmented reality (AR) and chatbots holds potential in revolutionizing partner relationship management solution market. AR and chatbots when combined allow for truly immersive and interactive experience for users to engage and collaborate with their partners. Through AR technology, partners can be provided virtual tools to see how proposed products or services would look in real-world environments. For example, partners of a furniture brand can use AR to view how various sofa designs would fit in their showroom using nothing but their mobile device or smart glasses. This provides a seamless way for them to visualize and choose the best options to drive sales.