In order to remain competitive in a global and emerging markets, it is common for enterprises to create value through partnerships. Partnerships can help companies expand into other business areas, increase their product and services offerings, and drive continuous improvements. And meaningful partnerships are the foundation for success.
The value of partnership
However, many of today’s organizations suffer from not enough of the right partners at the right time. Many, especially software companies, tend to gravitate towards the right in time partnering approach which is not always the best approach when building a partner ecosystem.
What is the right in time partnering approach? A right in time partnering approach is where there is a customer proposal and the responding company has a small portion that would be required for a successful bid. This could be a related service, customer knowledge/ relationship, or a contract vehicle. A just in time partnering approach is not effective nor is it strategic. It just meets the need at that moment. In today’s market, the value of a well-defined partner ecosystem cannot be underestimated.
How to partner
Partners are in many ways similar to your customers. They need to be educated and convinced of the value of the solution. If they are sold on the business value and use cases for your software, they will be empowered and successful in bringing these solutions to their customers. Partners come in many different shapes and sizes. They can be systems integrators, resellers, independent software vendors, or consultants with products and services that will complement your product and services offerings and vice versa.
Through interdependence and collaboration, you and your partners will be able to provide customers with the most innovative, most reliable products and services available on the market. Together, you can expand your market reach, enhance your product and services offering and increase sales.
To learn more about ZyLAB’s partnership opportunities and learn how to expand your market reach, please contact us at firstname.lastname@example.org.