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How does the business review and audit module function on the PowerPRM platform?
by Paweł Oskory on July 9, 2024 You read:
How does the business review and audit module function on the PowerPRM platform?
Good relations with business partners are one of the success factors of any organization, especially those that operate in a network model. Multidimensional cooperation, based on transparent conditions, translates into numerous benefits, i.e. expanding the market, increasing turnover or increasing customer loyalty. Achieving these goals requires the implementation of appropriate tools to support not only day-to-day work, but also proper management and strengthening of relationships. The PowerPRM (Partner Relationship Management) platform and the reviews, audits and visits module, which is part of it, can help develop each of these areas.
To enable the effective development of all partners operating within your ecosystem, mutual trust, transparent collaboration, as well as the ability to control and evaluate are needed. Therefore, it is necessary to verify the quality of cooperation, assess the effectiveness of joint assumptions, and the productivity of your business partners. The Reviews, Audits, and Visits module, part of the PowerPRM platform, supports these business areas, aimed at evaluating jointly implemented goals and striving for continuous improvement and process optimization.
Business review/audit as a support tool for modern business
Determination of the purpose of the audit, verification of results (e.g. efficiency of partners, communication, realization of the quality of cooperation) and analysis of collected data against defined guidelines or indicators are the areas of review/audit implementation. This form of evaluations, through a defined scoring system, makes it possible to clearly define the level of partner involvement in the verified area – quarterly, semiannually, or annually. A review/audit is planned as an on-site visit or an online meeting, which follows a scheduled scenario. It also makes it possible to jointly identify areas that need support using the PowerPRM platform and the tools it offers – defined individually by the organization.
Testing the quality of cooperation in a few steps
Planning a review or audit and its implementation through a dedicated module in the PowerPRM Platform is simple. In a few steps, you define the parameters of the review to be conducted, its duration and the questions, which can be defined as new ones used from a database of questions or created templates that provide additional value. They allow the collection of standardized data from partners and further process it when creating various types of reports that allow the organization to identify elements for improvement or change.
A key element of the audit/review is the scoring function, which allows assigning weights to individual responses. As a result, a detailed summary of the audit results is available immediately upon completion of the process. But that’s not all, the audit module in the PowerPRM platform is a universal tool. This means that both an employee and an organization can be subjected to such an audit. In addition, at the time of planning this process from the organization (back office), it can be visible on the portal (if the organization so wishes).
Periodic evaluation
Review and audits with the PowerPRM platform can be conducted over a period set by the organization. Their schedule can depend on specific business needs. At the beginning of the cooperation, they can be implemented more frequently (e.g., monthly), and then less frequently (quarterly/semi-annually/annually), depending on the level of achievement of objectives. They can also be implemented in ad hoc situations, in a situation that requires urgent verification or the need to examine certain elements of cooperation. The key, however, is that review and audits implemented in the long term should be well-defined, clearly defining the objectives and needs of the audit.
Audit - additional value for the organization and the partner
Business reviews and audits contribute not only to strengthening relationships but also to enhancing the effectiveness of cooperation and achieving KPIs. Organizations using the PowerPRM platform describe the review and audit module as a comprehensive tool that serves the following purposes:
- Coordinating and strengthening relationships – Quickly and accurately identifies problems occurring with partners and enables them to be resolved at the relationship level based on mutual trust.
- Verification and evaluation of cooperation – It allows for effectively and quickly monitoring and evaluating the effectiveness of achieved goals or the quality of services delivered by business partners.
- Identifying risks and opportunities – Allows identification of business risks and optimization of areas where the business partner may need the organization’s support.
Precise definition of expectations and clear communication are the foundations of building business relationships. Benefits accrue not only to the organization, but most importantly to the partners. They determine the success of both parties and are a guarantee of effective cooperation. The organization, providing clear guidelines, enables partners to act in accordance with established standards and goals.
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