How to build a strategic partnership with an industry giant

As an enterprise software business veteran, the expression “a rising tide lifts all boats” resonates strongly with me. I believe that for our industry, it delivers the message that by being part of a strong tech ecosystem, all players become stronger. This is why every successful business must be on a constant mission to create partnerships that enable them to innovate faster, improve collaboration, develop better products and satisfy more customers.

As a world leader in telecom analytics, we at Panorama looked to achieve these objectives by reaching out to the best potential partners in the telecom ecosystem. While we recognized that having a great product is an important aspect of our success, we understood that to shine brighter in offering telecom analytics to CSPs worldwide, we needed the right go-to-market partner.

When communication and media industry market leader Amdocs approached us with a partnership proposal, we were both impressed and honored. But we first needed to determine if it was the right fit. This meant considering whether a 25,000-employee giant, who counts the world’s leading telcos as its customers was akin to trying on shoe that’s too big. Those fears dissipated however, upon meeting the company’s partners team led by Sarit Sagiv and Eyal Adanya, who with true professionalism guided us through their engagement model, which turned out to be the perfect fit for our business. It was like partnering with a start-up: agile, fast, innovative and focused – with all the great things a giant can bring, including scale and reach.

In the year that followed, our pipeline grew to exceed $150m as we acquired dozens of joint customers across five continents. Meanwhile, our differentiation and value proposition were seized upon by CSPs who care about SLAs, global services and scale. The message was that a great partnership is created by a combination of great people and a cultural fit.

One of the highlights of Panorama’s networking calendar is the Amdocs Partner Business Forum, which this year takes place in Madrid on May 21-22. This being our third time in attendance, I’d like to share our top do’s, don’ts and “never ever dos” for the event.

Do’s

1.Create a joint story. A good partnership starts with a great, compelling story to tell your customers. Think of it as three points of a triangle: the customer, Amdocs and you. Gil Rosen, President and general manger amdocs:next, who will be presenting at the event is one of the best story makers I’ve ever met. Don’t miss him.

2. Ensure product alignment. Even a good story can achieve only so much. It’s your products that form the tangible pillars that deliver value. Make sure your product is ready for prime time – available for enterprise customers with the right quality, as well as the best SLA, integration points, user interface and user experience. For example, Panorama has worked closely with the Amdocs Open Innovation Team to help map our synergies. Another point is that it’s much easier to sell on top of what’s already being promoted by the Amdocs sales team. So, when working with Amdocs, align your service offering with theirs, ensuring you can add both value and volume to your joint story. To learn more, hear Avishai Sharlin, general manager and head of Amdocs technology, who will discuss how the company is accelerating its technology journey, and how their partners fit into the picture. Also, during the event take the opportunity to start a discussion with the Open Innovation team members who will be there to meet you.

3. Do your homework. Amdocs is a large organization, comprising many parts and divisions. Before approaching customers, understand your partner. This is the purpose of the “speed dating” workshop, which provides an energized setting to meet multiple key account stakeholders and Amdocs customers within a short time, quickly identify mutual opportunities, and subsequently follow them up – both during the event and beyond. I also suggest you invite your partner manager for a coffee and work together to establish a joint strategy when approaching a customer. To learn more, hear Gil Priver, general manager of strategy, corporate development & ventures, share his thoughts at the event on Amdocs global perspective and strategy.

Don’ts

1. Impatience destroys value. Remember your CSP customers’ timescales don’t necessarily align with your own. There is an enterprise sales process to follow, comprising steps that can take time. Manage your expectations accordingly.

2. Don’t rely on Amdocs to perform your heavy lifting. While they might be the “body builder” in the partnership, the onus on creating an enablement plan falls on you. This includes showing creativity, while ensuring your teams know how to package, market and sell your product in alignment with Amdocs’ offering.

Don’t ever do

1. Never quite midway. Place your bet and follow it through to successful completion. If you began the race to land a specific customer with Amdocs, stick with it. Switching partners midway will damage your relationship with both your partner and the customer.

For more about the Amdocs Partnership Forum, read my insights from last year’s event, where we appeared on stage with Amdocs CMO Gary Miles.

Raphael Sankar our VP Sales & Business development will lead the delegation for Panorama at the partners event coming up. If you’re attending the Amdocs Partner Business Forum on May 21-22, 2019 in Madrid, meet him there to see how together, we can make all boats rise https://www.dhirubhai.net/in/raphaelsankar/.