The importance of managing alliance information jointly with your partner
This article, co-written by Anoop Nathwani and Peter Simoons CSAP at allianceaccelerator.com and Michael Roch, explores the crucial importance of jointly manage information with your alliance partners and how a digital tool is essential to support the alliance management process and maximise the partnership potential.
The 3 key points are:
1. Why jointly manage information with your partner?
Having alignment on data and performance is essential to building and maintaining alliances. Managing information jointly allows to:
create a central repository that acts as one single source of truth
free up administrative time allowing to spend it on high-value alliance management tasks like maintaining trust, stakeholder management and deepening relationships
communicate with the partner in an easier and more transparent way
2. What information do we manage jointly?
Information that is critical to the success of the alliance such as:
Measurement on values, both tangible and intangible
Alliance health check results and actions
Steering committee meetings and actions and any escalation issues
Operational and business plans
3. How do we manage information jointly with our partner?
The traditional approach of sharing information through PDFs presents data that are quickly out of date and different versions of the truth. So, the most successful organization, use alliance-management platforms such as my company allianceboard to evolve their alliance management practices.
allianceboard is an intuitive, fast and purpose-built alliance management software that host a dynamic version of the alliance’s entire operational plan (milestones, deliverables, risks, events, obligations, payments, etc.) allowing:
both partners to manage and update progress in real time and always see the same version of the truth
Joint Steering Committees to prepare and debrief agendas instantly thanks to the robust governance management function
Stakeholders to receive far-improved analytics, with all relevant information available in their alliance management dashboard: single alliances, aggregated view of alliances for particular partner organizations or a portfolio view by business unit, region or the company as a whole
Fig 1: allianceboard dashboard
To learn more read the full article on allianceboard.
Talk to me about strategies to support the alliance management process and maximise the partnership potential.