What is partnership business in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: partnership business

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Business whereby a commission contract partner is a member of a partnership through the commission contract but acts on behalf of the partnership for all commission-related activities.

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• Key Concepts: 
  Partnership business is a type of business relationship between two or more companies that are mutually beneficial. It is a way for companies to collaborate and share resources, knowledge, and expertise in order to achieve a common goal. In the context of SAP ICM Incentive and Commission Management (ICM), partnership business refers to the ability to manage and track the performance of partner relationships.
  
  How to use it: 
  SAP ICM provides a comprehensive set of tools for managing partner relationships. It allows users to track performance metrics such as sales, commissions, and incentives. It also provides features for creating and managing partner agreements, setting up payment schedules, and tracking payments. Additionally, it provides reporting capabilities to help users analyze performance data.
  
  Tips & Tricks: 
  When setting up a partnership business relationship in SAP ICM, it is important to ensure that all parties involved are aware of the terms and conditions of the agreement. Additionally, it is important to ensure that all parties are aware of their responsibilities and obligations under the agreement.
  
  Related Information: 
  SAP ICM also provides features for managing customer loyalty programs, sales promotions, and other incentive programs. Additionally, it provides features for tracking customer satisfaction and customer feedback.