Cisco Enhances Partner Program to Drive Partner Differentiation and Profitability
MIAMI BEACH, Fla., Nov. 8, 2023 /PRNewswire/ -- CISCO PARTNER SUMMIT -- Today at Cisco Partner Summit 2023, Cisco (NASDAQ: CSCO) announced new features, enhancements and tools for its extensive partner community. As Cisco invests in creating more business value throughout the entire customer lifecycle, it has initiated a significant evolution of its flagship incentives to reward partners for selling Cisco hardware, software, and as-a-service solutions. To support partners' competitiveness, Cisco is adding up to six new Solution Specializations within the next nine months.
"The Cisco Partner Incentive is the biggest change we've made to partner incentives in more than a decade and is the capstone on the Cisco Partner Program evolution started in 2020," said Marc Surplus, Vice President of Partner Strategy and Programs at Cisco. "In broadening Cisco's suite of Solution Specializations, we are helping our partners differentiate in the market and demonstrate their expertise in the technologies and solutions sought by customers."
Cisco also introduced several enhancements to the Partner Experience Platform (PXP), a personalized online portal to support partners' productivity, competitiveness, profitability and go-to-market strategies. PXP has been augmented with AI/ML-powered predictive insights that can guide partners in ways to differentiate and grow their business. These enhancements are complemented by a revamped dashboard that provides a holistic view of funds activities and investments, removing the need for costly third-party tools.
PXP will also see the introduction of a Sustainability Estimator, exclusively available to Environmental Sustainability Specialized partners. Launching on November 20, 2023, the Sustainability Estimator will provide partners insight into the estimated energy savings, emissions reduction, cost reduction and environmental impact that a customer may realize by modernizing their IT hardware. The tool is also supported by a new Sustainability Partner Journey with resources and collateral to help partners build their sustainability practices.
Partner Incentive Aligning with Customer Value and Growth
The new incentive will cover three tracks: 1) non-recurring offers, 2) recurring offers and 3) customer value. Partners will earn rebates based on the Total Contract Value of a closed sale, completion of activities to drive customer adoption of the solution, and Incremental Annual Contract Value as they increase subscriptions. Additionally, partners will have the opportunity to earn bonus rewards-based investments in their Cisco practice or selling solutions. The Cisco Partner Incentive will complement recent changes made to Cisco seller compensation to better serve customers and drive greater alignment in Cisco's joint go-to-market with partners.
Accelerating Partner Managed Services
Building on the recently introduced Cisco Powered Managed Firewall, Intelligent Workspace and Private 5G, Cisco also announced today that it has integrated Cisco Lifecycle Advantage (LCA) into Cisco PX Cloud, streamlining the number of tools partners need to have a comprehensive view of their customer lifecycle data. Through this integration, partners will be able to access Success Tracks data to accelerate customer success and time-to-value with co-branded digital customer engagement.
More Solution Specializations
Cisco plans to launch two new Internet of Things (IOT) Solution Specializations in the first half of 2024. Between them, there is continued focus on the ruggedized industrial IOT segments and expanded recognition for partners working in non-industrial IOT spaces. This allows greater differentiation of IOT partner expertise, making it easier for customers to find the right fit for their business needs.
More Predictive Insights for Partners
* Based on a Cisco market model conducted with a leading research firm (August 2023).
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco.
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SOURCE Cisco Systems, Inc.
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