Thycotic Deal Registration FAQ s Q. Why should Partners register their opportunities/deals? A. Qualified sales deals should be registered with Thycotic for the purpose of obtaining assistance in closing the deal and accessing Thycotic resources for help with trials, demos, and support. Deal registration also allows Thycotic to more accurately align communication, pipeline, and forecasting information. For deals that require it, registration also allows us to quickly use a team approach, to close the deal in a more timely manner. Registering qualified deals also affords protection to the registering partner. Thycotic will ONLY engage with the approved/registering partner on the registered opportunity. When Thycotic contacts the potential end-customer with a Partner, Thycotic will not revisit the end-customer with any other Partner. Further, Thycotic will not pursue the end-customer as a direct sales opportunity. If a second partner is actively pursuing the same matter or opportunity, they will be provided standard assistance, pricing, and terms per their Reseller Contract. Special bid pricing, however, and primary support will be reserved for the approved/registering partner. Finally, deal registration may provide higher discounts to Thycotic Channel Partners. Q. What is the Deal Registration Discount? Is it worth the effort? A. Closing an approved, registered deal will give you an addition 20-30% in available discount from list price. You ll be able to factor that into your customer proposals, or just your internal profit plans. We would hope that getting 30-40% discount compared to 10% gives you the motivation, on top of the rest of the program benefits, to register your deals and work with us! Q. How do Thycotic Channel Partners register deals? A. The Thycotic Deal Registration form is available on both the Thycotic website and on the Thycotic Partner Portal, for all Thycotic Channel Partners and partner prospects to access. The form is currently located at http://thycotic.com/partners/thycotic-rewards/ All details of the opportunity must be entered and submitted on the online form. Qualified deal registrations must not be already known by Thycotic Sales. Any Deal Registrations via email or phone will not be recognized. Thycotic recognizes Deal Registration on a per opportunity basis; not for an entire Partner or end-customer Account or for an extended period. Thycotic will verify the opportunity with the end-customer, before confirming the approval or denial of the Deal Registration within 1 business day. Only one (1) Thycotic Channel Partner will receive approval for a registered opportunity.
Q. Can Non-Thycotic partners register deals? If so, How? A. Yes, Thycotic encourages any reseller that is not currently a Thycotic Channel Partner to sell Thycotic products. In fact, working through an opportunity with us can show you just how collaborative and exceptional both Thycotic and our solutions are! The Thycotic Deal Registration form is available to non-thycotic partners (http://thycotic.com/partners/thycotic-rewards/) although a version on the Thycotic Partner Portal may be simpler to use, if you already have access. The deal will be subject to all standard Thycotic Channel Partners approval processes. To receive both Thycotic Rewards and maximize discounts, a reseller will need to register the deal online and have a signed Thycotic Channel Partner Agreement before the opportunity closes. Q. Can I register a deal that I received from Thycotic? And can I receive Thycotic Rewards, since I m now driving the sales cycle, arranging the demo and closing the opportunity? A. Deals that have been passed to the Channel Partner by Thycotic do not need to be registered as ownership is already monitored in our CRM system, but Thycotic Rewards may still be made if the Channel Partner is driving the sales cycle, if the actions performed are incented. If only registration is incented, it will not be payable, since the deal came from Thycotic. Q. Are there any other ways for Partners to Register Deals? A. Yes, all Thycotic Partners can participate in marketing activities that generate leads. Any lead received by Thycotic through such marketing or co-marketing will automatically identify the specific Thycotic Channel Partner that encouraged the customer to try Thycotic. Thycotic Rewards are payable if the Partner is driving the incented behavior. Protection for the Partner will be granted from the time the lead is created in Thycotic s systems. Registration incentives will only be payable when the deal is fully registered by the Thycotic Channel Partner on the Thycotic Deal Registration online form. Thycotic reserves the right to restrict the Thycotic Rewards in limited circumstances related to marketing activities, such as when Thycotic has funded the original comarketing activity, or provided significant resources. Protection is still available only incentive payments may be restricted. To ensure you ll receive both protection and payment, make sure you let us know what demand generation and business development activities you are working on. Q. I have no idea how large the opportunity is going to be? What if my opportunity is smaller than the $5K threshold? A. Go ahead and register the deal! Thycotic Sales will be happy to work through qualifying and getting the right proposal out to the customer with you. Thycotic Rewards may be tied to fulfilling the size requirement, but a registration will not be declined because it initially looks, or later becomes, an opportunity below the $5K threshold. Registered deals are still eligible for additional Deal Registration Discounts, whether or not they earn the Deal Registration Incentive.
Q. What kind of opportunities should be registered? Just license or the initial sale? What about Support contracts or renewals? A. Any opportunity can be registered, but incentives and discounts only apply to certain sales. All license sales to new customers, or new departments, should be registered (new and upsell licenses). In addition, if you feel an opportunity may become competitive, go ahead and register it that will help us provide you with all the assistance that we can and maximize your discount. If another partner is actively involved, we will let you know and assist appropriately. Currently, Support contracts or renewals do not qualify for Thycotic Rewards payments (Support, maintenance, renewals), but they can still be registered. Remember, registering is about deal protection and communication, as well as higher discounts and Thycotic Rewards. Q. What kind of opportunities will be approved? A. Go ahead and register the deal so that we can assist, but in general: Opportunity Description Deal Registration Approval Thycotic Rewards Payout New Thycotic product: Existing customer Yes Yes New Thycotic product: Existing customer of another Thycotic Reseller Possibly Yes New Thycotic product: Existing customer of Thycotic Possibly Yes Additional licenses: Existing product, existing customer, existing department Unlikely Yes Additional licenses: Existing product, existing customer, new unit/department Yes Yes License renewals: Existing customer Yes No License renewals: Existing customer of another Thycotic Reseller Possibly No License renewals: Existing customer of Thycotic Possibly No Q. How does Thycotic qualify my registered deals? A. Once a Deal Registration is registered, Thycotic expects the Reseller to provide specific account information that will fully qualify the opportunity as a valid sales deal. This information may be verified with the end-customer directly Thycotic Sales reserves the right to contact the end-customer prospect, as necessary. Any and all communication will respect the Reseller s relationship with the end-customer. Q. I know Thycotic has been active in my Account, but I have a new opportunity can I register that? Will you take over, or work directly with the Account? A. Thycotic Sales may be engaged in an Account prior to a Partner Deal Registration. Unless we are already active on that particular Opportunity, not just active on the Account, Thycotic will not take over the Opportunity, or take the Opportunity Direct. In these cases, Thycotic will inform the Partner, but Thycotic reserves the right to maintain direct end-customer contact while keeping the Partner informed. Thycotic Rewards Payments may still be made if the Channel Partner is driving the sales cycle at incented stages.
Q. I registered a valid opportunity: why did Sales deny it and say I cannot receive a payment? A. Thycotic will consider every registration on the merits of the opportunity. It is possible that the opportunity is already registered and approved for another Channel Partner, or Thycotic is working it directly. If that is the case, we will let you know right away it may change how you handle the rest of the sales cycle. Standard discounts and assistance are still available to you, in support of the opportunity but we cannot provide Deal Registration Discounts, Thycotic Rewards payments or special pricing. Q. I registered and had a Deal Registration approved. Another Reseller undercut my price and sold the same product. How is Thycotic going to compensate me for the lost opportunity? A. Thycotic commits to not provide favorable terms to Resellers that are selling against a registered, approved Deal Registration. That means, the Reseller will not receive Deal Registration Discounts or special bid pricing, regardless of any previous relationship with the end-customer or the size of the opportunity. Thycotic also offers Margin Protection within the Thycotic Deal Registration Program. Any reseller that loses a registered and approved opportunity to another registered Thycotic Channel Partner, or even to Thycotic, will be reimbursed a portion of the value of the sale, based on the current discounts and Partner Program offering. That means an Authorized Partner may receive up to 20% of the List Price of the sold Products, and a Certified Partner may receive up to 30%. We will always endeavor to not have this situation occur, and coach all the Resellers involved appropriately, keeping the end-customer s needs at the forefront. Remember too, that neither Thycotic nor our Distributors can control how a Reseller chooses to price an opportunity. Q. When will incentive payments be made? A. After a Deal Registration is Approved, payment will generally be made within 45 days. All earned payments are combined and made on a monthly basis. Payments may be withheld until the size of an opportunity is fully validated. Any non-payment will be communicated. Q. Who can receive payments? A. Individuals at registered Thycotic Channel Partners can receive payments, subject to regional or company restrictions. (See the next 2 questions) Q. My company does not allow individuals to receive payments by anyone other than their employer. Can we still participate in the Deal Registration and Thycotic Rewards programs? A. Thycotic absolutely respects this position. We would be happy to aggregate Thycotic Rewards incentives for all individuals at a company and then pay the company centrally. We would also be happy to consider funding a specific co-marketing activity. Contact your regional sales team, the Director of the Thycotic Partner Program or Partner@Thycotic.com to let us know, so we can adjust your accounts.
Q. My company is outside the US can we still participate in the Deal Registration and Thycotic Rewards programs? A. Absolutely. Outside the US, we may aggregate Thycotic Rewards incentives for all individuals at a company and pay the company centrally. We would also be happy to consider funding a specific co-marketing activity. Payments can be made electronically. To make other arrangements, contact your regional sales team, the Director of the Thycotic Partner Program or Partner@Thycotic.com to let us know, so we can adjust your accounts. Q. The Deal Registration Program Terms state that the program is open to all Registered Thycotic Channel Partners what does that mean? A. Whether you have yet to sign a contract with us or you ve been a Thycotic Channel Partner for many years, we want to ensure your sales opportunities are protected, that we work with you to close the business and that you have a chance to maximize the profit and margin for every opportunity. To close a sale, you will need to have a way to purchase Thycotic Products either directly from us or through a Thycotic Distributor. So long as you have registered online to become a Thycotic Channel Partner, using the online application or another similar contractual process through the Sales team, you are considered a Registered Thycotic Partner the level or tier of the program you choose to participate in, what kind of contract you sign, or even how you choose to procure your licenses is not relevant. Q. I sold an opportunity last year and now have an opportunity to sell into the same department again do I need to re-register the deal? A. Yes, deal registration protection only applies for 90 days, or potentially longer if Thycotic Sales approves an extension. If you have a new opportunity, that needs to be registered. If another partner registers that opportunity first, we will have to accept and approve their registration, even if you have history with the Account. Confidentiality All account discussions between Thycotic Sales and the Thycotic Reseller are considered confidential and will not be discussed with any other Channel Partner or Partner prospect. No competitive information that Thycotic has gained via another Partner will be communicated. To learn more about how you can take advantage of our Channel Partner program, please contact Thycotic by emailing us at Partner@Thycotic.com or visit our website at www.thycotic.com/partner.