To understand the role of a Business Relationship Manager (BRM), we first need to explore what Business Relationship Management (BRM) entails. BRM is not merely a role or a set of skills; it is a comprehensive philosophy that seeks to create meaningful and impactful partnerships between a business and its clients, stakeholders, and functional partners. Unlike transactional relationships focused solely on the exchange of goods or services, BRM emphasizes the development of deep, value-driven partnerships.
The Business Relationship Management Institute defines BRM as “a philosophy, capability, discipline, and role to evolve culture, build partnerships, drive value, and satisfy purpose.” This philosophy is based on the belief that positive, meaningful relationships are essential for creating value within organizations and maximizing their impact on economic value, people, and the planet.
It’s important to recognise that organisations are networks of relationships; these interconnected relationships form the backbone of organisational functions, working in harmony to strengthen the overall vitality and performance of a business. An effective BRM capability ensures these relationships are not only maintained but also aligned with tangible results, driving the organisation forward to achieve excellence and impact.
What Does a Business Relationship Manager Do?
A Business Relationship Manager (BRM) is responsible for building and managing relationships on behalf of a functional area or business unit and its internal or external stakeholders. The role of a BRM is strategic, acting as a bridge between departments, understanding business needs, and ensuring that solutions align with the organization’s strategic goals and objectives. A BRM is like a neutral supporter in a soccer match, supporting both teams equally to ensure mutual success.
The primary goal of a Business Relationship Manager is to align business objectives with the services provided by an organization, optimizing value from those services. By doing this, they can break down the silos separating business units from their support functions, fostering a culture of innovation, creativity, value, and collaboration that reflects the organizational strategy.
Key Responsibilities of a Business Relationship Manager
A Business Relationship Manager plays a critical role in connecting relationships to results within an organization. Their core responsibilities include:
- Understanding Business Objectives: BRMs need a deep understanding of the business. They collaborate with business leaders to understand their goals, challenges, and strategies.
- Communication: BRMs act as strategic partners between business units, facilitating clear communication. They ensure that business needs are effectively communicated and that solutions are understood and accepted by the business. They translate business language into client-friendly dialogues and vice versa, ensuring clarity and understanding.
- Nurturing and Building Relationships: Establishing and maintaining strong, trust-based relationships is a key role of a BRM. This requires consistent engagement, understanding partner perspectives, and proactively addressing their concerns.
- Value Management: BRMs support the value management process by identifying opportunities and shaping demand for the provider’s services and products to increase organizational value. They also ensure the optimization of the provider’s existing resources to achieve strategic results.
- Strategic Alignment: BRMs are instrumental in shaping business strategies. They provide insights into how technology, for example, can support and drive business initiatives, helping to align the two.
Overall, the role of a Business Relationship Manager is to serve as the strategic interface between business units or between a business unit and an external stakeholder. They ensure that the provider’s resources are utilized efficiently to meet business needs and deliver value.
Daily Tasks of a Business Relationship Manager
A BRM’s daily tasks can vary but typically involve a significant amount of time spent in meetings. These meetings range from individual discussions with key stakeholders to team or departmental meetings to ensure strategic alignment between the business and its functional partners. Regular and meaningful interaction is essential for building and nurturing partnerships.
Using metrics and feedback tools, BRMs assess the health and effectiveness of each relationship, identifying areas for improvement and celebrating successes. Staying up-to-date with business and IT trends is crucial for BRMs. Continuous learning allows them to anticipate how emerging technologies can drive business value and offer a competitive advantage.
Identifying potential risks and proactively addressing them is another critical aspect of a BRM’s role. They work towards mitigating risks associated with new initiatives or partnerships and are often involved in problem-solving and conflict resolution.
Skills Required for a Business Relationship Manager
A Business Relationship Manager’s job description typically includes several key skills essential for the role:
- Effective Communication: BRMs must communicate effectively with both technical and non-technical stakeholders. They need to explain complex technical concepts in simple business terms and actively listen to stakeholders’ concerns and needs, communicating back an understanding of business needs, value, and direction.
- Empathy: The ability to listen and empathize is crucial. Understanding issues from another person’s perspective helps in finding the right solution.
- Influential Relationship Building: BRMs need to work well with others, forming and leading cross-functional teams effectively.
- Strategic Thinking: BRMs must understand the strategic objectives of the business and align today’s decisions with long-term goals.
- Problem-Solving: Addressing challenges creatively and effectively is key. BRMs need to think outside the box and come up with solutions that satisfy all parties involved.
- Emotional Intelligence: Being aware of and understanding one’s own emotions helps in navigating interpersonal interactions and relationships effectively.
What a Business Relationship Manager Does Not Do
A Business Relationship Manager collaborates with many business functions but does not typically take on specific tasks and responsibilities, such as:
- Project Manager: A BRM can be part of a project team but should not have overall responsibility for project delivery, which is the role of a project manager.
- Change Manager: While a BRM’s work often results in organizational change, a Change Manager is responsible for managing the delivery and impact of an organizational change program.
- Business Analyst: A BRM should have a solid understanding of the organization but is not responsible for eliciting and managing requirements, which is the role of a business analyst.
How to Become a Business Relationship Manager
The journey to becoming a BRM involves several steps, each contributing to the development of the necessary skills and knowledge:
- Educational Foundation: Typically, a degree in business, marketing, management, or a related field lays the groundwork for a career in BRM.
- Join the BRM Institute: Becoming a member of the Business Relationship Management Institute provides access to resources, best practices, standards, research, and a professional community.
- Gaining Practical Experience: Experience in customer service, sales, account management, program or project management, business analysis, or other project-related professions is invaluable.
- Developing Key Skills: Outside of formal education, developing skills like communication, negotiation, conflict management, and strategic planning is crucial.
- Certification and Continuous Learning: Pursuing professional certifications in BRM or related fields can enhance credibility and expertise. Continuous learning through seminars, webinars, and industry events keeps BRMs updated on the latest trends and practices.
- Networking and Industry Engagement: Building a professional network by connecting with industry peers, joining professional associations, and engaging in community events can provide valuable insights, opportunities, and mentorship.
Challenges in Business Relationship Management
BRMs often face various challenges, such as navigating complex organizational structures, changing business priorities, lack of resources, resistance to change, communication barriers, and cultural differences. Overcoming these challenges requires strong interpersonal skills, adaptability, resilience, and empathy.
Conclusion
Business Relationship Management is a dynamic and essential aspect of modern business. The role of a Business Relationship Manager is both challenging and rewarding, requiring a blend of strategic thinking, empathetic communication, and a deep understanding of business and client needs. As the business world continues to evolve, the importance of effective Business Relationship Management will only increase, making it a vital component of any successful organization. Those aspiring to become BRMs should focus on developing the necessary skills and gaining relevant experience and qualifications to excel in this role.
