Business Relationship Management (BRM) is a formal approach to understanding, defining, and supporting inter-business activities related to business networking.
Business Relationship Management consists of knowledge, skills, and behaviors (or competencies) that foster a productive relationship between a service organization (e.g. Human Resources, Information Technology, a finance department, or an external provider) and their business partners.
BRM is distinct from Enterprise Relationship Management and Customer Relationship Management although it is related. It is of larger scope than a liaison who aligns business interests with IT deliverables.
Strategic business partners require a common methodology to drive true business innovation and strategy. These strategic business partners (IT, Finance, HR, external providers, etc.) are converging with the business. There is one shared business strategy with each business partner accountable for portions of the overall business value achieved.