Performance Systems Group (PSG), an award-winning incentive and reward program systems provider, announced that it has licensed RewardTrax, its online, point-based incentive program platform, to Loyaltyworks, a leading provider of turnkey incentive program solutions for customer loyalty, sales force motivation and employee recognition. Under the terms of the agreement, Loyaltyworks will migrate its national client base to the innovative, Web-based RewardTrax solution. The move significantly increases the number of reward choices offered in the programs Loyaltyworks manages and reduces administrative overhead, overcoming limitations Loyaltyworks found with its previous traditional warehouse fulfillment model.
"We compared RewardTrax to our legacy technology and reward fulfillment model and found it to be far more comprehensive and cost-effective," says Rob Miklas, Loyaltyworks' president and chief executive officer. "RewardTrax not only offers an unparalleled participant shopping experience, but the extensive administrative and communication tools, along with in-house programming support, offer dramatically improved features and benefits for our clients. We've already begun transitioning Loyaltyworks' 140 accounts from our legacy platform. The process has been completely transparent to our clients, who are universally ecstatic with the value-add, especially the stratospheric jump from a few thousand reward choices to millions. Turnaround time has been cut by 80 percent, and the reporting and communication tools are easier, more robust and flexible. We're delighted by our client response to date."
Leveraging the powerful reach of the Internet, the RewardTrax point-based platform offers end-users access to the largest offering of rewards available - more than 15 million reward choices including travel packages, consumer electronics, live-event tickets, jewelry and more. A Web-based, "Software as a Service" (SaaS) technology, RewardTrax also delivers extensive administrative, support and educational tools that make program launch and management easy and time effective. Reward management and point accrual processes are built in, along with communication tools (such as blast email and content management capabilities) to make ongoing communication with program participants easy and effective. The solution also includes a robust reporting package that Loyaltyworks and clients use to measure and assess the performance of ongoing initiatives.
"RewardTrax continues to expand its partnerships, client base and sales channels," says Steve Damerow, CEO of Performance Systems Group. "Adding a leader such as Loyaltyworks to our existing stable of partners reinforces RewardTrax as the new industry standard in merchandise incentive platforms."
Since 2007, RewardTrax has been used to support the sales, marketing and performance improvement efforts of a diverse list of companies across industry sectors seeking an improvement over the high-priced and limited catalogue-based reward program. The proprietary, Internet-based solution enables companies to launch powerful, customized incentive/motivational programs - quickly, with minimal upfront expense. Featuring simple, "click-of-the-mouse" administration, points are awarded to participants, who then use them to shop for a virtually unlimited selection of items from the nation's largest Web retailers - electronics, travel packages, designer sportswear, outdoor gear and more. RewardTrax pricing gives participants significantly more buying power than traditional warehouse-fulfilled reward programs.
According to research published by the Incentive Research Foundation, studies indicate that people psychologically project a "higher than retail" perceived value onto desirable, non-cash rewards, making them a more cost-effective incentive. IRF sponsored research further discovered that, despite the fact that most people will state that cash is the reward they desire most, the tangible nature of non-cash rewards (if valued by the subject) generally triggers stronger and longer lasting emotional responses, making them potentially more effective at generating motivation. With these advantages, incentive programs that feature broad selections of non-cash rewards have become a preferred solution for companies seeking to motivate and influence employees, business partners and customers.
The RewardTrax platform is available though Performance Systems Group to partners via two business models: Total for organizations that want to resell and manage all aspects; or Plug In, for incentive houses wishing to add the RewardTrax rewards and shopping experience into their mix of incentive offerings.
The RewardTrax® incentive solution is Sarbanes-Oxley compliant for U.S-based programs, and offers all administrators high levels of communication and efficiency, including simple keystroke requirements to send email alerts and blast emails, along with real-time reporting of points issued and pending. Loyaltyworks registers a domain name and customizes the application to each client's corporate branding look and feel.
Loyaltyworks (Loyaltyworks.com) designs, develops and manages full-service loyalty and incentive programs that produce measurable business results. For 30+ years, they have helped companies drive revenue and profit by building employee and customer loyalty and encouraging desired behaviors with rewards. Typical cient solutions include channel sales promotion and loyalty, customer loyalty programs, sales incentive programs, and employee reward & recognition. Loyaltyworks brings especially deep experience to the creation of channel loyalty and contractor rewards programs. The company supports all of its points-based incentive programs with a comprehensive set of tools and services including program design, the RewardTrax® technology platform, participant communications, program management, reward fulfillment and performance measurement.
About Performance Systems Group
Located in Atlanta, Ga., Performance Systems Group (Performancesystemsgroup.com) is an award-winning incentive and reward program systems provider that specializes in the design, development and management of Web-based incentive technology solutions. PSG systems support a wide range of incentive-driven, performance improvement initiatives -- including group travel, stored value card and merchandise reward programs -- and they provide valuable information about clients, customers and products.