According to a recent press release in MarketWatch.com, Parago announced the launch of a new reward program that offers large organizations a central portal specifically designed for ordering loading, activating, and even customizing Visa prepaid cards geared toward employee incentives and rewards.
Employee incentive programs are quickly being adopted throughout all business arenas, as their benefits are continually being proven. But, one of the challenges companies face with offering these programs is the incentives purchasing and procurement process. A number of factors need to be addressed to provide an effective process, including the coordination of approved vendors and contracts, legal review, internal brand, and pricing variations.
Parago, a provider of rewards-based incentive solutions delivering over 10 million prepaid cards yearly, along with $2.5 billion in yearly awards, developed an innovative product to address these challenges, PROP (Parago Reward Ordering Portal), which simplifies the entire reward ordering process, creating a streamlined and centralized self-service portal.
Labeled a “one-stop online destination,” the PROP customizable portal simplifies the prepaid incentive procurement procedure with convenient and complete end-user self-service, while at the same time affords significant user control. Companies are afforded the ease of selecting and loading a wide variety of custom or stock cards, shipping activated cards directly to end-user, customizing a number of card features, including language and guarantee, and retrieval of comprehensive reporting and auditing. All this and more is accomplished through “one hierarchical, managed environment.”
The streamlined portal will allow users, both customers and consumers, to manage budgets, tailor rewards, place orders, as well as design and track redemption, all in a quicker and easier to monitor format.
In the press release, Parago CEO and president Juli Spottiswood said, “We developed PROP to solve a request that we heard time and time again: our clients need a centralized repository to order and re-order Visa prepaid cards.” She added that the size of the runs do not matter, whether large numbers for consumer incentive programs, or short runs for employee recognition, “PROP enables all departments within an enterprise to procure prepaid incentives through a few quick clicks.”
The launch of PROP, according to Spottiswood, is in sync with holiday rewards. Companies seeking ways to deliver their season rewards will find PROP the perfect solution. Spottiswood went on to say, “Clients can provide a solution that lets managers and brand owners deliver unique rewards to their audience, whether it be employee, customer or client, easily and in a standardized process.”
Employee morale and workplace productivity were the focus of a study conducted by Staples. The findings demonstrate that 85 percent of employee respondents cited they felt more valued by employers that provided a form of incentive or reward program. Additional findings showed that 70 percent of the respondents were motivated more by reward programs, and 40 percent chose an incentive program over yearly holiday events.