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VIPGift Changes Name to Incentium
October 28, 2009
By Donna M. Airoldi
VIPGift has changed its name to Incentium in order to recognize its growth from an incentive-fulfillment business to one that provides a full spectrum of services, including employee, customer, and sales channel incentive and loyalty programs. The change comes one year after Summit Partners and Bridgescale Partners, two Silicon Valley–based private equity firms, recapitalized the Chattanooga, Tenn.– based company.
“The rebranding of [VIPGift] to Incentium symbolizes the expansion of our solutions and capabilities,” said Richard Char, Incentium CEO and president, in a statement. “Recently, we introduced a number of new products and new technologies … building on insights gained from years of deep client relationships, the company’s broad range of prepaid reward choices, and world-class fulfillment and customer services capabilities. During the same time, we have added a number of key personnel in technology, project management, sales and marketing.”
Incentium also recently released upgraded versions of its incentive software solutions, including:
•CAST (Customer Acquisition Sales Tool) 2.0, which assists sales representatives in “closing the deal” with customers who are on the fence while allowing managers to dynamically adjust incentive terms and rules.
•EARN (Employee Appreciation Recognition and Nomination) 2.0, a reward management application with specific features for recognizing, rewarding, and retaining employees, contractors, and vendors for a variety of objectives.
•CLAIM (Customer Loyalty Appreciation and Incentive Management) 2.0, a loyalty management application that allows companies to configure reward levels for customers based on a variety of factors including spend, usage, product type, geography and other relevant company segments.
•LEAP (Loyalty Engagement Award Platform) 2.0, a points-based application that increases employee productivity by directing behavior through providing targeted rewards.
•SCORE (Sales Channel Optimization Rewards Engine) 2.0, a points-based application that tracks, manages, reports, and issues incentives to drive direct sales and partner channel performance.
According to the release, Incentium sales volume has increased by more than 48 percent during the first half of 2009, compared to 2008 figures, with the company adding 15 new Fortune 1000 customers to its existing client base.
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