Disruptive, no-waste business model and digital rewards platform helps organizations eliminate unclaimed rewards, gifts, and incentive losses
TruCentive, the all-in-one incentives and reward delivery platform, announced it has surpassed a company milestone by helping its customers save over one million dollars in undelivered or unused gifts. TruCentive saves customers thousands of dollars for their programs. This milestone is part of the company’s vision to modernize legacy rewards and incentive programs by enabling companies to easily provide digital rewards, follow up on their delivery, and send reminders for reward redemption through its platform.
“We are in business to help our customers attain better results across the board. One of the ways we measure our success is by how much money we save our customers. This milestone achievement is a testament to our commitment to our customers, and it’s just the beginning. We are dedicated to providing a better experience for the sender and recipient and can boast of higher claim rates,” said Lori Laub, CEO and co-founder of TruCentive. “By charging a small fee, we provide full transparency on all deliveries and provide automated reminders to improve claim rates by 13.24% while saving organizations 28% on average.”
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Eliminating Waste with a Modern Digital Rewards Platform
Many organizations offer digital rewards for behavior, including performance or incentives for an action. According to a 2022 report by Credit Summit, “…there is as much as $21 billion of unspent money tied up in unused and lost gift cards.”
“For enterprise customers, this breakage, [a term ‘used to describe revenue gained by retailers through unredeemed gift cards or other prepaid services that are never claimed,’] is bad for business,” said Laub. “Padding the pockets of retailers comes at a cost to enterprise gift-givers. This model establishes a bad relationship. We are focused on providing backend support to assist ‘givers’ from start to finish when a recipient redeems the gift.”
The TruCentive platform helps customers like Dell, Microsoft, and T-Mobile create bespoke rewards and curated sets. In addition to offering thousands of national and international gift cards, the company partners with Square to provide access to 85,000 local and national retailers. The company also has partnerships to source physical merchandise and payment options for their clients. With TruCentive, everything is configurable/customizable on the company’s site.
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“We are disrupting the dinosaurs’ business model. While they keep the value of unclaimed gifts for themselves, we charge a small delivery fee and automatically give the sender back the value of unclaimed incentives. We also help senders achieve better results with regard to claim rates, presentation, and the overall user experience,” added Laub.
“With TruCentive, we saved over $38,000 on our 75th Anniversary customer appreciation project,” said Alison O’Shea, marketing manager, Mattioni Inc. “Those funds would have gone to waste by using our previous vendor. We look forward to a long relationship.”