Incentive Publications PM40801507 - Manual (Page 8)

INDUSTRY NEWS
CANADIAN
IN
CENT
IVE
MAGAZINE
BUYERS’
GUIDE
8
Citi Acquires Ecount, Inc.
CITI MARKETS AND BANKING ANNOUNCED THAT IT HAS ACQUIRED
Ecount, Inc., the leading provider of corporate prepaid card solutions, based
in Conshohocken, Pennsylvania. Ecount’s products will be integrated into
Citi’s global transaction services business, strengthening the firm’s cash man-
agement platform for corporations, financial institutions and governments.
Ecount has provided customized prepaid card solutions for corporations
looking for simple and convenient ways to deliver payments, including com-
pensation and promotions. Established in 1997, the company serves a base
of more than 1,200 corporate clients across North America. Ecount’s paper-
less payment solutions allow corporations to reduce costs, strengthen brand
awareness and increase efficiencies.
This acquisition strengthens Citi’s leading position in global payments in
the U.S., and it enables the launch of similar prepaid card solutions world-
wide. The prepaid card market is experiencing high growth and is currently
estimated at more than $2 trillion worldwide, as corporations and consumers
continue to move from paper cheques to electronic-based payment methods.
Volume 3 • Number 1
Annual Buyers’ Guide 2007
PUBLISHER AND EDITORIAL DIRECTOR
Jamie Parcells
CREATIVE DIRECTOR
Stan Michalak
SALES MANAGER
Steve London
CONTRIBUTING WRITERS
Laura Byrne Paquet, Jodi Ferguson,
Judy Owen, Ian Tizzard
CANADIAN PUBLICATIONS MAIL PRODUCT
SALES AGREEMENT 40801507
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Printed in Canada
2007
Incentive Technology Council’s New
Name Reflects Expanded Mission
AFTER ACCOMPLISHING ITS INITIAL OBJECTIVES, THE ONLINE INCENTIVE
Council, a strategic industry group of the Incentive Marketing Association (IMA),
has embraced an expanded mission and changed its name to the Incentive
Technology Council.
Founded in 2002, the council originally organized to promote the use of
online incentive and recognition programs through research, education and
information. In five years, the corporate community has embraced online pro-
grams as strategic tools to communicate, deliver and track performance
improvement solutions. In 2005, 25 per cent of respondents to the Incentive
Federation’s Study Conducted Among Current Users of Merchandise and Travel
items for Motivation/Incentive Applications indicated they ran programs online,
compared to less than 15 per cent in 2003.
With use of online incentive programs steadily increasing, council president
Paula Godar CPIM, Maritz, commented, “We are ready to broaden the coun-
cil’s objectives. Our name change to the Incentive Technology Council (ITC)
reflects our expanded mission to define and promote online incentive program
best practices. We can be instrumental in helping organizations apply well-
designed incentive programs and cutting-edge technology to maximize their
incentive and motivational program success.”
To this point, a recent study conducted by Wichita State University
researcher Dr. Victoria Shaffer, PhD, on behalf of the council, found that few
companies that utilize online incentive programs incorporate an ROI/Results
analysis, though close to 40 per cent of respondents thought this analysis
would be useful. Incentive Technology Council members can assist their
clients incorporate clear and measurable program objectives to track and
measure program results.