IRF Releases Industry Software Report
The Incentive Research Foundation announced the release of the "Incentive & Events Industry Software Report: 2020." This qualitative review of software platforms provides an overview of how technology is being selected, customized and integrated into rewards and recognition programs.
"The 'Incentive & Events Industry Software Report: 2020' details how technology is playing a critical role in the transformation of our industry," said Stephanie Harris, IRF president. "As incentive programs become more sophisticated, customers demand software that is easier to use, more feature-rich and flexible, capable of full integration and robust in its ability to produce analytical insights and personalization."
The IRF conducted 41 detailed interviews with incentive program design consultants, reward providers, technology vendors, industry experts and buyers of incentive and events software. The report can help incentives professionals gain a better understanding of the incentive and events software landscape and the right tools and provider types for their businesses. Key insights from the report include:
- Solutions are delivered almost exclusively via software as a service, and most pricing is on the SaaS per-user subscription model, resulting in lower systems fees and the ability to invest more in rewards.
- Clients prioritize ease of use and often demand extensive customization capabilities that in a SaaS-dominated environment, providers must make their tools more flexible and configurable.
- Program owners want solutions that fully integrate with other HR tools, as well as CRM and intranet platforms using API and single sign-on capabilities.
- Sophisticated data capture, analysis and insights are in high demand. Technology-first providers may evolve into analytics-first firms, especially as AI and predictive analytics are more widely used to offer deeper, more actionable and individualized insights.
- Responsive web design that enables mobile user interfaces, including dashboard access, points redemption and reports have become a standard capability.
For more information on the report, visit www.theirf.org.