Purchasing Power Recognized For Innovation in Customer Service

ATLANTA, Feb. 24, 2014 /PRNewswire/ -- Purchasing Power, a specialty e-retailer offering American workers the opportunity to purchase consumer products and services through an industry-leading voluntary benefit, today announced they are a Silver Stevie® Award winner for Innovation in Customer Service - All Other Industries.

"This is our first year receiving a Stevie Award, and we are honored to be recognized alongside such distinguished companies," said Richard Carrano, President and CEO, Purchasing Power.  "We have a focused effort on continuous improvements to our program and look forward to rolling out more new innovations that meet and exceed our customers' expectations."

Purchasing Power pioneered the concept of the employee purchase program offered as an employee benefit. As the first specialty e-retailer in the voluntary benefits market, Purchasing Power is committed to "Powering People to a Better Life™" by enabling customers to purchase large ticket items such as computers and tablets, televisions, electronics, household appliances, furniture, educational services and vacations without paying upfront through cash or credit. While customers enjoy the convenience of paying for their products through payroll deduction over 12 months, they expect ease of purchase similar to a regular e-retailer. However, because of its unique business model, Purchasing Power requires additional information and paperwork before an order is processed and shipped, which had been frustrating customers and delaying optimal order processing.  

Purchasing Power identified this frustration and started the process of simplifying the order process by coordinating with established clients and identifying new partners whose collaborative solutions would reduce the number of customer steps required to complete an order. Because everyone believed in the positive financial opportunities Purchasing Power provides to the $15-$35 per hour employee, all stakeholders worked collectively to break through long-established business methods to solve customer frustration with the multi-step order process. The aim was to improve the equivalent of a filling out and submitting complex forms to just the click of a few buttons in a secure, online approval process. A proprietary solution introduced in the fourth quarter of 2012 transformed what was once a laborious online and offline nine-step process to become a simple, online three-step process that could be clearly communicated to customers as they completed their online transaction.

"This award is recognition of one small improvement that took a coordinated effort and reaped invaluable results," said Mr. Carrano. "But it is this customer-focused mindset that drives all the improvements across our business and helps us maintain our leadership position in our industry."

Many of Purchasing Power's customers quickly embraced the redesigned, and more effortless, order process. Satisfaction levels for the statement "Placing my order was Easy" rose to 99%. Day-of order completion jumped from 15 percent to 70 percent, and on average, customers completed orders five days faster than before. Survey verbatims included: "I appreciate the ease of the new paperwork system," and "I have used Purchasing Power several times before and it just seems as if it gets easier and easier to place my order which is great!" Improving the satisfaction of our customers' first ordering experience has also contributed to Purchasing Power's repeat buyer rate climb to 70 percent, substantially higher than the average repeat customer rate across web retail categories at 27 percent, according to Shop.org, an association of U.S. retailers who sell online. 

About The Stevie Awards 
Stevie Awards are conferred in five programs: the Asia-Pacific Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service.  A sixth program, the German Stevie Awards, will debut later this year.  Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide.  Learn more about The Stevie Awards at www.StevieAwards.com

About Purchasing Power, LLC 
Headquartered in Atlanta, Purchasing Power is available to six million people through large companies – including Fortune 100s – and government agencies. Purchasing Power is one of the fastest-growing specialty e-retailers in the market offering a leading voluntary benefit program. Honored for "World Class Service" by Smart Business, Purchasing Power was also recognized as one of the fastest-growing companies, ranking as one of "Atlanta's Best and Brightest Companies to Work For" earlier this year. Purchasing Power is 'Powering People to a Better Life™' through its employee purchase program, financial literacy efforts and charitable contributions. Purchasing Power is a Rockbridge Growth Equity, LLC Company. For more information, visit www.PurchasingPower.com.

Media Contact:
Diana Mulhall
Purchasing Power
404-609-5030
[email protected]

SOURCE Purchasing Power

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