Eligibility verification provider SheerID launched its Employee Verification Solution, aimed at helping businesses streamline employee purchase programs and corporate channel partnerships.
The platform instantly verifies employees against authoritative data using the name, address and company name, and can verify 65 million employees from more than 44,000 employers, including the federal government and 75 percent of Fortune 500 companies.
"Brands don’t often realize they’re losing potential profit by providing a poor customer experience to employees, as well as by leaving these channels vulnerable to discount abuse when employees share discounts outside of the organization," SheerID CEO Jake Weatherly told eWEEK. "Employee verification addresses these issues by allowing businesses to secure these channels, ensuring that only employees can purchase products at the corporate rate. By doing so, these channels can be brought outside of internal intranets, making them easier to access and easier to buy from."
SheerID’s employee eligibility verification removes the portal or intranet link from the equation by instantly verifying employee’s eligibility during the checkout process.
The platform allows employees to shop directly with the brands that offer corporate pricing, either online or in-person, and still receive corporate discounts.
In addition, SheerID’s employee eligibility verification requires minimal information from employees, and never asks for extremely sensitive information such as a Social Security number, according to the company.
"In an effort to gate corporate pricing and prevent fraud, most businesses currently rely on reward portals or their internal intranet to distribute corporate perks to eligible employees," Weatherly explained. "With both of these systems, special offers can’t be accessed without a login or by clicking on a hidden link, which complicates the purchasing experience for employees and lowers conversion rates for corporate partners."
He noted additionally, corporate partners’ offers on reward portals often are displayed right next to deals from their competitors.
Through Employee Verification, businesses can limit the number of transactions permitted through internal employee discount programs; support "friends & family" events; document, track and analyze eligibility metrics; and create new employee incentive programs or employee recognition programs.
The platform also allows employee partner groups to shop directly instead of using portals, and can help reduce fraud associated with in-house solutions.
"We’re continuing to see across industries that customer experience is directly correlated to revenue. A poor customer experience results in a weak revenue stream, while a fantastic customer experience that is consistent across channels typically ends up resulting in increased revenue,” Weatherly said. "As these channels not only provide perks to employees but also an internal revenue source for businesses, investing in technology like employee verification to simplify and improve the customer experience can make a huge difference to the bottom line."