Confrapar and Lorinvest led a US$7m investment in Rio de Janeiro-based Fielo, a Salesforce-native CRM platform for incentive/loyalty programs, to expand its presence to Brazil and the US.
(Press Release) Fielo, the pioneer of loyalty and incentives automation, today shared its vision for the next wave of customer relationship management (CRM) and partner relationship management (PRM), where digital transformation is applied to loyalty and incentives programs. It is time to usher in a new era of digital transformation for B2C, B2B, and B2E loyalty and incentives programs by applying new technology innovations and putting to rest the “old slow and expensive way” of doing things, according to Fielo founder and CEO Sanjay Agarwal. The company also announced today it is expanding in both Brazil and the US and has received over $7MN US in new funding from Lorinvest and Confrapar.
What’s shaping the next wave of CRM and the role of loyalty and incentive automation
With all the technological innovations around us – autonomous vehicles, robotics, AI – it’s time to update how we engage with the most important assets to any business: the customers, employees, and channel partners. According to industry analysts, loyalty and incentives should be a top-three strategic imperative for CEOs.
Many companies are still going the DIY route, bolting on expensive agency-built incentives programs, while others are running programs for channel engagement on spreadsheets. What’s even more disheartening is that the majority of loyalty and incentives programs fail even though a well-run program can lift company revenues.
“The failure to innovate in loyalty and incentives means that more than 90 percent of organizations are unhappy with their programs. Our mission is to modernize incentives and loyalty programs with our powerful Salesforce-native automation platform that is simple to set up and easy to manage. If your data is in Salesforce, you can point-and-click to create your program and incentivize any process in your CRM or PRM. Think of us as the iPhone of loyalty programs – simple to use but powerful,” says Agarwal.
With Fielo, companies can define their loyalty and incentive program the way they want. They can be tailored to include any combination of program participant activities and performance thresholds can be defined for how channel, customers, or employees earn points, rewards, badges, discounts, or cash. Fielo eliminates the need for spreadsheets or expensive, inflexible agencies. New programs can be up and running in hours or days rather than weeks or months.
Since its founding in 2012, Fielo has helped companies like Country Road Group, Syngenta, Schneider Electric, Pantero, and Terpel better manage and engage their consumers, channels, and employees. Fielo has been named a top 20 Salesforce ISV partner.
Fielo today also announced the new Fielo Employee Incentives addition to its Loyalty and Incentives Clouds. More information on the new product can be found here.
To learn more about the Fielo Loyalty and Incentives Clouds, visit booth #1138 at Dreamforce 2019.