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PAUL WEISSMAN, CA
PRESIDENT, VENNGO
COMPANY PROFILE: Toronto-based Venngo negotiates exclusive deals and discounts on everything from consumer electronics to auto insurance for organizations looking to provide extra perks to their staff or members. As Canada's leading provider of outsourced loyalty programs, Venngo creates custom packages for some of the country's largest companies and associations, including Microsoft Canada, Ernst & Young and the Canadian Pension & Benefits Institute, allowing members and employees to save hundreds or thousands of dollars on products and services annually. The 12-person firm also offers those same clients the opportunity to promote and sell their wares to more than on million Canadians who participate in their WorkPerks and MemberPerks programs.
HOT FACTOR: As firms freeze wages or reduce bonuses and other benefits, building strong employee incentive programs
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is more important than ever. It's also a model that's proving to be recession-proof; today, the private company offers hundreds of discount programs and expects to have more than 1,000 discount packages in place by the end of next year.
COOL PROJECTS: The company has developed an innovative web-based platform that serves both the business-tobusiness and business-to-consumer markets through a single network. Employees or members of Venngo's clients can access savings on items such as travel, cellphone plans or meals, while client businesses themselves can market special offers to a captive audience of consumers looking to save money. Venngo generates revenue through both licensing and advertising fees.
IN HIS OWN WORDS: "Executives and business owners are looking for cost-effective ways to provide more value to their employees and members, especially during these challenging economic times. Recently one of our largest clients let us know that WorkPerks has proved to be one of the best overall people initiatives they have deployed in years."
Steve Brearton
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