Partnership disrupts legacy coupon clearing industry through fully transparent model amid growing shift from print to digital coupons
Quotient (NYSE: QUOT), the leading digital promotions, media and analytics company, announced today a partnership with Mandlik & Rhodes — a well-established and long-standing company that delivers strategic coupon processing solutions for manufacturers and retailers in the consumer packaged goods (CPG) industry. Through this partnership, Quotient offers CPG brands significant cost savings over legacy coupon clearing firms for the clearing of digital coupons without transition or laborious integration costs through the use of Mandlik & Rhodes’ coupon clearing service. Retailers will continue to be paid as they traditionally have for clearing services.
As digital couponing has grown, the legacy coupon clearing industry has failed to transform and take advantage of the efficiencies that technology brings to other industries — ultimately lowering the cost to serve. With this partnership, CPGs can immediately benefit from a lower cost to process digital coupons — freeing up more working dollars and increasing the ROI of their overall marketing spend. Additionally, they benefit from a fully transparent model for delivering coupon clearing services so that every cost is clear. As a result of this partnership, CPGs will be able to spend less on clearing fees today while saving even more as the shift from legacy offline print to digital coupons accelerates. And, they will be able to do so with the confidence that they won’t be nickel and dimed on hidden processing charges or ancillary fees.
CPGs will also no longer need to be concerned about fraud fees for digital coupons, since the risk of fraud is significantly reduced in a well-structured digital coupon environment. Quotient’s Retailer iQ digital coupon platform is designed with this in mind, with multiple checks and balances that maintain the integrity of Quotient’s platform. Zero instances of fraud have been reported using Retailer iQ.
"The COVID-19 pandemic has helped to accelerate the shift from paper to digital coupons. In fact, offline (paper) free-standing inserts, or FSIs, are expected to lose more than 20% of their coupon distribution from leading CPGs over the course of 2020 and 2021. But, coupon clearinghouses have done little to evolve. The traditional clearinghouses sit between CPGs, which pay for coupons, and retailers, where coupons are redeemed. They emerged for a good reason: to serve as the trusted middle party," said Steven Boal, CEO of Quotient. "However, with the rise of digital coupons, the role of the clearing firm has drastically changed. Many tasks that are associated with paper coupons are now unnecessary, but clearinghouses often still charge the same fees. Costs are maintained for no additional value-added services, while the actual operating costs for digital coupon processing go down. While these clearing firms still have a role to play in the industry (and particularly with paper coupons), their role is shifting in the digital coupon ecosystem. Our partnership with Mandlik & Rhodes turns the old, unnecessary and notoriously ambiguous fees into working dollars — ushering in a disruption for this industry that was long overdue."
"Through this partnership with Quotient, we’re providing complete transparency to our customers and making all costs completely clear," said Pradeep Mandlik, President of Mandlik & Rhodes. "We’re thrilled to offer CPGs a way to avoid unnecessary, hidden fees associated with traditional clearinghouses. This partnership enables them to invest those dollars directly into growing their sales and reaching their consumers instead."
The digital and paper clearing solution offered through the Quotient and Mandlik & Rhodes partnership is available for CPG brands to use immediately.
About Quotient Technology Inc.
Quotient Technology (NYSE: QUOT) is the leading digital promotions, media and analytics company that delivers personalized digital coupons and ads – informed by proprietary shopper and online engagement data – to millions of shoppers daily. We use our proprietary Promotions, Media, Audience and Analytics Platforms and services to seamlessly target audiences, optimize performance and deliver measurable, incremental sales for CPG and retail marketers. We serve hundreds of CPGs and retailers nationwide, including Clorox, Procter & Gamble, General Mills, Unilever, Albertsons Companies, CVS, Dollar General and Peapod Digital Labs, a company of Ahold Delhaize USA. Quotient is headquartered in Mountain View, California, and has offices in Bangalore, Cincinnati, New York, Paris, London and Tel Aviv. Visit www.quotient.com for more information.
Quotient and the Quotient logo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United States and other countries. Other marks are the property of their respective owners.
About Mandlik & Rhodes
Since 1995, Mandlik & Rhodes Information Systems, Inc has been delivering strategic coupon processing solutions for manufacturers and retailers in the consumer packaged goods industry. Many of the world’s largest and most successful coupon programs are powered by their patented technology.
Pradeep Mandlik and Kevin Rhodes founded MRIS with the vision of creating innovation in the promotion industry. Although manufacturers were spending millions of dollars for coupon programs, they did not have sophisticated tools available for forecasting, budgeting, misredemption control and deduction management. Mandlik & Rhodes designed and developed PROMOTION AND REDEMPTION INFORMATION SYSTEMS (PARIS)℠ using the latest technology and created the most advanced coupon processing system in the industry. PARIS℠ quickly became a ‘power’ behind many of industry’s most successful coupon programs.
Mandlik & Rhodes is a fully authorized retailer coupon clearinghouse. With the help of their state of the art C*Clear™ system, Mandlik & Rhodes provides a customer focused solution to thousands of stores.
A constant quest for innovation and excellence, industry experience, superior customer service with customer-first attitude and sincere work ethic make MRIS and its people an asset to the coupon industry.
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