In today's market, businesses strive to reliably and securely reward their top consumers for loyalty. Identifying high value consumers while tracking and validating their instore and online purchase behaviors in a secure and reliable way can be a challenge. Best-in-class purchase validation technology can help businesses securely collect, organize and analyze consumer demographic and purchase data. It enables brands to reliably reward customers for purchases and incentivize them to make more purchases. What is purchase validation technology, and how can your business benefit?

What Is Purchase Validation Technology?

Purchase validation technology is a key tool for brands looking to attract new consumers and securely incentivize them with rewards for purchases at any physical or online store. While it can be used on any point in the traditional path to purchase, it is commonly used to validate purchase receipts or sales orders. Consumers or resellers simply take a picture or screenshot of their purchase receipt and upload it to a brands’ microsite.

Purchase validation technology converts the picture of a document into a machine-readable text format and extracts the text. The text extracted from receipts, forms, legal contracts, and invoices is translated into a consistent, editable, and machine-encoded format. The result is that a picture of a document, regardless of the content and format, can be converted into a reliable body of text that can be analyzed and used to validate a purchase or various other business processes. Purchase validation software utilizes pattern recognition or feature detection algorithms to convert unstructured data into a machine-readable text file.

Purchase validation technology has numerous applications across different industries, including text-to-speech software, digitizing large quantities of historical information, visually-impaired assistance systems, or gathering valuable data to inform business strategies. In recent years, it has seen significant advancements through the integration of artificial intelligence, which enables the software to comprehend unstructured data accurately. Purchase validation technology is crucial in enhancing data accuracy and processing efficiency, making it a valuable tool for businesses and organizations seeking to automate their document processing workflows. With the continued development of this tool, it is expected to become even more sophisticated, enabling businesses to derive valuable insights from unstructured data in the future.

Purchase validation technology is applied in various domains, such as document scanning, business process automation, and data entry. It is especially advantageous for brands wanting to securely reward consumers/resellers when they make purchases. Effective purchase validation software is able to handle a considerable volume of paper-based documents that require digitization, validation and easy searchability. By enabling swift and precise conversion of such documents into digital formats, purchase validation technology is a valuable tool for B2B and B2C businesses to streamline their operations.

B2B

Use Case: The Toro Company

The Toro Company is a worldwide provider of innovative solutions for outdoor environments. They manufacture and sell a range of products including lawnmowers, snow blowers, and irrigation system supplies for commercial, residential, agricultural, and public sector uses.

Since 2017, 3 tier logic has partnered with Toro to create solutions designed to grow sales from consumers, resellers and distributors by reliably and securely incentivizing purchases with rewards.

Over the years, Toro has increasingly utilized 3 tier logic’s PLATFORM³ for consumer and reseller lifecycle data management and purchase validation. Consumers and distributors can effortlessly upload one invoice or batches to a Toro branded web portal powered by PLATFORM³. PLATFORM³’s Purchase Validation module enables Toro to provide high value rewards for purchases from online or instore. By incentivizing consumers and distributors for their sales of Toro products, Toro has successfully motivated teams to boost ROI each quarter.

Toro's partnership with 3 tier logic has proven to be a highly effective strategy to increase sales and incentivize distributors and consumers. By leveraging the cutting-edge purchase validation technology on PLATFORM³ and embracing this avenue of growth, Toro has achieved sustained success in the B2B sector of their brand.

B2C

Use Case: TENA®

TENA® is one of North America’s leading brands of personal hygiene products for adults with incontinence. Its products include pads, underwear, diapers, disposable wipes, and creams, and are sold worldwide. TENA® chose to partner with 3 tier logic to launch the Tena Consumer Rewards Program for customers in Canada and the United States.

Through the Purchase Receipt Validation module that utilizes our technology on PLATFORM³, customers can validate their purchases by registering and uploading a picture of their receipt to the consumer portal. Once their purchases have been validated, consumers are rewarded with points. Every dollar spent is equal to 100 points earned.

PLATFORM³’s Data Capture & Analytics module also utilizes our purchase validation technology by giving TENA® the ability to track the loyalty program’s progress and growth in real-time and collect valuable insights about their consumers.

Benefits of Purchase Validation Technology

Purchase validation technology has multiple benefits for both B2B and B2C businesses looking to gather reliable data. One of the key advantages is its ability to automate data entry and text recognition, saving employees time and reducing the risk of errors. Additionally, purchase validation software can digitize paper documents and store them in a database, making data easier to search and access and enhancing decision-making processes. Purchase validation software algorithms have also become increasingly accurate in recognizing text, including in different languages, fonts, and document formats. The technology also provides a high security for sensitive or confidential information. Lastly, purchase validation technology can automate customer service tasks, improving response times and accuracy and freeing employees to focus on other aspects of their job.

Enhanced efficiency

A significant benefit of purchase validation technology is its ability to automate the process of data entry and text recognition. This means that employees who spend most of their time doing manual data entry can save time and reduce the risk of errors. Purchase validation software can extract information from scanned documents and insert it into a database or spreadsheet, allowing users access to organized data. The high level of efficiency that purchase validation provides allows businesses to scale their processes across large programs.

Easy access to data

Purchase validation software also enables paper documents to be digitized and stored in a database, making data easier to search and access. This is especially valuable for businesses that require a high volume of paper documents for their daily processes. When paper documents are digitized, they no longer need to be physically stored, and specific information can easily be accessed. Purchase validation technology also helps enhance decision-making processes by enabling employees to easily retrieve the information they seek.

Improved accuracy

Purchase validation technology has the added advantage of enhancing text recognition accuracy. Thanks to the continuous advancements in algorithms, they can now accurately recognize text in various languages, fonts, and document formats. This feature is especially crucial while dealing with documents that contain confidential or sensitive information since it guarantees that the extracted text is not only easily accessible but also precise and trustworthy.

Reliable security

Another advantage of Purchase validation technology is the high level of security pertaining to sensitive or confidential documents. Storing documents electronically means that businesses can decrease the risk of data breaches and safeguard against unauthorized access to protected information. This feature is necessary for individuals who regularly handle sensitive information as it provides additional protection for their data.

Reduced costs

Digitizing documents through purchase validation technology can significantly help businesses reduce their expenses related to paper documents. By storing information digitally, companies can minimize the need for physical storage space and reduce printing and shipping costs. In addition, the use of this software can automate data entry and document processing, reducing labor costs associated with manual data entry. Purchase validation technology can be a cost-effective solution for businesses looking to streamline their operations and improve their bottom line.

Better and faster customer service

Using Purchase validation technology to automate the handling customer inquiries is another valuable benefit. By analyzing customer queries and providing appropriate responses, Purchase validation systems can help businesses to improve response times and accuracy. This, in turn, can lead to increased customer satisfaction and loyalty. Automating customer service tasks can also free employees to focus on other important tasks, such as product development, marketing, or customer outreach, which can help the business grow and thrive.

Improve Consumer Engagement and Data Security

In conclusion, purchase validation technology is a game-changer for businesses seeking to streamline their document processing workflows. It has numerous applications across different industries, and with its continued development, purchase validation technology is poised to become even more sophisticated, enabling businesses to derive valuable insights from unstructured data. Purchase validation technology provides significant advantages for B2B and B2C businesses, such as saving time, reducing the risk of errors, enhancing decision-making processes, and automating data entry and text recognition. This is a valuable tool that businesses can leverage to gain a competitive edge in today's fast-paced digital environment.

3 tier logic’s purchase validation technology on PLATFORM³ leverages analytics to connect with consumers through short-term marketing promotions and full-scale loyalty programs. Modules like Dynamic Messaging, Points & Gamification, and Data Capture & Analytics give marketers the tools to tell their stories and build customer loyalty. To learn more, chat with an expert today.

Revolutionizing Data Collection: The Power of Purchase Validation Technology