SaaS has revolutionized "Reward Management" by simplifying how reward management solutions access and manage reward data across all major reward categories from merchandise to travel; gift cards to digital media. SaaS based "Reward Management Solutions" (RMS) provide robust filtering, order management dashboards with real time tracking all within one simple to connect to API. It centralized procurement under one simple hood and in most cases the cost to connect to these API's is extremely low but the value for solution providers is immense.

Take a look at these features and as you do just think about how much your company spends today performing these same services for your clients and then picture a fully automated global supply chain.

In our last article we released our "Top 10 Checklist" of what a Global Rewards Solutions Provider should consider when choosing a Global Rewards Technology to support a Global Rewards Program. Here is a brief re-cap:

1. Superior Reward Selection

2. Global Catalogues

3. Catalogue Management

4. Automated Updates

5. Order Tracking

6. Translations

7. What's New - Nothing stays the same and this is very true within reward management. One example of this is streaming media which will very soon replace the need for I-pods and MP3's altogether - all you need is an account and you can build your very own radio station. Your reward provider had better be developing a constant flow of new reward delivery options as well as new sources that provide higher service levels and value.

8. A SaaS based White Labelled Solution

9. A Customer Service Team

10. Global Currency Management

Incentive, recognition and loyalty companies can realize significant cost and time savings by partnering or licensing with a "Reward Solutions Provider". These companies will instantly expand your domestic and global reward selection while also delivering strong value, centralized procurement all within a scalable reward management solution that can take enable your company to expand on a global scale.

Companies who are able to deliver employee rewards through SaaS technology will offer a more competitive service than companies who do not offer Software as a Service solutions. In a recent survey, Information Week reported that the percentage of respondent companies who use Software as a Service technology climbed 13 points in just 11 months, from 47% in their 2010 survey to 60% in 2011.

In December 2011, Info Tech Spotlight reported that IBM conducted a study with over 3,000 global CIOs. The findings showed that around 60% of organizations were now ready to take on cloud computing over the coming five years, and they have accepted it as a way to expand their businesses and gain a competitive edge.

These numbers are hard to ignore. Companies who have already adopted SaaS technology into their workflow will likely want to deliver their recognition, incentive, loyalty and reward programs through SaaS as well, integrating everything together.