Company: Parago, Inc, Lewisville, TX
Company Description: Parago is the innovative provider of reward-based incentives solutions that deploy technology to drive better results from consumers, employees and sales channels. Parago has distinguished itself in the rewards-based incentives field for more than ten years by consistent reinvention of legacy approaches, introducing 27 industry firsts and receiving three patents.
Nomination Category: Individual Categories
Nomination Sub Category: Best Entrepreneur – Service Businesses – up to 2,500 Employees
Nomination Title: Juli Spottiswood, President and CEO
Describe for the judges the activities and accomplishments of the nominated entrepreneur during the eligibility period (up to 500 words):
Juli Spottiswood was a founding executive with Parago at its inception in 1999
and served as the company’s CFO until her promotion to CEO in 2007. In a short
period of time, Parago has become one of the largest consumer incentives
companies in America building on its 8 year foundation of providing rebate
processing services. Upon her promotion to President & CEO, Juli dove
head-first into accelerating growth in Parago’s consumer incentive business and
driving revenue and diversification by creating a corporate incentives offering.
The award period marked an era of invigoration, excitement and exponential
growth with Juli firmly at the helm. In this time, company-wide advancements
included tremendous success with new product introduction, exemplary innovations
in both technology and process and a new sales approach.
Since its entry into the consumer incentives space, Parago has introduced
significant paradigm shifts and significantly improved the consumer experience
and clients’ results. Juli had the insight to recognize the impact prepaid cards
could have, and helped usher them into the rebate industry: providing
corporations additional branding opportunities, incremental sales to sponsors
and an easier consumer experience. Juli helped lead the charge toward
introducing paperless (online) rebates, an innovative first within the industry
and a differentiator that established Parago as a trendsetter and leader.
Quick Paperless, Parago’s paperless rebate offering, has enabled dramatic
operational efficiencies, allowing for a 10x improvement in implementation cost,
a dramatic reduction in client on-boarding times, the ability to address the
mid-tier market and a 2x expanded market potential. A new on-boarding process
was developed in 2008, and with it Parago was able to implement 17 clients in
one month, a process that prior, could have taken more than 6 months, due to the
customization older systems required.
Juli simultaneously launched a new sales approach, hiring key industry
executives and driving dramatic results from Parago’s sales force – the proof of
which are evident in Parago’s fiscal results.
Parago’s charge into prepaid card and paperless rebates, innovation and desire
for improvement has resulted in a leadership position in the consumer incentives
field. Most importantly, in a dismal economy, Parago has achieved remarkable
growth. This growth has come from (1) the introduction of new products/services,
(2) the expansion of revenue within existing clients, and (3) new clients.,
Juli was this year recognized as an Ernst & Young Entrepreneur of the Year award
winner in Southwest area due to her pioneering strides at Parago. The Company’s
efforts to improve the consumer experience resulted in an A+ rating from the
Better Business Bureau.
Resting securely on its innovative approach to the consumer rebates space, in
2008 Parago received a 93% positive client satisfaction score, secured 18 new
clients, retained 98% of clients, processed rebates for 10% of the US
population, fulfilled more than $1 billion dollars in rewards and added several
corporate incentive programs utilizing its proprietary technology platform.
Today, as a result of ongoing innovation and Juli’s leadership, most consumer
rebates are fulfilled on prepaid cards and Parago manages more prepaid rebate
programs than any other provider.
List the URLs (web addresses) of any online news stories, press releases, or other documents that you would like the judges to see that support your entry. IMPORTANT: List each URL on a separate line, begin each URL with http://, and enclose each URL in square brackets. For example, [http://www.yourcompany.com/pressrelease.html]:
Press Release: Parago grows 20 percent in 2008; achieves significant milestones
Press Release: NETGEAR retains Parago to implement new FastCash incentive program
Press Release: Parago CEO Juli Spottiswood named Ernst & Young Entrepreneur of
the Year award winner in Southwest area-North
Press Release: Parago Elevates Standing in Incentives Industry with PROMO100
Press Release: Parago Becomes Member of Prestigious Giving Club for Texas
Scottish Rite Hospital for Children
Press Release: Parago Garners A+ Rating from Dallas Better Business Bureau
Provide a brief biography of the nominated entrepreneur (up to 100 words):
Juli Spottiswood, Parago President and CEO:
Spottiswood helped form Parago in early 1999 as the company's CFO and was
promoted to President and CEO in 2007. She is responsible for strategic
expansion of the company's promotional services offerings and driving innovation
within the rebate processing and promotions industry. Ms. Spottiswood, serving
as a Director of Parago, also serves as a board member and Treasurer of the
Network Branded Prepaid Card Association (NBPCA), an association formed to
promote the use of prepaid cards as an alternative payment vehicle.