ATLANTA, Jan. 19, 2017 /PRNewswire/ -- Purchasing Power®, the leading employee purchase program offering consumer products and services through payroll deduction at the workplace, announced today a comprehensive streamlining of its organizational structure designed to empower its next phase of evolutionary growth. Key to this reorganization is the creation of four primary business pillars: Customer, Commerce, Products & Technology and Corporate Services.
Each new division will be led by current executives promoted to oversee expanded and refocused business responsibilities. The senior management team will continue to report directly to Purchasing Power's CEO Richard Carrano. In December 2016, Chicago-based private equity firm Flexpoint Ford, LLC invested in Purchasing Power to help support the future growth of the business.
Effective immediately, Scott Rosenberg, formerly Chief Financial Officer, has been named President and CFO, responsible for all "Commerce" concerns. His responsibilities will encompass business-to-consumer marketing, creative services, merchandising, supply chain and risk management. With shared accountability with Carrano for "Corporate Services," Rosenberg also will direct operational excellence, accounting and finance operations.
Former Purchasing Power Chief Revenue Officer Elizabeth Halkos has been named Chief Operating Officer, charged with supervising all "Customer" activity. These include sales, account management, client services, customer experience, customer care, customer operations, business-to-business marketing, research and public relations.
To oversee "Products & Technology," Chief Information Officer Prakash Muthukrishnan has been named Chief Technology Officer, with responsibility over eCommerce systems & content, data architecture, backend systems, project management organization, client operations and ETL (electronic transform load), and product development.
"Throughout my 15 years with Purchasing Power, we have continued to set and achieve significant goals and objectives. One of the constants contributing to our success has been our commitment to our company's purpose—'Powering People to a Better Life'," said Carrano. "With our recently announced partnership with Flexpoint Ford, we have a unique opportunity to reimagine the future of our business and the activities we undertake to make this a reality. Now is the ideal time to begin the transition to our next phase of growth and customer experience."
As the leading specialty e-retailer serving U.S. employers and membership associations with a financially-responsible buying method available as a voluntary benefit, Purchasing Power employs simple paycheck deduction as a buying option. Transparent pricing, automatic payments and 12-month payment terms empower customers to budget their purchases which never have (or include) interest charges, fees and/or penalties. This integrated e-commerce experience provides customers a more responsible way to buy.
"All organizations endure change, and great ones thrive on it. Change is what drives opportunities for companies and individuals alike," Carrano explained. "I am extremely proud of what this company and our people have already accomplished, but I'm even more excited about our prospect for continued success."
About Purchasing Power, LLC
Purchasing Power, LLC, is one of the fastest-growing voluntary benefit companies in the industry, offering a leading employee purchase program for consumer products and services as well as providing financial tools and resources to improve employee financial wellness. Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. Headquartered in Atlanta, Purchasing Power is 'Powering People to a Better Life™' through its employee purchase program, financial literacy efforts and corporate social responsibility initiatives. Purchasing Power is a Flexpoint Ford, LLC company. For more information, visit www.PurchasingPower.com.
Joe Swaney, 404.609.5630
Juliann Kaiser, 770.643.0615
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SOURCE Purchasing Power, LLC