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ToolWatch Launches Customer Referral Program, Expanding Market Impact and Giving Back to Customers
ENGLEWOOD, Colo., Feb. 14, 2005—ToolWatch Corporation launched the new Referral Partner Program, giving current customers an opportunity to reap the benefits of ToolWatch's expanding market share. By giving back to loyal customers, ToolWatch hopes to deepen business relationships while broadening adoption of its software using one of the strongest marketing tools available—word of mouth.
ToolWatch is a software company that serves organizations of all sizes with a need to manage inventories of tools, equipment and supplies. The company created the first packaged tool tracking software system nearly 15 years ago, giving the construction industry an easy way to electronically track and manage their tool assets. The addition of a customer referral program demonstrates ToolWatch's commitment to current clients and to penetrating a marketplace that stands to benefit greatly from the productivity and financial gains ToolWatch can offer.
"A comprehensive tool tracking system such as ToolWatch SE prevents loss and improves efficiencies, saving businesses tens of thousands of dollars each year. Partnering with our customers will allow our company to grow in new markets that urgently need this software in order to compete in a competitive marketplace. At the same time, we have the opportunity to give back to our current loyal clients in way that they can appreciate—cash." said Joe Caston, vice president and general manager of ToolWatch.
The Referral Partner Program is designed to broaden and accelerate the adoption of tool tracking and asset management across the construction, facilities management, municipalities, military, oil & gas, transportation, and utilities markets. Under the program, a partner provides a lead referral introduction and contact information to ToolWatch, allowing the sales team to contact the lead and demonstrate the capacity of the ToolWatch SE software. Referral Partners are compensated 10 percent of the software sale when a referral results in a software license between ToolWatch and the referred customer.
ToolWatch understands the significant role personal relationships play in generating interest in leading edge products and services such as tool tracking and management. By encouraging clients to discuss the benefits of ToolWatch with contacts, ToolWatch hopes to capitalize on the positive experiences clients have had with the software and pave the way for new, mutually beneficial relationships.
The Referral Partner Program is available now. Potential partners can learn more and apply on the ToolWatch Web site. Once approved, they may submit a referral and begin working with the sales team. After a sale is closed with the referred party, the Referral Partner is sent a check for 10 percent of the software sale. Referral partners also receive opportunities to participate in collaborative marketing projects.
About ToolWatch Corporation
Founded in 1991, ToolWatch is the world's leading provider of tool tracking and management systems, combining easy-to-use ToolWatch data collection devices with a powerful database system. Its technology enables the tracking and management of equipment inventory from the office, tool crib or any field location, delivering significant savings of both time and money to companies of all sizes. In addition to its core competency of tool and equipment management, ToolWatch systems also facilitate billing, purchasing and theft prevention functions. ToolWatch has more than 6000 installations in 20 countries around the world. Its client base includes General Electric, AT&T, J.E. Dunn, Parsons Electric, Inc., Peter Kiewit Sons', Inc., Turner Industries Group, L.L.C., Caterpillar, Chrysler Motors, Lockheed Martin, Procter and Gamble, Lucent Technologies, W.G. Yates & Sons Construction Co. and Walt Disney World.
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