1. Introduction

1. Ledgers for Reward and Loyalty Points is a comprehensive tool that combines a robust API suite and an intuitive dashboard to allow businesses to issue, redeem, and track reward points in real time.
2. The system supports various types of reward programs, including purchase-based, referral, and promotional campaigns, ensuring flexibility for businesses to cater to different customer engagement strategies.

2. Key Features

Following are the key features -

1. Point Issuance:

Businesses can issue reward points to their customers using the Create Transaction API. This API requires parameters such as the customer ID, program ID, number of points, and expiry date. Once triggered, the transaction is recorded in our system, and the issued points are immediately reflected on the dashboard. This enables businesses to maintain a real-time view of points distributed across their customer base.

2. Point Redemption:

Similar to point issuance, the redemption process is handled via the Create Transaction API. When customers redeem points, businesses trigger this API with the relevant customer and program details. The system records the redeemed points and reflects the updated balance and transaction on the dashboard.

3. Point Expiry:

Expiry is an automated process. Once reward points are issued with an expiry date, the system automatically tracks and expires those points when the date is reached. This action is also updated on the dashboard, providing businesses with insight into how many points have expired over time.

4. Multi-Channel Issuance and Tracking

This feature allows businesses to issue and track reward points across various channels, such as purchases, promotions, referrals, and more. Decentro enables businesses to manage multi-channel tracking by adding a custom parameter for the channel in the Create Transaction API. During the point issuance process, if businesses want to track points by channel, they simply need to pass the channel information within the additional_parameter field in the API request. The system will automatically handle the recording and tracking.

5. Advanced Analytics and Insights

The dashboard offers both high-level and granular metrics, empowering businesses with detailed analytics across multiple dimensions. This includes metrics at -

1. Reward point Level - Points Issued, Redeemed, and Expired
2. Transaction Level - Volume and Frequency
3. Program Members Level - Engagement and Participation Rates
4. Customer Level - Individual customer activity and reward balance