PTO Exchange Company Research Report
Company Overview
Name: PTO Exchange
Mission of the Company:
PTO Exchange pioneers innovative solutions at the intersection of employee benefits and financial wellness. Their mission is to empower organizations and their workforce by redefining the utilization of accrued Paid Time Off (PTO), allowing employees to convert unused PTO into personalized benefits that address their unique financial needs and priorities.
Founded:
- Founded By: No information is available
- Year of Establishment: No information is available
Key People:
- Rob Whalen: Co-Founder / CEO
- Todd Lucas: Co-Founder / CTO
- Rob Schwend: Vice President of Product and Integration
- Josh Reinhard: Vice President of Sales
- Steve Armstrong: Vice President of Finance and Operations
Headquarters:
- Location: No information is available
Number of Employees:
- Employees: No information is available
Revenue:
- Revenue: No information is available
What is the Company Known For:
PTO Exchange is known for its innovative platform that allows employees to convert unused PTO into other valuable forms of financial rewards such as contributions to retirement accounts, student loan payments, charitable donations, and more.
Products
PTO Exchange
High-level Description: PTO Exchange allows employees to convert unused paid time off into various benefits that cater to their individual financial wellness needs.
Key Features:
- Employees can convert PTO to retirement contributions, loan repayments, travel awards, and charitable donations.
- Seamless integration with existing HR and payroll systems.
- Intuitive interface for easy management of exchanges.
LPA (Life Planning Account) Exchange
High-level Description: LPA Exchange facilitates employees to use their benefits towards life planning accounts for better financial security.
Key Features:
- Contributions to 401(k) / Roth 401(k), 403(b), and other retirement plans.
- Paying down student loans and funding 529 plans.
- Alternative healthcare expenses and Health Savings Account (HSA) contributions.
- Cash-out options for managing inflation or unexpected expenses.
- Travel rewards like discounted airfare, hotels, and car rentals.
- Options for charitable donations to 501(c)(3) organizations.
Recent Developments
Recent Developments in the Company:
PTO Exchange has been actively enhancing their platform capabilities and expanding their market reach through strategic partnerships and new features.
New Products Launched:
- Mobile App: PTO Exchange announced a new mobile app, which allows customers to make exchanges and manage their PTO balance on the go.
New Features Added to Existing Products:
- No information is available.
New Partnerships:
- PTO Exchange has collaborated closely with industry-leading consultants, brokers, payroll, and HRIS systems to offer innovative solutions that empower their clients to be employers of choice.
Additional Information:
Users and Exchanges:
- Active Users: 198,583
- Total Exchanged: $51 million
- Exchanged in 2023: $2.3 million
Customer Testimonials:
- Dunaway, Senior Systems Analyst: "PTO Exchange allowed me to take advantage of the time I had already earned instead of losing it. Last minute saver."
- John J., New York: "I benefited from donated PTO many years ago, which was so helpful for my family and me when my family members were significantly injured in an auto accident."
This report encapsulates the available data points about PTO Exchange, focusing on their mission, products, key personnel, and notable developments in the company. For any fields with no provided information, "No information is available" has been duly noted.
