Red Bank, NJ, September 9, 2009 - Paramax, the leading supplier of incentive, recognition, and rewards technology to the incentive industry, announces Version 5 of their AchievaSuite Incentive Management technology. The latest version will be unveiled at the Motivation Show in Chicago, September 29th.

Achieva Version 5 includes a major upgrade to Microsoft .NET version 3.5, as well as substantial security improvements under the direction of a Fortune 100 security auditor.

Achieva Version 5 is enhanced to include several new awarding mechanisms: Award Code Submission, Employee Referral, and Event Reporting for wellness programs. Additionally, support for several new capabilities has been built into the platform, including: single sign on support, points expiration, a unique identifier and verification engine, multiple point-types, multi level approvals, nomination voting, team awards, and a new and enhanced reporting engine. Finally, the communications and engagement functionality has also been upgraded to include automated communication, quiz randomization, and printable participant statements.

First developed in 1999, Paramax Incentive solutions have managed thousands of Incentive, Recognition, and Rewards programs for Employee Programs, Direct Sales, Sales Channel, and Consumer Loyalty Programs.

Paramax creates point-based incentive, loyalty and recognition programs for employees, sales teams and channel partners. The company focuses on providing the best solution for each client to achieve greater program success at lower cost. Clients include over one hundred Global companies based in the U.S., Canada, England and Australia.