beqom, Swiss-based global provider of a cloud-based total compensation solution, announced Tuesday, April 10, 2018 that it has been selected by one of the world’s leading private equity firms to manage its HR, salary and bonus processes.
In a statement made available to businessamlive.com, beqom said the firm, which it not disclosed, realized the need for a more sophisticated solution capable of addressing its compensation needs and seamlessly integrate with its cloud-based HR suite, hence its engagement.
With beqom, the private equity leader is expected to improve efficiency and reduce cost spent on process administration while also providing a clearer picture of total rewards for its employees. A key challenge and driver for selecting beqom was their ability to provide a flexible platform for the firm’s requirements for ad hoc and on-demand capabilities, according to the statement.
“Financial Services organizations have unique challenges in planning and executing their total compensation process. In fact, 44 percent of organizations in our benchmark research state they are not able to align pay and performance effectively,” commented Steve Goldberg, Vice President and Research Director, HCM at Ventana Research.
“beqom offers a robust, well designed compensation solution that our research has found to be a value index leader with respect to dimensions such as overall capability and manageability, critical enterprise software requirements in the financial services industry.”
This win further validates beqom’s compensation expertise in the financial services industry, and the firm joins a growing number of financial institutions leveraging beqom’s total compensation solution.
“We are delighted to see another client retiring a homegrown solution in favor of beqom’s more flexible, cloud-based compensation system,” said Fabio Ronga, beqom’s CEO.
“This win represents yet another US-based private equity firm selecting beqom as their preferred compensation management solution.”