Last week, we announced a major milestone in our journey: a $300 million strategic investment from Sumeru Equity Partners. This investment will fuel product innovation to benefit our customers and HCM leaders worldwide. It will enable us to grow and scale as we continue our mission to build the global standard for compensation management.
What will it mean for our customers, employees, and partners?
Continuing our commitment to customers
We have been developing beqom for more than a decade by prioritizing the needs of our customers. We focused on delivering best-of-breed compensation functionality, carefully nurturing a culture of excellence, and caring for our employees and customers. Our culture and dedication to our clients will not change—if anything, they will become stronger thanks to the added resources this new investment will bring.
Remembering the reason we’re in business
Our story began in 2009 when a group of former SAP executives saw a major pain point in the world’s leading companies for which there was no comprehensive solution. Compensation—both a major expense and a key driver of performance at most companies—was lacking in automation and proper governance. Many companies, including large global corporations, were still managing compensation with spreadsheets or outdated homegrown systems, creating issues with accuracy, cost, risk, compliance, and the ability to execute corporate strategy. beqom was born to fill that void.
Our founders also noted that there was no single platform to manage all the different forms of compensation, especially for companies that used sales incentives. The transactional nature of sales commissions requires a different architecture than broad-based HR compensation like salaries, bonus, and equity. beqom was designed to be the first true total compensation platform.
Companies began migrating their HR processes to HCM software suites in the following years, but the compensation functionality required to drive sophisticated rewards strategies was and still remains missing. Compensation has unique data structures, calculation capabilities, process management, and analytics, that require a dedicated solution. Built with integration in mind, beqom provides the complementary functionality that is missing from HCM suites.
The beqom mission
While unmatched functionality and customer service is “how” we do it, the “why” is more important. We never forget that we are in business to help our customers succeed.
For more than a decade, beqom has continually advanced a market-leading compensation management solution that is used by some of the largest enterprises in the world, companies that use compensation strategically for competitive advantage. We have been helping companies take on challenges in HR and Sales like:
- attracting new talent,
- engaging and motivating staff,
- reducing attrition,
- boosting revenue,
- ensuring fair pay,
- supporting diversity, equity, and inclusion,
- reducing risk,
- adapting to remote and hybrid workplaces, and
- ensuring regulatory compliance.
We are excited to be entering our next phase of growth with the resources to bring more value to our customers and extend our reach. Our goal is to ensure that every leading organization around the world will have the opportunity to benefit from beqom’s best-of-breed technology.
As we grow, we pledge to stay true to who we are. We have endeavored to be a company with a soul, acting with integrity, supporting social causes, and furthering conversations about the role of kindness, compassion, and social responsibility in business.
We hope you will join us on our journey.