beqom, a provider of a cloud-based total compensation management solution, has announced the release of its version 9.1, featuring significant new functionality to bring compliance, control, and insight to the management of compensation processes in sophisticated enterprises. Many of the features are especially relevant to highly regulated industries such as financial services, energy, and manufacturing.
Key new functionality includes the introduction of a dynamic form builder that links auditable records to compensation processes and an enhanced analytics dashboard that gives users at all levels clear performance data.
“I’m excited to see the release of beqom 9.1,” said Vismay Gada, Head of Global Customer Success at beqom. “This release gives organizations a solution with unprecedented capabilities to run compensation processes with visibility, transparency, traceability, and compliance. The user experience is phenomenal, for executives, managers, and employees alike.”
With new dynamic forms, compensation administrators can now easily capture related information for any compensation process. For example, administrators can attach Q&A fields to capture manager recommends for bonus awards, securely recording justification for compensation decisions. This auditable record can be used to satisfy regulators and to ensure that company policies on compensation allocations are being followed.
In another feature, beqom users can now more easily create custom real-time dashboards through drag-and-drop homepage widgets, helping to cement the link between pay and performance and to provide pay transparency. While an individual employee may quickly display his own total cash and non-cash rewards, managers may create an overview of performance results, such as trends and forecasts.
“The new drag-and-drop dashboard has received great reviews from early users,” says Joost Hoppenbrouwers, beqom Head of Services and Product Development. “Based on the feedback of our customers, the improvement in data modeling and configuration solidifies beqom as a leader in compensation analytics.”