beqom FlexFS for Financial Services

Over a decade of experience in managing total compensation for the world's leading financial institutions brings you an end-to-end compensation management solution designed and built exclusively for the financial services industry.

Check out our video on how HR digitization will transform Financial Services.

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Vismay Gada, beqom Head of North America and Global FSI

Benefit from a decade of experience in compensation management for financial services

We took our years of proven experience in designing and implementing compensation management technology for Fortune 500 financial services clients and delivered it in an innovative and focused solution designed to handle the dynamic and sophisticated compensation processes of financial services organizations.

beqom is used by leading FS companies worldwide across all sizes and sectors, including Investment Banking, Retail Banking, Private Banking, Asset Management, Wealth Management, Private Equity, Fintech, and other FS activities.

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Six Keys to Managing Financial Services Compensation

beqom FlexFS provides the flexibility and agility needed to manage global compensation, without compromise, for leading financial services organizations. Focused, innovative and advanced, beqom FlexFS fills the gaps in rewards management that HCM solutions are not able to address.

Now, manage your reward processes your way—no compromises:

Complex Budgeting with beqom

Complex budgeting & org management

  • Salary / bonus pool budget allocation
  • Multi-matrix hierarchies and security setup
  • Compensation accrual management
Financial Services Complexities with beqom

Compliance, security, and reduced risk

  • Audit tracking
  • Compensation committee reporting
  • Regulatory Identification and compensation management
Pay Transparency and Empowering Employees with beqom

Empowering managers and employees

  • Manager self-service (team and individual views)
  • Employee self-service and elections
  • Individual compensation planning
  • Total Rewards dashboards, statements, compensation communication sheets
Automatic Multi-currency Management with beqom

Designed to handle financial services complexities

  • Market data matching and benchmarking with peer groups
  • Deferred compensation grant and administration
  • Carried interest
  • Malus, clawbacks, risk adjustment
Key Analytics and Support with beqom

Analytics and intelligent decision support

  • Compensation analytics
  • Pay equity analysis
  • Intelligent recommendation engine
Compliance, Security, and Reduced Risk with beqom

Automatic multi-currency management

  • Employee multi-currency management
  • Multi-currency comp planning
  • Multiple FX rates management

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Clear results reported by beqom customers

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95%

reduction in spreadsheets used for compensation tracking and management
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95%

elimination of IT and travel costs for IT support, infrastructure, consulting, and comp reviews
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€1.1M

costs saved by corrections of rounding errors in formulas
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65%

drop in need for HR support by enabling employee and manager self-service

Why trust your strategic process to anything but the best?

beqom FlexFS provides you with:

  • Best practices.

    FS comp best practices packaged in one easy to use and easy to set up solution.

  • Transparency.

    True compensation transparency thanks to one centralized solution.

  • Flexibility.

    A flexible and agile environment to change with the times.

  • Security.

    A platform that follows the latest GDPR, SOC and ISO regulations to ensure data security and privacy.

  • Auditability.

    Built-in compensation audit tracking and reporting for internal and external governance.

  • Fair pay.

    Rule based, automated, recommendation engine removing unconscious bias in comp decisions.

  • Cost control.

    Visibility, consistency, and analysis to ensure compensation cost-effectiveness.

  • Compliance.

    Traceable and transparent processes and approvals, supporting audits and regulatory compliance requirements.

  • Automation.

    Digital automated processes that ensure accuracy, speed, and efficiency.

    • Centralization of data.

      beqom integrates natively with the systems that tie to compensation management, such as HRIS, ERP, CRM, and Finance systems.

     

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Related Resources

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beqom FlexFS for Financial Services

Download the beqom FlexFS brochure to see how easy it can be to implement best practices in compensation management on a digital platform, while managing total rewards your way, with no compromises, to deliver valuable results and ROI.

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The-ROI-of-Compensation-Management-Software-for-FS-Resources

The ROI of Compensation Management for Financial Services

Download this free eGuide to understand what makes financial services compensation too complex for existing approaches, and to help build a business case for digitizing your compensation processes.

  Download eGuide
Transforming Compensation in Financial Sector with beqom

Transforming Compensation Processes in Financial Services

Download our financial services industry overview to read customer case studies and see what makes beqom the number one choice for compensation management among the world’s top financial services firms.

  Download Industry Overview
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