beqom: Streamlining Compensation Management

“I am wonderstruck by this!” exclaimed a CIO in the conference room of his plush New York office, after attending a presentation on a cloud-based compensation management platform. He had witnessed first-hand, the capability of beqom’s flagship product to compute salaries, bonuses, stock options, and special incentives as per different rules, which left him deeply impressed. The CIO shook hands with Fabio Ronga, CEO, beqom, who had just presented several hitherto unknown capabilities of compensation management; the deal was struck and Ronga left to get cracking on his new assignment. Such has been Ronga’s routine ever since the inception of beqom. Having spent much of his career in business intelligence where advanced technologies rule the roost, Ronga sensed a gap in the HR domain that used spreadsheets to compute employee compensation. This sparked the idea to create an AI-powered, cloud-based compensation management platform.

beqom offers a cloud-based Total Compensation platform that addresses all aspects of HR compensation and Sales Performance Management. beqom guarantees that compensation processes are tightly controlled and compliant with external regulations and internal policies. The platform functions as a rules engine that links an individual’s performance to the KPIs set by the management to calculate the final compensation. “It is vital for employees to get a feeling of being justly compensated,” remarks Ronga. beqom offers sufficient transparency and visibility into employee performance and compensation paid, which drives greater performance and satisfaction, thereby boosting the employee retention rate. An enterprise client that leveraged beqom’s compensation solution replaced six of the existing systems with beqom; doing so allowed the client to enjoy more functionality at a lower cost than all the previous systems put together.

Computing compensation primarily involves entering all the information pertaining to each employee—job description, gender, academics, skills, and duration in the company—into the platform along with data on each individual’s performance. Later, information pertaining to the quantum of salary hike approved by the company and various business rules such as incentives for employees are keyed in.