NYON, SWITZERLAND—beqom, a cloud-based total compensation software provider, today announced it has been selected by one of the world's largest alternative investment managers to manage compensation for 1600 employees globally. beqom FlexFS, a compensation management solution designed exclusively for the financial services industry, will be used to manage processes for Salary/Merit Review, Bonus, and Long Term Incentives, integrating with Workday's HCM platform.
The firm had been relying primarily on Excel to manage compensation, which presented operational, compliance, and security risks, and limited its ability to scale. It was seeking a unified compensation platform that could meet all compensation requirements while preserving their unique internal compensation processes and handling some complex calculations.
“They knew they needed a solution with flexibility to support their compensation practices, and were aware that an out-of-the-box solution such as those provided by HCM software suites would most likely not be able to handle their requirements,” said Vismay Gada, Head of Global Financial Services at beqom. “beqom enables them to reduce risk while enhancing the manageability and efficiency of their processes, all without compromising their compensation strategy.”
Headquartered in the US, the investment firm manages capital for hundreds of fund investors in dozens of countries. beqom provides the compensation management platform for many of the world’s largest companies, managing $300 billion in compensation for 3 million people in 160+ countries.