Ventana Research Analyst Perspectives

beqom Offers Strong Total Compensation Management Product

Posted by Steve Goldberg on Apr 15, 2020 3:00:00 AM

Here are some insights on beqom drawn from our latest Value Index research, which provides an analytic 1-11assessment of how well total compensation management vendors’ offerings address buyers’ requirements. The Ventana Research Value Index on Total Compensation Management 2020 is the distillation of a year of market and product research efforts by Ventana Research. We evaluated beqom and six other vendors in seven categories, five product-related (adaptability, capability, manageability, reliability and usability) and two concerning the vendor (TCO/ROI and vendor validation). To arrive at the Value Index rating for a given vendor, we weighted each of the seven categories to reflect its relative importance in an RFP process, with the weightings based on data derived from our benchmark research on total compensation.

beqom’s offering ranks fourthVentana_Research_Value_Index_Total_Compensation_Management_2020_beqom_200206 in this Value Index and is a Value Index Leader in the TCO/ROI category. The vendor supports even complex global total rewards processes end to end. beqom has many customers in financial services and few other products on the market do as well in addressing complexities such as decision hierarches, long-term incentive plans with deferred payments, pool funding and accrual rules.

The product leads the field in TCO/ROI for its best-in-class tools and support for building a business case. In addition, the product excelled in the Capability category due to its ability to manage highly complex compensation plans and packages, including tracking vesting schedules over time. It can handle a range of bonus and merit pool allocation models and bonus pools across global businesses, adjusting for currency and local market pay. Also, beqom is one of few compensation vendors we evaluated with dedicated approach sales performance management and support of sales-specific variable compensation requirements.

beqom places last in the Manageability category. We see room for improvement in the level of depth in areas such as application auditing, security risk and compliance. And while beqom's scores in the Validation category are above average, largely due to solid references and case studies, the product roadmap shows only modest near-term product investment in key areas of this Value Index.

This research-based index is the most comprehensive assessment of the value of total compensation management software in the industry. You can learn more about our Value Index as an effective vendor selection and RFI/RFP tool here. Participating vendors can learn more about how to use the Value Index here.

Regards,
Steve Goldberg

Topics: Human Capital Management, Total Compensation Management

Steve Goldberg

Written by Steve Goldberg

Steve is responsible for the Human Capital Management (HCM) research and advisory services practice. He guides HR and business leaders in leveraging their workforce for competitive advantage. He guides HCM technology vendors on the market of buyers and where their applications and technology can have maximum impact. Steve's uniquely diverse HCM experience spans over 30 years, including HR process and HCM systems practitioner leadership roles, heading up product strategy for one of the most respected HCM application vendors, and operating his own global advisory practice. His expertise areas of coverage include HRMS, Talent Management and Workforce Management, with specialized focus on recruiting, learning, performance, compensation and payroll. Prior to joining Ventana Research, Steve worked as a corporate VP in HR at UBS/Swiss Bank Corporation and Huizenga Holdings, product strategy leader at PeopleSoft and Unicru, and was also VP and Research Director at Bersin & Associates. Over 35,000 HR professionals and business executives have been informed by one of Steve's presentations on HCM, or have read his published work. Steve holds an MBA in Human Resource Management from University of Buffalo School of Management and a BBA in Industrial Psychology from The City University of New York.