To win in the marketplace, one must first win in the workplace. The companies around the world are expected to create an environment where employees can thrive to enjoy better workforce retention, enhanced growth opportunities, and markedly improve resistance to market pressures in tough times. One of the simplest ways to achieve this is through a fair, commensurate and transparent system of compensation.
A company that is known for its focus on giving its clients simple, and reliable and versatile employee compensation options, is beqom. Its best of breed Total Compensation solution can handle complex remuneration, performance, and reward program criteria to create systems where everybody wins.
Today, the beqom solution is employed by large organizations worldwide, giving around three million people the compensation they deserve and contributing to vibrant, efficient workplaces.
Adaptable, Accurate Compensation
beqom envisions a future where it will make 130 million people working for the 5,000 largest companies in the world happy.
“To be happy, these people need to understand how their day-to-day job contributes to the overall mission of their employer. They also need to be compensated fairly for doing their part. All this adds to employee engagement, motivation, and retention.”
The beqom Total Compensation Solution is designed to meet the full requirements of even the most complex compensation, performance, incentives, and reward programs, in one solution without separate modules or the need for IT.
By leveraging an adaptable compensation cloud and foundation rules engine, compensation plans are very dynamic, and this streamlines administration, execution, calculation, simulation, reporting, analysis, and benchmarking. It also safeguards compensation accuracy while motivating responsible employee behavior. The result is improved productivity and transparency from earnings to payment.
Wanting to drive maximum value for its customers, beqom has been innovating across all aspects of its platform. It has enhanced systems to optimize performance and rewards, with continued investment in improving the user experience. AI and Machine learning have also been developed, to provide insights that enable optimization across the entire solution, from design to decision making.
An Adept CEO
beqom places its employees at the heart of the organization, prioritizing them even before the customers. This company culture to find the employees who are motivated and aligned—provides the foundations of the company.
At the heart of this is CEO, Fabio Ronga. “People are the source of everything beqom is. Finding and hiring these people and seeing them working together is one of the most satisfying things”.
Prior to beqom, Fabio worked for two international companies, Hyperion and Outlooksoft. His time at Hyperion was well spent, where he learned everything about developing, marketing and servicing great enterprise software for large multinationals.
In 1999, Fabio became one of the first employees of Outlooksoft. As the only European there, Fabio was keen from the beginning to make Outlooksoft a success not just in the US, but globally. In 2003, he moved back to Europe to oversee the company’s operations in Europe and Asia.
At the time of its acquisition by SAP in 2017, Fabio managed the non-US arm of Outlooksoft, which accounted for half of the company’s revenues.
The experiences at both Hyperion and Outlooksoft allowed Fabio to develop the necessary leadership skills required to drive the success of beqom. With his global mindset, undying persistence and determination to succeed, Fabio has smoothened the sail of beqom.
A Strong Foundation with an Aim to Provide a Unified View of Total Compensation
beqom was founded upon recognition of the fact that many companies lack a simple, flexible approach to define and compute employee compensation. One of the main factors is that large firms still use spreadsheets to define and calculate such compensation.
The company saw that traditional Sales Compensation providers were only focused on sales commissions, putting sales representative in front of multiple counterparts when it came to compensation: the sales manager for commissions, HR for salary, and Finance for LTI and accruals.
In response, beqom decided to provide a unified view of total compensation to the sales community. It automated all aspects of compensation – performance, salary, bonus, sales incentives, long-term and deferred compensation, recognition programs, and all variable cash and non-cash rewards program.
beqom is revolutionizing the management of compensation by putting the power directly in the hands of business users. They can define, adjust, align and react, to leverage compensation as a strategy to drive their own success.
Establishing a global enterprise software company outside of North America went against the grain somewhat, with almost 60 percent of the enterprise market headquartered there. Instead, Switzerland was chosen for its easy access to a wealth of talent, and its global mindset.
Within less than a decade, beqom now operates in twelve countries, with the U.S. market, generating over 50 percent of the company’s revenue. New regions including Japan, Australia and Singapore, will continue to add to the global expansion.
Unique Features, Unequivocal Assurance
beqom’s Total Compensation solution is known for its unique features:
- A single view of all aspects of compensation in one solution – a transparent and exhaustive view of all compensation and any performance and benchmark factors that drive it.
- Embrace the complexity of many populations, plans, exceptions, and requirements with an adaptable compensation cloud, giving customers the flexibility to adapt the solution to their exact compensation requirements, without compromise.
- Support specialists who ensure that every client is empowered to manage all aspects of compensation without the need for IT, so compensation is always aligned with company strategy.
Delivering Fast-Paced Success
beqom addresses two fundamental employee needs. Firstly, it allows employees to understand how their specific roles contribute to the overall company mission and, secondly, it rewards them with fair compensation.
Eric Jacquinet, Head of Compensation & Benefits for Orange, a leading European telecom provider, lauds beqom’s approach, saying, “By gaining key insights from the beqom solution, Orange has reduced the amount of overpaid commissions by up to 100,000 Euros per month.” Such positive feedback from clients is beqom’s greatest motivation, and the company aims to deliver more innovative products to them to maintain its edge in the industry.
Aiming to Thrive
beqom has already marked its presence across the existing markets, and looks forward to expanding its potential reach by providing its solutions and services in new markets.
beqom envisions making the people of its customers happy by providing a dependable compensation system. The company aims to improve its product and services by utilizing AI to connect its customers together on a single platform. Accelerated growth will power its set of actions and lead the market with its unique and fair compensation offerings.