Here are some insights on beqom drawn from our latest Value Index research, which provides an analytic assessment 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 fourth 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.