Compensation Management Software

Transform compensation management at your company

Transform the way you do compensation and benefits with modern software. Base your strategic decisions on accurate data held in one centralized and integrated system, and automate and optimize your processes. We’ll advise you on solutions tailored to your particular needs.

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We implemented compensation management software for 30+ enterprise-size clients worldwide

Our clients:

Manage the key processes at your company with professional compensation management software

Compensation management software workflow

You may need compensation management software consulting services if:

Excel spreadsheets mess

  • it’s difficult to track the history of changes
  • you don’t know which spreadsheet is the most updated version
  • you spend too much time on repetitive tasks and manual data filling
  • your data is held in multiple locations
  • multiple people can access the data (no access hierarchy)
  • you are calculating everything in Excel
  • you have a lot of Excel files for a multitude of purposes
  • mistakes in processes and calculations happen and are hard to spot
  • you keep track of budgeting and business rules manually
  • you perform analytics, reports, and audits manually
  • it’s difficult to plan and forecast various compensation scenarios
  • you have to calculate compensation across multiple populations and currencies manually
  • you worry about data security
  • you have trouble identifying pay gaps
  • you spend 16 hours a day at work during the comp round, and you promise yourself it will never happen again...

See what software solution is right for your company

Case studies

LTI software implementation at E.ON

Business type
Energy
Technology
beqom
Hours saved per year
450

Benefits of compensation management software

1. Managing Complexity

If you’re like a typical compensation and benefits professional, you spend most of your time managing complex calculations, juggling spreadsheets, merging and separating files, performing repetitive tasks, and putting out fires. Stop wasting your time! Trade your outdated and time-consuming methods for a modern system where you can gather, store, and make sense of data in a matter of minutes! Now, you’ll have plenty of time to focus on what you’re called to - people and strategy.

2. Central Platform

Have you ever wondered which spreadsheet version is the current one? Or how many more do you have to update once you make a small change? We know that if you store data in a couple of different systems, Excel sheets, Workday, or SAP, they will eventually differ. If you use professional compensation management software, all your data will be held in one centralized and unified platform. All updated and with a history of track changes. Stop juggling spreadsheets, start downloading data and performing people analytics effectively!

3. Budgeting

Have you ever set up the plan and then realized it’s over the budget? With modern software, you’ll never waste your time on such mistakes again. The program automatically calculates recommended salary raises, bonuses, and total compensation expenses as you enter the data. And in case you go over, you’ll get an automated notice right away.

Manage the headcount changes, compensation policies, and currency exchange rates across various divisions, countries, and currencies. Know your current staff costs and plan future scenarios based on past, current, and projected data. Make informed choices based on data-driven predictions, not assumptions!

4. Planning and Forecasting

How do you do planning if your data pops up in a bunch of separate sources scattered all over the place? With modern compensation management software solutions, with one click of a button, you can download all your data - accurate and up to date - directly from the platform. Next, you set up predictive models that let you easily configure various plans and forecasts. In a matter of seconds, you can modify the parameters to check out the alternative scenarios so that all your decisions are informed and based on facts, not guesswork! At the end, you just print the report ready to present to your management.

5. Benchmarking and Market Data

Don’t hire an external consultant! Now, with modern compensation management software, you can do the benchmarking yourself! It’s easy, effective, and always at your fingertips - whenever you need to check the current market state, whether for the yearly review, job postings preparations, or individual employee reviews. Just upload the data to the program, set up the parameters and comparator groups, and you’re good to analyze the results!

6. Hierarchy of Access

With professional compensation management software, you can set up vertical and horizontal access hierarchies to your data across teams, divisions, and countries, as well as analysts, managers, and directors. This gives you full control over data visibility. No longer need to worry about accidental data leakage or unauthorized people viewing data they don’t have permission for. And forget about separating, merging, and blocking rows in Excel - you’ll never have to do it again.

7. Pay Equity

Pay equity and transparency are no longer nice-to-haves. They are a must for every company competing for talent in today’s tight market. Get ahead of the competition and use professional software to analyze the compensation across gender, race, age, job grade, performance, tenure, and location. Create comparator peer groups, benchmark your employee data both internally and against external markets, identify the outliers, and benefit from models, which can help you find the root cause of pay differences, create remedial budgets, and predict and prevent future gaps. Our consultants will show you that ensuring fair and compliant compensation is easy!

8. Security

Have you ever heard of someone sending the wrong spreadsheet to the wrong person? Yup, we heard those stories as well. But in today’s world, the consequences of accidental data leakage could be dire. With the legal landscape becoming ever more complex, it’s hard to keep up with all the protection requirements. And spreadsheets no longer pass them.

We know that security is not an option - it’s a must. All the systems we implement have the highest security standards. We will advise you best options for cloud data hosts, their locations, and backup choices as well as access hierarchies and permissions.

9. People Analytics and Automated Reporting

Saying that people analytics in the compensation management context is complex is an understatement. Only those who handle it know what it takes to do it right. But with the proper software, you can easily access and analyze the performance, productivity, engagement, and perform the benchmarking and pay gaps for the internal grades as well as against external market data (available to you from several sources). Now, determining all sorts of bonuses and raises across myriads of positions, departments, divisions, and countries while adhering to local policies and guidelines can be done in a matter of minutes. And all the analysis is available at your fingertips in the form of custom reports to present to the management board or an individual employee. Finally, you can link performance to reward based on accurate data.

10. Accuracy and Error Reduction

We know that sinking feeling when you find out that your spreadsheets don’t match, or that you know something’s wrong with the final number, but are not sure what formula is wrong. With professional management software, you can forget this feeling for good. Say hello to the single platform with trackable changes and the history of logs. Here, all the calculations are done through formulas set up with our implementation team. And you have full control of making any changes.

11. Auditing and Compliance

Imagine you’ll get audited tomorrow. Are you ready? If you’re like a typical comp&ben, pulling all the records from all your spreadsheet sources is already giving you a headache. But not, if you use professional compensation management software. In a matter of minutes, you can print all the documentation needed for internal or external audits. Take advantage of a full audit trail, separation of duties, and trackable logs.

In addition, we will tailor the software to your company’s particular compliance requirements. And don’t forget - GGS IT and our partners are ISO and SOC-compliant, and the software we implement also adheres to GDPR standards. Worrying about data protection and costly regulatory fines (ASC 606, CRDIV, SEC)? It’s off your plate now.

12. Scalability

If your company experiences fast growth, it’s not easy to keep up with the compensation management done in spreadsheets. And what about an acquisition? All of a sudden, you need to manage compensation for a much larger group of people. This is not a problem if you use professional compensation management software. You’ll be able to add multiple profiles to your existing database right away. Need to add new types of compensation? Not a problem at all, you just add a new compensation path and the calculations are done automatically.

Let's talk about your project

5 steps to compensation management software implementation

CMS-ImplementationProcess - 600px

Compensation processes we focus on:

Short-term incentives

Short-term incentives (STI)

We will help you set up, define, simulate, and calculate short-term incentives and annual bonuses at your company. Optimize the process with an automated budgeting, performance metrics tracking, and achievement timeline supervision. Provide your employees with personalized reports and corporate and regulatory guidelines for clear and transparent rewarding practices.

Short-term incentives, next to the fixed salary and LTIPs, are the core elements of performance-based compensation for the executives and upper management of modern companies. STI bonus motivates your key decision-makers to achieve your company’s strategic goals in the short-term perspective.

Don’t let the lack of technology limit you in the creative and attractive annual bonus design and implementation!

Long-term incentives

Long-term incentives (LTI)

Intricacies of long-term incentive plans are notorious. We will help you choose the right software to streamline the calculations of the deferred bonus over multiple plans with varying vesting periods, performance metrics, payout vehicles, and tranches. You’d be able to simulate and visualize the data and history of the bonus accrual and track the associated expenses so that everything is in line with your company’s policy and budgeting.

Long-term incentives, next to the fixed salary and LTIPs, are the core elements of performance-based compensation for the executives and upper management of modern companies. They help align your key decision-makers’ goals with the company’s long-term strategic objectives. LTIPs also play a crucial role in key talent attraction and retention.

Don’t let the lack of technology limit you in the creative and attractive LTIP design and implementation.

 Executive Compensation Manangement

Executive compensation management

Aligning the personal goals of the executives with the company strategy while providing an attractive and competitive pay schema determines the intricate nature of the executive compensation package.

We will help you manage the complexities of executive compensation with appropriate software so that your data is secure, updated, and available to be viewed by the award recipient anytime.

Don’t let technology limit you in attractive executive compensation design.

Salary and Merit Review

Salary and merit review

Are you dreading the end-of-the-year salary and comp review - a daunting task that haunts you cyclically? Pulling together all the salary and market data, assessing performance, productivity, engagement, and determining all sorts of bonuses and raises across myriads of positions, departments, divisions, and countries while adhering to local policies and guidelines can be overwhelming. Imagine that it all could be automated and managed in real time. All the information in one place linked to market data for competitive benchmarking. Transparent yet secure, accessible yet trackable.

Let us help you optimize the salary review so that you can focus on the creative aspects instead of getting sidetracked by the technicalities of the process!

Sales Incentives Plan

Sales incentive plan (SIP)

Calculating periodically the payouts for your employee’s sales incentive plans - is there something more daunting? Quotas, achievement rates, payout curves, targets, sales information… are you still tracking it all in Excel?

Software solutions we implement help you eliminate the burden of these complex multi-level calculations beyond mere computation. Benefit from real-time performance and sales reporting, use advanced analytics to simulate different scenarios and finish everything right on time, knowing it’s been correctly calculated so that your salespeople focus on selling instead of disputing their statements.

Choose the right solution for your particular sales incentive plan!

Bonus Management

Bonus management

We will help you set up, define, simulate, and calculate all types of bonuses at your company. Optimize your processes with controlled bugdeting, compute merit-based recognition bonuses, track metrics for performance awards, and automate the management of all sorts of one-time or cyclical awards across your departments and divisions. Provide your employees with personalized reports, and corporate and regulatory guidelines based on the country of operation for clear and transparent rewarding practices.

Don’t let the lack of technology limit you in the creative and attractive bonus design and implementation!

Budgeting

Budgeting and planning

Changes in headcount, compensation policies and currency exchange rates make compensation management at times difficult. Our consultants will help you choose solutions that integrate planning, forecasting, and budgeting processes across various divisions, countries, and currencies. You’ll easily manage the current staff costs, know when you are reaching the budget, and be able to plan and forecast future scenarios based on past, current, and projected data. And you’ll always have fresh and accurate data ready to submit to the Finance Department.

Make informed choices based on data-driven predictions, not assumptions!

Equal Pay

Equal pay

How do you make sure you don’t have any pay gaps? How do you remedy the identified ones? The software we implement lets you analyze in detail the compensation across gender, race, age, job grade, performance, tenure, and location. You’ll create comparator peer groups, benchmark your employee data both internally and against external markets, identify the outliers, and benefit from AI, which can help you find the root cause of pay differences, create remedial budgets, and predict and prevent future gaps. Our consultants will show you that ensuring fair and compliant compensation is easy!

Identify risks before they are problems, and keep your employees happy with pay equity!

Individual compensation planning and reporting

Individual compensation planning and reporting

Software solutions we implement allow you to take a holistic view of an employee through the compensation history, performance, and benchmarking so that you can create a personalized motivational plan to align the particular individuals with your company’s strategic objectives. Take advantage of the AI-backed recommendations based on targets that you can modify and come prepared to any compensation discussions.

I want automated reporting and compensation planning.

Job architecture and benchmarking

Job architecture and benchmarking

With modern compensation management software, you’ll no longer need to rely on external consultants to set up job architecture. The solutions we implement let you easily upload and analyze data from various benchmarking sources so that you can arrange the position structure, group data for pay analysis, and prepare the payscale yourself! And that will take you a couple of days, not months. Next, you simply set up the parameters for comparator groups and you can benchmark internally and to external markets with ease.

Avoid the hassle of hiring external consultants and save months by setting up job architecture in the professional compensation software!

What is Compensation Management?

Compensation management focuses on structuring and determining the appropriate pay and employee benefits in order to attract and retain your workforce. It's a critical domain for talent management in today's competitive market. Progressive compensation managers skillfully use direct and indirect compensation, such as health insurance, profit sharing, retirement benefits, wellness incentive programs, and other fringe benefits, to encourage employee motivation and keep them engaged.

Compensation management processes require the analysis of large sets of data across multiple profiles, positions, departments, and regions to:

  • determine fair direct compensation and employee salaries and bonuses
  • calculate fixed and variable pay
  • track the performance and evaluate the employee
  • determine pay equity and identify any possible pay gaps
  • assure legal compliance with company guidelines and local governmental policies
  • boost employee retention and attract new talent
  • control budgeting and plan the compensation management program accordingly

Effective compensation management plays a crucial role in determining a company's success. An appreciated and engaged workforce won't hesitate to give back through increased performance and a positive atmosphere that benefits both the employer and the employees.

Compensation management

What our clients are saying:

Excellent services!

GGS IT Consulting team has been working with LocalTapiola-group HR Sales Compensation team from early 2019 and has been providing Sales Compensation process design, solution architecture, data integration and implementation services. I am confident about the services of GGS IT Consulting team and I can surely recommend the services.

Jari Collan
Director Compensation and Benefits

Highly recommendable!

GGS IT Consulting has supported E.ON in setting up and running the LTI of the compensation and benefits application. We've got to know them as a very professional, proactive, and trusted partner who always delivers on their promise. They are not only technically very capable, but also understand the business context. We are very satisfied with GGS IT Consulting and I highly recommend them.

Juan Brea Piket
Head of Reward&Global Mobility E.ON SE

Great experience

After several months of cooperation in the area of process automation and data, we can confirm that GGS is a professional IT company, helpful in managing our Business Process Automation Platform. GGS team is efficient and reliable, always ready to offer support, and we can recommend them as a business partner.

Michał Gulewicz
IT Manager at Saint-Gobain

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Our Partners:

Why choose GGS IT Consulting?

01
Years of Experience. We have worked with 30+ clients across the globe and digitized 200+ processes with a 100% project success implementation rate. Our clients saved over 300 000+ hours of repetitive work.
02
International Projects. OUr clients come from Europe, the Americas, Asia. Many of them are repeat customers. We'll make it easy working across different time-zones and cultures.
03
Differentiated Client Profiles. We work with a whole range of customers, from medium to enterprise-size companies. We'll advise you on solutions tailored to your current stage, size, and strategy.
04
Unique Approach. At GGS we believe in efficient project management. We leverage collaboration, excellent communication, constant focus on business value, and attention to service quality to anticipate our client's needs and exceed their expectations.
45
Enterprise scale projects delivered
100%
Project implementation success rate
300 000+
Hours saved for our clients
550 000+
Employees benefitted from our software implementation services

Compensation management software consulting FAQ

When can we start with compensation management software consulting?

Any time is good to start the compensation management software consulting. Whether you are considering a new implementation, thinking of re-implementation, or just optimization of the current processes, we are ready to help at any stage. We can work with your compensation calendar to accommodate your timeliness. Just contact us and tell us about your project.

How much do your consulting services cost?

Each project is unique, and therefore, it deserves a uniquely tailored approach. Our team will help you select the most cost-effective option based on your particular needs.

In general, we observed that the cost of not having the professional software solutions is larger than the cost of the system’s implementation and support. Think about the cost of new hirers needed to replace unsatisfied employees, going overbudget, the costly mistakes easy to make in a spreadsheet, or data leakage and the risk of associated lawsuits.

Contact us and we'll discuss the most cost effective option for your company.

How long does it take to implement compensation management software?

Each project is different and depends on the company size, the scale and complexity of the project as well as selected services. Typically, it takes around a month to a couple of months for our team to finish the implementation.

My processes are very unique, will you be able to help me?

The software solutions we implement are highly customizable. Tell us about your situation - we’re up for the challenge!

Is this software difficult to use?

We only implement modern and professional software solutions. These systems are designed to be user-friendly and intuitional. Each system also comes with a set of trainings and our company provides continued support in the post-implementation phase.

Is this software secure and compliant?

We only implement systems with the highest security standards. Our consultants advise best options for cloud data hosts, their locations, and backup choices as well as access hierarchies and permissions.

GGS IT and our partners are ISO and SOC-compliant, and the software we implement also adheres to GDPR standards.

Is my company too small for this project?

The professional compensation management software is designed to manage the more complex processes usually found at the middle to enterprise-size companies. If you are not sure whether that applies to your case, contact us and during a 15 minute conversation we'll tell you if implementation of such software at your company makes sense.

Talk to our experts

Lets work togetherMateusz TajakBusiness Development Manager
+48 511 986 775

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