Incentive Compensation Software
If your compensation module isn’t flexible enough to support the incentive plans that business leaders want to implement, then you may encounter scenarios where you have to choose between agility and sanity.
What if you could support complex incentive structures without being buried alive in short term incentive plan spreadsheets? What if you had a multi-factor bonus solution that let you allocate your incentive pools in exactly the ways you need?
If you want to consistently say ‘yes’ to innovative incentive plans without drowning in spreadsheets, you need agile incentive compensation software.
Plan Your Schedule
You need incentive compensation software that helps you plan according to your schedule. BONUS features pool-based budgets, manager discretion, position-based proration, and more. You can import and store key business metrics that can be used to establish the overall pool and calculate recommended bonus amounts based on individual contributions. Include scheduled data feeds to support unit-driven calculations for commissions and multi-factor bonuses. No matter the timing of incentive administration, BONUS can support even your most complex bonus planning and reporting needs.
Multi-factor Bonus calculation
When we designed BONUS, we included flexible data import and storage capabilities so that no matter the industry, no matter the size, no matter the metric, we can say “Yes, we can support that requirement.” If your incentive designs have ever been limited based on your compensation program, industry, size, or geographic scope, it’s time to put that in the past with the agility of BONUS.
MORE EFFICIENT THAN EXCEL
Excel’s flexibility is rooted in its free-form data structures and its powerful formula support. When you bring your spreadsheets to BONUS by CompXL, you keep your pay-for-performance formulas, data validation rules, eligibility, and proration formulas. The only thing you lose is the manual labor, late nights, and working weekends. BONUS eliminates the hate in your love/hate relationship with Excel.
When employees move positions within the organization, the downstream impacts to incentive planning can be messy to manually administer. In BONUS, we configure the software to match your requirements. Then, each time the foundation data is refreshed the calculations are automatically handled by the software so you can focus on higher-value tasks.
Targeted incentive compensation
Why suffer from rigidity in your planning processes? Your short-term incentives, long-term incentives, spot awards, and more can be designed and implemented by department, division, or unit. There’s no reason to limit your incentive strategy anywhere in your company with the granular controls and flexibility of BONUS.
on the fly changes – because things happen
Flexibility in incentive design demands agility in administration. Each system administrator in CompXL has the keys to a powerful set of tools capable of changing virtually anything about the open cycle. RIF during an open cycle? No problem. Bonus Pool holdback change two days prior to the planning cycle? Easy. Change in incentive eligibility for a position classification across the entire organization? Two clicks. BONUS puts you in control.
BONUS is the add-on incentive compensation software you’ve been dreaming of: an affordable compensation module with both the flexibility of an Excel formula engine and the scalability and efficiency of cloud software.
CompXL’s BONUS allocation software helps you achieve your targeted business outcomes. Schedule your consultation to find out how!