Spend less on compensation planning with CompensationXL #WebToolsWiki

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CompensationXL
Web-based software for automating the compensation planning process. Maximize your pay-for-performance spending to engage employees on the right corporate goals. Reduce administrative labor associated with creating budget workbooks, distributing them to managers, auditing them when they return, and rolling them up to create summary reporting. CompensationXL will automate your process, with your formulas and data points, and will supply your team with standard and custom reports. The solution is flexible, affordable, secure, and scaleable. You can have compensation software your way, with CompensationXL. Integrates with any HRMS including ADP, Ceridian, Peoplesoft, SAP, and more.

Not so long ago companies would have to look to home-grown software to handle their specific compensation needs. But home-grown software tends to be expensive to create and tedious to maintain. For many HR departments it wasn’t even a matter of the cost of home-grown software; the IT department simply didn’t have the resources to take on this kind of project for HR. But outside vendors now have off-the-shelf software sufficiently flexible to handle the compensation systems of most companies. HR finally has options.

The key advantage of the new wave of compensation software is that it creates a secure infrastructure that automates the distribution and collection of compensation information. The workflow, including the chain of the approval process, can now be handled by the software. Uniquely, in the case of HCR Software, managers and HR are able to continue using their familiar spreadsheets; which are embedded within a web-based application which solves the administrative and error issues presented by standalone spreadsheets.

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