CompXL Review

HCR
Product:
Vendor:
Founded:
Headquarters:
CompXL
HCR
2006
Jacksonville, FL
Ownership:
Customers:
Deployment Model:
Free Trial:
Private
110
Cloud, On-Premise
No
Download Comparison Guide

CompXL At A Glance

Good: Flexible software configuration with Excel templates, sole focus is on compensation management instead of talent management, service-oriented model that aims to be highly responsive to clients.
Bad: Out of the box configuration is not offered, pre-built integration is only currently offered with ADP Workforce Now.
Bottom Line: Flexible compensation planning solution that's designed to handle complex scenarios and requirements.

Product Overview

CompXL is a compensation planning solution that automates the salary planning review cycle, approval workflow and related reports, including compensation and total rewards statements. It’s designed with the compensation professional in mind, and it uses Excel templates to create uniquely flexible solutions that address the most complex scenarios.

Many features can be configured, such as business rules, data validation, formulas, modeling and visual warnings regarding budget guidelines. In addition, the plug-in architecture allows for custom pages to support complex budgeting requirements.

CompXL also has a workflow engine for collecting approvals from managers and executives on merit increases, budget planning, bonuses and more.

Features

CompXL has four modules that can be purchased individually or together as a single suite. Here’s a general overview of each module:

Merit – The merit module can be customized to fit an organization’s performance review cycles. Administrators can set up workflows and rules to streamline approvals and other tasks. Managers can determine merit increases for their employees based on the company’s budget, and global managers can set merits based on their local currency. There’s also a customizable salary adjustment letter template for managers.

Bonus – Administrators can set their bonus schedules at monthly, quarterly or annual intervals. They can calculate bonuses based on a number of factors, such as company budget, department goals or an employee’s individual contribution. Bonuses can also be targeted by business unit or department. Administrators can manage prorated bonuses or even split them, and they’re also able to make changes on the fly.

Equity – With the equity module, companies can plan and track their equity compensation processes. It stores all data that’s typically housed in multiple systems, so companies can keep up with tax changes and stay in compliance. The module also has a dedicated portal for employees to access supporting documentation, view equity statements and sign agreements.

Reward – Using the reward module, companies can track their benefits and rewards programs, and communicate the information to their employees. Employees can download the CompXL mobile app to receive reward notifications and access the directory of benefit providers. Companies can monitor employee reward usage and send customized messages to specific groups.

Target Market

CompXL services a large variety of industries, such as manufacturing, financial services, retail, technology and pharmaceuticals.

Its solution isn’t industry specific, but it’s best known for the ability to handle complex compensation planning scenarios, including multifactor incentive planning, as well as equity planning and tracking. CompXL mainly caters to mid-market organizations with a global presence.

We’ve listed 10 of CompXL’s customers below.

  • Acadian Asset Management
  • Brookline Bancorp
  • Cabot Corp.
  • Chili's/Maggiano's (Brinker International)
  • E&J Gallo
  • Franklin Square Holdings
  • Harbor Freight
  • Natixis
  • Noven Pharmaceuticals
  • Stanley Black & Decker

Download Now: Talent Management Software Buyer's Guide

Choosing an Talent Management Solution is all about finding the right fit. Our report will walk you through the process and help you make a smart purchasing decision. Download Now

Implementation/Integration

HCR can configure CompXL to meet companies’ specific requirements because of its flexible technology platform. The implementation begins with a current state exploration (design phase). Then, the professional service team will educate the new client about process improvements that are possible with the technology.

The outcome of this dialogue is a prototype (configuration phase) planning workbook, which combines the client’s current state and any possible advancements via CompXL. Further discovery involves data mapping (in/out) and reporting needs.

CompXL is a software agnostic tool, so data can be imported and exported through flat file transfers from any data source. Finally, admin training and system configuration validation (testing phase) will occur prior to training and go live.

Customer Service & Support

HCR’s professional services team assigns named account managers to each client so they can communicate with someone that’s familiar with their needs and processes. Its services team members are highly responsive, and they’re considerate of the urgency that comes with active planning cycles.

Because CompXL isn’t a talent management software suite, the vendor has a service-oriented model that’s familiar with the distinct needs and priorities of compensation professionals. HCR Software received one of the highest Net Promoter Scores (NPS) in the industry compared to similar compensation planning vendors because of its level of customer service and expertise.

Pricing

Annual fee pricing is based on the number of total employees, and professional service fees may also apply for advanced configuration services.

Pricing information isn’t publicly available, so contact HCR Software directly for a quote.

Shortcomings

CompXL doesn’t offer an out of the box configuration for planning templates or reports. Because the software is configurable, it’s provided as a platform-as-a-service that requires professional service hours to tailor to the client’s specific needs. CompXL may not be beneficial for clients that are looking for a fixed annual fee compensation solution that they can just turn on and use. But it may be the right solution for clients that have kept their compensation planning in Excel because they don’t want to compromise their flexibility in designing compensation plans.

CompXL utilizes flat file data load and extract and has not published API’s for easy integration with other providers. Currently, its only pre-built integration is with ADP Workforce Now.

In addition, the manager planning experience is very data rich and isn’t particularly pleasant on a mobile device.

Screenshots

HCR Screenshot 1
HCR Screenshot 2
HCR Screenshot 3

About

Founded in 2006 and headquartered in Jacksonville, FL, HCR Software Solutions, Inc. (HCR) is a privately held niche provider of compensation planning solutions for mid-to-large size companies. It started as an HR services firm that helped companies optimize their core HR systems like ADP, PeopleSoft and others.

HCR Software works as if it’s a business partner with its clients because it recognizes that their compensation management teams need process automation due to short staffing and compressed timeframes for planning processes.

Download Vendor Comparison Guide
Send feedback or corrections to feedback@betterbuys.com.

Related Solutions






User Reviews

  • User Rating
  • No Rating Yet!
  • 0%
  • (0) No reviews yet!

No Rating Yet!

0%

  • Features
    User: 0%
  • Ease of Use
    User: 0%
  • Ease of Implementation
    User: 0%
  • Support
    User: 0%


No one has rated this yet, be the first! No one has rated this yet, be the first!



Write a Review

*