FinTech Awards 2020

Wealth & Finance International - FinTech Awards 2020 APR2w2 CompTrak is changing the way that organizations view and manage compensation. With talent management and compensation becoming more important to the success of an organisation, CompTrak brings transparency and visibility to the efficacy of compensation. With rich analytics, the incorporation of 3rd party data and proactive, data- driven notifications, CompTrak is transforming one of the largest line cost items. Gain insight on how to be more competitive and retain the best talent, while reducing the cost to manage multidimensional compensation programs. Believing that a company should not change its compensation plans to meet the structure of a platform, CompTrak built its offerings around the idea that a platform should conform to the unique aspects of each organization. Suitable for mid-to- large global enterprises across all industries, there is no limitation to how far and wide CompTrak can take its solution. Businesses all over the world can benefit from a platform that be moulded to their unique compensation solutions. The firm’s compensation management solution first got its start in financial services, as it was initially built by experts from the field of compensation. As such, CompTrak understands the complexities and nuances that come with managing compensation across global financial services organizations. At the heart of CompTrak’s success is the product management team, which drives the product roadmap development through primary and secondary research sources. The team curates customer feedback through focused interviews, surveys, quarterly and annual business reviews, as well as by engaging in market research. With a partner channel that largely consists of advisory firms, independent compensation consultants, and boutique compensation firms, there are regular roundtables that guide the direction of the product strategy for CompTrak. By working with so many different firms and industries, CompTrak’s clientele includes global banks and financial services firms that are headquartered in Canada, USA, and Europe, bringing international insight to the product management team. CompTrak’s compensation management platform addresses modern challenges and opportunities in compensation the same way Salesforce modernized sales process and CRM over a decade ago. By not only looking at the redundant, arduous and risky- mechanics of a typical compensation cycle, but also the inherent opportunities that are presented by digital technologies in better connecting compensation to the DNA of an organization. CompTrak created a platform that eliminates 100’s of processing hours, better protects personal data andmore effectively engages employees to drive desired behaviour. With a single view of total compensation, executives can identify at risk individuals, make planning decisions, and quickly adjust compensation strategies. Following the firm’s success in this years’ FinTech Awards, we take a closer look at how they are transforming compensation management. Best Emerging Compensation Management Solution - North America When it comes to client service, CompTrak focuses on the most relevant and vital areas when it comes to providing the best possible service for its clients. The CompTrak platform architecture has been developed on the principle of a federated modular framework; a model which enables the firm to provide clients with the greatest flexibility in allowing them to adapt the platform to their unique compensation strategy. The beauty of the flexibility is that it still provides the client with the ability to scale and to have the ongoing benefits of an enterprise product. CompTrak’s team of professional compensation consultants ensure that every project is led by individuals who not only understand the platform, but also its many intricacies and complexities with regards to various compensation programs. Beyond the project, there is also support that is focused on clients’ unique organizational needs. CompTrak incorporates all aspects of compensation into one platform. The modular architecture means CompTrak May20106 the platform can conform to the unique aspects of any clients’ compensation program today, whilst also being able to evolve and adapt to where the program will be tomorrow. As innovative as it is helpful, this single platform gives clients valuable insight into the holistic view and effect of a compensation program. As it continues to add to its library of available modules whilst focusing on extending its strong international growth, CompTrak is one of the best compensation management solutions in North America today. Company: CompTrak Contact: Chris Jackson, VP Client Development Website: www.comptrak.com