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CompTrak is a powerful tool that helps businesses with their compensation management needs. It replaces the use of Excel, providing …
Overview
What is CompTrak?
CompTrak's single platform is designed to bring simplicity, visibility and security to all aspects of a compensation program. As a comprehensive compensation management solution, CompTrak transforms the way variable incentive, merit review and equity plans are managed. In a single…
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What is CompTrak?
CompTrak's single platform is designed to bring simplicity, visibility and security to all aspects of a compensation program. As a comprehensive compensation management solution, CompTrak transforms the way variable incentive, merit review and equity plans are managed. In a single enterprise…
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Product Demos
Eliminate Spreadsheets From Your Year-end Bonus Cycle | CompTrak
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Product Details
- About
- Competitors
- Tech Details
What is CompTrak?
CompTrak's single platform is designed to bring simplicity, visibility and security to all aspects of a compensation program. As a comprehensive compensation management solution, CompTrak transforms the way variable incentive, merit review and equity plans are managed. In a single enterprise platform, CompTrak allows companies to innovate, customize, manage multiple compensation plans globally and ensure they are linked to corporate strategic goals while eliminating the need for manual processes, spreadsheets and dependency on legacy systems. CompTrak looks to optimize how organizations engage employees and leverage all the various components of compensation as levers for mutual value.
CompTrak is made up of three core products:
Compensation Management simplifies your entire compensation cycle. From plan design, management and modelling to leader inputs and delivering Total Rewards statements, we provide automation, workflows, proactive notification system and integrated globalized reporting.
Equity Plan Management simplifies LTIP and equity plan management even in the most complex scenarios. We manage, track and control variable deferrals, vesting periods and help to report and manage to regional compliance requirements.
Total Rewards Statements are dynamic, personalized statements that are mobile responsive. Our statements Include often missed variables such as retirement contributions, healthcare benefits, insurance premiums, allowances, discounts and tuition reimbursement.
CompTrak Screenshots
CompTrak Competitors
- Shareworks, by Morgan Stanley
- beqom
- CompLogix Compensation Management Software
- Certent Equity Compensation Management (formerly EASi)
CompTrak Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
CompTrak is a powerful tool that helps businesses with their compensation management needs. It replaces the use of Excel, providing enhanced reporting capabilities and enabling users to manage bonus payouts effectively. With CompTrak, businesses can track and understand their performance management gap, giving them a clear understanding of how much they need to improve.
The customization potential of CompTrak has been winning over a lot of business users. With a significant portion of the overall compensation pool being handled by this tool, it solves unique problems that other compensation tools do not. Users can expect an experience that evolves every year to bring positive end-user feedback. Additionally, it supports promotion and annual compensation review processes, making complex and extensive processes easy to handle by providing real-time data updates and auditing capabilities that are crucial in keeping up with newly introduced equity programs for employees. Its audit and security features are particularly helpful in distributing LTI and implementing complex compensation tools within a very short period.
Flexible Implementation: Users appreciated the flexible and accommodating nature of CompTrak team members during implementation. Reviewers were impressed by the thoroughness and agility of the team, which allowed them to handle nuanced employee investment programs with ease. Several users found CompTrak's system safer and easier to query than their previous Excel-based system.
Intuitive User Experience: Both users and reviewers praised CompTrak for its user-friendly interface, appealing appearance, well-organized screens, real-time updates, and comprehensive functionality. Many reviewers noted that the system did not require extensive training for business users once it was set up.
Great Customer Service: Users and reviewers alike highlighted CompTrak's great customer service, flexibility, willingness to accommodate requests, quick response times to questions/queries. The knowledgeable and supportive team helped ensure a quality process throughout implementation while creating manual or automated workarounds as needed.
Limited customization options: Some users have mentioned that they were unable to customize colors and fonts according to their branding needs.
Challenging reporting feature: According to a few reviewers, the reporting feature takes some time to get used to and sometimes requires back and forth communication with the CompTrak team to get the reporting where they want it.
Implementation process could be better: Some users felt that although they were working with tight timelines, the implementation process of CompTrak could have been smoother.