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CompXL is a compensation management software that has been received favorably by its users. The tool has helped organizations streamline …
Overview
What is CompXL?
CompXL is a compensation planning suite from the software company HCR Software, Inc. CompXL provides customizable configurations and supports aspects of compensation such as merit, bonus, equity, and rewards.
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What is CompXL?
CompXL is a compensation planning suite from the software company HCR Software, Inc. CompXL provides customizable configurations and supports aspects of compensation such as merit, bonus, equity, and rewards.
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- Tech Details
What is CompXL?
CompXL is a compensation management software suite aimed at mid-to-large size businesses. CompXL aims to provide numerous features to streamline the compensation management process across the organization, including the ability to manage all compensations in one place, support for multi-currency plans, and rule enforcement for compensation changes.
CompXL's product focuses on four main areas: Merit, Bonus, Equity, and Rewards. Merit aims to align compensation changes with personal and organizational performance. Bonus seeks to provide flexible incentive structures that provide optimal motivation to your team. Equity aims to monitor tax and regulatory environments to effectively deploy equity compensation. Finally, Rewards seeks to emphasize the total value of employee compensation to the workforce, such as health benefits.
CompXL's product focuses on four main areas: Merit, Bonus, Equity, and Rewards. Merit aims to align compensation changes with personal and organizational performance. Bonus seeks to provide flexible incentive structures that provide optimal motivation to your team. Equity aims to monitor tax and regulatory environments to effectively deploy equity compensation. Finally, Rewards seeks to emphasize the total value of employee compensation to the workforce, such as health benefits.
CompXL Features
- Supported: Agile Compensation Management
- Supported: Multi-currency support
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CompXL Integrations
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CompXL Technical Details
| Deployment Types | On-premise, Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Windows, Mac |
| Mobile Application | Apple iOS, Android, Windows Phone, Blackberry, Mobile Web |
| Supported Countries | All |
| Supported Languages | English |
CompXL Customer Size Distribution
| Consumers | 0% |
|---|---|
| Small Businesses (1-50 employees) | 0% |
| Mid-Size Companies (51-500 employees) | 50% |
| Enterprises (more than 500 employees) | 50% |
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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!
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- Recommendations
CompXL is a compensation management software that has been received favorably by its users. The tool has helped organizations streamline their compensation year-end processes while improving security and flexibility. CompXL replaces the manual, time-consuming salary planning process, automating it to allow for easy distribution and ensuring proper approvals are in place.
The tool's customizable nature means that it caters to specific business requests and provides an abundance of data, making it easier for business leaders to make informed decisions. With CompXL, organizations no longer have to manage excel documents back and forth or track different versions as the system centralizes all data securely. The ease of reporting is also a huge benefit, allowing for quick generation of benefits statements and other reports. With CompXL, organizations can make global calibrations and consolidate reviews at the executive level effectively, saving labor hours on payroll tasks while ensuring precise merit increment processes and effective incentive distributions.
Based on user recommendations, CompXL receives the following common recommendations:
Consider customization and unique incentive plans. Users recommend CompXL for organizations with customizations or unique incentive plans. They find it suitable for designing compensation processes that meet their specific needs.
Take advantage of reasonable pricing and support. Users suggest trying CompXL due to its reasonable price and readily available support. They also emphasize making use of the support if any issues arise during implementation or usage.
Focus on simplicity and ease of integration. Users highlight the importance of keeping it simple when initially implementing CompXL and suggest working closely with the internal IT team for integrations. They recommend engaging IT for installation and configuration, as well as including target participants early for User Acceptance Testing (UAT) and documenting the process.
Overall, users find CompXL to be a valuable tool with great service, flexibility, and cost-effectiveness. It is seen as a reliable solution for salary planning, bonus management, long-term incentive awards, and employee total reward statement activities. The highly configurable fields, business rules, and formulas outweigh any perceived drawbacks in terms of visual appeal in analytics and reports. In addition, users appreciate the helpfulness of the implementation team in understanding their needs and designing the system accordingly.