BEND, OR, November 29, 2016 /24-7PressRelease/
-- Ventana Research today released its 2016 Value Index for Total Compensation Management, the only quantified, research-based index evaluating technology vendors and products. The Total Compensation Management Value Index assesses software for compensation processes that support the role of an employee, manager, compensation administrator, human resources leader, finance and IT professionals for serving HR processes including recruiting, performance appraisal, budgeting and succession for both hourly and salary workers.
Using this Value Index, business and IT organizations -especially those in human resources and compensation - will be able to evaluate existing compensation management software and examine software vendors' offerings in the context of their own human capital management requirements. Ventana Research's Value Indexes are the products of more than two decades of experience in and knowledge of the market for human capital management market of applications and it provides an in-depth analyses of technology suppliers' products.
The Value Index for Total Compensation Management is based on a comprehensive examination of 9 vendors' products in seven evaluation categories, five that evaluate the products' ability to support the breadth and depth of compensation processes and two that address vendor validation and total cost of ownership/return on investment. The 2016 Value Index for Total Compensation Management finds that the companies that deliver the highest value, based on an overall weighted-evaluation, and are the overall Value Index Leaders are Oracle, PeopleFluent and SAP SuccessFactors followed by six vendors: Saba, Willis Towers Watson, beqom, HRsoft, Decusoft and Curo. Other vendors that are not included in this research were not willing to have their products thoroughly evaluated and thus are not included in the Value Index and should be questioned on their readiness to support the full range of compensation processes.
Each Value Index is the result of a detailed evaluation of the suitability-to-task of each offering's capabilities as well as the product's support of usability, manageability, reliability and adaptability. These aspects of the evaluation reflect how organizations conduct RFI/RFP; they are unique to the Value Index report and are not covered in depth by other analyst firms' ratings, which often include limited (or no) evaluation of actual products. IT analyst firms rank vendors from an IT-only perspective, Ventana Research has designed the Value Index to provide a balanced perspective of vendors and products that is rooted in an understanding of business drivers and needs. This approach not only reduces cost and time but also minimizes the risk of making a decision that is bad for the business. Using the Value Index will enable your organization to achieve the levels of efficiency and effectiveness needed to optimize mobile analytics and business intelligence.
The Value Index also assesses the effectiveness of each vendor's support for the buying process and customer assurance. The Value Index is not just a selection of "cool" products; rather than evaluating a vendor primarily on its vision or market execution, the Index provides specific numerical ratings, both overall and for each of the seven components of the Value Index, for technology buyers to consider. Organizations can use the Value Index as a guide to assess existing technology providers and determine if their provider best meets their needs today and in the future.
"The role of compensation is at the center of every organization and its important to the employee and for human resources and finance is to manage it effectively throughout a workers experience from hire to promotion," said Mark Smith, CEO and chief research officer of Ventana Research. "The stringent assessment in this Value Index research established a high level of assessment for an RFI / RFP and all vendors should be congratulated for their participation and completing the process. Organizations that are considering investments in compensation will find that this is the only market evaluation tool to determine the fit and readiness of vendors products."
This new Value Index is a fully independent, research-based undertaking. It is neither sponsored nor influenced by technology vendors and is conducted solely in pursuit of Ventana Research's mission to provide value to business and IT through benchmark assessments, workshops and advisory services. Ventana Research's goal is to help guide organizations to optimal efficiency in their use of technology investments for business and IT. To learn more and receive a complimentary copy of the 2016 Value Index for Total Compensation Management market report, please visit https://www.ventanaresearch.com/TCMValueIndex/
.About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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