With the majority of our customers implementing complex compensation plans in an ever changing environment, the additional flexibility and the new features in 4.5 offer customers even more granular control over their compensation management process
Chicago, IL (PRWEB) October 4, 2006
Nuvosoft ® Inc., a pioneer in Web-based compensation management software, announces the availability of a new version of Rcomp®. With Rcomp’s flexible and easy-to-configure software platform, customers gain even greater choice over how they want to design and automate their compensation management programs.
Rcomp 4.5 expands the product’s flexibility and adds new features that allow customers to respond to changes in their compensation programs in real-time. For many customers, compensation plans are very dynamic and being able to change the business rules after the software has been installed is a time and money-saving feature.
“With the majority of our customers implementing complex compensation plans in an ever changing environment, the additional flexibility and the new features in 4.5 offer customers even more granular control over their compensation management process,” said France Lampron, president and CEO of Nuvosoft, Inc.
In addition to the expanded configuration options Rcomp 4.5 other new features include:
o An enhanced Rules engine that offers more flexibility in determining eligibility, assigning incentive plans, allocating budget pools, etc.;
o An enhanced Budget Pools and Funding engine providing more flexibility in designating pools as well as funding them. A number of funding options have been added including fund on target payout and/or discretionary targets;
o And a new Roles and Access Assignment feature providing Compensation with the ability to fine-tune various roles having access to Rcomp as well as the ability to identify exactly which Rcomp features the role may access according to Rcomp’s calendar.
More about Rcomp
Rcomp is full-featured Web-based compensation management software providing access to the information necessary to make the best possible recommendations for salary increases and short-term and long-term incentive awards including support for multiple currencies. Through a password protected, role-based security system, managers can view only the employees that directly or indirectly report to them. While Compensation is able to view all the employee recommendations, Rcomp’s security is designed to provide secured proxy access to HR and Finance executives, HR Managers and other appropriate executives. This proxy-level security ensures an employee’s privacy while providing information to the appropriate executive staff.
Complex Incentive Plans
Rcomp offers flexibility in its configuration settings to make it easy for Compensation to plan and control complex incentive plans. For example, incentive plans may apply to a very specific group within the organization and be based on a number of financial results and individual objectives that are rolled up to various levels within the organization. Rcomp is easily configured to dynamically support these rules whether based on performance ratings, functional level within the organization, geographic location, teams for plan assignment, company overall performance or an unlimited number of measures on the plan calculation side.
Executive Reporting Features
An Executive Dashboard presents real-time compensation scorecard information in real-time through an intuitive graphical interface. This tool provides the ability to quickly view a compensation analysis of recommendations against budget, examine the distributions of performance ratings across the company, division, or business unit, see the status of different managers, or other types of compensation information either alone or by comparison.
Rwiz® Reporting Tool Fully Integrated
Nuvosoft’s powerful Rwiz reporting tool is fully integrated into Rcomp enabling Compensation to create reports that can be published to the Web and run by managers, HR managers, and Compensation. By publishing these reports on the Web, the management team can run, sort, recall results from a previous run and display reports by categories. With the visualization and graphics features of Rwiz, Compensation and HRIS are able to provide customers with a quick understanding of data.
Rcomp 4.5 is available today. For more information about Rcomp contact Gin O’Leary at Nuvosoft at 877-525-2010 or gin_oleary(at)nuvosoft.com.
Nuvosoft’s HR functional experts and software architects implement technology that streamlines business processes to improve a company’s operations and positively impact its bottom line. Through its Rcomp®, Rperformance™, Rbenefits®, Rwiz® products and consulting engagements, Nuvosoft customers are empowered to derive the maximum information and benefits from their HR systems.
Copyright 2006 Nuvosoft, Inc. All rights reserved. Rcomp, Rperformance, Rbenefits, Rwiz and Nuvosoft are trademarks or registered trademarks of Nuvosoft, Inc.
Press Contact: Pat Arcand, Arcand & Madison, Ph: 617-576-7777, email: pat(at)am-pr.com.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.