Waltham, MA (February 23,2005) Nuvosoft ® Inc., a pioneer in Web-based compensation planning, announces a major upgrade to Rcomp®, its secure, automated, online compensation planning product. Rcomp 3.0 now supports HR rules for more complex incentive plans and offers a new executive dashboard and a fully integrated reporting tool to offer compensation and managers with real-time insight into the planning process. The new features raise a company’s ability to use Compensation as a strategic process that drives better corporate decision-making.
Rcomp 3.0 offers new flexibility in its configuration settings to make it even easier for Compensation to plan and control complex incentive plans. For example, each compensation plan within a company has its own set of rules and Rcomp is easily configured to dynamically support these rules whether based on performance ratings, ratings within quartiles, or general ranges across compensation plans. This allows Compensation to customize the planning process to assist managers while maintaining compensation equity.
“Compensation planning is becoming very complex within organizations and solutions that offer flexibility are key to driving this important process,” said James Holincheck, Research Director at Gartner. “HR organizations are demanding applications that take the pain out of automating compensation planning.”
“Over 50% of our customers, whether in mid-sized companies or divisions of large organizations, have been tasked with implementing complex compensation plans,” said France Lampron, President of Nuvosoft, Inc. “The new features of Rcomp 3.0 are specifically designed to support complex planning, modeling and the reporting necessary to provide Compensation with the easiest methods for replicating and enhancing their current systems.”
Executive Reporting Features
A new Executive Dashboard presents real-time compensation benchmark information in an intuitive graphical interface. For a President, CEO or VP, 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. The Executive Dashboard, like the entire Rcomp application is dynamic, capable of rolling up totals at any reporting level within the organization in real-time.
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. In viewing reports, users can filter a report, hide a field, or sort on a different column. With the visualization and graphics features of Rwiz, Compensation and HRIS are able to provide customers with a quick understanding of data by delivering reports that are easily manipulated by the end user into their preferred presentation method.
Another new feature allows non-technical users to schedule Rcomp tasks. The ‘Manage Reports’ Option from the Administrative Reports menu, allows Compensation to manage a report schedule. This allows a report to be run once at a specific date and time, or to be run on a recurring basis such as every week at a specified date/time.
Other new features of Rcomp 3.0 include:
· A Budget Modeling tool allowing Compensation to run what-if scenarios and projection reports of budget impact
· The ability to define financial performance measures
· The ability to automate and tie financial results to incentive plans without any manual intervention
· The ability to pay incentive plans on a periodic basis (quarterly or otherwise) in addition to end-of-year payments
· The ability to automatically assign incentive plans to employees at the beginning of the year, upon hire, or as job changes affecting incentive plan eligibility occur
· The ability to define spending guidelines for any type of spending matrix
· The ability to easily flag employees on leave of absence, correction action, part-time, etc.
Rcomp 3.0 is available today and pricing starts at $85,000 USD. For more information contact Nuvosoft at www.nuvosoft.com <http://www.nuvosoft.com> or (877) 525-2010.
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 Rwiz and Rcomp products, and consulting engagements, Nuvosoft customers are empowered to derive the maximum information and benefits from their ERP systems.
Copyright 2005 Nuvosoft, Inc. All rights reserved. Nuvosoft, Rcomp and Rwiz are registered trademarks of Nuvosoft, Inc.