Ventana Research today released its 2020 Value Index on Total Compensation Management, a quantified, research-based index evaluating technology providers and products. This Value Index assesses seven vendors’ products using our TCM blueprint, evaluating software in seven key categories that are weighted based on our expertise and research to reflect buyers’ needs. The structure of the Value Index reflects our understanding that proper evaluation involves far more than just examining product features, potential revenue or customers gained. We believe it is important to take this comprehensive research-based approach, since making the wrong choice of technology can raise the total cost of ownership, lower return on investment and hamper an organization’s ability to reach its performance potential.
Using the Value Index, businesses can mitigate risk and reduce the time it takes to assess and select workforce management software. Ventana Research's Value Indexes are the result of decades of experience and over 17 years of research and knowledge of the market for total compensation management software. It provides an in-depth analysis of technology suppliers' products, evaluating their strengths and gaps compared to competitors’ products.
The Value Index for Total Compensation Management is based on a comprehensive examination of seven vendors' products in seven evaluation categories, five that evaluate the products' ability to support the breadth and depth of business needs around TCM and two that address vendor validation and total cost of ownership/return on investment.
The 2020 Value Index for Total Compensation Management identifies the companies that deliver the highest value based on an overall weighted evaluation. The Overall Value Index Leaders in the 2020 Value Index are Oracle, Workday and PeopleFluent. Companies that rank in the top three in any category earn the designation Value Index Leader. Oracle has done so in six of the seven evaluation categories and Workday in five; SAP SuccessFactors is a Value Index Leader in four categories and PeopleFluent is a leader in three. The Value Index leaders for overall product across five categories are Oracle, Workday and SAP SuccessFactors. Leaders in customer assurance across two categories are beqom, PeopleFluent and Oracle. Criteria for inclusion in the Value Index include minimum annual revenue, geographic operations and product areas of support for total compensation management software, which are outlined in more detail within the report.
The Value Index is not just a listing of vendors or a selection of “cool” products; rather than evaluating a vendor primarily on its vision or market execution, the Value 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 also 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.
“Our research finds that, generally, total compensation software vendors are either aligning their products with traditional rewards approaches, which mostly focus on base salary and bonus opportunities, or with more sophisticated total rewards models, which include a variety of non-cash and longer-term incentives,” said Steve Goldberg, VP and Research Director at Ventana Research. “Going forward, we expect to see more vendors in this HCM solution category adding the necessary flexibility into their product to accommodate all viable approaches to total compensation management."
The Total Compensation Management Value Index 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 advisory services, benchmark assessments and workshops. 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 read the market report of the 2020 Value Index for Total Compensation Management, please visit https://www.ventanaresearch.com/value_index/hcm/total_compensation_management/market_report/2020.
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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