Beqom continues acquisition spree to bolster growth

The global movement toward workplace equality has made it imperative for organizations to address wage gap challenges head on, for both competitive and regulatory reasons. beqom's acquisition of 2016-founded company PayAnalytics means that companies can now embed pay equity into their compensation processes and daily decision-making, to create a culture of fair pay, build on a data-driven compensation strategy, and meet global pay equity regulatory requirements. The acquisition positions beqom uniquely in the market as provider of the most complete advanced total compensation and pay equity solution.

The PayAnalytics solution, designed by a team of data scientists and HR leaders, empowers companies to analyze pay for gender and other forms of demographic fairness, and take appropriate action. Through multivariate regression analysis, it identifies factors influencing pay and proposes remedies for unexplained pay gaps. By delivering these advanced analytic capabilities in the context of a plug-and-play pay equity methodology, PayAnalytics will add the capability to embed instant and always-on pay equity into the real-time compensation processes managed by beqom, supporting data-driven pay decisions for new hires, merit increases, and promotions. beqom's compensation modelling optimizes the budget impact for pay equity remediation scenarios. Together, the solutions will provide companies with unprecedented abilities to attract and retain talent, drive performance, and optimize costs, while ensuring compliance and reducing risk.

"Pay equity is no longer a niche area. It's a business essential, and the focus must go well beyond compliance and risk. Our in-depth research shows that companies that excel in pay equity have higher profitability, greater customer satisfaction, innovate better, and win the war for talent," says Kathi Enderes, Senior Vice President of Research and Global Industry Analyst at The Josh Bersin Company. "Done right, pay equity is not a once-a-year project but a way to run the company for equity. The right technology is vital because it's a complex undertaking. Combining the advanced pay equity capabilities of PayAnalytics with beqom's total compensation platform means that companies can embed a consistent and continuous focus on fair pay in their entire talent lifecycle, helping make their rewards function systemic and accomplishing higher rewards maturity."

Customers can expect business as usual while having the possibility of benefiting from the expanded range of solution capabilities. Both companies are committed to maintaining the high level of service expected by their customers while offering them broader and deeper functionality and expertise in compensation and pay equity management. Each will continue to drive product innovation in their respective domains while tightening the integration between the two product suites.

"What distinguished the PayAnalytics solution and team for us was their specialized expertise and sophisticated data approach enabled by a great product. Additionally, the company's headquarters in Iceland places them strategically with a global perspective, straddling both the EU and the US. This unique positioning gives PayAnalytics an inherently global DNA and mindset, a distinction that beqom, headquartered in Switzerland, can appreciate firsthand," says Fabio Ronga, beqom CEO and co-founder. "Consequently, PayAnalytics exhibits a deep understanding and proven experience in navigating the complexities of global enterprises dealing with diverse local regulations. These factors serve as key differentiators that set the solution apart from others in the market. We look forward to working with the whole team on keeping PayAnalytics at the forefront of pay equity software solutions and to bring that expertise to beqom's customers."

(Press release)