beqom

beqom is a global provider of compensation management software, delivered using a cloud computing platform. beqom has its global headquarters in Nyon, Switzerland, with offices throughout North America and EMEA. Components of the software include functionality to manage sales incentives, bonuses, equity, merit pay, long term incentives and channel partner incentives.[1] Competitors include Xactly, Oracle, and SuccessFactors.

beqom
Private
IndustryHuman capital management software
FoundedFribourg, Switzerland
HeadquartersRue de la Colombière 28
Nyon
Switzerland
Key people
Fabio Ronga, CEO
ProductsCompensation management software
Sales performance management software
Number of employees
130
Websitehttp://www.beqom.com

History

beqom was founded as Excentive International in 2009, by software executives coming from Hyperion, OutlookSoft and SAP.[2][3]

The company gained notability in 2009 as one of the few HR software vendors offering a comprehensive compensation application.[4] That same year, the company began its worldwide expansion with the opening of its North American headquarters.[5]

On September 1, 2013, the company changed its name to beqom.[6]

The company has completed five funding rounds, starting with a $2.5 million seed round in 2009 and a $8.5 million venture round in 2011. In July 2014, Swisscom Ventures, the investing arm of Swisscom AG, and Renaissance PME, a Swiss pension investing fund managed by Swiss technology investor Vinci Capital, announced that it had completed a financing round with beqom of $10.6 million to help fund its international expansion efforts.[7] In July 2017, beqom raised a further $35 million from Goldman Sachs to reinforce its global presence, increase the direct sales force, and further develop indirect sales channels.[8] Altogether, beqom has raised a total of $59.6 million in funding.

In October 2019, beqom CEO Fabio Ronga was distinguished as the winner of the 2019 EY Entrepreneur Of The Year award.[9]

Products and Services

beqom provides a Software as a Service (SaaS) solution, using Microsoft Azure,[10] for enterprise compensation. It addresses performance and compensation aspects such as salary review, bonus, long-term incentives, commissions, benefits, and non-cash rewards.

The company estimates it has approximately 100 user firms. Some of the large, multinational companies that have publicly disclosed contracts or deployments of beqom include PepsiCo,[11] Daimler,[12] Syngenta,[13] DPDHL,[14] and Capgemini.[14]

In January 2019 beqom was named a "Challenger" in the Gartner Magic Quadrant for Sales Performance Management.

Notes
  1. "Top European banks are managing deferred compensation with beqom". startupticker.ch. 2013-07-11. Retrieved 2014-07-03.
  2. "Bloomberg Businessweek Company Overview of beqom". businessweek.com. Retrieved 2014-08-22.
  3. "Corporate Management". beqom.com. Retrieved 2014-08-22.
  4. "Excentive Compensation Management System Review". hrlab.com. Retrieved 2014-08-22.
  5. "Excentive Brings Total Compensation Management to North America". hr.com. 2009-11-03. Retrieved 2014-08-22.
  6. "Excentive International announces business name change". beqom.com. 2013-08-29. Retrieved 2014-08-22.
  7. "Renaissance PME and Swisscom Ventures invest in Swiss software company beqom SA" (PDF). swisscom.ch. 2014-07-22. Retrieved 2014-10-06.
  8. "Goldman Sachs Invests $35m to Accelerate the Growth of beqom - a Cloud Based Total Compensation So (via Passle)". Passle. Retrieved 2019-10-01.
  9. "EY Entrepreneur Of The Year 2019: The award winners". EY.com. 2019-10-29. Retrieved 2020-04-08.
  10. "beqom launches total compensation solution on Microsoft Azure". Technology Record. Retrieved 2019-10-01.
  11. "WorldatWork - Total Rewards 2019". www.worldatwork.org. Retrieved 2019-10-01.
  12. "Daimler picks beqom as compensation platform". www.e-reward.co.uk. Retrieved 2019-10-01.
  13. "Syngenta Selects beqom for "Flexible," "Powerful" Long-Term Incentive Plan Management". MarketWatch. Retrieved 2019-10-01.
  14. "beqom Case Study". partner.microsoft.com. Retrieved 2019-10-02.
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