Anaplan Global Compensation for Banking

The Anaplan company submitted in the spring of 2016 the Global Compensation for Banking application — a scalable solution for planning and modeling of bonuses and remunerations in financial institutions. This protected multidimensional application allows services and it is easy for the employees who are responsible for calculation of remunerations to distribute the general bonus fund on different levels of the organization. Using the application of the company can create transparent models of remuneration for the employees, use scenarios "that if", to apply difficult algorithms of distribution of the simple and delayed bonuses up to the specific employee and also to analyze results in real time.

"Management of a bonus fund is important for banks and their financial strategy as the ratio of wage fund to revenue in this industry reaches 35–45% — Damyen Tesser, the partner of PwC company advising banks on the strategy of remuneration specified. — In continuously changing conditions with constantly growing competition financial institutions are in search of more productive schemes of remuneration of employees. But at insufficient or wrong data put remuneration into dependence on business strategy it can be difficult. In addition regulating authorities require to provide the corresponding reporting on remuneration of the employees accepting substantial risks and receiving the highest compensation".

The Global Compensation for Banking appendix from Anaplan is contained by feature set of forecasting and the scenario analysis thanks to which the department of personnel management can plan, analyze and estimate efficiency of remunerations, monitor rules of their charge and quickly make changes to the corresponding models.

Velesevich Evgeny, the head of Russia and CIS of Anaplan company, noted: "In such industry which is sensitively reacting to changes with the high level of regulation as financial institutions, the companies appreciate possibilities of flexible modeling and planning with the simple interface more and more. The Global Compensation for Banking application from Anaplan is an excellent example of the solution allowing banks to adapt to constantly changing requirements in the field of planning of remunerations and to equip all experts, responsible for this process, with the advanced tool".