Arlington, Va. — Feb. 21
Plateau Systems, a provider of software for developing, managing and optimizing organizational talent, has acquired Nuvosoft Inc., a privately held provider of Web-based compensation management software.
By combining Plateau’s learning, performance, career and succession capabilities with Nuvosoft’s compensation planning and incentive management functionality, Plateau will deliver the industry’s first best-in-class talent management solution.
“The strategic acquisition of Nuvosoft validates and underscores Plateau’s ongoing commitment to delivering best-in-class talent management solutions,” said Paul Sparta, Plateau chairman and CEO. “By offering advanced compensation capabilities with our existing best-in-class learning, performance management and career and succession planning solutions, Plateau is providing organizations with a unified approach to developing, managing, rewarding and optimizing talent.
“As we continue to deliver superior talent management solutions that can be deployed individually or as part of a full talent management suite, we enable current and prospective customers to future-proof and expand their investments in a way that makes sense for their organization.”
According to The Yankee Group, an industry research firm, the worldwide market for talent management solutions — which includes employee learning, performance, career and succession planning, compensation management and recruitment — is expected to surpass $2.3 billion in 2006, growing to more than $4.0 billion by 2009.
Yankee forecasts 19.6 percent growth in compensation management over the next four years, attributed to more performance-based compensation programs and the emerging pay-for-performance initiatives.
“The ability to enable consistent, reliable and standardized compensation processes that are linked to key performance drivers of individual and organizational strategies can affect many facets of the business,” said Jason Corsello, The Yankee group business and IT services director. “Integrating a talent management vision—maintaining visibility, control and alignment of performance and compensation tied to business outcomes—has become critical to the success or failure of today’s organizations.”
Global customers, including Nintendo, State Street Bank, BOSE and Lucent Technologies, are using Nuvosoft’s award-winning solutions to facilitate compensation planning and incentive management across their organizations.
Plateau Compensation will offer Nuvosoft’s comprehensive compensation management capabilities as three integrated applications that also can be purchased individually.
Plateau Compensation is an advanced, flexible and intuitive compensation planning and management system that allows organizations to build, administer and update simple and complex, policy-based compensation plans in real time.
This inclusive, Web-based system allows compensation managers to implement state-of-the-art pay-for-performance programs that tie employee, group and division goals to company financials.
Plateau Compensation enables managers to easily and cost-effectively reward top performers and increase workforce productivity.