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| Solutions/Case Studies/Executive Compensation System |
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SynCo has also handled an executive compensation system challenge
that will be of interest to companies seeking to reduce complex,
time consuming tracking and updating tasks into a fully integrated,
secure and easy to use program. For a recent client, SynCo developed
a confidential system that manages a variety of different executive
compensation package components that include cash payments, deferred
monies, stocks and other types of compensation. Within these categories
of benefits, the system also needed to be capable of recording and
managing a rapidly changing mix of plan options, additions, subtractions,
regulations, and tax rulings. Working with the company's accounting,
IT and HR departments, SynCo professionals constructed an information
system that offers a highly secure, easy to use platform. This system
handles a variety of different deferral plans, tracks real and projected
earnings, and updates stock balances, distributions and taxes for
both current and separated or retired executives. In addition, the
new system seamlessly interfaces with the company's general payroll
program without sacrificing confidentiality.
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