Satori helped the Executive Compensation group of a Fortune 100 financial services firm to create a tool to automate documentation of certain types of compensation, which had previously been done manually, eliminating many rounds of checks.
The Executive Compensation group of a Fortune 100 financial services firm had a yearly compensation documentation process for documenting certain employees who were paid above or below a certain standard deviation from the mean. This process was extremely manual and required the passing of huge amounts of sensitive comp data via email in excel spreadsheets. There were many manual checks involved in maintaining the data and much room for human error. Satori was brought in to help automate and streamline the process
Satori worked with key stakeholders of the process to understand what the key pain points were for each group. Satori identified that there were three main areas for improvement: i) in filling out the documentation accurately (those people filling out the documentation were not familiar with the regulations around the documentation) ii) in checking the Executive Compensation teams checking of the documentation iii) in the storage and maintenance of the documentation.
Satori partnered with the IT team to develop and solution that streamlined the process through enhanced spreadsheets with built in checks and validations as well as an Access database to house the documentation. Satori successfully conducted training with the main stakeholders on the new process and supported the team through one round of documentation. Satori’s solution led to the documentation coming in cleaner and therefore had fewer rounds of checks.