Compt Reviews and details

Questions & Answers

1. What's the story behind Compt?

   Compt was founded in 2018 with the vision of revolutionizing the employee benefits landscape by introducing a more personalized and flexible approach to benefits reimbursement.

   Founder and CEO, Amy Spurling, also a 3-time former CFO and 2-time COO, recognized that traditional benefits programs often lacked customization and failed to address the diverse needs and preferences of employees. With this realization, she set out to create a platform that empowers employees to choose benefits that align with their individual lifestyles, ultimately leading to increased job satisfaction and engagement.

   From its inception, Compt has aimed to provide a solution that not only benefits employees but also addresses the challenges faced by employers in managing and administering benefits. The platform is designed to be user-friendly and simplify the reimbursement process, integrating seamlessly with existing HR systems, and providing valuable insights into employee spending patterns.

   As the company evolves, it continues to refine its offerings based on user feedback, industry trends, and the changing landscape of work. Today, Compt's platform consists of three pillars: stipends, rewards & recognition, and expense management.

   Throughout its journey, Compt has focused on educating both employees and employers about the benefits of its personalized approach and the positive impact it has on company culture and employee well-being. Compt is a leader in the employee lifestyle benefits reimbursement space.

2. What makes Compt unique?

   At Compt, we redefine employee benefits with our Lifestyle Benefits Reimbursement Platform, crafted to embrace personalization and flexibility. Our platform empowers employees to choose lifestyle benefits that truly resonate with their individual needs, driving unprecedented engagement and satisfaction.

   What truly distinguishes Compt is our commitment to choice and simplicity. Without the hassle of managing vendors or cards, our platform grants employees the freedom to allocate funds across a broad spectrum of expenses. This flexibility not only enhances personal choice but also ensures that every employee can benefit in a way that makes sense for them. Our reimbursement model places the power directly in the hands of employees, allowing them to dictate how and when their benefits are used, all while navigating the complexities of IRS compliance with ease.

   Integration with existing HR and payroll systems is seamless with Compt, significantly reducing administrative burdens. We also prioritize educational resources to help employees fully leverage their benefits, enhancing both understanding and utilization. Our platform offers valuable insights into spending trends, enabling employers to continuously adapt and improve their offerings.

   With Compt, over 90% of users actively engage with their Lifestyle Spending Accounts, a testament to our platform's effectiveness and the tangible impact it has on employee morale and retention. Experience the Compt difference, where benefits are more than just perks—they're a personalized path to a happier, more fulfilled workforce.

3. Why should a person choose Compt over its competitors?

   Compt stands out in the employee benefits landscape through our deeply personalized approach, empowering employees to customize their benefits to match their unique lifestyles. This personalization drives unparalleled satisfaction and engagement, as demonstrated by the diversity of choices our platform offers. In 2023, Compt users utilized their stipends at over 70,000 different vendors—a feat unmanageable in a traditional marketplace setup.

   Our platform's user-friendly interface streamlines the reimbursement process, making tracking and managing spending effortless. For HR teams managing tight budgets, Compt merges stipends, rewards, recognition, and expense management into one integrated solution, providing all these services at a fraction of the cost of competing tools.

   Seamless integration with existing HR systems boosts administrative efficiency, while our commitment to education ensures employees have the knowledge to maximize their benefits fully. Compt also provides valuable insights into spending trends, helping employers continuously tailor their benefits offerings to meet evolving needs.

   For those who value customization, flexibility, ease of use, and insightful data, Compt represents the optimal choice in modern employee benefits platforms.

4. Who are some of the biggest customers of Compt?

   -Masterclass -Carrot -VTS -Large Midwest Hospital Network (unnamed for privacy reasons) -Fictiv -Column -ButterflyMX -Large Commercial Consumption Manufacturer (unnamed for privacy reasons) -and more!

5. How would you describe your primary audience?

   Compt is crafted for HR professionals by those who know the industry best, ensuring our solutions align perfectly with the needs of those managing employee benefits. Our platform is also highly valued by finance teams for its efficiency and cost-effectiveness.

   Our primary audience includes progressive companies committed to enhancing their employee benefits with innovative, adaptable solutions. These organizations prioritize customization and employee satisfaction to attract and retain top talent by providing benefits that align with individual preferences.

   Compt is also an ideal choice for brokers and is recognized as a top trusted partner on the ADP Marketplace, highlighting our commitment to quality and trust in the professional space. Our platform caters exceptionally well to companies that value employee well-being, engagement, and a balanced work-life dynamic, and it is particularly suited for businesses with remote, hybrid, or globally distributed workforces.

   Additionally, our solutions appeal to organizations looking for streamlined administrative processes and data-driven insights to optimize their benefits offerings. Overall, Compt's audience includes forward-thinking companies and industry professionals seeking to transcend traditional benefits models and implement truly responsive and tailored benefit solutions.