CompensationXL is a cloud-based HR solution that allows users to create workbooks and access them online. It stores business rules and feeds data automatically to HRIS. The system offers self-service dashboards for managers to make recommendations, approve actions, and generate reports. It also helps establish and maintain pay for performance strategies, allows users to upload existing Excel workbooks, and mold compensation processes to fit existing ones. The system aligns rewards with organizational or individual performance and manages incentives such as equity and bonus.