Question

The key objectives for any payroll system are to produce payroll accurately, on time and in compliance with all legislation.

List and describe three items that the organization can use to analyze their specific requirements prior to selecting a payroll solution.

Answer 1

When selecting a payroll solution, an organization must analyze their specific requirements based onseveral key factors. Three "items" that an organization can use to do this include:

(1) The organization's budget for the payroll solution

 The amount of money that the organization has determined they can spend on the initial implementation of the system or the initial conversion from an existing system to a newly selected solution, as well as the amount they can spend for on-going costs associated with the use and maintenance of the payroll solution

(2)Gap analysis

 Agap analsis to review the current payroll systems/solutions being used, if any, compared tothe new payroll solutions being considered

 Focuses on details such as what is currently requirement of the system and what is expectedto be required in the futureAnalyzing gaps/deficiencies between that need to be addressed before a new payroll solution is selected

3) Security

 Security of internal information (such as the privacy required for employee information and the organization-specific information) from external factors, as well as the security of internal information from other internal sources

 Considerations of the segregation of duties to control who gets access to what payroll and employee information within the system

 Considerations of the back-up capabilities of the new solution to handle disasters and accidents such as power outages, facility damage, and other situations.