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.

according to the payroll fundamentals 2 chapter 8

Answer 1

Three items that the organization can use to analyze their specific requirements prior to selecting a payroll solution are:

1. Budget – This item refers to the amount of money that the organization has earmarked for the implementation of the system. This will also include the costs that will be incurred on a regular basis with regards to maintenance of the payroll solution.
2. Gap analysis – This item will pertain to reviewing the current payroll system that is being used by the organization and comparing it to the new payroll solution that is being considered. The focus will be on determining the current requirements of the payroll system and the future expectations as well. Lastly the gaps and deficiencies that exist will have to be determined, analyzed and addressed before the new solution is selected and put into function.
3. Security – This item refers to the protection of the internal information. The internal information related to payroll will have to be protected from both external factors as well as internal factors. The second aspect of this item is with regards to internal control function of segregation of duties. Access levels to the payroll system should not be uniform for all users.