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

Answer-

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

1-The organization' budget for the payroll solution:-

The amount of money that the organization has determined they can spend on the initial implementation of the system, as well as the amount they can spend for on-going costs associated with the use and maintenance of the payroll solution.

2-Features:-

  Whether the payroll system offers features such as payment options, payment timing,tax calculations and deductions, supplementary wages, working time, attendence etc. Whether the Company providing Payroll Solution provides regular updates or not is another important to know before purchasing the same.

3-Security:-

Security is an important factor while selecting a payroll system. Security of internal information from external factors, as well as the security of internal information from other internal sources.Considerations of the back-up capabilities of the new solution to handle disasters and accidents such as power outages,facility damage and other situations.