Adoption of Square Payroll by Great Lakes Brewing Company for better Processes and Higher Sustainability
Name:
Title: Accounting Manager
For: The Company and IT Steering Committee
Executive Summary
Our company should strive to determine and embrace the most suitable system that facilitates the attainment of our target goal and objectives of ensuring sustainability, more efficiency, higher-convenience, reduced costs of operation, higher accuracy, and more transparency. Unfortunately, we have been relying on a payroll system that is less-automated and does not have a mobile app. Accordingly, this report relies on TELOS and NPV analysis to determine the most suitable system. Subsequently, exhaustive analysis and evaluation of available systems with regards to feasibility by considering aspects such as required resources, and desired outcomes would reveal the most suitable one for our organization. Fortunately, Square Payroll system acts as the most appropriate one since it has higher feasibility capacities. Also, the project would facilitate the attainment of all the desired goals and objectives on matters concerning payroll processes. Even so, this document elaborates on some alternative systems that Great Lakes Brewing Company could adopt to realize all or the majority of its target goals and objectives.
Business Case/Statement of Needs
Our company has benefited immensely from an antiquated payroll system that has been in operation for over ten years. However, it is high time that our organization determines and adopts a better payroll software to realize more efficiencies, higher accuracy, reduced operation costs, and higher transparency and sustainability.
As an organization that significantly values its employees, we should adopt a payroll system that satisfies the demands and needs of all workers. Unfortunately, our workers find it difficult and almost impossible to access and learn how our payments to them are processed. Accordingly, we should choose a payroll system with ease of access and use by every employee. Thus, we should determine a suitable payroll system with a Mobile App to encourage remote and convenient access. Moreover, a suitable payroll system would allow employees to access, analyze, and evaluate their remunerations and relevant deductions with relative ease and comfort.
Moreover, our company should adopt a more transparent and reliable payroll system that offers all the essential details and reports to every worker and our accountants. Since our firm embraces and encourages employees to own stock, it is crucial to ensure that a highly-reliable and easy-to-study payroll system is adopted to promote workers’ satisfaction. That is, each employee would probably be more most concerned with details such as applicable State and Federal taxes, the number of paid hours per employee, and the date of depositing money in banks.
Additionally, our company should adopt an appropriate payroll system that promotes continued prosperity and sustainability. As an entity whose primary focus is on sustainable development, it is crucial that we rely on a payroll system that facilitates the attainment of our goal by minimizing operation costs, encouraging more efficiency, and exhibiting reasonable adaptability to the ever-changing work environment (Gatrell, Reid & Steiger, 2018). Accordingly, a suitable payroll system should always remain efficient and up-to-date. Unfortunately, our current system is outdated and lacks vital support services.
Further, the current payroll system is less-efficient because some of its processes are not automated. For instance, the system relies on manual updating of tax percentages. Consequently, accountants consume substantial efforts and time in processing payrolls for the workers. Therefore, we should embrace a more automated system to ensure higher efficiency, accuracy, and speed (Haris, 2003). Also, we need a system that provides a direct deposit of funds to employees’ bank accounts for speedy payments. Moreover, we would drastically reduce the amount of money that we spend on printing paychecks for employees.
Goals of the Project
This project endeavors to identify and elaborate on a suitable payroll system that our firm should embrace to encourage more efficiency, higher accuracy, reduced operation costs, higher transparency and sustainability, and more automation in our organization with regards to our payroll system. Thus, this project analyzes and evaluates on available payroll systems that our firm could adopt to realize such objectives and goals.
Constraints
This research study relies on TELOS analysis to determine the most appropriate payroll system for our firm. TELOS analysis plays vital roles in elaborating on feasibility of a project (Šerman, Glavaš, Vukobratović & Kraus, 2017). The first constraint that influences this project is sustainability. As a firm whose primary aim is to ensure sustainability, a suitable payroll system would encourage the attainment of such a goal. Accordingly, we should determine and embrace a payroll system that would remain effective, efficient, and reliable over an extended period. Besides, we should adopt a system that is compatible with a wide array of devices, including mobile phones and computers.
Secondly, we should identify, purchase, and install an affordable yet efficient and effective payroll system. Since we engage in a number of events that are meant to support the local communities while conserving the environment, we should acquire a comparatively cheap payroll system to save significant amounts of money. Still, we need a system whose maintenance is less costly.
Additionally, we need a system that attracts a smooth and seamless transition from our current payroll system. Specifically, we need a better and more automated system compared to the one we are using. Moreover, an appropriate system would facilitate the accurate transfer of vital details from the current system. Also, a suitable system would aid in determining and highlighting failures and mistakes in the existing system to encourage timely corrections, thus helping our firm in avoiding unnecessary penalties and fines. For example, a suitable system would reveal pending Federal or state taxes. Still, we need a system that is compatible with available devices, including those that are used by the current system. Therefore, we need a system that improves the existing.
Also, we need a system that will not demand advanced skills and knowledge from the users. Instead, a suitable system would require some basic training while causing insignificant impacts with regards to the smooth operations of our organization. That is, we need a system that would encourage continued operations during the installation, training of employees, and subsequent use. Since our employees and accountants would continue accomplishing their tasks and responsibilities during the adoption of the new system, we have limited time for training.
Furthermore, we need a system that meets legal requirements to operate in the US where our firm is placed. Specifically, we need a system that ensures the deduction and remittance of all the necessary taxes while ensuring timely and accurate payment of employees to avoid unnecessary lawsuits.
Time Vs. Relevancy
We need a payroll system that would be in full operation in the next five months. Since our firm encourages its employees to take ownership of the organization’s stock, a suitable payroll system should be adopted and implemented within the shortest time possible to speed up the ownership process (forbes.com, 2019). Employees could need to gain a better understanding of how the firm has been operating with regards to the remittance of federal and state taxes as well as the processing of staff salaries. Such information could be necessary to facilitate informed decisions on matters about ownership of the organization.
Besides, we need a system that would remain relevant, effective, and efficient over an extended period because we are concerned with sustainability. Still, we need a system that would attract more convenience and efficiency while reducing operating costs in the short run. Thus, we need a more automated system to get rid of the costly practice of printing paychecks for employees. Precisely, we need a system that would lead to a drastic reduction in the cost of handling payroll, hence encouraging more saves withing a short while.
Impacts
Impact: Costs and Risks
Although a suitable system would facilitate the attainment of the above-stated goals and objectives, certain costs and risks could occur. First, a new system could have some hidden costs, such as those required for upgrading software or conducting relevant maintenance services. Unfortunately, virtually every appealing project has hidden costs (Weibel, Rost & Osterloh, 2010). Besides, a new payroll system may discourage identification and exploration of other opportunities that could emerge in the market place. For example, it could be difficult and costly for our firm to adopt better payroll systems in the future. Still, the new system may fail to deliver its promises. Manufacturers and promoters of current payroll systems could have used unproven claims and characteristics to boost sales rather than providing accurate information.
Moreover, a new system could result in unwanted delays and disruptions from the usual operations of our firm. For instance, employees and accountants may become demonstrate lower performance as they adjust to the use of a new system. Also, our organization could incur certain costs while training accountants and other employees on how the new system works. Still, some employees may exhibit some dissatisfaction with the use of a new system. Finally, the system may prove unprofitable in the long-term because extra costs such as those for maintenance may occur. Therefore, our organization may experience additional costs and risks that are not easily noticeable.
Impact: Benefits and Opportunities
A new payroll system could attract vital benefits and opportunities for our organization. Although a project could appear less attractive, certain hidden opportunities and benefits would render it beneficial after implementation (Grant, Teller & Teller, 2005). First, our firm may realize substantial savings and profits from the long-term use of the system. Precisely, the practice of automating almost every process and elimination of paperwork would result in more efficiency, accuracy, and a dramatic reduction in operation costs (Haris, 2003). Besides, it could become easier for our organization to adopt other improved payroll systems after embracing a new one. Moreover, our staff, especially accountants, could become more productive and efficient when handling their roles and responsibilities. As a result, employees could become more satisfied and motivated, following timely and accurate payment of their salaries.
Also, a new system could lead to significant changes with regard to payroll processes. For instance, employees could gain the opportunity to edit details on their payroll system, while accountants and the human resource manager would have to check and confirm the information in the system. Still, our firm could realize better competitive standing by ensuring timely and accurate processing and remittance of state and federal taxes as well as employee salaries. Subsequently, our firm would attract more competent individuals following an improved reputation. Therefore, a new system could attract essential benefits and opportunities that are not easily noticeable.
Potential Solution/ Recommendation
Our organization would realize its target goal and objectives by purchasing and using the Square Payroll system (McQuarrie, 2020). Square Payroll software is one of the most affordable payrolls in the market. Accordingly, our firm will spend relatively little amounts of funds to acquire, install, and use the software. As a medium-sized company with a focus on encouraging sustainability, it advisable that we acquire Square Payroll to minimize expenditures on matters concerning payroll. Unfortunately, Square Payroll has a limited number of add-on features compared with other payroll systems such as QuickBooks and Gusto. Since our key concern is on ensuring an efficient and effective system, we should adopt Square Payroll because it offers all the basic and vital features. Besides, Square Payroll relies on low cost-maintenance tends to be low. Precisely, our organization would be paying about $29 every month to acquire payroll services from the online platform.
Moreover, Square Payroll is the best option because it has a mobile app for Android and Ios, hence attracts more convenience for accountants, human resource manager and the employees. As such, our organization and employees would not have to acquire expensive computers and phones to utilize the software. Thus, employees and the organization would not incur extra costs of purchasing new phones and computers since they can install the app on their current devices.
Additionally, Square Payroll does not demand advanced skills and knowledge from the users. Instead, its basic features are relatively easier to use and discourages complexity. As a result, users would quickly identify the icon and feature to use. As a result, our organization would spend comparatively little amount of time, funds and relevant resources in training the staffs on the use of the software. Therefore, it will take a relatively short time for our firm to acquire, install and use the Square Payroll system.
Further, Square Payroll is suitable for our firm because it facilitates smooth switch from the existing payroll system. Specifically, Square Payroll automatically retrieves vital documents and details from the current system (McQuarrie, 2020). Besides, it checks for any errors and mistakes with regards to functions such as payment of Federal and state taxes and employee salaries in the current system. Subsequently, our organization would avoid the otherwise costly, tedious and timeconsuming practice of switching from one payroll system to the other.
Accordingly, we should acquire and install Square Payroll system within the next few months to ensure we realize our target goals and objectives without delays. Moreover, all employees and accountants should strive and ensure that they have appropriate smartphones to facilitate ease of access and use of the new payroll system. Nonetheless, our organization should encourage ease of access and use of all the available computers and phones by every staff member so that those without the required devices do not feel excluded from the new system.
Still, Square Payroll would work best for our organization because it automatically updates all the crucial federal and state deductions. As such, our organization would comply with all the necessary legal requirements by accurately paying taxes on time. Similarly, Square Payroll encourages speedy and accurate payment of employees since it automates virtually all the relevant processes. Accordingly, our organization would avoid costly lawsuits that could emanate from practices such as delayed or incorrect payments. Therefore, Square Payroll is legally feasible for our firm.
However, it is relatively difficult to tell if Square Payroll will remain effective and efficient over an extended period because it is one of the newest payroll systems in the market. Hence, the software could exhibit some technical problems, especially with regards to the use of mobile app. Moreover, the Square Payroll may not prove attractive to the users due to its limited features. Also, Square Payroll could be missing some useful features that could attract better performance. Therefore, further research studies should be conducted to collect information from firms that have adopted the use of Square Payroll before purchasing, installing and using it.
Alternative Solutions
Although Square Payroll could be the best solution for our organization, alternative payroll systems that could effectively deliver the desired goals and objectives exist. First, Gusto could be the best alternative since it has more features and higher-performance compared with Square Payroll. Moreover, Gusto has a mobile app, thus attracts more convenience among its users (McQuarrie, 2020). Also, Gusto has gained good repuration and proves to be highly-efficient and effective. Still, the system is highly-automated for speedy and accurate processes. Besides, Gusto is legally feasible for our firm because it facilitates accurate and timely payment of state and federal taxes . However, Gusto is comparatively more expensive since its software cost over $39 per month. Still, Gusto demands advanced skills, hence, more training resources would be used to develop employees and accauntants. Further, Gusto does not have a reliable and readily available support because its support team is operate daytime on weekdays only. Hence, our firm’s payroll system could remain unoperational during weekends or at night when a technical hitch occurs. Hence, Gusto does not appear as the most suitable system for our organization.
The other alternative is OnPay. This payroll system could partially meet the required goals and objectives. The system offers payroll basics that facilitate accomplishment of virtually all the necessary processes in medium-sized businesses. As such, it could make a sutiable option because it does not require the use of advanced skills and extensive training. Luckily, OnPay provides employee onboarding guidelines to encourage switft adoption. Still, OnPay is legally feasible for our firm and other organizations in the US because it facilitates timely and accurate tax filing. Unfortunately, the system attracts inconviniences among its users since does not have a mobile app. Moreover it is relatively expensive for our firm to use OnPay system because it requires over $36 as maintenance fee every month (McQuarrie, 2020). Therefore, our firm’s focus on sustainability and support for local communities may be compromised by lack of adequate funds because OnPay requires money. Therefore, our firm should not acquire and use OnPay because it does not meet the specifications and requirements.
References
Gatrell, J., Reid, N., & Steiger, T. L. (2018). Branding spaces: Place, region, sustainability and the American craft beer industry. Applied Geography, 90, 360-370.
Grant, D. B., Teller, C., & Teller, W. (2005). ‘Hidden’opportunities and benefits in using web-based business-to-business surveys. International Journal of Market Research, 47(6), 641-666.
Great Lakes Brewing Company. (2019). Retrieved 8 March 2020, from https://www.forbes.com/companies/great-lakes-brewing-company/?list=best-small-companies#6c2e5c2e5fc6Haris, M. H. (2003). Automated payroll system (Doctoral dissertation, German-Malaysia Institute).
McQuarrie, K. (2020). Best Small Business Payroll Software 2020 | Business.org. Retrieved 8 March 2020, from https://www.business.org/finance/accounting/best-payroll-software/#OnPay_reviewŠerman, B., Glavaš, H., Vukobratović, M., & Kraus, Z. (2017). TELOS Feasibility Analysis of Photovoltaic Power Plant. Applied Engineering Letters, 2(3), 91.
Weibel, A., Rost, K., & Osterloh, M. (2010). Pay for performance in the public sector—Benefits and (hidden) costs. Journal of public administration research and theory, 20(2), 387-412.
