Construct A Cost -benefit Analysis Matrix For An Organization

Construct a Cost -Benefit Analysis matrix for an organization that is considering replacing its internal payroll system with a payroll outsourcing service. Include direct and indirect revenue enhancements and direct and indirect cost reductions. A cost benefit analysis is an analysis of change in the cost-benefit ratio; a comparison of current existing circumstances with new conditions that are projected to exist after the HRIS investment (Carlson Kavanagh, 2012, p. 185). It provides the most comprehensive monetary measures of the positive and negative consequences of a possible internal payroll system if done correctly. With a payroll outsourcing service, it is important to determine the risks and incentives of decision actions. The chart below displays a Cost-Benefit matrix for an organization that is considering replacing its internal payroll system with a payroll outsourcing service. Direct and Indirect Benefit consists of Revenue: (D) Improve employee job performance, (I) quicker systems and better reporting options. Reductions: (D) Combine systems into one vendor and (I) Employee’s to do other task. Cost consists of: New Payroll Systems: (D) implementation and (I) Trouble shooting/IT. (Carlson Kavanagh, 2012) Direct Indirect Benefit Revenue Improve employee job performance Quicker Systems Better reporting options Reductions Combine system into one vendor Employees’ time to do other tasks Cost New payroll systems Implementation TroubleShow MoreRelatedISAC Introduction ISAC stands for information systems work and analysis of changes. ISAC is the1100 Words   |  5 PagesISAC Introduction ISAC stands for information systems work and analysis of changes. ISAC is the method used for system development. Such methods are developed in order to improve the quality and efficiency of system development process. 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