Cloud Payroll Solutions Overview
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![Page 1: Cloud Payroll Solutions Overview](https://reader034.fdocuments.in/reader034/viewer/2022051513/547fe59ab4af9fcd458b4740/html5/thumbnails/1.jpg)
Group I Practicum Presentation:
Ian CampbellDara Boland
Mark AllenTommy O’ Brien
Graham Tate
Business Plan for a Cloud Computing-Based Payroll
System
24th August 2011
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Our Idea• A user–friendly payroll system that can be accessed
remotely using cloud computing technology.
• Passing on the cost-savings associated with a cloud service to the end-user in the form of an affordable annual subscription fee.
• Fully revenue compliant system that updates automatically at year end.
• Focus on the small-medium enterprise market in Ireland with companies employing between 2-35 employees: Over 6600 limited Irish companies of this size.
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Primary Market Research
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Research ObjectivesIdentify:
1.Characteristics of respondents’ current payroll system.
2.Perceived issues & limitations with this system.
3.Attitudes towards a cloud-based system & willingness to adopt
4.Respondents’ understanding of internet/mobile technology
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Key Research Findings
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Key Research Findings
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Key Research Findings
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Reasons for Switching
Key Research Findings
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Legal Considerations
• Data Protection Act (1988 & 2003)
• European Communities Regulations: Electronic Communications, Networks & Services (2003)
• Revenue Compliance
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Revenue Compliance• Automatic Updates in line with budgetary
amendments: PAYE/USC
• Related-payroll tax forms: P30, P35,P45,P46 & P60
Payroll Software Developer Association (PSDA) - Membership
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Who is the target?
Any Irish SME with ≤ 35 employees
Over 6600 limited Irish companies of this size
Payroll Software Services Industry valued at €286 m for 2011
~ Barnes Report
Customers
The Target Market
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CCPPSS Competition30 day free trial (download)
10 day free trial (download)
30 day free trial (download)
€140 p/a €149 p/a €149 p/a
Fastest response to legislative change
Quickpay (max 25 employees)
Payroll lite (3 employees - €99)
No online support Quickpay free (5 employees) 30 day customer support
Leverage off their succesfull accounting software and above the line marketing
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Technology PlanCreate a cost-effective, easy-to-use payroll
program through a SaaS model.
The Software as a Service (SaaS) model provides a number of benefits to users:
Ability to process payroll from any computer with internet access.
Automatic backup of their data. Guaranteed Revenue Compliance.
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Microsoft AzureThe service will run over Microsoft’s Azure PaaS
system.
Platform as a Service (Paas) vs. Amazon EC2 Infrastructure as a Service (IAAS)
ISO 27001 Information Security Management Standard certification
Allows CPS to geo-specify locations where data can be stored.
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Security• Security is a large concern for organisations placing information
within the “cloud”.
• Microsoft Azure platform and database storage will ensure that customers data is stored according to ISO 27001 certified data protection procedures.
• Greenstein and Vasarhelyi (2002) outline five categories of security to ensure data transferred between a user and a website are kept secure:
1. Confidentiality2. Integrity3. Authentication4. Non-repudiation5. Access Controls
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System Architecture
Web Application Firewall
Presentation Layer
Computational Layer
Data Access Layer
Database Firewall
Storage Layer
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Finances
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The Revenue ModelCPS will generate revenue through annual
subscriptions.
The idea of our revenue model is that a customer has to pay a subscription price in order to have access to the Payroll service that CPS is offering.
Users are charged an annual subscription fee of €121 (including VAT), to use the payroll service.
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Start – Up Financings – Up Financings CPS will look to generate income in year 1 via Equity and Debt financing:
Equity Financing: Holdings of each shareholder:
Executive Shareholders
Mr Dara Boland: Input Value: €15,000. Percentage in the company: 20%Mr Graham Tate: Input Value: €15,000. Percentage in the company: 20%Mr Ian Campbell: Input Value: €15,000. Percentage in the company: 20%Mr Mark Allen: Input Value: €15,000. Percentage in the company: 20%Mr Tommie O’ Brien Input Value: €15,000. Percentage in the company: 20%
Equity financing from individual directors comes to the sum total of €75,000
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Debt Financing Financing The company will be further financed by a loan of €60,000 from Bank Of Ireland
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Annual Subscriptions Year 1, 2 and 3Annual Subscriptions Year 1, 2 and 3
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Break Even AnalysisEven Analysis
Break Even - April 2013: (1125 subscriptions)
After this date, the company will begin to make profits based on estimated costs and Sales
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Forecasted Profit/Losses – Year 1, 2 and 3Year 1 forecasted losses of (-€22,558)Year 2 forecasted profits are calculated at
€16,113.Year 3 forecasted profits are calculated at €31,
241.
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MeasureableMeasureable
Traceable
Focused
Low Cost Per Lead
High ROIHigh ROI
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Organisational
Strengths Weaknesses
Environmental
Threats Opportunities
FIT
Internal Analysis
External Analysis
Strategic fit“When a particular plan, product etc is suitable in relation to an organization's strategy”Longman Business English Dictionary
Strengths (Internal)•“Simple Software” - Ease of use• Digital Marketing Competencies
Opportunities (external)•Cloud Computing - platform for “Software as a Service” eliminates traditional costs involved in installing, servicing and hosting software products.
Weaknesses (Internal)•Managment not from Technology background•Financial Resources – limited budget for e.g. marketing
Threats (external)Existing brands with larger nrand equities and resources
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CPS In the Mix…Product – CPS Payroll Software – USP - its simple!
Simple to understand, trial, buy (download) and use
Use with Microsoft Office
Seamless transition
Price – No Initial Fee, no update costs, no additional user license agreements just one simple yearly Subscription!
€99.99 excl. VAT (penetration -Set price low in order to: Build Sales and Market Share)
Per office/company and not per user
Promotion – PR (press releases, business awards, networking groups and seminars) Sales Promotion (The CPS Challenge and Affiliate Marketing) Personal Selling ( From Lead Generation to Customer Care / Support)
Internet Marketing
Place – cloudpayrollsolutions.net
SaaS – centralized distribution
Competitive Strategy : Operational Excellence: - lead the industry in price and convenience. Achieve Cost reductions through an efficient delivery system (cloud)
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Digital Marketing Strategy
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Social Media
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Social Media MarketingTwitter
• Inbound and outbound messages.
Facebook• Brand awareness.• Help SEO.
YouTube• Information and
Awareness tool.• Increase SEO.
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SEO and SMMCompetitive Advantage
for CPS is cost. Digital Marketing is cheap advertising.
SMM can help provide search engines what they require.
Apply SEO thinking to Social Media (Keywords, relevant content etc).
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Paid Advertising and MetricsGoogle AdWords
• Flexible budget.• Bidding for
specific keywords.
Google Analytics• Evaluate ROI.• Monitor each
webpage via bounce rate, views and time.