I. EXECUTIVE SUMMARY
There is a great interest in internet-available-software that provides alternative for high-cost software available in the market. Prospective purchasers all over the world find themselves in a situation wherein they have to choose between quality and cost. There are certain products which provide high quality in exchange for a high cost; some are not as expensive though, but only provides average quality. Most companies can't afford major software products at the current price levels of the major suppliers like Microsoft, Adobe and MYOB. Business management therefore is inclined to look for alternative accounting application software that is of high quality but not as costly as major software products. Thus, PayRite Corporation came to existence. This company acquired rights to accounting application software products from an IT firm that creates computer software and makes it are accessible in the internet, making it less expensive compared to other Payroll System available in the market and provide high quality service.
The purpose of this study is to provide a basis for continued discussion, information input and potential standpoints concerning how prospective clients should view and what position it should take relating to this type of Payroll System that is available in the internet. In the background are among other things the fact that the market for accounting application software products in the Philippines is dominated by a small number of players and also the fact that there are small factors that affects the market competition. One result is high costs for customers. In many cases, suppliers have created various supplier-specific functions in the software, and the possibility at least in a short term for a customer to change to an alternative product, is thereby made difficult. Competing products, available with similar conditions, do not suffice to break this supplier dependency. Instead there is a need for other ways of attacking the problem. One such way is to promote Payroll System Software that cost less but has the same quality as these high costing products. In this way we can create conditions for a greater freedom of choice. Important aspects are the availability of low-cost computer software, but also portability and the ability to be able to use products on different platforms.
In the current scenario on Payroll Applications, a Payroll system is defined as an essential business tool to efficiently handle computation of employees' salary. It is a highly routine application system and to be accepted by the public it must be user-friendly. That the storage of employees' data outside the sanctuary of their own computer is now acceptable and that renting of payroll system today is acceptable to reduce the lump-sum expenses.
And now, we will introduce to the market the 1st web-based Payroll outsourcing provider in the Philippines. The employer will surely control all the employee data anytime anywhere in the world. Payrite is tailor-made to Philippines standard Payroll practices. Witholding tax, SSS, Pag-ibig and other government computation which can be processed in one day only.We will provide the friendliest and simplest payroll experience in the Philippines.
PayRite Corporation was initially conceptualized in lieu of the idea that in the business world nothing is certain; there will always be ups and downs. Looking at today's existing payroll system, we can say that they are functioning as designed, yet we saw something missing: the use of the system is limited. Hence, PayRite came to existence to provide a web-based payroll system that is accessible anytime.
PayRite Inc. objective is to be the leading provider of quality web based payroll System and services.
To introduce a brand new concept in payroll applications.
To offer a payroll application that has a rich set of features.
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