Initiating Scenario Biotech, Inc. is one of the world's fastest growing biotechnology firms. In addition to performing basic research, the company provides several FDA-approved drugs. They have recently expanded into the genetically modified food market and energy market, as well. The company has over 30,000 employees today, having added almost 10,000 people last year alone. They predict that they will continue to grow in the future. They currently are headquartered in California and have offices in six other states and five other countries. They plan to open four additional offices next year. Part of the reason for the company's success has been their strong work culture. The company's founders wanted to focus on using science and innovation to improve people's lives. They believe in hiring highly talented and motivated individuals who can work well on self-managed teams. You have been working for Biotech, Inc. for the last two years in their information technology department. You have just been assigned as a senior systems analyst supporting the new Resource Management System Project. Due to their rapid growth, the CIO and the VP of human resources have both made this project a priority to help manage the company's workforce. Their current system is not working well for doing basic functions like applicant tracking, new employee orientation, benefits management, employee security, compensation, etc. There are currently several decentralized systems various managers use for managing their people, including software to help assign people to various projects. The main goal of this project is to provide one centralized yet flexible system to more effectively manage all of Biotech, Inc.'s people. Senior managers believe it will take about one year and $1 million for this important project. They also feel it would be best to purchase an existing application and tailor it, as needed.
Tasks.
Although Senior management does not want a business case for proceeding with this project, they would like to know what some of the potential financial benefits could be from this project. Describe several potential financial benefits that could result from providing this system.