Automatic Data Processing Inc. (ADP) is an international outsourcing service provider with its headquarters in Roseland, N.J. Currently, it is considered as among the largest payroll outsourcing provider globally. It was one of the earliest adopters of cloud computing operating models. They mainly run through the following primary business segments, Professional Employer Organization Services and Employer Services ( ADP, 2017). Based on the company’s executives, the vendor cut paychecks for one in six Americans. It was founded in the year 1949 by Henry Taub as one of the payroll processors. The essay will focus on the roles and responsibilities of the financial controller for ADP identify the primary stakeholders and discuss the role of the controller in communicating the financial information with the stakeholders.
According to ADP (2017), t he business provides a wide range of outsourcing services such as retirement plan services, pre-employment background checks, worker compensation, and benefits management. They also offer various software products for diverse functions including procure to pay, talent management in addition to time and attendance. The company has about 600,000 customers globally, and among them 40,000 uses the firm’s human capital management software. Major clients include The E.W. Scripps Company, Blue Cross Blue Shield of Massachusetts and even Columbia Sportswear.
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At ADP, the financial controller has specific roles and responsibilities. For instance, he manages all the accounting and monitors the internal controls. In addition to this, the financial controller undertakes the following critical responsibilities insurance recommendations, banking, and finance activities, appropriate reporting and payment to all taxing authorities and purchases and corporate documentation ( Bragg, 2012). The financial controller often acts in a leadership role in the human resource system related implementation including organizing meetings to advance projects, researching options, creating and conducting unit and user acceptance testing, organizing meetings to advance projects, developing and conducting training to impacted users and reporting on project metrics/return on investment.
The financial controller is responsible for undertaking research, evaluating and providing consultation for all new solutions, enhancements and even the improvement to the current firms or even HR related procedures through the use of technology. He is also in charge of reviewing and monitoring the system upgrades to determine the business impact, undertakes regression testing and even making recommendations for all the functionality. Lastly, the financial controller also is responsible for generating and analyzing reports for all the special projects on various issues to assist the management in the decision making and all legal reporting.
Every organization, including ADP, has internal and external stakeholders who play a critical role in the success of the company. ADP’s external stakeholders include the government, customers, suppliers, shareholders and the Board of directors. ADP’s internal stakeholders are comprised of the management and employees. The controller’s primary responsibilities to the external stakeholders entail, delivering accurate and transparent financial statements and the annual reports that provide them with information concerning the state of the company ( Bragg, 2012). Based on the fact that ADP is a private company, its shares are necessarily traded within the public exchange and further, they do not have to meet the strict SEC filing requirements that are mandatory for all the public companies. Nonetheless, ADP Company pays the state and federal taxes and can also be audited by the IRS.
In an event when an ethical culture does not exist, low morale can significantly spread throughout the organizational levels and might compromise the overall credibility and values of the employees. It is critical for the first-line employees to establish a direct communication with the corporate to ensure that they voice their ideas and views and obtain a much broader perspective and understanding of their vital role in the revenue cycle. The controller’s communication with ADP’s internal and external stakeholders is one of the crucial aspects of the firm to reach a sustainable growth. In this case, the roles and responsibilities of the financial controller are broad and tend to incorporate diverse areas ( Rouse, 2017). In this case, communication ought to be direct and integrate every level of the ADP facility. As the business leader, translating of transparent and accurate financial statement to the executives ought to be as critical as the implementation of the culture of ethical performance.
References
ADP (2017). Company Information. Retrieved from https://www.adp.com/contact- us/company- information.aspx
Bragg, S. M. (2012). The essential controller: an introduction to what every financial manager must know (Vol. 582). John Wiley & Sons.
Rouse, M., (2017). financial controller. Retrieved from http://searcherp.techtarget.com/definition/financial-controller
