Full Project – Design and implementation of an online salary payment system for bet9ja staff
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CHAPTER ONE
INTRODUCTION
1.1 INTRODUCTION
Payment is the action or process of paying someone or something or of being paid. In the modern world common means of payment by an individual include, money, cheque, debit, credit, or bank transfer and in trade such payments are frequently preceded by an invoice or result in a receipt.
Electronic Payment in business organizations are used to improve cash flow and manage financial accountability at your working place with Active’s online salary processing, manage the entire transaction process from online purchases, salary payments. Having a fully integrated payment system will safe guard your funds and information as it flows through your working place.
This chapter one shall cover the background of the study upon which the project was initiated, the problem statement and objectives of the study. It also contains the significance, scope of study and definition of terms.
The database system will ensure better control and regular effective documentation of employee information as well as the payroll system. This work therefore gives an analysis of the design and implementation of an online salary payment system for a bet9ja, a case study of Umuofocha Nekede, Owerri Imo State.
1.2 BACKGROUD OF THE STUDY
The establishment of the case study (in Umuofocha Nekede, Owerri Imo State) marks the beginning or starting point of the present new-millennium.
The firm (bet9ja) was established in the year 2014 by Mr. Benson with just one branch which is located at Umuofocha Nekede Owerri and has only few workers but now he has many branches around Owerri.
However, the bet9ja which was steadily led by the self effecting focus manager has earned distinctive competence for its proficiency and is a back mark for redefining the bet9ja services standards in the state and as well in the country.
Betting in the modern era cannot be over emphasized without the mention of Bet9ja online and offline bookmaker.
Bet9ja since its inception as a big free bet bookmaker has changed the way and manner at which football betting is carried out in the country.
The Online bookmaker trades under KC Gaming network and is run by series of shareholders from multiple nationalities and ethnicity.
The bookmaker is licensed by Lagos State Lotteries Board with rights to go about her business in other parts of the countries.
Bet9ja betting website began as far back as 2013 when the online bookmarker decided to join the betting market occupied by Nairastake, 1960bet and Nairabet as at the time of inception.
The online bookmaker was as established by its owner Kunle Soname in line with the shirt sponsorship deal with football side Remo Stars.
Bet9ja despite being a popular bookmaker in Nigeria did not attain its popularity in an instant but reached the status as a result of several timely and key decision reached by their management.
Bet9ja’s first step towards popularity was the introduction of offline betting availability which was needed as the time.
As at 2013 several bookmaker operated online method of betting with bookies booking games on their internet enabled devices, with 1960bet the only bookmaker that has offline alternatives for betting option for bookies with no accessibility to internet.
Bet9ja joined the fellow bookmaker and captured what could be called the heart of the betting population in the country.
Bet9ja due to her positive and timely decision became a religion in the country.Bet9ja after cement their leadership in the offline market of Sport betting pushed further its expansion agenda by using human resources as the bedrock.
The betting platform introduce the offline business in the bookmarking industry history in the country and for the first time people have gone into the betting business.
The Bookmarker is a proud sponsor of the Nigerian Professional Football League as well as games involving Nigerian teams on the international stages.
Bet9ja is an online bookmaker company that offers betting on major sporting events operating in Nigeria. Traded under KC Gaming Networks Limited and run by a series of shareholders of multiple nationalities, the website is licensed by the Lagos State Lotteries Board (LSLB) with permission to operate in other parts of Nigeria.
Bet9ja.com is the third most-visited website in Nigeria after Google.com and Youtube.com in late April 2020, according to Alexa a global internet traffic ranking firm. It is also the first most-visited local site in Nigeria and the only Nigerian website in the top 500 most-visited websites globally as of April 2020, according to a recent listing by IABC Africa.
Bet9ja was co-founded by Ayo Ojuroye and Kunle Soname who are its CEO and chairman respectively.
It is against this background that this project work was initiated, with the aim of designing and implementing a web based system that will mitigate some of the identified problems of payment of employee salary for a bet9j using Umuofocha Nekede, Owerri Imo State as a case study. The system will achieve this aim through combination and efficient use of statistical data of various employees in the establishment.
1.3 STATEMENT OF PROBLEM
The current system used in the payment of workers at the bet9ja in Umuofocha Nekede possesses the following challenges;
- The bet9ja especially the bet9ja in Umuofocha Nekede have over the year’s experienced different kinds of operational systems of paying workers. Due to the massive increase in the number of workers, it has become impossible for most workers and other betting shops to meet the demands associated in the modern system. Hence, the need for effective, faster and more efficient means of operations was developed to ease the heavy task of labour and stress which the old system encountered in the previous years.
- The manual system has in the past increased high level of insecurity, in Nigeria. Therefore, the evolutionary trend in the technology has pushed the human race forward as concerned with salary sectors.
- Time wasted of salary payment
- Time wasted in sorting out the workers in all the branches
- Lack of security, after paying the workers monthly salary, hoodlums, criminals, bad boys, etc might snatch it away from them due to their closing hours.
1.4 AIM AND OBJECTIVES OF THE STUDY
The aim of this study is to develop an online application that will help in getting the workers information and also helps in paying them their salary via bank. In achieving this aim the following specific objectives will be accomplished through the design:
- Instant Confirmation of Payment by workers
- To stop or eliminate the difficulties workers face with manual approach used during payment.
- To eliminate the error involved with the manual of salary processing.
- To save the time wasted when searching or sorting for workers data/information.
1.5 SIGNIFICANCE OF STUDY
Electronic Payment in business organization offers numerous benefits to the institutions or organizations. It account for proper financial analysis of all the fees paid or collected. It ensures adequate storage of workers information and data. Easy reference can be made using the system.
This project will illustrate how open source tools can be used for the development of web-based applications thereby making the academia aware of the benefits of using cheaper tools. This project in future will also allow other students to review the application and to think of new ways in which some components of the application will be improved or think of ways of adding new components to meet more needs.
Besides it will serve as a reference material for subsequent researchers in the same field or related topics.
1.6 SCOPE OF THE STUDY
This project work is narrowed to web-based system for online bank payment Umuofocha Nekede Owerri Imo State. It deals with the development of online bank payment system to help in the processing of workers salary and storage of workers information.
It is a side topic that involves many corporation and protocol. The Umuofocha Nekede bet9ja, was chosen so as to avoid ambiguity and to ensure that success is achieved at the shortest possible time. This project will certainly outline the method of a computerized system for payment of workers salary for Umuofocha Nekede bet9ja and other related establishments as such ensure prompt payment of workers’ salaries, timeliness of information as well as security of information.
1.6 LIMITATION OF STUDY
During the development of this project work, different challenges were encountered. These include;
- Time Frame: Limited time to carry out the research work, as the research was combined with other academic activities.
- Insufficient power supply: the nature of power supply is discouraging, after a complete research, there is no enough power supply to compile the project work electronically and this lead to the delay of this work.
- Lack of reference materials: The school library and the nearby public libraries lacked the necessary reference materials needed for the work.
1.7 DEFINITION OF TERMS
For easier understanding of unfamiliar words used in the research work, their meanings are as follows;
Administration: Is an aspect of running the organization by devising system which will run smoothly.
Bet9ja: Bet9ja is an online bookmaker company that offers betting on major sporting events operating in Nigeria.
Computer: This is electronic machine that can accept, handle and manipulate data by performing arithmetic and logic operations without human intervention usually under the control of programs.
Data: This is for runner of information. it is unprocessed fact.
Employee Data: These consist of employee’s information in the organization. It consists of the employee identification number, employee name, pay rate, bio data, contact information, payment information, personal information, employment information etc.
Employee: someone that is employed for wages or salary, especially at nonexecutive level.
Employer: someone or an organization that employs people in the organization.
Gross Pay: The gross pay is the amount an employee earns before the deductions are subtracted.
Internal Revenue Service (IRS): A states government agency that is responsible for the collection and enforcement of taxes.
Net Pay: This is the total salary amount that would be paid to an employee after all the deductions are subtracted from the gross pay.
Pay Slips: a note given to an employee when salary is being paid, detailing the amount of pay given and the tax and insurance deducted.
Payroll System: This is software which keeps the organization company’s list or records of its employees. It is often referring to the total amount of money that a company pays to its employees. It is organizing and arranges all the tasks of employee payment and the filing of employee taxes.
Payroll: A payroll is a company’s list of its employees. It term is mostly refers to as the amount of money that a company pays its employees, the company’s records of its employees’ salaries and wages, bonuses, and taxes, company’s department that calculates and pays these etc.
Salary:A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour, or other unit is paid separately, rather than on a periodic basis.
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Full Project – Design and implementation of an online salary payment system for bet9ja staff