Paycom Company Overview
What is the Stock Ticker for Paycom?
The stock ticker for Paycom is PAYC.
Where is the Paycom headquarters?
Paycom's headquarters is located in Oklahoma City, Oklahoma, United States.
What Does Paycom Do?
Paycom is a cloud-based human capital management software company that provides payroll and HR solutions to businesses of all sizes. Their platform includes features such as time and attendance tracking, benefits administration, talent acquisition, and more. Paycom aims to streamline HR processes and improve employee engagement and productivity.
How Does Paycom Make Money?
Paycom is a software company that provides cloud-based human capital management (HCM) solutions to businesses of all sizes. The company generates revenue by charging its clients a subscription fee for access to its software platform and services.
Paycom's HCM software platform includes a range of features such as payroll processing, time and attendance tracking, benefits administration, talent acquisition, and performance management. The company's clients pay a monthly or annual subscription fee based on the number of employees they have and the specific features they require.
In addition to its core HCM software platform, Paycom also generates revenue from additional services such as tax filing and compliance, employee background checks, and employee self-service tools. These services are offered as add-ons to the core platform and are charged on a per-employee basis.
Paycom also generates revenue from interest earned on client funds held in escrow for payroll processing. The company holds these funds until they are disbursed to employees and earns interest on the balance in the meantime.
Overall, Paycom's revenue model is based on providing a comprehensive HCM software platform and related services to businesses for a recurring subscription fee. The company's focus on innovation and customer service has helped it to grow rapidly and become a leader in the HCM software market.
Who Founded Paycom?
The founder of Paycom is Chad Richison.
What is the History of Paycom?
Paycom is a human resources and payroll software company that was founded in 1998 by Chad Richison. The company is headquartered in Oklahoma City, Oklahoma, and has grown to become one of the leading providers of cloud-based HR and payroll solutions in the United States.
Paycom started as a small startup with just a handful of employees, but quickly gained traction in the market due to its innovative technology and commitment to customer service. The company went public in 2014 and has since expanded its offerings to include a range of HR and payroll services, including time and attendance tracking, benefits administration, and talent management.
Today, Paycom serves more than 31,000 clients across a wide range of industries, including healthcare, retail, hospitality, and manufacturing. The company has received numerous awards and accolades for its technology and customer service, and continues to innovate and expand its offerings to meet the evolving needs of its clients.
What Industry is Paycom In?
Paycom is in the payroll and hr software industry.
What Are Paycom's Competitive Advantages?
1. Comprehensive HR solutions: Paycom offers a wide range of HR solutions, including payroll processing, time and attendance tracking, benefits administration, talent management, and more. This comprehensive suite of services gives the company a competitive edge over other HR software providers that offer only a few services.
2. User-friendly technology: Paycom's software is designed to be user-friendly and intuitive, making it easy for employees and HR professionals to navigate. This ease of use sets Paycom apart from competitors that may have more complex or difficult-to-use software.
3. Customizable solutions: Paycom's software can be customized to meet the specific needs of each client, allowing businesses to tailor their HR solutions to their unique requirements. This flexibility gives Paycom an advantage over competitors that offer one-size-fits-all solutions.
4. Exceptional customer service: Paycom is known for its exceptional customer service, with dedicated support teams available to assist clients with any questions or issues they may have. This commitment to customer service sets Paycom apart from competitors that may not offer the same level of support.
5. Continuous innovation: Paycom is constantly innovating and improving its software to stay ahead of the curve and meet the evolving needs of its clients. This commitment to innovation gives Paycom a competitive advantage over competitors that may be slower to adapt to changing market trends and customer needs.
What Are Paycom's Competitive Threats?
1. Increased competition from other HR software providers: As the HR software market continues to grow, Paycom faces increased competition from other providers such as ADP, Workday, and Oracle.
2. Economic downturns: Economic downturns can lead to decreased demand for HR software and services, which could negatively impact Paycom's revenue and growth.
3. Technological advancements: Rapid technological advancements could lead to the development of new and more advanced HR software, which could make Paycom's offerings less competitive.
4. Cybersecurity threats: As a provider of HR software, Paycom holds sensitive employee data, making it a potential target for cyber attacks. A successful attack could damage Paycom's reputation and lead to loss of customers.
5. Regulatory changes: Changes in labor laws and regulations could impact Paycom's business operations and require significant changes to its software and services. Failure to comply with these changes could result in legal and financial penalties.
Who Are Some of the Competitors of Paycom?
Some of the competitors of Paycom include ADP, Paychex, Gusto, Zenefits, and BambooHR.
What Are Some of Paycom's Products and Services?
Some notable products and services from Paycom include payroll processing, HR management, time and attendance tracking, talent acquisition, and onboarding. They also offer employee self-service tools, compliance management, and reporting and analytics features.
Has Paycom Acquired any Companies?
Yes, Paycom has made several notable acquisitions, including the HR software company XpressPayroll in 2011, the online benefits enrollment platform CA$HIN in 2013, and the background check provider Newton Software in 2018.