Paycom

Paycom Software, Inc., known simply as Paycom, is an American online payroll and human resource technology provider based in Oklahoma City, Oklahoma.[2][4] It is attributed with being one of the first fully online payroll providers and has offices throughout the U.S.[5] It has also been recognized by Fortune magazine as one of the fastest-growing publicly traded companies in the world and Forbes' magazine ranked it one of the top five fastest-growing publicly traded technology companies in its Fast Tech rankings.[6][7] Founded in 1998, it reported annual revenue of $737.7 million for 2019, up from $566.3 million in 2018.[8][9]

Paycom Software, Inc.
Paycom
TypePublic
IndustrySoftware SaaS HCM
Founded1998[1]
HeadquartersOklahoma City, OK, U.S.
Key people
Chad Richison (CEO, Founder)[2] Craig Boelte(CFO)
ServicesCloud-Based Payroll Services
SaaS
HRM
Revenue
  • US$737.7 million (2019)
  • US$566.3 million (2018)
[3]
Number of employees
3,765 (2019)
Websitepaycom.com

History

Paycom was founded in 1998 by Chad Richison, who had formerly worked in the payroll processing industry.[10] It began as an online payroll service provider for businesses and expanded to offer additional services including human resource management, beginning in 2001.[2] On April 15, 2014, Paycom opened for trade on the New York Stock Exchange under the ticker symbol PAYC.

In 2011, the company moved its headquarters to a new 90,000 square foot office building, remaining in Oklahoma City.[5] The same year it released additional services including E-Verify, onboarding, expense management, and document storage.[11] In 2014, Paycom built a 90,000-square-foot addition to its headquarters—effectively doubling the size of its offices.[12] In 2016, the company completed construction on a third building, bringing the total square-footage of its office space to approximately 250,000.[13] In 2018, Paycom completed construction of its fourth building on its corporate campus totaling an additional 250,000 square-feet and bringing the total size of its headquarters to approximately 500,000 square-feet.[9]

Awards and recognition

Paycom has been the recipient of numerous awards and recognition including the Service Bureau of the Year Award and being named to the Metro 50 List of Oklahoma companies with the largest growth from the previous two years.[1] Paycom was named a top workplace in Oklahoma by The Oklahoman for a fourth consecutive year, topping the list as Oklahoma's No. 1 workplace in 2016.[13] Paycom has also made Deloitte's Technology Fast 500 list for the previous two years.[13]

In 2010, it received a Stevie Award for Sales Department of the Year in the Financial Services category,[14] following up with another Stevie Award in 2011 for Best Sales Training Manager of the Year. Inc. has recognized Paycom as both a Top 100 Job Creator in 2012 and 2013[15] as well as one of the Fastest-Growing Private Companies for the years 2006 through 2014.[16] In 2014, Paycom was named to the inaugural Build 100, which recognizes less than 1.5 percent of U.S.-based companies that are noted as sustained-growth champions.[17]

Paycom ranked No. 28 among large businesses on Glassdoor's 2015 Best Places to Work in the U.S. list.[18] In 2013, Glassdoor named Paycom one of the Top Five Best Places to Work in the U.S.[19] and recognized Paycom again in 2014 as one of the Best Places to Work. Additionally, Paycom ranked in the Top 25 Most Difficult Companies To Interview list compiled by Glassdoor.[20] The same year it received the EPCOR David DeMarea Payments Innovation Award.[21]

Paycom won HR.com's Leadership 500 Excellence Awards in 2015 after earning similar honors in 2014. Paycom earned its place in the midsize company rankings based on its outstanding achievements in leadership development and programs.[22]

Paycom was named one of the Wall Street Journal’s Best Managed Companies in 2019.[23]

Paycom was added to the S&P 500 in January of 2019 and was listed among the top six on Fortune’s 2019 100 Fastest-Growing Companies List.[24][25][26][27] The list is a ranking of the world’s top three-year performers in revenues, profits, and stock returns.[26][24]

References
  1. Collinsworth, Alice (22 September 2006). "UCO grad's company earns honors for record growth". Edmond Sun. Retrieved 25 November 2013.
  2. Stafford, Jim (18 March 2008). "Paycom's work pays off, local online payroll, human resources service company extends national reach". The Oklahoman. Retrieved 25 November 2013.
  3. "Paycom 2018, Form 10-K, Filing Date February 14, 2019". secdatabase.com. Retrieved February 22, 2019.
  4. Lawson, Michael S. (2010). Leading Change in Turbulent Times: How Effective Leaders Execute Change and Land Safely in Health and Business. AuthorHouse. ISBN 978-1-4520-9289-8.
  5. Bruns, Brian (25 August 2011). "Paycom CEO predicts company growth". The Journal Record. Retrieved 25 November 2013.
  6. "Fortune 100 Fastest-growing companies". Fortune. September 11, 2017. Retrieved 27 February 2018.
  7. Konrad, Alex (23 May 2017). "Meet the fastest growing public tech companies in 2017". Forbes. Retrieved 27 February 2018.
  8. https://www.sec.gov/Archives/edgar/data/1590955/000156459019002998/payc-10k_20181231.htm
  9. https://newsok.com/article/5603385/oklahoma-city-based-paycom-stock-soars-after-second-quarter-growth
  10. Mecoy, Don (29 November 2009). "Loss leaves boss driven to succeed". The Oklahoman. Retrieved 25 November 2013.
  11. Black, Ron (26 August 2011). "Paycom Celebrates Grand Opening of New National HQ". Ron Black Radio. Retrieved 25 November 2013.
  12. Bailey, Brianna (9 June 2014). "Paycom projects growth at Oklahoma City headquarters". The Oklahoman.
  13. Money, Jack (9 February 2017). "Strong Paycom earnings report sends stock soaring". The Oklahoman.
  14. "2010 Winners – Company Paycom". The Stevie Awards for Sales & Customer Service. 2010. Retrieved 25 November 2013.
  15. Malave, Ted (24 October 2013). "OKC based Paycom named a top job creator by Inc. Magazine". KFOR-TV Channel 4. Retrieved 25 November 2013.
  16. "Paycom Becomes Eight Year Inc. 500-5000 Honoree". Retrieved 25 November 2013.
  17. "The Build 100". Inc. Retrieved 27 May 2014.
  18. Sahadi, Jeanne (9 Dec 2015). "Employees love working at these companies". CNNMoney. Retrieved 8 Jan 2015.
  19. Karol, Gabrielle (11 Dec 2013). "The Best Medium-Sized Companies to Work For and Why". Fox. Retrieved 27 May 2014.
  20. Smith, Jacquelyn (9 August 2013). "The 25 Companies That Give The Most Difficult Job Interviews". Forbes. Retrieved 25 November 2013.
  21. "Paycom received EPCOR award". The Journal Record. 4 November 2013. Retrieved 25 November 2013.
  22. "Winners Revealed for the 2014 Leadership 500 Excellence Awards". HR.com. 10 April 2014.
  23. "Explore the Management Top 250". Wall Street Journal. 2019-11-22. ISSN 0099-9660. Retrieved 2020-02-07.
  24. "100 Fastest-Growing Companies". Fortune. Retrieved 2020-06-17.
  25. "Paycom No. 6 on Fortune's list of fastest-growing companies". The Journal Record. 2019-08-16. Retrieved 2020-06-17.
  26. "Oklahoma business briefs for Aug. 17, 2019". Oklahoman.com. 2019-08-17. Retrieved 2020-06-17.
  27. Novet, Jordan (2020-01-23). "Cloud software vendor Paycom beats rival Workday into the S&P 500 because of one key metric: profit". CNBC. Retrieved 2020-06-17.
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