Trading name Paycom Software, Inc. Traded as NYSE: PAYC CEO Chad Richison Founded 1998 | Type Public Industry Software SaaS HCM CFO Craig E. Boelte | |
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Key people Chad Richison (CEO, Founder)Craig Boelte(CFO) Services Cloud-Based Payroll Services
SaaS
HRM Stock price PAYC (NYSE) US$ 54.94 +0.85 (+1.57%)24 Mar, 4:02 PM GMT-4 - Disclaimer Headquarters Oklahoma City, Oklahoma, United States Profiles | ||
Paycom Software, Inc., known simply as Paycom, is an American online payroll and human resource technology provider based in Oklahoma City, Oklahoma. It is attributed with being one of the first fully online payroll providers and has offices throughout the U.S. It has also been recognized by Inc. magazine as one of the fastest-growing private companies in the U.S. based on annual revenue growth. Founded in 1998, it reported annual revenue of $329.1 million for 2016, up from $224.70 million for 2015 and 150.929 million in 2014.
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History
Paycom was founded in 1998 by Chad Richison who had formerly worked in the payroll processing industry. It began as an online payroll service provider for businesses and expanded to offer additional services including human resource management beginning in 2001. In 2007 Richison sold a stake of Paycom to Welsh Carson Anderson and Stowe, a private equity group based in New York, and stayed on as the company's CEO.
In 2011, the company moved its headquarters to a new 90,000 square foot office building, remaining in Oklahoma City. The same year it released additional services including E-Verify, onboarding, expense management, and document storage. In 2014, Paycom built a 90,000-square-foot addition to its headquarters—effectively doubling the size of its offices. In 2016, the company completed construction on a third building, bringing the total square-footage of its office space to approximately 250,000.
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. 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. Paycom has also made Deloitte's Technology Fast 500 list for the previous two years.
In 2010, it received a Stevie Award for Sales Department of the Year in the Financial Services category, 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 as well as one of the Fastest-Growing Private Companies for the years 2006 through 2014. 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.
Paycom ranked No. 28 among large businesses on Glassdoor's 2015 Best Places to Work in the U.S. list. In 2013, Glassdoor named Paycom one of the Top Five Best Places to Work in the U.S. 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, a recognition shared with companies like Google, Facebook, and Microsoft. The same year it received the EPCOR David DeMarea Payments Innovation Award.
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.