Latest news with #Chad Richison
Yahoo
4 days ago
- Business
- Yahoo
Paycom raises 2025 revenue and profit forecasts on AI-driven demand
(Reuters) -Payroll processor Paycom Software raised its forecast for annual revenue and profit on Wednesday, as the addition of AI features helps accelerate demand for its employee management services, sending its shares up 7% in extended trading. The company now expects fiscal 2025 revenue of $2.05 billion to $2.06 billion, up from its previous projection of $2.02 billion to $2.04 billion. Analysts on average expect $2.03 billion, according to data compiled by LSEG. Paycom has been integrating artificial intelligence features into its software with its 'smart AI' suite that automates tasks such as writing job descriptions and helps employers identify which employees are most at risk of leaving. This has boosted demand for Paycom's services as businesses look to simplify workforce management functions. "We are well positioned to extend our product lead and eclipse the industry with even greater AI and automation," CEO Chad Richison said in a statement. Paycom expects 2025 core profit in the range of $872 million to $882 million, up from previous expectations of $843 million to $858 million. The payroll processor reported revenue of $483.6 million for the second quarter ended June 30, beating analysts' estimate of $472 million. Adjusted core profit was $198.3 million, compared to $159.7 million in the same period last year. Paycom's expectation of strong growth comes despite a sharp deterioration in U.S. labor market conditions. U.S. employment growth was weaker than expected in July, while the nonfarm payrolls count for the prior two months was revised down by 258,000 jobs, according to a Labor Department report. Sign in to access your portfolio
CNA
4 days ago
- Business
- CNA
Paycom raises 2025 revenue and profit forecasts on AI-driven demand
Payroll processor Paycom Software raised its forecast for annual revenue and profit on Wednesday, as the addition of AI features helps accelerate demand for its employee management services, sending its shares up 7 per cent in extended trading. The company now expects fiscal 2025 revenue of $2.05 billion to $2.06 billion, up from its previous projection of $2.02 billion to $2.04 billion. Analysts on average expect $2.03 billion, according to data compiled by LSEG. Paycom has been integrating artificial intelligence features into its software with its 'smart AI' suite that automates tasks such as writing job descriptions and helps employers identify which employees are most at risk of leaving. This has boosted demand for Paycom's services as businesses look to simplify workforce management functions. "We are well positioned to extend our product lead and eclipse the industry with even greater AI and automation," CEO Chad Richison said in a statement. Paycom expects 2025 core profit in the range of $872 million to $882 million, up from previous expectations of $843 million to $858 million. The payroll processor reported revenue of $483.6 million for the second quarter ended June 30, beating analysts' estimate of $472 million. Adjusted core profit was $198.3 million, compared to $159.7 million in the same period last year. Paycom's expectation of strong growth comes despite a sharp deterioration in U.S. labor market conditions.
Yahoo
4 days ago
- Business
- Yahoo
Paycom raises 2025 revenue and profit forecasts on AI-driven demand
(Reuters) -Payroll processor Paycom Software raised its forecast for annual revenue and profit on Wednesday, as the addition of AI features helps accelerate demand for its employee management services, sending its shares up 7% in extended trading. The company now expects fiscal 2025 revenue of $2.05 billion to $2.06 billion, up from its previous projection of $2.02 billion to $2.04 billion. Analysts on average expect $2.03 billion, according to data compiled by LSEG. Paycom has been integrating artificial intelligence features into its software with its 'smart AI' suite that automates tasks such as writing job descriptions and helps employers identify which employees are most at risk of leaving. This has boosted demand for Paycom's services as businesses look to simplify workforce management functions. "We are well positioned to extend our product lead and eclipse the industry with even greater AI and automation," CEO Chad Richison said in a statement. Paycom expects 2025 core profit in the range of $872 million to $882 million, up from previous expectations of $843 million to $858 million. The payroll processor reported revenue of $483.6 million for the second quarter ended June 30, beating analysts' estimate of $472 million. Adjusted core profit was $198.3 million, compared to $159.7 million in the same period last year. Paycom's expectation of strong growth comes despite a sharp deterioration in U.S. labor market conditions. U.S. employment growth was weaker than expected in July, while the nonfarm payrolls count for the prior two months was revised down by 258,000 jobs, according to a Labor Department report.
Yahoo
30-07-2025
- Business
- Yahoo
Paycom unveils IWant: Command-driven AI engine with accurate, rapid results
OKLAHOMA CITY, July 30, 2025--(BUSINESS WIRE)--Paycom Software, Inc. (NYSE: PAYC) ("Paycom"), a leading provider of comprehensive, cloud-based human capital management software, today announced the launch of IWant, the industry's first command-driven AI engine that revolutionizes the way all users navigate and access their information within a single database. Users can prompt IWant by utilizing voice-to-text functionality or by simply typing a question, and the AI engine immediately provides the answer or directs them to the appropriate location to interact with their information. IWant is designed to return results that will always be accurate because it pulls from employee data entered into Paycom's single database, not from multiple sources. This eliminates issues created by duplicate or inconsistent data. IWant is available to clients on mobile through Employee Self-Service® and Manager on-the-Go® (both located in the Paycom app) and on desktop through the client login page. By eliminating navigation barriers and making employee data more accessible than ever, IWant empowers users to tap into the power of that data within Paycom's single database, regardless of their level of familiarity with the software. "IWant is the biggest release since our founding in 1998," said Chad Richison, Paycom founder and CEO. "Command-driven automation marks the beginning of the future of all software. Navigation, information gathering and asking others for information will soon become obsolete. IWant gives you all of the information and access without needing to know how to use the system." With IWant, Paycom users gain an easy, automated avenue for seeking information about employee data without having to navigate through the software. For employees: IWant assists employees with fast answers about their employee data, including time-off balances, 401(k) contribution percentages, schedules, tax withholdings, paycheck amounts, pay history, benefits and more. For HR, C-suite and managers: IWant supports HR teams and makes an organization's leaders smarter by providing instant employee information about coverage thresholds, time-off schedules, overdue trainings, pay changes, who's clocked in for the day, time-off requests, salary information, employment history, performance reviews and more. "Paycom's single database has strategically set them apart since day one, paving the way for continued breakthroughs like IWant," said Steve Boese, HR Technology Conference program co-chair. "I particularly like IWant's Executive Mode and can see how this AI engine will transform not only the way leaders interact with company data but how they lead with data moving forward." An executive in the distribution industry who participated in the client pilot of IWant was impressed with how easily and quickly he could access workforce data. "It's a night and day difference," the executive said. "IWant makes everyone a system expert, so I can access all the info I need without navigating beyond the home screen. And I don't rely on others for employee data anymore. It's a total game changer." Paycom's unique, single-database software is designed to allow for a seamless flow of data across its HR suite, eliminating inaccuracies associated with duplicate or disparate data that comes from integrating multiple systems. To learn more or watch a demo of IWant, visit About Paycom For over 25 years, Paycom Software, Inc. (NYSE: PAYC) has simplified business and employees' lives through easy-to-use HR and payroll technology to empower transparency through direct access to their data. From onboarding and benefits enrollment to talent management and more, Paycom's employee-first technology leverages full-solution automation to streamline processes, drive efficiencies and give employees power over their own HR information, all in a single app. Paycom's single database combines all HR and payroll data in one place, providing a seamless and accurate experience without the errors and inefficiencies associated with integrating multiple systems. Recognized globally for its technology and workplace culture, Paycom serves businesses of all sizes in the U.S. and internationally. View source version on Contacts Media Contact: Larisha Huntermedia@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
