Latest news with #ChadRichison
Yahoo
12 hours ago
- Business
- Yahoo
New Study Demonstrates Benefits of Paycom's Automated, Single Software
OKLAHOMA CITY, June 25, 2025--(BUSINESS WIRE)--Paycom Software, Inc. (NYSE: PAYC) ("Paycom"), a leading provider of comprehensive, cloud-based human capital management software, revealed findings from a study conducted by Forrester Consulting on the potential benefits gained through Paycom's full-solution automation and single-database software.* According to the Forrester Total Economic Impact™ (TEI) study, a composite organization representative of interviewed Paycom clients experienced a three-year 362% return on investment (ROI). Paycom's software is built upon a true single database to streamline performance and communication with a continuous and automated flow of workforce data. This design helps maintain data integrity and allows Paycom's HCM tools to work together for an automated, uninterrupted management of the employee life cycle. "Paycom is the most automated solution in the industry, and our clients frequently attest to that," said Chad Richison, Paycom founder and CEO. "By prioritizing full-solution automation, we are creating value, driving efficiency and allowing our clients to achieve even greater ROI." According to the study, the composite organization experienced several advantages following the implementation of Paycom, including: over 45% in total time saved by HR annually an 80% reduction in time spent on compliance work $300,000 annual savings due to a single database allowing better data visibility and analytics A director of HR in the entertainment industry interviewed for the study told Forrester, "The ROI for Paycom is definitely there, given the amount of time that we save by having one solution to manage versus having different integrations. This helps us from an HR-staffing perspective." In a separate recent study of HR leaders nationwide, Forrester found companies use an average of 6.17 HCM providers — with 80% of respondents indicating disparate or duplicate employee data negatively impacts their ability to create accurate workforce reports.† In contrast, the Forrester TEI study found Paycom's single database can provide cleaner data and robust analytics, all in real time, which may enable added business benefits such as company growth and cost savings. A chief HR officer in the consumer goods industry interviewed for the study told Forrester, "The analytics provided with Paycom have really helped at the business strategy level and let us understand where our turnover is, where cost savings can be seen, and where we should be investing more." Paycom commissioned the Forrester TEI study, The Total Economic Impact™ Of Paycom: Cost Savings And Business Benefits Enabled By Paycom, to examine the potential return on investment businesses may realize by deploying Paycom's automated, single-database software across the entire employee life cycle. For the purposes of this study, Forrester aggregated the experiences of the interviewees and combined the results into a single composite organization of 500 employees, including six HR employees and 40 managers. The composite organization also uses various Paycom tools across all five suites and, prior to deploying Paycom, used a legacy provider that lacked a unified solution. To learn more about how Paycom benefits organizations, visit * A commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Paycom, June 2025. † "Single-Database HCM Solutions Drive Cross-Business Success," a commissioned study conducted by Forrester Consulting on behalf of Paycom, May 2025. 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
Business Wire
13 hours ago
- Business
- Business Wire
New Study Demonstrates Benefits of Paycom's Automated, Single Software
OKLAHOMA CITY--(BUSINESS WIRE)-- Paycom Software, Inc. (NYSE: PAYC) ('Paycom'), a leading provider of comprehensive, cloud-based human capital management software, revealed findings from a study conducted by Forrester Consulting on the potential benefits gained through Paycom's full-solution automation and single-database software. * According to the Forrester Total Economic Impact ™ (TEI) study, a composite organization representative of interviewed Paycom clients experienced a three-year 362% return on investment (ROI). Paycom revealed findings from a study conducted by Forrester Consulting on the potential benefits gained through Paycom's full-solution automation and single-database software. Share Paycom's software is built upon a true single database to streamline performance and communication with a continuous and automated flow of workforce data. This design helps maintain data integrity and allows Paycom's HCM tools to work together for an automated, uninterrupted management of the employee life cycle. 'Paycom is the most automated solution in the industry, and our clients frequently attest to that,' said Chad Richison, Paycom founder and CEO. 'By prioritizing full-solution automation, we are creating value, driving efficiency and allowing our clients to achieve even greater ROI.' According to the study, the composite organization experienced several advantages following the implementation of Paycom, including: over 45% in total time saved by HR annually an 80% reduction in time spent on compliance work $300,000 annual savings due to a single database allowing better data visibility and analytics A director of HR in the entertainment industry interviewed for the study told Forrester, 'The ROI for Paycom is definitely there, given the amount of time that we save by having one solution to manage versus having different integrations. This helps us from an HR-staffing perspective.' In a separate recent study of HR leaders nationwide, Forrester found companies use an average of 6.17 HCM providers — with 80% of respondents indicating disparate or duplicate employee data negatively impacts their ability to create accurate workforce reports. † In contrast, the Forrester TEI study found Paycom's single database can provide cleaner data and robust analytics, all in real time, which may enable added business benefits such as company growth and cost savings. A chief HR officer in the consumer goods industry interviewed for the study told Forrester, 'The analytics provided with Paycom have really helped at the business strategy level and let us understand where our turnover is, where cost savings can be seen, and where we should be investing more.' Paycom commissioned the Forrester TEI study, The Total Economic Impact™ Of Paycom: Cost Savings And Business Benefits Enabled By Paycom, to examine the potential return on investment businesses may realize by deploying Paycom's automated, single-database software across the entire employee life cycle. For the purposes of this study, Forrester aggregated the experiences of the interviewees and combined the results into a single composite organization of 500 employees, including six HR employees and 40 managers. The composite organization also uses various Paycom tools across all five suites and, prior to deploying Paycom, used a legacy provider that lacked a unified solution. To learn more about how Paycom benefits organizations, 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.
Business Wire
19-05-2025
- Business
- Business Wire
Fragmented HCM systems jeopardize business efficiency, Paycom research reveals
OKLAHOMA CITY--(BUSINESS WIRE)-- Paycom Software, Inc. (NYSE: PAYC) ('Paycom'), a leading provider of comprehensive, cloud-based human capital management software, discovered surveyed businesses rely on an average of 6.17 HCM providers to manage the employee life cycle, according to a Forrester Consulting study commissioned by Paycom. Respondents using multiple providers cited problems with data accuracy, which obstructs timely and effective workforce reporting. 'Businesses with multiple HR platform solutions compromise data integrity and create a poor user experience for their employees,' said Chad Richison, Paycom founder and CEO. 'Our single-database software eliminates duplicative efforts and allows for standard processes to be automated and adopted throughout the system.' According to the study, around a third of surveyed HR professionals seek to improve workforce analytics and reduce compliance risk over the next 12 to 24 months. Yet, 77% of respondents store employee data across multiple HCM databases, with 71% unable to transfer the employee data across the different platforms. In effect, 4 in 5 respondents experience issues with workforce reporting due to inaccurate data. In contrast, Paycom's single-database software is designed to maximize full-solution automation for HR and payroll professionals, providing a seamless and accurate experience without the inefficiencies associated with integrating multiple systems. When asked, 91% of respondents expressed interest in a single HCM software built in one database. Moreover, 84% believe this would have a positive impact on their business goals, with improved data accuracy being the top expected benefit. The Forrester Consulting Opportunity Snapshot of 217 HCM technology strategy leaders was commissioned by Paycom in May 2025. An infographic about the study, Single-Database HCM Solutions Drive Cross-Business Success, can be found here. To learn more about Paycom's single-software solution, 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.
Yahoo
10-05-2025
- Business
- Yahoo
Paycom Makes Solid Progress
Paycom put up better first-quarter numbers than most investors were expecting, although revenue growth slowed to 6%, and gains in adjusted net income were limited to less than 8%. Founder/CEO Chad Richison commented on the automation-centered approach that Paycom is taking as a driver of growth, along with good sales execution and gains in operational efficiency. A modest increase in guidance for the full 2025 year also lifted shareholders' spirits somewhat. 10 stocks we like better than Paycom Software › Here's our initial take on Paycom Software's (NYSE: PAYC) first-quarter financial report. Metric Q1 2024 Q1 2025 Change vs. Expectations Production-adjusted revenue $499.9 million $530.5 million +6% Beat Adjusted earnings per share $2.59 $2.80 +8% Beat Adjusted EBITDA $229.5 million $253.2 million +10% n/a Recurring revenue $466 million $500 million +7% n/a Paycom issued an upbeat financial report for the first quarter of 2025, even though investors had to settle for slower growth rates than they've seen in the past. Revenue came in up a bit over $30 million from year-ago levels, and that caused growth rates to fall from double-digit percentages in the fourth quarter to mid-single-digit percentages. Similarly, growth in adjusted net income was fairly sluggish, although adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) managed to post a 10% gain year over year. Founder/CEO Chad Richison's comments were generally similar to what he's been saying in past quarters. The leader emphasized the role that automation is playing in the business and pointed to measures to make Paycom's internal business more efficient as well as greater efforts to boost sales conversions. Paycom also modestly boosted its full-year 2025 guidance. The company now expects between $2.023 billion and $2.038 billion in revenue for the year, up between $3 million and $8 million from previous projections. Adjusted EBITDA got a much larger boost of $18 million to $23 million, setting a new range of $843 million to $858 million. Even with the somewhat slow growth rate, Paycom managed to exceed lowered expectations among investors. It therefore wasn't surprising to see the stock climb about 2% in the first hour of after-hours trading Wednesday afternoon following the report's release. Unlike many software stocks, Paycom has stayed relatively close to its highest levels from late 2024. However, the shares remain well below their 2021 peak, reflecting the reset in expectations investors have made as growth has slowed. Investors will want to keep a close eye on future results from Paycom as the company's clients adjust to changing macroeconomic conditions. Many economists are forecasting a possible recession. If businesses need to cut back on software spending to make ends meet, Paycom could see further pressure on future sales gains. In the meantime, though, Paycom will have to redouble its efforts to get its sales team to close deals effectively and efficiently. At some point, investors will want to see Paycom's growth accelerate considerably to get the stock moving more assertively in the right direction. Full earnings release Investor relations page Watch this video on whether Paycom is a buy Before you buy stock in Paycom Software, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Paycom Software wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $623,103!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $717,471!* Now, it's worth noting Stock Advisor's total average return is 909% — a market-crushing outperformance compared to 162% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 5, 2025 Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Paycom Software. The Motley Fool has a disclosure policy. Paycom Makes Solid Progress was originally published by The Motley Fool 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
Yahoo
27-03-2025
- Business
- Yahoo
Paycom Earns Most Trustworthy Company in America Award for Fourth Consecutive Year
OKLAHOMA CITY, March 27, 2025--(BUSINESS WIRE)--Paycom Software, Inc. (NYSE: PAYC) ("Paycom"), a leading provider of comprehensive, cloud-based human capital management software, was named one of the Most Trustworthy Companies in America 2025 by Newsweek. This is Paycom's fourth consecutive year to receive this award. "This honor validates the success of our client-focused initiatives, and I'm pleased to see continued recognition of the trust we've built with those we serve," said Chad Richison, Paycom founder and CEO. The winners were determined through a comprehensive trust assessment involving three primary groups: customers, investors and employees. "Paycom has lived up to their promises," said a Paycom client from a real estate company with 51-200 employees via a TrustRadius review. "We've had a great experience understanding how Paycom can support us as we continue to grow, with offerings available all in one system. We appreciate their accuracy, reliability and the peace of mind that comes with knowing our employees are paid correctly and on time." Paycom's single database combines all HR and payroll data in one place, providing a seamless and compliant experience without the errors and inefficiencies associated with integrating multiple systems. This approach helps companies maintain data integrity and allows for uninterrupted management of the employee life cycle. Paycom also employs comprehensive, industry-proven technologies to protect client data and privacy. All public and private companies headquartered in the U.S. with revenue of over $500 million were eligible for consideration as America's most trustworthy companies. The multistep analysis process was based on an extensive independent survey of over 25,000 U.S. participants as well as data collected across various media segments using methods of social listening. To learn more about Paycom's single-database software, 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 nationally 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@
