Paycom Company Research Report

Company Overview

• Company Name: Paycom Payroll LLC

• Mission: Automate decisions in HR and payroll to allow employees and clients to focus on more significant and impactful tasks.

• Founded: No information is available.

• Founders: No information is available.

• Key People: Co-Chief Executive Officers and Board of Directors, key members include the Chief Financial Officer and multiple senior leaders from departments such as Legal, HR, IT, and Accounting.

• Headquarters: Oklahoma City, Oklahoma.

• Number of Employees: 6,505 as of December 31, 2023.

• Revenue: No specific financial figures found.

• Renowned For: Paycom is known for its comprehensive, cloud-based human capital management (HCM) software that integrates payroll, time tracking, and benefits management, among other HR services.

Products

Paycom offers a suite of products designed to meet various HR and payroll needs, leveraging a single software database to ensure seamless integration and efficiency. Below are the primary products and services offered:

1. Payroll Software

• Beti®: Allows employees to manage their own payroll, reducing the time spent on payroll tasks by 90%.

• Vault: Facilitates expense management and payroll tax management.

2. Talent Acquisition Software

• Applicant Tracking Software: Automates the recruitment and onboarding processes.

• Enhanced Background Checks®: Ensures thorough vetting of candidates.

3. Talent Management Software

• Paycom Learning (LMS): Provides training solutions to empower employee development.

• Performance Management Software: Helps evaluate employee performance effectively.

4. Time and Labor Management Software

• Time Clocks and Terminals: Facilitates accurate time tracking.

• Scheduling Software: Optimizes employee schedules to meet organizational needs.

5. HR Management Software

• Direct Data Exchange®: Observes and measures employee software usage.

• MyCom: Ensures efficient HR communications.

Key Features

• Single Database Integration: All tools communicate effectively without data reentry or security weak points.

• Security: ISO- and SOC-certified standards ensure data protection.

• Automated Payroll and HR Processes: Enhances employee engagement by reducing human error and manual entry.

Recent Developments

New Products and Features

• GONE®: Automates time-off requests, handling 50% of approvals even before the requests are submitted.

• Automated Time and Attendance: Integrates time tracking with payroll, eliminating manual entry.

Partnerships and Corporate Social Responsibility

• Achieved over $1 million in donations to The Salvation Army of Central Oklahoma.

• Recognized by Newsweek for commitment to diversity.

Additional Developments

• Increased charity initiatives, including contributions to veteran mental health and hunger relief programs.

• Expansion of diversity, equity, and inclusion programs, fostering employee resource groups and comprehensive employee benefits.

Awards and Recognition

• Named among the best employers for tech workers by Forbes.

• Honored for positive workplace culture and outstanding benefits, including support for employee mental health and well-being.

Overall, Paycom continues to lead in the HR tech industry by continuously innovating and offering comprehensive solutions that ensure seamless HR and payroll services while maintaining a strong commitment to corporate social responsibility and employee satisfaction.