Paycom Software Inc (PAYC)

Overview

Paycom Software, Inc. is an American technology company specializing in cloud-based human capital management (HCM) solutions delivered as software-as-a-service. Catering primarily to small and mid-sized businesses across the United States, Paycom offers comprehensive functionality and data analytics needed to streamline the entire employment life cycle, from recruitment to retirement. Established in 1998 and headquartered in Oklahoma City, Oklahoma, Paycom has emerged as a key player in the HCM market, providing an integrated suite of applications designed to enhance the management of talent acquisition, time and labor, payroll, and talent management.

Products and Services

• Talent Acquisition: Paycom's solutions in this category streamline the recruitment process by offering tools for applicant tracking, candidate tracking, background checks, on-boarding, E-Verify, and tax credit services. This comprehensive suite is designed to optimize the hiring process, making it more efficient and effective.
• Time and Labor Management: This encompasses applications like time and attendance, scheduling, time-off requests, labor allocation, and labor management reports, including advanced features such as geofencing and Microfence, a proprietary Bluetooth technology. These tools are built to simplify the monitoring and management of employees' time and labor, ensuring operational efficiency.
• Payroll: Paycom provides a robust payroll management system featuring an improved employee transaction interface, payroll and tax management, payroll card, Paycom Pay, and a Client Action Center. It also covers expense and mileage tracking, garnishment administration, and GL concierge services, facilitating an all-in-one payroll solution that ensures accuracy and compliance.
• Talent Management: Tools offered include employee self-service, compensation budgeting, performance management, position management, and Paycom Learning, alongside My Analytics for data-driven decision-making. These applications are designed to support the continuous development of employees and the overall strategic planning of the organization.
• Additional HCM Tools: Paycom's suite extends to managerial functionalities like Manager on-the-Go, Direct Data Exchange, Ask Here (for direct communication), document and checklist management, and compliance tracking. It also offers advanced benefits administration, including benefit to carrier services, benefit enrollment service, COBRA administration, and personnel action forms, among others. The platform ensures comprehensive support for managers and HR professionals, streamlining administrative tasks and compliance with government regulations.