Paycom Software, Inc. (0PY)

Overview

Paycom Software, Inc. is a prominent provider of cloud-based human capital management (HCM) solutions, catering primarily to small and mid-sized companies across the United States. Established in 1998 and headquartered in Oklahoma City, Oklahoma, Paycom revolutionizes the way businesses manage the entire employment lifecycle, from recruitment to retirement. Their software-as-a-service platform offers a comprehensive suite of applications designed to streamline operations, enhance data analytics capabilities, and improve overall employment life cycle management for their clients.

Products and Services

Paycom Software, Inc. delivers a wide range of HCM solutions, detailed as follows:

• Talent Acquisition: This suite includes tools like applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services. It’s designed to streamline the hiring process, making it easier for businesses to find and onboard the right talent.
• Time and Labor Management: Features include time and attendance tracking, scheduling, time-off requests, labor allocation, and advanced reporting capabilities. Geofencing/geotracking and Microfence, a proprietary Bluetooth technology, are also offered, enhancing labor management efficiency.
• Payroll Applications: Paycom provides a robust payroll system, including enhanced employee transaction interfaces, payroll and tax management, a payroll card, and various tools for expense management, mileage tracking, garnishment administration, and General Ledger (GL) concierge services.
• Talent Management: Their talent management applications offer features like employee self-service, compensation budgeting, performance management, position management, and Paycom Learning, alongside My Analytics for deeper insights into talent management metrics.
• Manager on-the-Go: This mobile application allows supervisors and managers to perform various tasks remotely, such as approving time-off requests and expense reimbursements, thereby increasing managerial efficiency.
• Compliance Tools: Paycom also provides a range of tools for managing government and compliance requirements, including benefits administration, COBRA administration, personnel actions, performance discussion forms, surveys, 401(k) reporting, and Affordable Care Act applications.
• Health and Safety: With Clue, Paycom offers a tool that securely collects, tracks, and manages vaccination and testing data of the workforce, aiding companies in maintaining a healthy and safe working environment.