Paycom Software Inc

F:0PY

Business Description

Sector

Industrials

Industry

Professional Services

Headquarters

United States of America US

Employees

5 770

IPO date

Apr 15, 2014

Paycom Software sells cloud-based payroll and human resources software to businesses. Its system helps companies pay employees, track time and attendance, manage benefits, handle hiring and onboarding, and keep employee records in one place. The main customers are employers that want to run HR and payroll work through a single software system instead of using many separate tools.

Paycom makes money mainly by charging customers subscription fees for access to its software and related services. It also earns revenue from setup, support, and other service work tied to getting the system running and keeping it operating for customers. Because payroll and HR are recurring needs, many customers use the platform every pay cycle and for day-to-day workforce administration.

What makes Paycom different is its focus on a single-database model and employee self-service. The company tries to reduce manual work by letting employees and managers enter and update their own information, which helps cut errors and back-and-forth between departments. In the software industry, Paycom acts as a specialized back-office provider that sits at the center of how a business pays people and manages employee data.