Paycom

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Wikipedia

Paycom Software, Inc.
Paycom
Company typePublic
ISINUS70432V1026
Industry
Founded1998; 27 years ago (1998)[1]
FounderChad Richison
HeadquartersOklahoma City, Oklahoma, U.S.
Area served
  • United States
  • Canada
  • Mexico
  • United Kingdom
  • Ireland
Key people
  • Chad Richison (CEO)
  • Randy Peck (COO)
  • Bob Foster (CFO)
  • Shane Hadlock (CCO and CTO)
ServicesCloud-Based Payroll Software
SaaS
HCM
RevenueIncrease US$1.88 billion (2024)
Increase US$634 million (2024)
Increase US$502 million (2024)
Total assetsIncrease US$5.86 billion (2024)
Total equityIncrease US$1.58 billion (2024)
Number of employees
  • Steady 7,300 (2024)
Websitepaycom.com
Footnotes / references
Financials as of December 31, 2024.[2]

Paycom Software, Inc., known simply as Paycom, is an online payroll and human resource software provider based in Oklahoma City, Oklahoma with offices throughout the United States.[3][4] It is attributed with being one of the first fully online payroll providers.[5] Founded in 1998, it reported annual revenue of $1.883 billion for 2024, up from $1.694 billion for 2023.[6][7]

History

Paycom was founded in 1998 by Chad Richison, who previously worked in the payroll processing industry.[8] It began as an online payroll service provider for businesses, and expanded to offer additional services including human resource management in 2001.[3] On April 15, 2014, Paycom opened for trade on the New York Stock Exchange under the ticker symbol PAYC.

In 2011, it released additional services including E-Verify, onboarding, expense management, and document storage.[9] In 2014, Paycom built a 90,000-square-foot addition to its headquarters—effectively doubling the size of its offices.[10] The company completed construction on its third and fourth buildings (in 2016 and 2018, respectively). In 2024, it opened its fifth building, bringing the total square-footage of its corporate campus to 815,000.[11][12][13] In May 2022, Paycom held a grand opening ceremony for a new 150,000 square-foot operations center in Grapevine, Texas.[14]

CEO Chad Richison was the highest paid executive in the United States in 2020, earning $211.13 million from Paycom as part of a 10-year performance contract. The compensation consists mostly of stock shares that only vest if the company reaches specific stock price benchmarks by 2026 and 2030.[15][16]

In 2021, Paycom announced the release of Beti®, an enhancement to its payroll system allowing employees to complete their own payroll.[17] Later that year, they bought the naming rights to the Paycom Center, home of the Oklahoma City Thunder.[18]

In April 2023, Paycom launched Global HCM™, a human capital management software available in over 190 countries and 15 languages and dialects.[19]

In December 2023, Paycom announced its next step in HR automation, GONE®, an enhancement to existing Time-Off Request software.[20]

In July 2025, Paycom launched IWant™,[21] a command-driven AI engine allowing users to seek information about employee data without having to navigate through the software.[22]

References

  1. ↑ Collinsworth, Alice (22 September 2006). "UCO grad's company earns honors for record growth". Edmond Sun. Retrieved 25 November 2013.
  2. ↑ "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 24, 2025.
  3. 1 2 Stafford, Jim (18 March 2008). "Paycom's work pays off, local online payroll, human resources service company extends national reach". The Oklahoman. Retrieved 25 November 2013.
  4. ↑ Lawson, Michael S. (2010). Leading Change in Turbulent Times: How Effective Leaders Execute Change and Land Safely in Health and Business. AuthorHouse. ISBN 978-1-4520-9289-8.
  5. ↑ Bruns, Brian (25 August 2011). "Paycom CEO predicts company growth". The Journal Record. Retrieved 25 November 2013.
  6. ↑ "Paycom Software, Inc. Reports Fourth Quarter and Year-End 2023 Results". investors.paycom.com. Retrieved 2025-01-30.
  7. ↑ "Paycom Software, Inc. Reports Fourth Quarter and Year-End 2024 Results". investors.paycom.com. Retrieved 2025-02-17.
  8. ↑ Mecoy, Don (29 November 2009). "Loss leaves boss driven to succeed". The Oklahoman. Retrieved 25 November 2013.
  9. ↑ Black, Ron (26 August 2011). "Paycom Celebrates Grand Opening of New National HQ". Ron Black Radio. Retrieved 25 November 2013.
  10. ↑ Bailey, Brianna (9 June 2014). "Paycom projects growth at Oklahoma City headquarters". The Oklahoman.
  11. ↑ "Oklahoma City-based Paycom stock soars after second quarter growth". Oklahoman.com. August 2, 2018.
  12. ↑ Money, Jack (9 February 2017). "Strong Paycom earnings report sends stock soaring". The Oklahoman.
  13. ↑ "The Oklahoman Subscription Offers, Specials, and Discounts". subscribe.oklahoman.com. Retrieved 2025-01-18.
  14. ↑ "S&P 500 giant Paycom opens highly anticipated Grapevine center, its second-largest office". Dallas News. 2022-05-11. Retrieved 2022-06-02.
  15. ↑ Gelles, David (2021-04-24). "C.E.O. Pay Remains Stratospheric, Even at Companies Battered by Pandemic". The New York Times. ISSN 0362-4331. Retrieved 2021-04-25.
  16. ↑ Reuter, Dominick. "The CEO of a company you've probably never heard of earned $211 million in compensation last year — and the title of highest-paid chief executive, according to a new ranking". Business Insider. Retrieved 2021-05-20.
  17. ↑ Griffin, David. "Paycom Launches New Self-Managed Payroll System". www.news9.com. Retrieved 15 July 2021.
  18. ↑ Crain, Nick. "Thunder Announce 15-Year Naming Rights Agreement With Oklahoma City-Based Paycom". Forbes.
  19. ↑ "Paycom Launches Global HCM Solution, Expands Reach Internationally". TecHR. 2023-04-10. Retrieved 2025-03-04.
  20. ↑ Barth, Jill (2024-08-27). "Unveiling the winners: 2024 Top HR Tech Products of the Year". HR Executive. Retrieved 2025-01-24.
  21. ↑ Links, May Contain Affiliate (2025-08-21). "HR Executive Announces Top HR Products of 2025, AI solutions like Paycom's IWant rise to top". www.dailycal.org. Retrieved 2025-08-22.
  22. ↑ "Paycom launches IWant AI engine for employee data access". StreetInsider.com. Retrieved 2025-07-30.
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