Paycom is a public company in computer software with 1001-5000 employees founded in 1998. Paycom's reputation score is 3%, which is bad.
Paycom … Head is in the Clouds Somewhere?
It’s all going that way now folks, another cloud based service by Paycom (PAYC) a provider of Human Capital Management (HCM) offering software solutions. “Human Capital”, what does that even mean and what was wrong with Personnel Management? Remember The Prisoner, “I am not a number, I am a free man”. It’s a swanky software solution from recruitment up to retirement. They opened their doors to the world on the 31st October 2013 and their share price is hovering around USD 41.50 early June 16.
It’s a chunky price for a share and not to be sniffed at, so we drilled down and had a look at around 50 websites but only in the last year or so. We can no longer consider any reviews older than a year as lots can happen in a company in a year. We do not see the point of marking a company down if they have made serious efforts in rectifying their problems and if they pinned down some snazzy executive, this can easily be achieved in one year.
The most impressive so far is that the company’s accounts were released for year ending 31st December 2015 and their net income attributable to the company trebled in 2015 in comparison to 2014. That type of numbers is very unusual in business and is indeed very impressive but there could be a number of factors that needs to be considered. We would look into things like if this threefold is totally related turnover and not auctioning off the family silverware or in other words the fixed assets. So far, so good.
Apparently, they have found a tight niche in the market whereby Paycom’s solution does not require much customization and is purely based upon a system of record being maintained in a single database for all their Human Capital Management (HCM) processes. Well, nothing really special there in terms of a single database but impressive with regards to not requiring much hands on bespoking the software. One can read this in terms that they are forcing their clients to use their one database to fit all requirements as most companies do get hung up on their legacy systems.
So, these guys and gals at Paycom can do your recruitment, timesheet, payroll, reporting, applicant tracking, background checks, ACA payments and other taxation. Paycom can easily handle scheduling, holiday requests, obviously salaries and expenses management which is always a sore point with companies. Additionally, they can also do budgeting, compensation, performance calculations, document archiving, aligning to governmental or compliance laws, surveys and COBRA administration. It’s beginning to sound like a micro-management software and the only thing we detected that was missing is how about the toilet breaks?
So, is the above niche their little secret for the 63% hike in income for 2015?
Once again, we cannot locate a single verifiable customer testimonial and this would be our task to find a few.
Has Mr Chad Richison got the Midas Touch?
Chad Richison, the current founder, President and the Chief Executive Officer of Paycom. We couldn’t help but wonder if the man trusts anyone as he’s got all the 3 keys roles in the company and isn’t that one of the rules in resource, trust?
He was born in Tuttle, Oklahoma and took his tertiary education there too. He started his career with a large payroll company and probably spent most of time dreaming up his future, then moved to Colorado and worked for a smaller payroll company. In 1998, he made his dream happen and founded Paycom, we will surely feature Mr Richison in the future as he’s proving to be something special.The 21st April 2014 must have been a very special day for him as he floated on the New York Stock Exchange (NYSE) offering 6,645,000 shares that yielded a whopping USD 64.3 million, there must have been some champagne flowing that night!
08 Jun 2016
Data Matching (Fuzzy Search)
Possible negative reviews and complaints for Paycom
Paycom Software, Inc. - SEC
Unless we state otherwise or the context otherwise requires, the terms âPaycom,â âwe,â âus,â âourâ and the âCompanyâ refer, prior to the 2014 ReorganizationÂ ...Source