Paycom is proving to be a force to be reckoned with in the human capital management and payroll sectors. The company was founded by Chad Richison, who was no stranger to the employee payroll world when deciding to start his own company in 1998. Paycom has since seen massive growth and enjoys a reputation as one of the first companies to have provided payroll services entirely online. The company continues to run the show, with rapid growth as more clients sign on.

Paycom has completely revolutionized how businesses manage major HR processes. With tomorrow’s innovations and today’s solutions, the tech company is beneficial to both small, midsized and larger employers. 

Paycom CEO Looks to the Future

Paycom is sitting at the forefront of HR and Payroll software transformation. It was the first company to introduce employee-driven payroll management software to the business world and the Paycom team continues to introduce more adept and user-friendly technology created with the same ideas in mind.  

In a recent conference call, CEO Chad Richison acknowledged the positive reception obtained with Paycom’s solutions over the years. He noted that the company has “extended our platform to the employee even further through innovations like Beti, which enables employees to do their own payroll, and we are seeing very strong adoption and record employee usage.”  

In the last 20 years, Paycom has tapped into a very important part of the market with its payroll and HR cloud-based technology. Paycom has seen high double-digit percentage growth year over year for the last decade. And now with every business landscape shifting and the HR tech business growing and diversifying, those numbers have continued in recent earnings reports.

Beti

Paycom boasts a wide range of technology. From Paycom Pay to GL Concierge to Expense and Payroll Tax Management, Paycom’s cutting-edge technology has propelled the company into a leadership position in the human capital management industry. But there is one creation that has challenged traditional payroll management and simplified the way companies execute payroll services going forward.

This recently revealed and significant innovation is called Beti. Beti stands for Better Employee Transaction Interface. It redefines the payroll process for companies by giving employees the chance to verify it themselves. This payroll solution guides employees to identify errors and helps them find the solutions before payroll is submitted. Beti promotes improved data accuracy, reduces employer liability, increases process oversight, and gives employees unparalleled insight into their pay to heighten employee trust. 

For Employers

Beti benefits both the boss and the employee at the same time. For leadership, its streamlines HR processes across the board, reducing company liability and basically eliminates the data re-entry process with fewer payroll mistakes. It also lessens payroll and funding fees attributed to corrections and adjustments made after submission, via fewer direct deposit reversals, manual checks, and general ledger voids. All these benefits come simply by giving the payroll reins to your employees. 

For Employees

For your employees, Beti gives them full insight into the details of their paycheck before payroll is submitted and run. Beti also guarantees employees will gain insight into the variation in pay due to their tax withholdings, expenses or even how a raise might enhance it. It also alerts employees when they need to act to resolve errors before payday arrives. To promote transparency and trust, Beti provides a guided approval process for employees to sign off on checks prior to payroll submission and offers advanced pay out amounts to help them avoid insufficient funding blunders.

Beti allows your business leadership the time and energy to grow by putting the payroll process back into the hands of those who deserve ownership of their own time and money: your people.

Accolades for Paycom

Recent awards given to Paycom include:

• Fast Company’s Most Innovative Enterprise Companies of 2022
• Newsweek America’s Most Trusted Companies – 2022  
• Top HR Product from Human Resources Magazine – 2021, 2020, 2019
• America’s Best Midsize Employers (Forbes Magazine) – 2022
• Frontrunners Top HR Software Award – 2021, 2020

The firm’s innovation is not only winning them awards but growing its revenue at a faster rate than ever before. In 2021, Paycom earned over a billion dollars in revenue for the first time.

Final Paycom Snapshot

Paycom is undoubtedly growing fast. It is wise for any size business owner to adopt its unmatched software solutions and take note of its position on the market. One thing is for sure, with all factors considered, Paycom continues to bring the future of the payroll and human management services industries to the present.

For more information on Paycom, visit the website.