We are a leading provider of a comprehensive, cloud-based HCM software solution
delivered as SaaS. We provide functionality and data analytics that businesses
need to manage the complete employment life cycle from recruitment to retirement.
Our solution requires virtually no customization and is based on a core system
of record maintained in a single database for all HCM functions, including talent
acquisition, time and labor management, payroll, talent management and human
resources (“HR”) management applications. Our user-friendly software
allows for easy adoption of our solution by employees, enabling self-management
of their HCM activities in the cloud, which reduces the administrative burden
on employers and increases employee productivity.
Organizations need sophisticated, flexible and intuitive applications that
can quickly adapt to their evolving HCM requirements, streamline their HR processes
and systems and enable them to control costs. We believe that the HCM needs
of most organizations are currently served either by multiple providers in an
attempt to replicate a comprehensive SaaS product or, to a lesser extent, by
legacy providers offering outdated on-premise products. These approaches often
result in challenges with system integration and data integrity, low scalability,
high costs, extended delivery times and large up-front capital requirements.
Because our solution was developed in-house and is based on a single platform,
there is no need to integrate, update or access multiple databases, which are
common issues with competitor offerings that use multiple third-party systems
in order to link together their HCM offerings. Additionally, our solution maintains
data integrity for accurate, actionable and real-time analytics and business
intelligence and helps clients minimize the risk of compliance errors due to
inaccurate or missing information. We deliver feature-rich applications while
maintaining excellence in information security and quality management standards
as evidenced by our International Organization for Standardization (“ISO”)
certifications.
We sell our solution directly through our internally trained, client-focused
and highly skilled sales force based in offices across the United States. As
a part of our client retention effort, a specialist within a dedicated team
is assigned to each client to provide industry-leading, personalized service.
The Paycom Solution
We offer an end-to-end SaaS HCM solution that provides our clients and their
employees with immediate access to accurate and secure information and analytics
at any time from any location where internet is available. We believe that our
solution delivers the following benefits:
Comprehensive HCM Solution
Our solution offers functionality that manages the entire employment life cycle
for employers and employees, from recruitment to retirement. Our user-friendly
applications streamline client processes and provide clients and their employees
with the ability to directly access and manage administrative processes, including
applications that identify candidates, on-board employees, manage time and labor,
administer payroll deductions and benefits, manage performance, terminate employees
and administer post-termination health benefits such as COBRA. The widespread
employee usage of our applications helps further integrate our solution into
the administrative processes of our clients. Our solution also has the advantage
of being built in-house by our highly trained and skilled team of software developers,
thereby minimizing data integrity issues across applications.
Core System of Record
Our solution is based on a core system of record that contains payroll and
HR information in one convenient database, thereby reducing costs and eliminating
the need for multiple software products and vendors and the maintenance of employee
data in numerous databases. This core system of record enables our clients to
input employee data one time and enjoy seamless functionality across our applications.
When a revision is made to the file of an employee, all appropriate personnel
have access to the change in real time. In addition, our core system of record
helps clients minimize the risk of compliance errors due to inaccurate or missing
information that results from maintaining multiple databases. Through accurate
tracking and management of employee payroll and other HR data, such information
can be compiled for comprehensive and consistent reporting for our clients.
Data Analytics and Business Intelligence
Our solution’s core system of record allows clients to strategically
analyze comprehensive and accurate employee information to make informed business
decisions based upon actionable, real-time analytics provided through our client
dashboard. This functionality helps our clients operate with a more complete
and accurate picture of their organization, as our solution’s embedded
analytics capture the content and context of everyday business events, facilitating
fast and informed decision-making from any location. These tools help clients
reduce administrative and operational costs and better manage talent.
Enhanced Employee Experience
The employees of our clients also benefit from our HCM applications. As workforces
transition from technology-savvy to technology-dependent, employees expect mobile
technology and the resources necessary to readily access information and control
their professional development. Through our employee self-service technology,
employees can view real-time HR information, including pay stubs, W-2s and benefits
information, as well as manage their schedules and vacation time and update
W-4 contact information. Our mobile apps – available on both the App Store
and Google Play – make it easier for employees to access their self-service
information. Our apps have fingerprint and facial recognition capabilities,
aiding employers in their efforts to engage technology-savvy workers. Our system
also allows employers to engage their workforce through learning management
courses and training paths, surveys and performance goals and reviews.
Personalized Support Provided by Trained Personnel
Our applications are supported by one-on-one personal assistance from trained
specialists. Service specialists are assigned to specific clients and are trained
across all of our applications, ensuring they provide comprehensive, expert-level
service. Our client service is ISO 9001:2008 certified on the basis of its quality
and consistency. We strive to provide our clients with high levels of service
and support to ensure their continued use of our solution for all of their HCM
needs.
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