Will Paycom Be Acquired?

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According to a Research and Markets report, the global human capital management (HCM) market is expected to grow 9% annually over the next few years to $29.9 billion by 2023. The HCM industry includes software solutions for core HR, payroll & compensation management, performance management, learning, talent acquisition, workforce management, and benefits administration. The industry growth is expected to be fueled by the continued adoption and implementation of SaaS-based solutions.

Paycom’s Offerings

Oklahoma City-based Paycom (NYSE: PAYC) was founded in 1998 by Chad Richison as an online payroll services provider. Within a few years, the company had expanded operations to become a HCM player that focused on providing a comprehensive, cloud-based solution that helped organizations manage an employee from recruitment to retirement. Its solution provides employers with easy access to their payroll data and helps organizations by providing payroll services on a single application that lowers labor costs and drives employee engagement. Its offerings include talent acquisition, talent management, time and labor management, payroll and providing other HR services.

The company continues to release upgraded products and invest in technology to drive growth. Earlier this quarter, it released the Direct Data Exchange or DDX for all of its clients. The DDX is a highly differentiated enhancement that promotes employee self-service and reports all data changes made directly into the HCM database by employees. It also tracks any duplicative data changes that may have been input by other client representatives, thus helping organizations manage and reduce duplicate workloads.

Paycom believes that the DDX can accelerate a company’s digital transformation by empowering employees to self-manage their information by connecting directly with their HR database. The analytics generated by the solution can help businesses drive higher returns from their HR investments by monitoring and tracking usage trends real-time.

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