Paycom Launches Global HCM Solution, Expands Reach Internationally

Rhea-AI Summary

Paycom Software, Inc. (NYSE:PAYC) has launched Global HCM, a comprehensive human capital management solution designed for international businesses. This product allows employers and employees to manage HR needs in over 180 countries, supporting 15 languages. Global HCM integrates features such as Employee Self-Service and Manager on-the-Go, enhancing workforce engagement for teams across various locations. CEO Chad Richison highlighted that this launch follows two years of development, with plans to introduce Paycom's payroll functionality, Beti, globally in the forthcoming months. The solution aims to streamline HR processes, reducing reliance on multiple systems for efficient management.

Positive

• Launch of Global HCM expands Paycom's reach to over 180 countries.
• Supports management in 15 languages, enhancing accessibility.
• Integrates multiple HR functions into a single platform for efficiency.

Negative

• None.

Launch addresses increasing demand for innovative, international HCM solutions

OKLAHOMA CITY--(BUSINESS WIRE)-- Paycom Software, Inc. (“Paycom”) (NYSE:PAYC), a leading provider of comprehensive, cloud-based human capital management (“HCM”) software, announced its latest product offering, Global HCM™, allowing businesses and their domestic and international employees to manage their HR needs within one, easy-to-use system. With this product, Paycom is now able to expand access to users in more than 180 countries and is available in 15 languages and dialects.

Paycom’s Global HCM software, including Employee Self-Service^® and Manager on-the-Go^® functionality, connects human resource processes in order to drive workforce engagement throughout organizations dispersed across multiple countries. With a seamless user experience and single-database model, Paycom’s international product allows for streamlined process flow and the ability to manage all employees in one software, eliminating the need for multiple systems, data points and logins.

“After two years of software development, our Global HCM product now brings Paycom’s HCM functionality to the rest of the world and as part of our international expansion, we expect to roll out our industry-leading payroll solution, Beti^®, across the globe over the coming months,” said Chad Richison, founder, chairman and CEO of Paycom.

In addition to Employee Self-Service and Manager on-the-Go, Global HCM provides Applicant Tracking, Ask Here, Benefits Administration, Beti functionality, Clue^®, Compensation Management, Direct Data Exchange^®, Documents and Checklists, Expense Management, Government and Compliance, Onboarding, Paycom Learning, Paycom Surveys, Performance Management, Personnel Action Forms, Position Management, Push Reporting^®, Scheduling and Time and Attendance.

About Paycom

For nearly 25 years, Paycom Software, Inc. (NYSE:PAYC) has simplified businesses and the lives of their employees through easy-to-use HR and payroll technology to empower transparency through direct access to their data. And thanks to its industry-first solution, Beti^®, U.S. employees now do their own payroll and are guided to find and fix costly errors before payroll submission. From onboarding and benefits enrollment to talent management and more, Paycom’s software streamlines processes, drives efficiencies and gives employees power over their own HR information, all in a single app. Recognized nationally for its technology and workplace culture, Paycom can now serve businesses of all sizes in the U.S. and internationally.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements that look to future events and include, but are not limited to, statements regarding our business strategy; future expansion or growth plans and potential for future growth, including internationally; and the capabilities of Global HCM. In addition, forward-looking statements also consist of statements involving trend analyses and statements including such words as “anticipate,” “believe,” “could,” “expect,” “may,” “might,” “plan,” “would,” and similar expressions or the negative of such terms or other comparable terminology. These forward-looking statements speak only as of the date hereof and are subject to business and economic risks. As such, our actual results may differ materially from those set forth in the forward-looking statements as a result of the factors discussed in our filings with the Securities and Exchange Commission, including but not limited to those discussed in our most recent Annual Report on Form 10-K for the year ended Dec. 31, 2022. We do not undertake any obligation to update or revise the forward-looking statements to reflect events that occur or circumstances that exist after the date on which such statements were made, except to the extent required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005777/en/

Jason Bodin

1-800-580-4505

media@paycom.com

Source: Paycom Software, Inc.

FAQ

What is the new product launched by Paycom?

Paycom launched Global HCM, a cloud-based human capital management solution for international businesses.

In how many countries can Global HCM be accessed?

Global HCM can be accessed in over 180 countries.

What features are included in Paycom's Global HCM?

Global HCM includes Employee Self-Service, Manager on-the-Go, Applicant Tracking, Benefits Administration, and more.

What future plans does Paycom have for Global HCM?

Paycom plans to roll out its payroll solution, Beti, internationally over the coming months.

What stock symbol represents Paycom?

Paycom is represented by the stock symbol PAYC.