Inc. magazine today ranked Paycom No. 1,646 on its annual Inc. 500|5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Unified Payments tops this year’s list. Paycom joins Yelp, yogurt maker Chobani, Giftcards.com, KIND and famed hatmaker Tilly’s, among other prominent brands featured on this year’s list.
Paycom processes payroll for more than 8,000 customers in all 50 states; employs over 500 workers, and continues to double revenue growth every other year. While currently hiring approximately 20 new employees each month, Paycom plans to add at least 500 jobs over the next three years. In addition to their headquarters in Oklahoma City, they also have offices in Atlanta, Austin, Boston, Charlotte, Chicago, Dallas, Denver, Fort Worth, Houston, Irvine, Los Angeles, Manhattan, Miami, New Jersey, Phoenix, St. Louis, Tampa, Tulsa and Washington D.C.
“To have our success and our growth recognized by Inc. magazine for the seventh year in a row is a real honor,” said Oklahoma entrepreneur and Paycom Founder and CEO Chad Richison. “It is also proof that our business model works. We listen to our customers, provide them with the cost effective solutions they need and follow it up with first class customer support.”
Paycom provides online services designed to streamline payroll and HR processes. They eliminate the burden of installed payroll software’s purchase price, maintenance and support by providing the payroll product through Software as a Service (SaaS) over the internet. Customers enjoy a single application for Recruiting, Hiring, Payroll, Time Tracking, HRIM, Compliance, Benefits and COBRA Administration. Online convenience makes it more efficient to operate and less expensive than traditional alternatives.
In a stagnant economic environment, median growth rate of 2012 Inc. 500|5000 companies remains an impressive 97 percent. The companies on this year’s list report having created over 400,000 jobs in the past three years, and aggregate revenue among the honorees reached $299 billion.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.
The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2011. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today.
About the Inc. 500|5000 Conference
Each year, Inc. and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstars—the privately held small businesses that drive our economy. The Inc. 500|5000 Conference & Awards Ceremony brings together members of the Inc. community, both a new class of Inc. 500|5000 honorees and the list’s alumni, for three days of powerful networking, inspired learning, and momentous celebration. Please join us October 3–5, 2011, at the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona. For more information about the 2012 Inc. 500|5000 Conference & Awards Ceremony and to register, visit www.inc500conference.com or call 866-901-3205.