The Edmond Sun

Business

September 22, 2006

UCO grad's company earns honors for record growth

EDMOND — Edmond resident and University of Central Oklahoma graduate Chad Richison, president and CEO of Paycom, an online payroll processing company, has been honored by three groups for his company’s success.

Paycom was named to the prestigious 25th annual Inc. 500 ranking of the fastest-growing private companies in the country in the September issue of Inc. Magazine. Oklahoma City-based Paycom ranks No. 156 on the list, with a three-year growth of 685.6 percent.

Paycom also won the Service Bureau of the Year Award for Mid to Large Service Bureaus from the Independent Payroll Providers Association. The award recipient must demonstrate the company achieved above-average progress in revenue growth, client growth and client retention rate and has been in the payroll business a minimum of three years.

Paycom also was named on the Metro 50 list designated to showcase the 50 Oklahoma companies with the biggest growth from the prior year.

“There are several factors that make our company successful,” Richison said. “Whether it be our easy-to-use software or the personal service our customers experience, it is our people (who) are behind everything we do and it is ultimately our people who have made us what we are today.”

Paycom provides businesses with the power to efficiently and cost-effectively process payroll, optimize their time and labor management, improve their human resources reporting capabilities and comply with COBRA, according to a company press release.

One of the country’s fastest-growing companies, Paycom processes payroll for customers in all 50 states and has offices in Oklahoma City, Tulsa, Denver, Dallas and New Orleans.

Paycom was started in 1998 when Richison and his wife moved back to Oklahoma from Colorado. Richison said he had worked in the payroll industry since graduating from college and realized that “all they were doing was moving customers back and forth between the major providers.”

He created Paycom to provide a similar product with exceptional service. He developed a Web product, which is considered today to be the most functional Web product on the market.

Paycom employs 80 people company-wide. For more information on the company, visit www.paycomonline.com.

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