Since CEO Chad Richison established the business in 1998, Paycom Software has been at the forefront of the payroll industry’s disruption. His company transformed payroll by moving it online. Over time, it has remained a disruptive force and helped manage its human resources (HR) procedures by creating a single cloud-based software solution. The company’s most recent invention, Beti, is once again upending the market by completely altering the payroll process. It is assisting Paycom’s rapid expansion, which might last for years  by Paycom Chad Richison.

Chad Richison: Find fresh approaches to resolving persistent issues

Richison’s observation was the catalyst for his success. One of the first 100% web-based payroll companies country was founded by the Oklahoma native Paycom in 1998 when he was just 27 years old. His concept is now one of the industries with the fastest rate expansion. Paycom saw a 31% increase in revenue to $566 million last year. By the end of 2018, the business had managed payroll for more than 23,500 customers nationwide.

The stock of Paycom has increased by over 1,400% to about 230 since it went public in April 2014 for 15 per share. The IBD 50, a watchlist of market-dominant growth stocks, has Paycom at number seven. Paycom Chad Richison became a billionaire and one of the top-rated CEOs in the country among his employee’s thanks to his ability to spot trends that others had missed. All because figure out how to put a company’s whole HR data online in a single, accessible database.

Put a Value on Success

Richison is already anticipating and quantifying what the sector will face next. Employee input and management of their HR data now given more independence. It would free up firms to focus more on strategic and value-added tasks rather than administrative tasks that require a lot of paper. There is no need for HR managers, payroll personnel, or recruitment staff manually enter employee data in today’s internet-connected environment.