From Wikipedia, the free encyclopedia
American Payment Technology Company
Paychex, Inc.
, headquartered in
Rochester, New York
, is a provider of
human resources
,
payroll
, and
employee benefits
outsourcing services for small- to medium-sized businesses.
[1]
The company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe.
[1]
Paychex is ranked 681st on the
Fortune 500
list of largest corporations by revenue.
[2]
History
Paychex was founded in 1971 by
Tom Golisano
, who started the company with only $3,000.
[3]
[4]
The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company became a
public company
via an
initial public offering
.
[5]
[6]
Acquisitions
Company
|
Year
|
Price
|
Ref(s)
|
Pay-Fone
|
1995
|
Undisclosed
|
|
Payday
|
1995
|
Undisclosed
|
|
Olsen Computer Systems, Inc.
|
1996
|
Undisclosed
|
[7]
|
National Business Solutions
|
1996
|
$142.5 million
|
[8]
|
Advantage Payroll Services, Inc.
|
2002
|
$240 million
|
[9]
|
InterPay Inc.
|
2003
|
$155 million
|
[10]
|
Time In A Box product from Stromberg
|
2003
|
Undisclosed
|
[11]
|
Stromberg
|
2004
|
Undisclosed
|
[12]
|
Hawthorne Benefit Technologies
|
2007
|
Undisclosed
|
[13]
|
SurePayroll, Inc.
|
2010
|
$115 million
|
[14]
|
ePlan Services, Inc.
|
2011
|
Undisclosed
|
[15]
|
Icon Time Systems
|
2012
|
Undisclosed
|
[16]
|
ExpenseWire
|
2012
|
Undisclosed
|
[17]
|
myStaffingPro
|
2013
|
Undisclosed
|
[18]
|
NETtime solutions
|
2014
|
Undisclosed
|
[19]
|
Advance Partners
|
2015
|
Undisclosed
|
[20]
|
Human Resources Outsourcing, Inc.
|
2017
|
Undisclosed
|
[21]
|
Lessor Group
|
2018
|
Undisclosed
|
[22]
|
Oasis
|
2018
|
$1.2 billion
|
[23]
[24]
[25]
[26]
|
Small Business Employment Watch
Paychex and
IHS Markit
launched a Small Business Jobs Index in 2014 that measures the health of businesses employing 50 people or less.
[27]
Today, the Paychex | IHS Markit Small Business Employment Watch shares small business jobs data going back to 2005 and wage data from 2011 to present.
[
citation needed
]
[28]
The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.
[29]
Paychex CEO Martin Mucci regularly appears in the media to provide analysis of Small Business Employment Watch data, as well as insight into what the health of Paychex as a company says about the health of small business and the economy in general.
[30]
Awards and honors
- Paychex named to HR Examiner's 2020 Watchlist for the use of
AI
in HR
[31]
- In 2019, Paychex was named to the
FORTUNE
list of Future 50 companies
[32]
- Paychex was listed as number 211 on
Forbes
2019 list of the World's Best
[33]
- In 2018, Paychex was named one of the World's Most Ethical Companies by
Ethisphere
for an 11th time
[34]
- In 2018,
Forbes
placed Paychex at number 76 on their list of the World's Most Innovative Companies
[33]
- Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in
Rochester
in 2016
[35]
- Paychex Flex received the 2016 TekTonic Award from HRO Magazine for being a best-in-class mobile and cloud-based technology suite
[36]
Chief executives
Name
|
Tenure
|
Tom Golisano
|
1979 ? October 2004
|
Jonathan J. Judge
|
October 2004 ? July 2010
|
Martin Mucci
|
October 2010 ? October 2022
|
John Gibson
|
October 2022 ? Present
[37]
|
References
- ^
a
b
c
"Paychex, Inc. Annual Form 10-K"
.
U.S. Securities and Exchange Commission
.
- ^
"Paychex"
.
Fortune
.
- ^
"
Golisano Built Paychex into a Success Story
Archived
2016-03-03 at the
Wayback Machine
."
Rochester Business Journal
.
- ^
"Paychex, Inc. (PAYX) Company Profile & Facts ? Yahoo Finance"
.
finance.yahoo.com
. Retrieved
August 31,
2020
.
- ^
"History of Paychex, Inc. ? FundingUniverse"
.
www.fundinguniverse.com
. Retrieved
August 31,
2020
.
- ^
"Servicers"
.
Forbes
. Retrieved
August 31,
2020
.
- ^
"Paychex Acquires Olsen"
.
Los Angeles Times
. November 22, 1996.
- ^
"Company News;paychex Plans to Buy National Business Solutions"
.
The New York Times
. June 26, 1996.
- ^
"Company News; Paychex to Buy Advantage Payroll for $240 Million"
.
The New York Times
.
Bloomberg News
. September 19, 2002.
- ^
"Paychex to acquire rival InterPay"
.
American City Business Journals
. March 17, 2003.
- ^
"Paychex Acquires Product Line From Stromberg"
.
Accounting Today
. October 17, 2003.
- ^
"Paychex Completes Acquisition of Stromberg"
.
Accounting Today
. April 14, 2004.
- ^
"Paychex announces acquisition of BeneTrac"
.
Reuters
. September 13, 2007.
- ^
Yue, Lorene (December 13, 2010).
"SurePayroll bought by rival Paychex for $115M"
.
Crain's Chicago Business
.
- ^
Team, Trefis.
"Paychex Gains From EPlan Deal, But Stock Still Too Rich"
.
Forbes
.
- ^
Dougherty, Nate (January 9, 2012).
"Paychex acquires Icon Time Systems"
.
Rochester Business Journal
.
- ^
"Paychex Acquires ExpenseWire"
(Press release).
Business Wire
. December 3, 2012.
- ^
"Paychex Announces Acquisition of myStaffingPro"
(Press release).
Business Wire
. June 12, 2013.
- ^
Team, Trefis.
"Paychex Expands Its Software-As-A-Service Based Solutions By Acquiring Nettime"
.
Forbes
.
- ^
"Paychex (PAYX) Completes Advance Partners Acquisition"
.
www.nasdaq.com
.
- ^
"Paychex acquires HR Outsourcing, Inc"
.
RochesterFirst
. August 21, 2017.
- ^
Fanelli, Gino (March 1, 2018).
"Paychex acquires Lessor Group"
.
Rochester Business Journal
.
- ^
"Paychex Acquires Oasis Outsourcing for $1.2 Billion"
.
The Wall Street Journal
. December 21, 2018.
- ^
Prang, Allison (November 26, 2018).
"Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion"
.
The Wall Street Journal
.
- ^
"Paychex to buy outsourcing firm Oasis for $1.2 billion"
.
Reuters
. November 26, 2018.
- ^
"Oasis Outsourcing to be acquired by PayChex"
.
South Florida Business Journal
.
- ^
Karol, Gabrielle (January 9, 2016).
"Paychex, IHS Launch Small Business Jobs Index"
.
FOXBusiness
. Retrieved
September 5,
2020
.
- ^
"Small Business Employment Watch provided by Paychex | IHS Markit"
.
www.paychex.com
. Retrieved
September 5,
2020
.
[
self-published source
]
- ^
Carney, John (June 30, 2015).
"Don't Look for Paychex to Bounce"
.
The Wall Street Journal
. Retrieved
September 5,
2020
.
- ^
Clifford, Tyler (October 2, 2019).
"Paychex CEO tells Jim Cramer that small business hiring picked up in September despite slowdown worries"
.
CNBC
. Retrieved
September 5,
2020
.
- ^
Sumser, John.
"The HRExaminer 2020 Watchlist: Paychex ? Payroll and Basic HR Services | HR Examiner"
. Retrieved
September 9,
2020
.
- ^
"Paychex"
.
Fortune
. Retrieved
September 9,
2020
.
- ^
a
b
"Paychex (PAYX)"
.
Forbes
. Retrieved
September 9,
2020
.
- ^
"Honorees 2020"
.
Ethisphere® Institute | Good. Smart. Business. Profit.®
. Retrieved
September 9,
2020
.
- ^
"Top Workplaces | The Democrat and Chronicle"
.
Top Workplaces
. Retrieved
September 9,
2020
.
- ^
Roth, Audrey (June 8, 2016).
"2016 TekTonic Award Winners"
.
HRO Today
. Retrieved
September 9,
2020
.
- ^
"Paychex Names John Gibson As New CEO; Martin Mucci To Remain As Chairman"
.
Nasdaq
. Retrieved
June 23,
2023
.
External links
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