- Paycom Software, Inc. (PAYC, Financial) study shows a 362% three-year ROI from its automated software.
- The software saves over 45% of HR time and reduces compliance work by 80%.
- Organizations report $300,000 in annual savings through better data visibility.
Paycom Software, Inc. (PAYC), a leader in cloud-based human capital management software, has released findings from a Forrester Consulting study highlighting the financial benefits of its full-solution automation and single-database software. According to the Total Economic Impactâ„¢ (TEI) study, a composite organization, representative of Paycom clients, achieved a remarkable 362% return on investment (ROI) over three years.
The study emphasizes significant time and cost savings resulting from Paycom's software. Key findings include a 45% annual reduction in time spent by HR departments, an 80% decrease in compliance workload, and $300,000 in yearly savings due to improved data visibility and analytics capabilities.
Paycom's single-database system empowers organizations by maintaining data integrity and providing seamless integration of various HR functions. This setup enables real-time analytics, fostering informed business strategies and potential company growth. Paycom's CEO, Chad Richison, underscored the importance of automated solutions in enhancing efficiency and driving value for clients, solidifying Paycom's position as a pivotal tool in strategic HR management.
The insights from the study also highlighted the challenges faced by companies using multiple HCM providers, citing excessive time spent managing disparate systems and the negative impact on data accuracy. In contrast, Paycom clients benefit from cleaner data and enhanced business reporting, showcasing the advantages of using a unified HR solution.
