Paychex company
Where are they today?
Paychex, Inc is a leading provider of payroll, human resource, and benefits outsourcing solutions to small and medium sized businesses in the U.S. It also has a subsidiary in Germany, even though it generates less than 1% of Paychex total revenue. The Service Revenue mainly comprises of Payroll and Human Resource portfolios of the services and products they provide. Payroll service revenue serves as the Backbone for Paychex. Paychex revenues exceed $2.3 billion in fiscal 2013, mainly included payroll processing, payroll tax administration services, employee payment services and other ancillary service.
With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013.
2. Would you still consider them a breakthrough company? Why or why not?
In my point of view, it still a breakthrough company. It has a strong outlook for the revenue generated from Payroll services, and and implemented new technologies like implementation of ‘MMS’, which has shown growth in its software as a solution. In the other hand, Paychex also has expanded Insurance offerings – including workers compensation and health benefits. Its clients in this segment have increased over 100,000 and the service revenue has risen by 49%, and expected strong future expectations from it. With over 11$ billion as assets and 51,000 clients, Paychex continues to be a leader in 401(k) recordkeeping. Paychex HR Solutions now serves 502,000 client employees, more than our next three competitors combined.
And in recent years, Paychex launched the Paychex Online Mobile and Paychex Mobile which expand its Software as a Service (SaaS) product offerings for clients with the Paychex Online Mobile application for the iPhone system, Android system, and BlackBerry system. It provides clients powerful