Oklahoma City's Paycom makes Forbes' Fast Tech 25 listPublished: Friday, June 2, 2017 5:00 am By: Abby Bitterman Source: The Oklahoman
Oklahoma City's Paycom Software Inc. is rubbing elbows with some elite technology firms.
The payroll and human resources software company was ranked fourth on Forbes magazine's 2017 Fast Tech 25, a list of America's fastest-growing publicly traded technology companies.
It was the first time that Paycom, Oklahoma City's fastest-growing publicly traded company, made the list, the company said. The company launched in November of 1998 and provides cloud-based human capital management software to clients in all 50 states.
The Fast Tech 25 ranks each company's three-year average sales growth rate in descending order. Paycom ranked behind only GrubHub, Facebook and Arista Networks, a networking equipment company. Paycom landed ahead of Amazon, PayPal and Alphabet Inc., Google's parent company, among others.
“Placing in the top five of this list is a testament to our HCM (human capital management) technology, and our continuing emphasis as a sales- and service-oriented organization," Paycom's founder and CEO, Chad Richison said in a statement.
In 2016, Paycom booked revenue of $329.1 million, up 46.5 percent from the previous year. The company has produced a compound annual growth rate of 45 percent over the last three years.