Paycom Software, Inc. (NYSE:PAYC), a leading provider of comprehensive, cloud-based human capital management software, today announced the opening of six new sales offices in Chicago, Cleveland, Pasadena, Sacramento, San Antonio and Stamford, Conn.
“The opening of these six offices aligns with our current and future growth plans, and will allow us to expand our market presence,” said Paycom’s founder and CEO, Chad Richison.
Oklahoma City-based Paycom has consistently broadened its national footprint by opening new offices and now has 42 sales teams nationwide. In 2015, Paycom opened locations in Brooklyn, Cincinnati, Kansas City, Nashville and Pittsburgh after opening in Baltimore, Indianapolis, Philadelphia, Portland and Silicon Valley in 2014.
Five of the six locations are geographically new for Paycom, while Paycom’s Chicago office will be its second after opening its first Chicago location in 2008.
“Having more than one office in major metropolitan cities has proven to be a successful strategy and we will continue to identify opportunities to further penetrate these markets,” said Richison.
All of the new offices will be led by proven Paycom sales managers who will relocate from well-established offices. Each manager is responsible for hiring and developing talented individuals in his or her city to maximize market potential.
“Our managers and sales representatives are seeing great success and are passionate about meeting the needs of businesses across the nation with our cloud-based human capital management solution,” said Paycom’s chief sales officer, Jeff York. “We are excited about the potential of these new offices, which we believe are poised to drive substantial growth in the future.”
Named one of the Best Places to Work in the nation among large businesses by Glassdoor.com, a popular career website, Paycom has additional sales offices located in Atlanta, Austin, Boston, Charlotte, Chicago, Dallas, Denver, Detroit, Fort Worth, Houston, Los Angeles, Miami, Minneapolis, New York City, Oklahoma City, Orange County, Parsippany, Phoenix, San Francisco, Seattle, St. Louis, Tampa, Tulsa and Washington, D.C.
Forward-Looking Statements Certain statements in this press release may be forward-looking statements within the meaning provided under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are made only as of the date hereof. These statements involve known and unknown risks and uncertainties that may cause Paycom’s actual results to differ materially from those stated or implied by such forward-looking statements, and include, but are not limited to, statements regarding Paycom’s business strategy; anticipated future operating results and operating expenses, cash flows, capital resources and liquidity; trends, opportunities and risks affecting Paycom’s business, industry and financial results; future expansion or growth plans and potential for future growth; technology; market opportunities and Paycom’s ability to attract new clients to purchase its solution; Paycom’s ability to retain clients and induce them to purchase additional applications; Paycom’s ability to accurately forecast future revenues and appropriately plan its expenses; market acceptance of Paycom’s solution and applications; alternative ways of addressing human capital management (“HCM”) needs or new technologies generally by Paycom and its competitors; continued acceptance of Software-as-a-Service as an effective method for delivering HCM solutions and other business management applications; the attraction and retention of qualified employees and key personnel; Paycom’s ability to protect and defend its intellectual property; costs associated with defending intellectual property infringement and other claims; events in the markets for Paycom’s solution and alternatives to Paycom’s solution, as well as in the United States and global markets generally; future regulatory, judicial and legislative changes in Paycom’s industry; changes in the competitive environment in Paycom’s industry and the markets in which it operates; and that Paycom will continue with its plan to open additional sales offices, and be able to effectively execute such plan, in the future.
Other factors that may cause such differences include, but are not limited to, those discussed in Paycom’s periodic filings with the Securities and Exchange Commission, including those discussed in “Item 1A. Risk Factors” in the Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2015 and in subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Paycom undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
