PPAYCPaycom Software, Inc.

Paycom runs payroll and human resources in one system where the employee enters the data themselves.

Normally personnel data passes through a department that moves it between programmes and makes mistakes. Here there is one database: the employee logs their own leave, changes their details and checks their own pay before it is processed. There are fewer errors, and the human resources department needs fewer people.

The product is sold as a per-employee subscription, so revenue grows with customers' headcount. Changing payroll provider is risky and requires migrating tax history, hence high renewal rates. Part of the income comes from interest on funds passing through the company between debit and payment. Risks: employment and competition. A dividend is paid.