Oklahoma Company Paycom Honored by Inc. 500/5000 Five Years In A Row

Online, August 24, 2010 (Newswire.com) - Paycom's Success Fuels 151% 3-Year Growth Rate

Inc. magazine today ranked Paycom number 1814 on its 29th annual Inc. 5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy-America's independent-minded entrepreneurs. Music website Pandora, convenience store chain 7-Eleven, Brooklyn Brewery, and Radio Flyer, maker of the iconic children's red wagon, are among the prominent brands featured on this year's list.

"The leaders of the companies on this year's Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression," said Inc. president Bob LaPointe. "The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs."

Processing payroll for more than 8,000 customers in all 50 states, Paycom has over 350 employees and continues to grow. In fact, in June of this year, Paycom broke ground on a new corporate headquarters to support their continued growth. The 90,000 square foot facility is located on 14 acres in northwest Oklahoma City. They are currently hiring around 20 new employees each month with plans to add at least 400 jobs over the next three years. In addition to their headquarters in Oklahoma City, they also have offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Houston, Los Angeles, Irvine, Phoenix, St. Louis, Tampa and Tulsa.

"To have our success and our growth recognized by Inc. 5000 for the fifth year in a row is a real honor," said Oklahoma entrepreneur and Paycom CEO Chad Richison. "It is also proof that our business model works. We listen to our customers, provide them with the cost effective solutions they need and follow it up with first class customer support. The result is an impressive 99% customer retention rate."
Paycom provides online services designed to streamline payroll and HR processes. They eliminate the burden of installed payroll software's purchase price, maintenance and support by providing its payroll product as Software as a Service (SaaS) over the internet. Customers enjoy an integrated solution for not only payroll but time and attendance, HR, background checks, benefit administration and COBRA with the online convenience that makes it more efficient to operate and less expensive than traditional alternatives.

The 2010 Inc. 5000, unveiled today on Inc.com, serves as a unique illustration of the profound changes taking place in the U.S. economy. The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33 percent from last year to 335 companies. Government Services was also the second-fastest-growing sector in terms of median revenue growth, posting a 202 percent gain over the 2006-2009 measuring period. More than half of these companies are based in Maryland, Virginia, and Washington, D.C. The fastest-growing sector by median revenue growth was Real Estate, now just a tiny group of 38 young, small companies, which showed 231 percent median growth over the period. (There were 121 Real Estate firms on the inaugural Inc. 5000 in 2007.) Business Products & Services is the top industry by number of companies on the list (640) and total revenue ($80.7 billion), while Health is the biggest by total employment (287,726 jobs).

Despite the fact that most of this year's measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year's 126 percent. This year's Inc. 5000 employ a record 1.4 million people, up from one million on last year's list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on www.inc.com/5000.

The Hottest Regions for Fast-Growing Companies

Once again, California tops the Inc. 5000 with the most companies of any state with 684. The Golden State is followed by Texas (404), New York (353), Virginia (293), and Florida (262). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year's list.

New York boasts 410 Inc. 5000 companies, making it the top metro area, followed by Washington, D.C. (363), Los Angeles (262), Chicago (203), and Boston (189).

The Inc. 5000 at a Glance

The Real Estate sector, although small, was the top-performing industry, with a total growth rate of 189 percent. Software was second with a growth rate of 126 percent, and Telecommunications was third with 119 percent.

In total, the companies on the Inc. 5000 have created 1.4 million jobs. The Health sector is the top employer with 287,726 jobs, followed by Business Products & Services (230,066), Food & Beverage (108,344), Human Resources (107,924), and Retail (96,858).

Business Products & Services had the most companies on this year's list with 640, followed by IT Services (607), Advertising & Marketing (410), Health (396), and Government Services (336).

This year's fastest-growing company is Ambit Energy, a Dallas-based firm that buys electricity and natural gas at wholesale prices and resells the energy to customers acquired through a direct sales channel. The company saw $325 million in revenue in 2009 and a three-year growth rate of 20,369 percent.

The top woman-run company is Lexicon Consulting (No. 4 overall), based in El Cajon, California. Lexicon creates mock Iraqi and Afghan villages used to train military personnel. The firm, founded by Jamie Arundell-Latshaw in 2005, recorded revenue of $17.9 million in 2009 and a three-year growth rate of 14,018 percent. The top minority-run company is WDFA Marketing (No. 5 overall), a San Francisco-based firm that specializes in guerrilla, grass-roots, and micromarketing. WDFA, founded by Raj Prasad, posted revenue of $38.4 million in 2008 and a three-year growth rate of 13,350 percent.

The Inc. 5000 posted an aggregate revenue of $321.6 billion in 2009, up more than 50 percent from the previous year. The top five industries by total revenue are Business Products & Services ($84.7 billion), Health ($48.3 billion), Consumer Products & Services ($26.4 billion), Retail ($22.3 billion), and Government Services ($15.1 billion).

The Top 10 Inc. 5000 Companies Ranked by Growth

No. 1
Ambit Energy
Dallas
Energy
2006
20,369.4%
$325 million

No. 2
ModCloth
Pittsburgh
Retail
2002
17,191.4%
$15.6 million

No. 3
Luke & Associates
Merritt Island, Florida
Government Services
2004
16,636.6%
$37.5 million

No. 4
Lexicon Consulting
El Cajon, California
Government Services
2005
14,017.7%
$17.9 million

No. 5
WDFA Marketing
San Francisco
Advertising & Marketing
2006
13,969.5%
$96.4 million

No. 6
Coyote Logistics
Lake Forest, Illinois
Logistics & Transportation
2006
13,846.8%
$249.8 million

No. 7
Debt Free Associates
Oklahoma City
Financial Services
2006
12,376.2%
$26.2 million

No. 8
LifeLock
Tempe, Arizona
Security
2005
11,474.3%
$131.4 million

No. 9
Carbonite
Boston
IT Services
2005
11,207.6%
$19.1 million

No. 10
KPaul
Indianapolis
Government Services
2004
10,925.6%
$11.2 million

The Top 10 Inc. 5000 Companies Ranked by Total Revenue

No. 4,512
HCA
Nashville
Health
$30.1 billion

No. 4,929
7-Eleven
Dallas
Consumer Products & Services
$15.1 billion

No. 4,932
Toys "R" Us
Wayne, New Jersey
Retail
$13.6 billion

No. 4,819
Univar
Redmond, Washington
Business
Products & Services
$7.2 billion

No. 3,247
Booz Allen Hamilton
McLean, Virginia
Business Products & Services
$5.1 billion

No. 4,708
Kingston Technology
Fountain Valley, California
Computer Hardware
$4.1 billion

No. 3,626
Mansfield Oil
Gainesville, Georgia
Energy
$2.9 billion

No. 3,294
LPL Investment Holdings
Boston
Financial Services
$2.7 billion

No. 1,018
Vizio
Irvine, California
Consumer Products & Services
$2.5 billion

No. 4288
AMC Entertainment
Kansas City, Missouri
Media
$2.4 billion