Paycom CE Chad Richison named Entrepreneur of the Year 2010 Award Winner in Southwest Area

Online, June 21, 2010 (Newswire.com) - Award Recognizes Entrepreneurial Excellence in Business and Financial Services Category

OKLAHOMA CITY, OK- JUNE 19, 2010 - Paycom, an Oklahoma-City-based online payroll company, today announced that Chad Richison received the Ernst & Young Entrepreneur Of The Year® 2010 Award in the Business and Financial Services category in the Southwest Area - North. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Richison was selected by an independent panel of judges, and the award was presented at a gala event at the Dallas Sheraton on June 19, 2010.

The sport of wrestling developed Richison's entrepreneurial determination. Wrestling, he says, teaches you how to get off your back and onto your feet.

Richison sunk everything into starting Paycom, an Oklahoma City payroll services provider, in 1998. To survive, he got creative with credit cards-taking out the full advance on a card all at once and then applying for another card and doing it all over again. Entrepreneurs should put their financial life on the line when starting a business, he believes. "You need to be all the way in," he says, "so that failure isn't an option."

Today, Paycom is growing by 500 new customers a month who tap into its easy-to-use web-based software, Richison says.

On Wednesday of this week, Richison will be hosting a small ground breaking ceremony to officially kick off the construction of his new 90,000 square foot headquarters located on 14 acres on the north side of Memorial Road between Rockwell Ave. and Council Road. "We are currently growing at a rapid rate and are hiring around a dozen new employees each month and anticipate adding approximately 400 new jobs over the next three years. This new building will support that growth and give us the flexibility to expand even more in the future," explained Richison.

The Ernst & Young Entrepreneur Of The Year awards celebrate their 24th anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.

As a Southwest Area - North award winner, Richison is now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2010 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 13, 2010. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.

In the Southwest Area North., sponsors include Smith Frank & Partners; First United Bank & Trust, Roach, Howard, Smith & Barton, Solomon Edwards Group, VIP Search, Ussery Printing, D CEO Magazine, Munsch, Hardt, Kopf & Harr, Pierpont Communications, Fort Worth Business Press, Journal Record, and Smart Business Magazine.

About Paycom
Oklahoma City-based Paycom pioneered the Internet payroll market in 1998 as the first 100% online payroll provider. Now the largest exclusively online provider of full-service payroll in the U.S., Paycom serves customers in all 50 states from offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Houston, Irvine, Los Angeles, Phoenix, St Louis, Tampa and Tulsa. For more information visit www.paycomonline.com.

About Ernst & Young's Entrepreneur Of The Year® Awards Program
Ernst & Young's Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.
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