What does Paychex do?

Paychex, Inc. is a prominent human capital management (HCM) company founded in 1971 in Rochester, New York. It specializes in payroll, HR, benefits, and insurance services, primarily for small and medium-sized businesses (SMBs) across the U.S., Germany, and Denmark. With a client base of approximately 800,000, Paychex plays a significant role in the U.S. economy, processing payroll for 1 in 11 private-sector workers and supporting over 2.5 million worksite employees through HR outsourcing. The company offers a comprehensive suite of integrated HCM solutions, including payroll processing, HR services, employee benefits management, and insurance. Paychex has evolved its services over the years, introducing online payroll in 1995 and mobile access in 2010. It is recognized as a leading 401(k) recordkeeper, managing over 90,000 plans. With a focus on technology and compliance, Paychex continues to provide valuable support to businesses of all sizes, emphasizing simplicity and efficiency in its offerings.